Hydro-Quebec won't ask for rate hike next year
MONTREAL -
Hydro-Quebec Distribution will not file a rate adjustment application with the province’s energy board this year.
In a statement released on Friday the Crown Corporation said it wants current electricity rates to be maintained for another year, starting April 1. That is consistent with the recently tabled Bill 34, which guarantees lower electricity rates for Quebecers.
The bill also provides a $500 million rebate in 2020, half of which will go to residential customers while $190 million will go to commercial customers and another $60 million to industrial ones.
Hydro-Quebec said the 2020-21 rate freeze will generate savings of nearly $1 billion for its clients over the next five years.
Bill 34, which was tabled in June, also proposes to set rates based on inflation for the years 2021 to 2024. After 2025 Hydro-Quebec would have to ask the energy board to set new rates every five years, as opposed to the current annual system.
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NB Power signs three deals to bring more Quebec electricity into the province
FREDERICTION - NB Power and Hydro-Quebec have signed three deals that will see Quebec sell more electricity to New Brunswick and provide help with the refurbishment of the Mactaquac hydroelectric generating station.
Under the first agreement, Hydro-Quebec will export 47 terawatt hours of electricity to New Brunswick between now and 2040 over existing power lines — expanding on an agreement in place since 2012.
The second deal will see Hydro-Quebec share expertise for part of the refurbishment of the Mactaquac dam to extend the useful life of the generating station until at least 2068, when the 670 megawatt facility on the St.…
