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The Globe and Mail

Electricity exports boost Hydro-Québec profit

Hydro Quebec power lines are shown Thursday Oct. 29, 2009 in Levis Que..

Jacques Boissinot/Jacques Boissinot/The Canadian Press

Hydro-Québec's third-quarter profit was up 69 per cent, with net income rising to $384-million with the help of higher electricity exports to the United States.

The provincial Crown corporation's total revenue was down slightly due to currency exchange rates, falling to $2.68-billion from $2.7-billion in the third quarter of 2010, when Hydro-Quebec's net income was $227-million.

The corporation noted it had limited net exports of electricity last year due to the impact of low precipitation and water levels that reduced its hydro output.

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