Royal prerogative of mercy

In the English and British tradition, the royal prerogative of mercy is one of the historic royal prerogatives of the British monarch, by which he or she can grant pardons (informally known as a royal pardon) to convicted persons. The royal prerogative of mercy was originally used to permit the monarch to withdraw, or provide alternatives to death sentences; the alternative of penal transportation to ''partes abroade'' has been used since at least 1617. It is now used to change any sentence or penalty. A royal pardon does not itself overturn a conviction.

Is this statement correct "does the queen have the power to pardon"?
yes