Crown corporations date from the early European settlements by Scotland, England and France in Canada. In 1841, the Board of Works was established. This was to construct the canal system in the Province of Canada. Today, Canadian National Railways, Petro-Canada and many provincial hydro firms are some of Canada’s largest enterprises.
Hydro –Quebec, a popular crown corporation was established in 1944. Its main establishment is in Montreal. This company is the main provider of electricity in Quebec. Following the Great depression, there was a demand for the government to take control of the economy instead of having English domination.
Adelard Godbout, the premier of Quebec in 1939 was seeking for a state owned utility for cheaper, reliable and accessible electricity. He took control and on April 14 1944, Hydro-Quebec was created competing with MLH&P and the Shawinigan Water & Power Company.
Hydro is government owned and managed by a board of directors meaning it has Quebec’s interest in mind. Therefore, it holds a stronger economy in Quebec. The electricity is cheaper, more reliable and more accessible than most companies. There is more stability in this company since it uses water as energy. Stressing over oil prices and coal is unnecessary.
Hydro-Quebec also benefits the economy since it gives back to the province. Hydro buys 91% of its purchases from Quebec. This crown corporation is also a job market. There were over 23 000 employees in December 31st 2010.