In office for 105 days as the new Minister of Economy, Innovation and Energy at the time of our meeting on December 20, Christine Fréchette does not hide the fact that she has been quite busy since her appointment, which did not alter his optimism. She looks forward to the new year in a very positive way, despite the uncertainty that will arise when the new American president takes office.
Published at 5:00 a.m.
In rapid learning mode on the energy file and in catch-up mode for everything related to economic development, Christine Fréchette has not been idle since she was promoted to the rank of superminister on September 5.
“Pierre Fitzgibbon’s resignation didn’t surprise me, there were rumors, but it was the moment he did it that surprised me. I expected to be called upon, but not for all the responsibilities,” confides Christine Fréchette, between two meetings, on the Friday when she left for two weeks of well-deserved recovery.
“I need to recharge my batteries”, explains with a broad smile the minister who inherited the file of this famous sector…
Four days after her appointment, the new titular Minister of Energy had to spend two long weeks in parliamentary committee to discuss Bill 69 aimed at reforming the governance of Quebec’s energy resources.
“I was in learning mode and I’m glad I did it. It allowed me to meet all the players in the energy sector, in the same place, which would have taken me weeks otherwise. It was a great immersion,” said the minister.
Christine Fréchette is of the opinion that energy and economic development necessarily go hand in hand while Quebec is in a development phase, but that the energy supply is not at the same level as that of economic development.
PHOTO ROBERT SKINNER, THE PRESS
Christine Fréchette, Minister of Economy, Innovation and Energy
We need to move forward with new players in wind and solar power who are capable of bringing new energy capacities more quickly.
Christine Fréchette, Minister of Economy, Innovation and Energy
The minister does not think it was a mistake to grant large blocks of energy to foreign players like Northvolt while local companies were unable to obtain additional capacity.
“We need to move forward with new players, but we also need to support our Quebec players, we need to find a balance and I will keep that in mind. Fortunately, Quebec has just concluded a historic agreement with Newfoundland, which will secure a significant energy supply until 2075,” underlines the minister.
Beyond Trump
Christine Fréchette therefore looks forward to the new year with optimism, relying in particular on favorable indicators which show that in 2024, the confidence of Quebec consumers has increased by 5 points while that of SME managers has increased by 14 points.
“And the purchasing power of Quebecers is improving more compared to the rest of Canada, all of this will benefit the Quebec economy,” anticipates the Minister of the Economy.
One of its major priorities will therefore be to protect this favorable environment, the jobs of Quebecers and the economy of Quebec as a whole in relation to the actions that the new American administration could take.
“Our plan A is that there will be no customs tariffs, we will achieve this by strengthening the management of our borders. However, we are preparing to have to live with tariffs of 10 or 25% by discussing with our companies which could be affected. We will not arrive with wall-to-wall measures, but by carrying out targeted interventions,” suggests Christine Fréchette.
The minister recalled that Quebec’s diplomatic-economic network in the United States was strengthened by 20% over the last year in anticipation of the new administration that would be installed in Washington, whether Democratic or Republican. We knew that the protectionist threat could come from anywhere.
That said, Christine Fréchette intends to prioritize support and support for SMEs, noting that 94% of Investissement Québec’s interventions were with small and medium-sized Quebec businesses.
The Ministry of the Economy also wants to create as many connections as possible between large-scale projects, such as Hydro-Québec’s development plan, and our SMEs to enable them to expand and become our large companies. of tomorrow.
Have the serious difficulties experienced by Northvolt and Lion Électrique – two emblematic companies of the energy transition – altered its conviction that the battery sector will one day take the growth that we hoped for?
“The energy transition remains a fabulous springboard to enable Quebec to position itself internationally. We have 20 active projects in the battery sector and my ministry is in discussions with around a hundred companies linked to the battery sector.
“Growth in the electric vehicle sector has slowed and that is a good thing, because it was frantic and it was not sustainable for many companies,” said the minister.
Christine Fréchette is even of the opinion that this slowdown could be beneficial to the recovery process of our two emblematic companies in the sector which are still in difficulty. The year 2025 is likely to be exciting to watch.
