What to expect for his electricity bills in 2023?
On February 15, the Quebec government blocked the maximum increase in Hydro-Quebec’s rates at 3%. This is the increase to be expected for April 1, after a record year for the Crown corporation.
Hydro-Québec provided Narcity with estimates of what such an increase would represent per month depending on the type of dwelling.
For a 5 1/2 of 68 m2, you must prepare for an increase of $2.28 per month, that's $27.36 more for the year. For a 111 m2 house, expect $4.27 per month; at $5.65 for a 158 m2 house; and $6.97 for a 207 m2 residence.
Last year, Hydro-Québec’s price increase was 2.6%. The 3% cap was done with the aim of limiting the effects of inflation on the rise in the cost of living, since prices could have risen more otherwise.
The 3% cap % follows the upper rate of the inflation control range determined by the Bank of Canada.
The government’s decision also removes Hydro-Québec’s obligation to serve all industrial projects of less than 50 megawatts; from now on, the government, in collaboration with Hydro-Québec, will select high-power projects, that is, 5 megawatts or more.
“We must allocate our energy wisely, in order to to meet our decarbonization objectives while developing our strategic sectors”, commented Pierre Fitzgibbon, Minister of Economy, Innovation and Energy.