The bad news: Hydro Quebec is raising their rates again. It’s an annual event. But, the good news: the company will uphold its commitment to keep its increases below inflation.
This increase rate of 0.9% is for all residential customers. The same goes for most businesses, too. Though there’s an increase again, it’s below the expected inflation rate of 2%, so Quebecers are getting a break.
So how do the Hydro Quebec increases affect you?
As of April 1, 2019, an average 5 1/2 apartment heated with electricity will increase by a mere 32 cents!
For a midsize house, that translates into approximately $20 per year and just over $30 for a large home.
It costs about $12 billion to provide electricity to the over 4 million Quebec customers in the year. So the rates are established to recover those costs.
Still, even with the annual increases, we here in Quebec enjoy the lowest residential electricity rates in all of North America.
Montrealers pay about half the amount that Torontonians pay for electricity. And, we pay only quarter the amount when compared to Boston and New York!
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