The COVID-19 would have an impact of “several hundred million” in Hydro

Photo: Ryan Remiorz, The canadian Press
The pandemic of COVID-19 obliges Hydro-Québec to manage its operating expenses tightly, according to its president and chief executive officer, Sophie Brochu.

The tremors of economic caused by the pandemic of COVID-19 may have an impact of “several hundreds of millions of dollars” on the net earnings of Hydro-Québec, said Monday its president and chief executive officer, Sophie Brochu.

It has provided a few details on the turbulence caused by the new coronavirus in the context of a virtual conference organised by the Chamber of commerce of metropolitan Montreal (BTMM), where she has also promised changes in the area of diversity within the management team of the corporation.

When questioned, Ms. Brochu responded that the COVID-19 ” buttock strength “, which forces Hydro-Québec to manage its operating expenses tightly.

Even before being hit by the pandemic, the State company had seen its sales decline for the first quarter ended march 31, and warned that she would not be able to generate a net profit of $ 2.9 billion this year — a sum of money paid into the coffers of the State — as it was stated in the strategic plan for 2020-2024.

The new leader of Hydro-Québec, which has recently appointed two women — Claudine Bouchard (evolution of business and strategic sourcing) and Johanne Duhaime (information technology and communications within the steering committee. The table is however “very white,” said Ms. Brochu.

At the time when the question of systemic racism is very present in the public sphere, the leader of the State-owned company said it needed to ” remedy the situation “.

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