The more or less surprise resignation of Sophie Brochu has aroused many reactions. Since the appointment of Pierre Fitzgibbon as minister responsible for Hydro-Québec, a power struggle has been taking shape between the CEO and the minister. Ms. Brochu probably did not want to pay the costs of a power struggle against the “boys club” and I know what I am talking about.
However, contrary to what the various columnists suggest, their visions of the economy are not at all poles apart. They are part of the same big business network. Sophie Brochu, however, did not have the same eagerness as Pierre Fitzgibbon. You will find that my remarks are out of step with the remarks heard on this affair, but let us look at the facts.
Missteps
Ms. Brochu signed a contract for the sale at a big discount, or even at a loss, of 20 TWh/year in the United States for 25 years, when she knew full well that there would be an increase in needs in Quebec of 20 TWh /year linked to the energy transition. As of 20271, ie in less than 5 years, Hydro-Québec expects to run out of electricity. For someone who sounded the alarm about the risk of making Hydro the “Dollarama of electricity”, Sophie Brochu is more of an arsonist-firefighter type. It was also her, former CEO of Gaz Métro who became CEO of Hydro, who signed an agreement to give up to $2.4 billion to the gas company (her former employer) to maintain a distribution network of mainly fracking gas, the dirtiest energy on the planet, under false pretences. All at the expense of electricity consumers. The facts speak for themselves.
Ms. Brochu has, moreover, demonstrated highly questionable ethics. Let’s take the example of her participation as a speaker at a high price for a company of her spouse. There is also the example of his privilege to continue to sit on the Board of Directors of the Bank of Montreal while being CEO of Hydro-Québec, a practice prohibited until then. She had also said at the time that if she had to choose between the two, her choice would be easy. She would opt for the Bank of Montreal without hesitation. I repeat, the facts speak for themselves.
Key player in the climate crisis
As far as the governance of Hydro-Québec is concerned, Quebeckers highly deserve better. Hydro-Quebec could become the flagship for a quick end to gas and oil in Quebec. Hydro-Québec has the necessary expertise to reduce energy consumption, to replace fossil fuel technologies with much more eco-responsible electric technologies, particularly with large industrial companies that emit large amounts of GHGs. It also has solid expertise in transport electrification: motors, batteries, terminals and charging stations. Before even thinking about building new dams, it is she who can best document a more restrained scenario for the use of electricity already produced and the improvements to existing infrastructure that would make it possible to carry out the energy transition directly from the current network.
The decision to appoint the next director of Hydro-Québec is more strategic than ever. The Prime Minister is at a crossroads and his decision will be very revealing. Giving a strong and independent mandate to Hydro-Québec to really take the climate shift now with the appointment of the next management would work for the Earth and future generations. Choosing to appoint a puppet to Fitzgibbon who would agree to siphon even more of our collective jewel would be to sign Quebec’s abdication in the face of the climate crisis.
Martine Ouellet, Head of Climat Québec, Ex-Minister of Natural Resources, Ex-manager at Hydro Québec