Hydro-Quebec Opens First U.S. Office; Clean Power Capabilities Expanded in Northeast and Mid-Atlantic Region; Interviews Available.PITTSBURGH--(BUSINESS WIRE)--Nov. 11, 1998--Hydro-Quebec recently opened the doors of its first U.S.-based subsidiary, HQ Energy Services US Inc. (HQUS). The company was granted a power marketer's license in November 1997 by FERC FERC Federal Energy Regulatory Commission FERC FEMA Emergency Response Capability and is an active member of NEPOOL NEPOOL New England Power Pool and PJM PJM Pacific Journal of Mathematics PJM Project Manager PJM Puerto Jimenez, Costa Rica (Airport code) PJM Pennsylvania New Jersey Maryland Interconnection LLC (Mid-Atlantic region power pool) . Matthew LaRocque, formerly of Duke Power and a native of Plattsburgh, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , was appointed President of HQUS in March of this year and will head up the Pittsburgh-based power marketer's sales office. HQUS will offer multi-energy services to utilities, marketers, municipalities, and large users in the Northeast and Mid-Atlantic States. "Hydro-Quebec has been providing clean, reasonably-priced hydropower to the Northeastern United States for years." LaRocque said. "Now, with deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. and our ability to sell at market-based prices directly in the U.S. market, HQUS can offer an even greater number of U.S. customers the safety, reliability, and environmental benefits that Quebecers have always enjoyed." Initially, HQUS' main focus will be the wholesale marketplace. However, as regulations and market conditions change, the company expects to establish a presence in retail markets as well. HQUS plans to purchase some output from diversified generating assets in the United States, which will contribute to improve the reliability of the region's interconnected systems. In addition, the company will continue to supply hydropower generated in Quebec. "In 1995 alone, Hydro-Quebec's sale of hydropower to the US avoided the production of 2.4 million tons of CO2 in the Northeast." LaRocque said. "It is numbers like that that make me proud to be affiliated with this company, and eager to lead the team at HQUS." Hydro-Quebec, a publicly-owned utility with a total available capacity of 37,000 MW, serves 3.4 million customers in the province of Quebec, generating 96 percent of its electricity through hydropower. Hydro-Quebec also holds a 46 percent stake in Noverco, the parent company of Gas Metropolitain Inc., Quebec's largest gas distributor. It trades electricity with neighboring systems in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. , and is a member of the Northeast Power Coordinating Council  The Northeast Power Coordinating Council (NPCC) . Hydro-Quebec reported assets of US$40 billion and revenue close to US$6 billion in 1997. HQ Energy Services US Inc. Airport Office Park, Building 5-Second Floor 345 Rouser Road Coraopolis, PA15108 |
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