Hydro-Québec announced its introducing a rate-hike starting next year.
Starting April 1, 2025, a three per cent rate increase will be implemented for residential customers, 3.9 per cent for commercial customers and 3.3 per cent for large industrial customers.
The utility announced that it had filed these rate applications with the Régie de l’énergie on Thursday, who will study them before giving its approval.
In a press release, Hydro-Québec stated that the increases are due to “the result of inflation in recent years and are the same as those for 2024 for residential customers and large industrial customers.”
As for its commercial rates, the suggested increase is lower than it was for 2024, which was 5.1 per cent.
Hydro-Québec points out that a three per cent increase in the domestic rate would represent an increase of $2.40 for a dwelling. The impact would be $4.50 for a small house and $6.00 and $7.40 for a medium-sized house and a large house, respectively.
The public hearing and review by the Régie de l’énergie are scheduled to take place between September and December. The decision is expected by March at the latest.
At the same time as filing its applications, Hydro-Québec has also announced new incentives to encourage better consumption and lower electricity bills.
In particular, the company wants to launch a “voluntary incentive rate” for customers who shift their consumption, for example, by recharging their electric vehicle at night. Those who sign up could save up to $350 a year, according to Hydro-Québec.
They also want to control over-consumption by imposing a higher rate for households that consume more than 50,000 kWh per year. These represent around 1 per cent of residential customers, according to Hydro-Québec.
It also intends to facilitate energy production at home with solar panels and will encourage the installation of efficient heat pumps by increasing its energy efficiency budget from $150 million to $500 million by 2025.
–This report by La Presse Canadienne was translated by CityNews