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Lower exports, higher profit

Canadian utility, Hydro-Québec, says it expects net power exports to the US to fall from 16TWh sold in 1999 to 2TWh annually by 2004.

The utility’s net sales on the US spot power market are expected to remain stable at about 5TWh a year. It expects to buy more energy from the US during off peak periods and sell during the peak period.

Sales in Quebec, where the utility generates and sells most of the electricity, are forecast to grow from 147TWh in 1999 to 164TWh in 2004. Total sales for Hydro-Québec, including exports, are forecast at 171TWh in 2004, compared with 168TWh in 1999. Hydro-Québec expects to make capital investments totalling C$12B from 2000 to 2004. Half of this will go to projects like the Ste Marguerite 3 hydroelectric project, a 882MW generating facility under construction 500km northeast of Montreal.

Several projects for the partial diversion of rivers to augment existing schemes as well as the 2220MW Churchill Falls project are also under consideration.