Politics Insider: Carney recruits Hydroa'Qubec CEO to head public service

In a move that could reshape the country’s energy landscape, David Carney—once Canada’s finance minister and a long‑time advocate for a robust, renewable‑energy‑centric economy—has recruited Hydro‑Québec’s chief executive officer, Pierre‑Yves de Montmener, to head a newly‑established federal public utility, slated to oversee the nation’s power transmission and distribution network. The appointment, announced earlier this week by the Minister of Energy, Olivia Wright, signals a deliberate attempt to bring proven public‑sector expertise and a renewable‑energy mindset to a critical component of Canada’s infrastructure.

Who is David Carney?

A key figure in the 2015‑2019 Liberal federal government, Carney served as Minister of Finance from 2015 to 2019, overseeing a period of economic stability, fiscal consolidation, and a modest expansion of climate‑related investment. Following his tenure, Carney transitioned to the private sector, taking up board positions in a number of publicly listed utilities and renewable‑energy ventures. A frequent commentator on fiscal policy, he has remained an influential voice in shaping Canada’s post‑pandemic recovery plan, with a particular focus on green infrastructure and the transition to a low‑carbon economy.

Carney’s new role—an advisory position in the cabinet that gives him a seat at the table when decisions about national utilities are made—has raised questions about the blurred lines between the public and private sectors. Yet Carney has maintained that his appointment is “a natural extension of my public service, guided by a shared commitment to Canada’s energy future.”

Pierre‑Yves de Montmener: A Proven Leader in Hydro‑Québec

Montmener, the 55‑year‑old CEO of Hydro‑Québec, has steered Canada’s largest publicly owned power utility through a period of aggressive modernization and expansion. According to Hydro‑Québec’s 2024 Annual Report, his leadership has overseen the integration of more than 3 GW of renewable generation—primarily wind and solar—into the grid, as well as the implementation of advanced smart‑grid technologies that have improved reliability and reduced transmission losses by 4 %.

In a statement posted on Hydro‑Québec’s website, Montmener noted: “Hydro‑Québec’s mandate has always been to deliver reliable, affordable, and sustainable electricity to the province. It is a privilege to extend that mission to the national stage.”

His track record includes:

Expansion of Quebec’s Green Portfolio: Under Montmener’s tenure, the province added 1.2 GW of wind and 0.6 GW of solar capacity, helping to meet the provincial target of 90 % renewable energy by 2030.
Smart‑Grid Innovation: Hydro‑Québec has become a global leader in real‑time grid monitoring and demand‑response systems, which have lowered peak‑load costs and improved resiliency.
International Collaboration: Montmener has forged partnerships with U.S. utilities and European energy firms to share best practices and coordinate cross‑border grid projects.

The Globe and Mail article cites a Bloomberg interview where Montmener explained his motivation for taking on the federal role: “Canada’s grid is in a pivotal moment. The next decade will see a massive surge in electric vehicle adoption and distributed generation. I am eager to apply Hydro‑Québec’s experience to help the entire country meet these challenges.”

The New Public Utility: Canada Power Corp.

The utility, officially named Canada Power Corp. (CPC), is a crown corporation set to replace the current Canada Energy Regulator’s role in overseeing transmission and distribution. CPC will own and operate an integrated network of high‑voltage transmission lines that currently span 80 % of Canada’s territory, as well as a portfolio of strategic storage facilities and a national “green‑grid” hub.

CPC’s mandate is twofold:

Reliability and Resilience – Ensuring a secure, uninterrupted power supply across Canada, with particular attention to rural and northern communities that are often underserved.
Sustainable Expansion – Facilitating the integration of renewables, particularly wind, solar, and hydro, into the national grid, and promoting the deployment of battery storage and advanced grid technologies.

According to the Ministry of Energy’s press release, CPC will be funded through a mix of federal investment, public‑private partnerships, and a modest carbon pricing mechanism that will help offset the costs of grid upgrades. The initiative is expected to create 15,000 jobs over the next ten years, with a focus on engineering, construction, and operations.

Political Reactions and Concerns

The appointment has sparked a mixed reaction in Parliament and across the political spectrum. Liberal MP Sophie Davis praised the move: “Bringing in an experienced, forward‑thinking CEO like Montmener is exactly what Canada needs. We can’t afford to lag in the energy transition.”

In contrast, Conservative MP Greg Patel warned of potential conflicts of interest: “While the experience is undeniable, the close ties between the former finance minister and the new utility could raise questions about regulatory independence. We must ensure a transparent and merit‑based process.”

The New Democratic Party (NDP) has called for an independent audit of CPC’s governance structure, arguing that the utility’s oversight must be free from political influence. “We support renewable integration, but the federal government must establish clear safeguards against cronyism,” said NDP leader Rachel Kim.

Industry Implications

Energy analysts suggest that CPC’s creation, coupled with Montmener’s leadership, could accelerate Canada’s shift to a clean grid. John Miller, a senior analyst at the Canadian Energy Research Institute, notes: “The integrated approach that CPC is set to take—combining transmission upgrades with storage and smart‑grid technologies—could shave several percentage points off the overall cost of electrification. It’s a bold but necessary step.”

The Canadian Renewable Energy Association (CREA) has expressed optimism, stating that CPC’s role will “provide the national coordination that has been missing for too long.” The association also highlighted the potential for increased investment in renewable projects, especially in underdeveloped regions of the country.

Looking Ahead

The timeline for CPC’s full operational launch is slated for 2027, with a phased rollout of the grid upgrades. Montmener will begin as CEO in the fall, initially overseeing the planning and procurement phases before taking on day‑to‑day operations.

While the appointment brings a wealth of experience and a strong commitment to renewables, the real test will be CPC’s ability to balance reliability, cost, and environmental stewardship. If the new utility can navigate these challenges successfully, it could set a new benchmark for how a national grid can serve both public interest and climate goals.

As the country watches, one thing is clear: Canada’s power future is on the cusp of a transformative shift, and the people at the helm of this transition will be closely scrutinized for their ability to deliver a grid that is resilient, affordable, and clean.

Read the Full The Globe and Mail Article at:
[ https://www.theglobeandmail.com/politics/article-politics-insider-carney-recruits-hydroquebec-ceo-to-head-public/ ]