Hydro-Quebec: no rate increase in 2020
Hydro-Québec Distribution will not file a rate adjustment application with the Régie de l’énergie this year.
In a brief press release on Friday, the Crown says it wants the current electricity rates to be maintained for an additional year starting April 1, 2020. This would be consistent with Bill 34, which guarantees low rates. while simplifying the process used to fix them.
Bill 34 also provides for an accelerated rebate of $ 500 million in 2020, half of which to residential customers, $ 190 million to commercial customers and $ 60 million to industrial customers.
Hydro-Québec reports that the 2020-2021 rate freeze will generate savings of nearly $ 1 billion for its customers over the next five years.
Bill 34 tabled in June also proposed to freeze rates for the year 2020 and set rates based on the rate of inflation for the years 2021 to 2024. After 2025, Hydro-Québec will have to ask the Régie the energy to set new tariffs every five years and not every year as is currently the case.