ABOUT / HYDRO-QUÉBEC’S ROLE AND PROFITS
HYDRO-QUÉBEC’S ROLE AND PROFITS
Hydro-Québec guaranteed the construction cost overruns for the Churchill Falls project. It assumed risks associated with the project when, in 1969, it guaranteed that it would buy almost all the electricity produced by the project for many decades to come, whether it needed it or not. Hydro-Québec provided a crucial completion guarantee to secure the financing needed to construct the project. It ensured that the facility was built to its technical requirements so that it would
seamlessly integrate into its own grid. And, significantly, Hydro-Québec built a transmission network in Québec to receive the electricity at the Québec - Labrador border and transmit the electricity to markets in the United States. Without Hydro-Québec, the Churchill Falls Project would not have been built.
IT IS ESTIMATED THAT HYDRO-QUÉBEC HAS ALREADY MADE UP TO $80 BILLION IN PROFITS FROM THE CHURCHILL FALLS GENERATING STATION – AND STANDS TO MAKE UP TO $150 BILLION BY THE END OF THE POWER CONTRACT, IN 2041.
PROFITS TO DATE
PROFITS BY THE END