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Hydro-Québec Bill 34 Refund issues $535M customer credits tied to electricity rates, consumption-based rebates, and variance accounts, averaging $60 per account and 2.49% of 2018-2019 usage, via bill credits or mailed cheques.

Key Points

A $535M credit refunding 2.49% of 2018-2019 usage to Hydro-Québec customers via bill credits or cheques.

✅ Applies to 2018-2019 consumption; average refund about $60.

✅ Current customers get bill credits; former customers receive cheques.

✅ Refund equals 2.49% of usage from variance accounts under prior rates.

Following the adoption of Bill 34 in December 2019, a total amount of $535 million will be refunded to customers who were Hydro-Québec account holders in 2018 or 2019. This amount was accumulated in variance accounts required under the previous rate system between January 1, 2018, and December 31, 2019.

If you are still a Hydro-Québec customer, a credit will be applied to your bill in the coming weeks, and improving billing layout clarity is a focus in some provinces as well. The amount will be indicated on your bill.

An average refund amount of $60. The refund amount is calculated based on the quantity of electricity that each customer consumed in 2018 and 2019. The refund will correspond to 2,49% of each customer's consumption between January 1, 2018, and December 31, 2019, for an average of approximately $60, while Ontario hydro rates are set to increase on Nov. 1.

The following chart provides an overview of the refund amount based on the type of home. Naturally, the number of occupants, electricity use habits and features of the home, such as insulation and energy efficiency, may have a significant impact on the amount of the refund, and in other provinces, oversight debates continue following a BC Hydro fund surplus revelation.

What if you were an account holder in 2018 or 2019 but you are no longer a Hydro-Québec customer?
People who were account holders in 2018 or 2019, but who are no longer Hydro-Québec customers will receive their credit by cheque, a lump sum credit approach seen elsewhere.

To receive their cheque, these people must get in touch to update their address in one of the following ways:  

If they have a Hydro-Québec Customer Space and remember their access code, they can update their profile.

Anyone without a Customer Space or who doesn't remember their access code can fill out the Request for a credit form at the following address: www.hydroquebec.com/credit in which they can indicate the address where they wish to receive their cheque, where applicable.

Those who cannot send us their address online can call 514 385-7252 or 1 888 385-7252 to give it to a customer services representative, as utilities like Hydro One have moved to reconnect customers in some cases. Note that the process will take longer on the phone, especially if the call volume is high.

UPDATE: Hydro-Québec will be returning an additional $35 million to customers under the adoption of Bill 34, amid overcharging allegations reported elsewhere.

Energy Minister Jonatan Julien announced on Tuesday that the public utility will be refunding a total of $535 million to customers between January and April.

The legislation, which was passed in December, allows the Quebec government to take control of the rates charged for electricity in the province, including decisions on whether to seek a rate hike next year under the new framework.

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Saudi Arabia Wind Power Market set to lead the Middle East, driven by Vision 2030 renewables goals, REPDO tenders, and PIF backing, adding 6.2GW wind capacity by 2028 alongside solar PV diversification.

Key Points

It is the emerging national segment leading Middle East wind growth, targeting 6.2GW by 2028 under Vision 2030 policies.

✅ Adds 6.2GW, 46% of regional wind capacity by 2028

✅ REPDO tenders and PIF funding underpin pipeline

✅ Targets: 16GW wind, 40GW solar under Vision 2030

Saudi Arabia will become a regional heavyweight in the Middle East's wind power market adding over 6GW in the next 10 years, according to new research by Wood Mackenzie Power & Renewables.

The report – 'Middle East Wind Power Market Outlook, 2019-2028’ – said developers will build 6.2GW of wind capacity in the country or 46% of the region’s total wind capacity additions between 2019 and 2028.

Wood Mackenzie Power & Renewables senior analyst Sohaib Malik said: “The integration of renewables in Vision 2030’s objectives underlines strong political commitment within Saudi Arabia.

“The level of Saudi ambition for wind and solar PV varies significantly, despite the cost parity between both technologies during the first round of tenders in 2018.”

Saudi Arabia has set a 16GW target for wind by 2030 and 40GW for solar, plans to solicit 60 GW of clean energy over the next decade, Wood Mackenzie added.

