The January cold caused Hydro-Québec’s profits to explode in the 1st quarter

January 2022 was the coldest month since 2004, with an average daily temperature of -14°C compared to -7°C in January 2021.

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An extremely cold month of January contributed to a 25.6% increase in net income for Hydro-Québec, as the Crown corporation saw its profit rise by $421 million to reach $2.06 billion in the first quarter of 2022.

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