As we all know, equipment can be damaged and equipment has a certain lifespan, however, how is Hydro Québec (HQ) managing these contingencies?
They need to come up with a proactive solution (rather than a reactive one) and they need to keep Upper Pontiac residents informed of the proposed solutions.
For the period from 1969 to 2019, HQ made profits of close to $28 billion, compared with just $2 billion for Newfoundland & Labrador. In 2018, HQ paid $2.39 billion in dividends to its “sole shareholder”, the Government of Quebec.
In its 2021 Annual Report, HQ reported a net income of $3.6 billion, amidst a time of economic recovery. This represents the best financial performance in its history, which will allow HQ to make its largest contribution ever to Quebec’s collective prosperity. The company paid dividends of more than $2.7 billion to the Quebec Government, its sole shareholder.
We have Quebecers that are struggling financially in 2023. One possible solution might be more underground cabling and equipment in order to potentially lessen breakage and improve equipment longevity; for example, we have underground cables going from Canada under the ocean to the UK.
We should always think of the future when it comes to financial investments (similarly when it comes to healthcare) and work towards improving the system.