Hydro-Québec's new boss: What you should know about the man and the job
since 2020. Prime Minister Justin Trudeau appointed him to the role during the first year of the pandemic to help manage record stimulus spending. Sabia also served as chief executive of the Caisse de dépôt et placement du Québec, one of the country’s biggest pension plans with reach around the world. Sabia changed the Caisse’s fortunes, bringing it out of a deficit and into billions in profit.
Despite Sabia’s wealth of experience in investing, finance and public service, he has no direct experience in the energy sector, which might hamper his ability to spar with politicians in New England.Lately, Hydro-Québec has been under fire from a group of Maine legislators who are concerned the utility won’t be able to provide the state with the power it needs.
Hydro-Québec has enough power to fulfill its obligations, chief financial officer Jean-Hugues Lafleur said on a May 12 analyst call. “When we signed the contract in 2018, we had enough energy and we still have enough energy to supply the New England region,” he said, adding that the company is building capacity to keep pace with demand at home.
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