Hydro-Quebec Forced to Import More Power After Deals With US Utilities

Hydro-Quebec is extending its C$200 billion ($143 billion) investment plan by six years to 2041 and now expects it may be a net importer of electricity until then, reversing its role as a major exporter to US utilities. The Canadian utility, which holds long-term export contracts with US power companies, said the longer timeline reflects the scale of new generation and grid spending needed to meet demand. The shift matters because it signals tightening supply in Quebec and could affect power flows and prices in northeastern US markets that rely on Hydro-Quebec imports. Investors and counterparties will watch whether the utility confirms new generation projects, renegotiates export volumes, or adjusts its capital spending schedule.