“Moving forward, the Renewable Energy Project Development Office will award 850MW of wind capacity in 2019, which is expected to be commissioned in 2021-2022, and increase the local content requirement in future tendering rounds,” Malik said.

However, Saudi Arabia will fall short of its current 2030 renewables target, despite growth projections and regional leadership, the report said.

Some 70% of the renewables capacity target is to be supported by the Public Investment Fund (PIF), the Saudi sovereign wealth fund, while the remaining capacity is to be awarded through REPDO.

“A central concern is the PIF’s lack of track record in the renewables sector and its limited in-house sectoral expertise,” said Malik

“REPDO, on the other hand, completed two renewables request for proposals after pre-developing the sites,” he said.

PIF is estimated to have $230bn of assets – targeted to reach $2 trillion under Vision 2030 – driven by investments in a variety of sectors ranging from electric vehicles to public infrastructure, Wood Mackenzie said.

“There is little doubt about the fund’s financial muscle, however, its past investment strategy focused on established firms in traditional industries,” Malik added.

“Aspirations to develop a value chain for wind and PV technologies locally is a different ball game and requires the PIF to acquire new capabilities for effective oversight of these ventures,” he said.

The report noted that regional volatility is expected to remain, with strong positive growth, driven by Jordan and Iran in 2018 expected to reverse in 2019, and policy shifts, as in Canada’s scaled-back projections, can influence outcomes.

Post-2020 Wood Mackenzie Power & Renewables sees regional demand returning to steady growth as global renewables set more records elsewhere.

“In 2018, developers added 185MW and 63MW of wind capacity in Jordan and Iran, respectively, compared to 53MW of capacity across the entire region in 2017, following a record year for renewables in 2016,” said Malik.

“The completion of the 89MW Al Fujeij and the 86MW Al Rajef projects in 2018 indicates that Jordan has 375MW of the region’s operational 675MW wind capacity.

“Iran followed with 278MW of installed capacity at the end of 2018. A slowdown in 2019 is expected, as project development activity softens in Iran.

“Additionally, delays in awarding the 400MW Dumat Al Jandal project in Saudi Arabia will limit annual capacity additions to 184MW.”

He added that a maturing project pipeline in the region supports the 2020-2021 outlook, even as wind power grew despite Covid-19 globally.

“Saudi Arabian demand serves as the foundation for regional demand. Regional demand diversification is also occurring, with Lebanon set to add 200-400MW to its existing permitted capacity pipeline of 202MW in 2019,” he said

“These developments pave the way for the addition of 2GW of wind capacity between 2019 and 2021.”

Wood Mackenzie Power & Renewables added that the outlook for solar in the region is “much more positive” than wind.

“Compared to only 6GW of wind power capacity, developers will add 53GW of PV capacity through 2024,” said Malik.

He added: “Solar PV, supported by trends such as China’s rapid PV growth in 2016, has become a natural choice for many countries in the region, which is endowed with world class solar energy resources.

“The increased focus on solar energy is demonstrated by ambitious PV targets across the region.”

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Mercury Energy Tilt Renewables acquisition signals a trans-Tasman energy push as PowAR and Mercury split assets via a scheme of arrangement, offering $7.80 per share and a $2.96b valuation across Australia and New Zealand.

Key Points

A PowAR-Mercury deal to buy Tilt Renewables, splitting Australian and New Zealand assets via a court-approved scheme.

✅ $7.80 per share, valuing Tilt at $2.96b

✅ PowAR takes AU assets; Mercury gets NZ business

✅ Infratil and Mercury to vote for the scheme

Mercury Energy and an Australian partner appear to have won the race to buy Tilt Renewables, an Australasian wind farm developer which was spun out of TrustPower, bidding almost $3 billion, amid wider utility consolidation such as the Peterborough Distribution sale to Hydro One.

Yesterday Tilt Renewables announced that it had entered a scheme implementation agreement under which it was proposed that PowAR would acquire its Australian business and Mercury would acquire the New Zealand business, mirroring cross-border approvals where U.S. antitrust clearance shaped Hydro One's bid for Avista.

