Abstract The hydrological processes of cascading hydroelectric reservoirs differ from those of lakes, due to the importance of the inflows and outflows that vary with energy demand. These heat and water advection terms are rarely considered in water body energy balance analyses even though reservoirs are common man-made structures, especially in North America, and thus may affect the regional climate. This study provides a comprehensive assessment of the water and energy balance of the 85-km2 Romaine-2 northern reservoir (50.69°N, 63.24°W), mean depth of 44 m, highlighting the significant contribution of the advection heat fluxes. The water balance input was primarily controlled by upstream (turbine) inflows (77.6%), while lateral (natural) inflows and direct precipitation represented 21.2% and 1.2%, respectively. As for the reservoir’s heat budget, the net advection of heat accounted on average for 25.0% of the input, of which net radiation was the largest component (73.3%). After accounting for the absence of energy balance closure, latent heat and sensible heat fluxes represented 73.2% and 25.1% of total energy output from the reservoir, respectively. The thermal regime was influenced by the hydrological flow conditions, which were regulated by reservoir management. This played a major role in the evolution of the thermocline and the temperature of the epilimnion, and ultimately, in the dynamics of the turbulent heat fluxes. This study suggests that the heat advection term represents a large fraction of the heat budget of northern reservoirs and should be properly considered.