Higher Exports Boost Profit For Crown-owned Utility

摘要

Income from continuing operations for Crown-owned Hydro-Quebec surpassed $2.88billionfor2007,up$85 million over 2006. This increase was chiefly due to $290-million rise in net electricity exports, which was mitigated by a nonrecurring foreign exchange gain of $234 million recognized in 2006.rnNet exports represented 5.6% of total volume, but generated 25% of net income. Income from discontinued operations totaled $25 million in 2007 and stemmed mainly from a gain on the sale of the Hydro-Quebec interest in DirectLink, in Australia. This transaction, which closed on Feb. 28, 2007, completed Hydro-Quebec's disposal of foreign holdings.