Frigid January made Hydro-Québec’s first-quarter profits sizzle

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

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A bitterly cold January contributed to a 25.6-per-cent jump in net earnings for Hydro-Québec, with the Crown corporation seeing those earnings increase by $421 million to $2.06 billion for the first quarter of 2022.

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