Conducted through a scheme of arrangement, Tilt shareholders will be offered $7.80 a share, valuing Tilt at $2.96b.

Yesterday morning shares in Tilt opened about 18 per cent up at $7.65, though regulatory outcomes can swing valuations as seen when Hydro One-Avista reconsideration of a U.S. order came into play.

In early December Infratil, which owns around two thirds of Tilt's shares, announced it was undertaking a review of its investment after receiving approaches, with investor sentiment sensitive to governance shifts as when Hydro One shares fell after leadership changes in Ontario.

According to a report in the Australian Financial Review, the transtasman bid beat out other parties including ASX-listed APA Group, Canadian pension fund CDPQ and Australian fund manager Infrastructure Capital Group, as Canadian investors like Ontario Teachers' Plan pursue similar infrastructure deals.

“This compelling acquisition proposal is a result of Tilt Renewables’ constant focus on delivering long-term value for shareholders and the board is pleased that, with these new owners, the transition to renewables in Australia and New Zealand will continue to accelerate,” Tilt’s chairman Bruce Harker said.

Comparable community-led clean energy partnerships, such as initiatives with British Columbia First Nations highlighted in clean-energy generation, underscore the broader momentum.

Just prior to the announcement, Tilt shares had been trading for less than $4. Such repricing reflects how utilities can face perceived uncertainties, as one investor argued too many unknowns at the time.

Mercury is already Tilt’s second largest shareholder, at just under 20 per cent. Both Infratil and Mercury have agreed to vote in favour of the scheme. The deal values Tilt’s New Zealand business at $770m, however the value of Mercury’s existing shareholding is around $585m, meaning the company will increase debt by around $185m.

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Rio Tinto Off-Grid Solar Power Plant showcases renewable energy at the Diavik Diamond Mine in Canada's Northwest Territories, cutting diesel use, lowering carbon emissions, and boosting remote mining resilience with advanced photovoltaic technology.

Key Points

A remote solar PV plant at Diavik mine supplying clean power while cutting diesel use, carbon emissions, and costs.

✅ Largest off-grid solar in Northwest Territories

✅ Replaces diesel generators during peak solar hours

✅ Enhances sustainability and lowers operating costs

In a significant step towards sustainable mining practices, Rio Tinto has completed the largest off-grid solar power plant in Canada’s Northwest Territories. This groundbreaking achievement not only highlights the company's commitment to renewable energy, as Canada nears 5 GW of solar capacity nationwide, but also sets a new standard for the mining industry in remote and off-grid locations.

Located in the remote Diavik Diamond Mine, approximately 220 kilometers south of the Arctic Circle, Rio Tinto's off-grid solar power plant represents a technological feat in harnessing renewable energy in challenging environments. The plant is designed to reduce reliance on diesel fuel, traditionally used to power the mine's operations, and mitigate carbon emissions associated with mining activities.

The decision to build the solar power plant aligns with Rio Tinto's broader sustainability goals and commitment to reducing its environmental footprint. By integrating renewable energy sources like solar power, a strategy that renewable developers say leads to better, more resilient projects, the company aims to enhance energy efficiency, lower operational costs, and contribute to global efforts to combat climate change.

The Diavik Diamond Mine, jointly owned by Rio Tinto and Dominion Diamond Mines, operates in a remote region where access to traditional energy infrastructure is limited, and where, despite lagging solar demand in Canada, off-grid solutions are increasingly vital for reliability. Historically, diesel generators have been the primary source of power for the mine's operations, posing logistical challenges and environmental impacts due to fuel transportation and combustion.

Rio Tinto's investment in the off-grid solar power plant addresses these challenges by leveraging abundant sunlight in the Northwest Territories to generate clean electricity directly at the mine site. The solar array, equipped with advanced photovoltaic technology, which mirrors deployments such as Arvato's first solar plant in other sectors, is capable of producing a significant portion of the mine's electricity needs during peak solar hours, reducing reliance on diesel generators and lowering overall carbon emissions.

