Hydro Quebec Shell Game

BREAKING: Sierra Club files brief in International Trade Commission investigation on Canadian hydro imports & calls out Hydro-Quebec President & CEO for lying under oath. President and CEO of HQ Sophie Brochu tried to tell the federal investigators that HQ was a “stand alone” corporation totally separate from the Quebec and federal Canadian Government. An obvious lie. Here’s what Sierra Club’s lawyer wrote to the federal investigators:”Finally, the statements from the Hydro-Quebec representative under oath during the hearing along the lines of “Hydro-Quebec receives no support from the Quebec government” are unequivocally false. Approximately 95% of the debt of Hydro-Quebec is unconditionally guaranteed by the Quebec government.14 As this Commission assuredly understands, such guarantees can improve credit ratings and lower the cost of capital of the receiving entity. That is hardly inconsequential support when it comes to financial competition against entities without such guarantees. We encourage this Commission to consider all of the claims about supposed benefits of Canadian hydropower in the light of such misrepresentations under oath. As stated during the hearing, Hydro-Quebec has made numerous fallacious and misleading claims about the impacts of its operations and contracts, particularly when it comes to advocacy for potential imports to the United States. Just last week 25 current and former Maine state legislators expressed deep concern about the practices of the company regarding deceptive claims in the context of the upcoming election.

Published by Antonio Blasi

Blasi for Representative Antonio Blasi (D-Hancock) is running for the District 136 seat to the Maine House of Representatives. He currently is Hancock County Commissioner for District 3, and an elected planning board member.

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