Hydro-Quebec is celebrating over news that the utility’s profit topped $1 billion for the first time in its history last year.
Hydro had a net profit of $1.08 billion in 2000, 19 percent higher than in 1999.
Half of the profit is given directly to the Quebec government.
Total revenues at Hydro-Quebec also increased by 19 percent, from $9.6 billion to $11.4 billion.
The rising profits and revenues were attributed to Quebec’s strong economy.
Also, foreign electricity sales more than doubled, and were at $2.4 billion.