Moreover, the completion of the largest off-grid solar power plant in Canada's Northwest Territories underscores the feasibility and scalability of renewable energy solutions, from rooftop arrays like Edmonton's largest rooftop solar to off-grid systems in remote and resource-intensive industries like mining. The success of this project serves as a model for other mining companies seeking to enhance sustainability practices and operational resilience in challenging geographical locations.

Beyond environmental benefits, Rio Tinto's initiative is expected to have positive economic and social impacts on the local community. By reducing diesel consumption, the company mitigates air pollution and noise levels associated with mining operations, improving environmental quality and contributing to the well-being of nearby residents and wildlife.

Looking ahead, Rio Tinto's investment in renewable energy at the Diavik Diamond Mine sets a precedent for responsible resource development and sustainable mining practices in Canada, where solar growth in Alberta is accelerating, and globally. As the mining industry continues to evolve, integrating renewable energy solutions like off-grid solar power plants will play a crucial role in achieving long-term environmental sustainability and operational efficiency.

In conclusion, Rio Tinto's completion of the largest off-grid solar power plant in Canada's Northwest Territories marks a significant milestone in the mining industry's transition towards renewable energy. By harnessing solar power to reduce reliance on diesel generators, the company not only improves operational efficiency and environmental stewardship but also adds to momentum from corporate power purchase agreements like RBC's Alberta solar deal, setting a positive example for sustainable development in remote regions. As global demand for responsible mining practices grows, initiatives like Rio Tinto's off-grid solar project demonstrate the potential of renewable energy to drive positive change in resource-intensive industries.

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German Energy Price Brakes harness price signals in a market-based policy, cutting gas consumption, preserving industrial output, and supporting CO2 reduction, showcasing Germany's resilience and adaptation while protecting households and businesses across Europe.

Key Points

Fixed-amount subsidies preserving price signals to curb gas use, shield consumers, and sustain industrial output.

✅ Maintains incentives via market-based price signals

✅ Cuts gas consumption without distorting EU markets

✅ Protects households and industry while curbing CO2

German industry and society are once again proving much more resilient and adaptable than certain people feared. Horror scenarios of a dangerous energy rationing or a massive slump in our economy have often been bandied about. But we are nowhere near that. With a challenging year just behind us, this is good news — not only for Germany, but also for Europe, where France-Germany energy cooperation has strengthened solidarity.

Companies and households reacted swiftly to the sharp increases in energy prices, in line with momentum in the global energy transition seen across markets. They installed more efficient heating or production facilities, switched to alternatives and imported intermediate products. The results are encouraging: German households and businesses have reduced gas consumption significantly, despite recent cold weather. From the start of the war in Ukraine to mid-December industrial gas consumption in Germany was (temperature-adjusted) around 20 per cent lower than the average level for the preceding three years. Even if some firms have cut back production, especially in energy-intensive sectors, industrial output as a whole has only fallen by about 1 per cent since the start of 2022. Added to this, in a survey released by the Ifo institute in November, over a third of German companies saw the potential to reduce gas consumption further without endangering output.

Instead of imposing excessive laws and regulations, we have relied on price signals and the prudence of market participants to create the right incentives and reduce gas consumption, as falling costs like record-low solar power prices continue to reinforce those signals across sectors.

We will follow this approach in coming months, when energy savings will remain important, even as the EU electricity outlook anticipates sharply higher demand by 2050. Our latest relief measures will not distort price signals. To this end, the Bundestag approved gas and electricity price brakes in its final session in 2022. They are designed to function without any intervention in markets or prices. This system will pay out a fixed amount relative to previous years’ consumption and the current difference to a reference price — regardless of current consumption.

Energy price brakes are the main component of Germany’s “protective shield”, which makes up to €200bn available for measures in 2022 to 2024. Seen in relation to the German economy’s size, its past heavy reliance on Russian energy imports and the fact that the measures will expire in 2024, these are balanced and expedient mechanisms. In contrast to instruments used in other countries, our new arrangements will not affect the price formation process driven by supply and demand, or on incentives to save gas. Companies and households will continue to save the full market price when they reduce consumption by a unit of gas or electricity. In this way, the price brakes also avoid the creation of additional demand for gas at the expense of consumers in other European countries, even as Europe’s Big Oil turning electric signals broader structural shifts in energy markets. No one need fear that competition will be distorted or that gas will be bought up. Indeed, a recent IMF working paper on cushioning the impact of high energy prices on households explicitly praises the German energy price brakes.

Current developments confirm the effectiveness of a market-based approach — and show that we should also rely on price signals when it comes to reducing CO₂ emissions, as suggested by IEA CO2 trends in recent years. Last year, households and companies had only a few weeks to adapt, yet we have already seen a strong response. The effect of CO₂ prices can be even stronger, as adaptation is possible over a much longer time and they additionally affect expectations and long-term decisions. Regulatory interventions and subsidy schemes, even if well targeted, cannot compete with market co-ordination and incentives that support individual decision-making and promote innovation.

Europe and Germany can weather this crisis without a collapse in industrial production. We also have an opportunity to deal efficiently with the move to climate neutrality, aligned with Germany’s hydrogen strategy for imported low-carbon fuels. In both cases, we should have confidence in price signals as well as in the power of people and business to innovate and adapt.

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Maritime Link HVDC Transmission connects Newfoundland and Nova Scotia to the North American grid, enabling renewable energy imports, subsea cable interconnection, Muskrat Falls hydro power delivery, and lower carbon emissions across Atlantic Canada.

Key Points

A 500 MW HVDC intertie linking Newfoundland and Nova Scotia to deliver Muskrat Falls hydro power.

✅ 500 MW capacity using twin 170 km subsea HVDC cables

✅ Interconnects Newfoundland and Nova Scotia to the North American grid

✅ Enables Muskrat Falls hydro imports, cutting CO2 and costs

For the first time, electricity has been sent between Newfoundland and Nova Scotia through the new Maritime Link.

The 500-megawatt transmission line — which connects Newfoundland to the North American energy grid for the first time and echoes projects like the New England Clean Power Link underway — was tested Friday.

"This changes not only the energy options for Newfoundland and Labrador but also for Nova Scotia and Atlantic Canada," said Rick Janega, the CEO of Emera Newfoundland and Labrador, which owns the link.

"It's an historic event in our eyes, one that transforms the electricity system in our region forever."

'On time and on budget'

It will eventually carry power from the Muskrat Falls hydro project in Labrador, where construction is running two years behind schedule and $4 billion over budget, a context in which the Manitoba Hydro line to Minnesota has also faced delay, to Nova Scotia consumers. It was supposed to start producing power later this year, but the new deadline is 2020 at the earliest.

The project includes two 170-kilometre subsea cables across the Cabot Strait between Cape Ray in southwestern Newfoundland and Point Aconi in Cape Breton.

The two cables, each the width of a two-litre pop bottle, can carry 250 megawatts of high voltage direct current, and rest on the ocean floor at depths up to 470 metres.

This reel of cable arrived in St. John's back in April aboard the Norwegian vessel Nexans Skagerrak, after the first power cable reached Nova Scotia earlier in the project. (Submitted by Emera NL)

The Maritime Link also includes almost 50 kilometres of overland transmission in Nova Scotia and more than 300 kilometres of overland transmission in Newfoundland, paralleling milestones on Site C transmission work in British Columbia.

The link won't go into commercial operation until January 1.

Janega said the $1.6-billion project is on time and on budget.

"We're very pleased to be in a position to be able to say that after seven years of working on this. It's quite an accomplishment," he said.

This Norwegian vessel was used to transport the 5,500 tonne subsea cable. (Submitted by Emera NL)

Once in service, the link will improve electrical interconnections between the Atlantic provinces, aligning with climate adaptation guidance for Canadian utilities.

"For Nova Scotia it will allow it to achieve its 40 per cent renewable energy target in 2020. For Newfoundland it will allow them to shut off the Holyrood generating station, in fact using the Maritime Link in advance of the balance of the project coming into service," Janega said.

Karen Hutt, president and CEO of Nova Scotia Power, which is owned by Emera Inc., calls it a great day for Nova Scotia.

"When it goes into operation in January, the Maritime Link will benefit Nova Scotia Power customers by creating a more stable and secure system, helping reduce carbon emissions, and enabling NSP to purchase power from new sources," Hutt said in a statement.

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