Quebec wants to raise electricity tax for miners

Quebec wants to raise electricity tax for miners

February 21, 2018

The growth in demand for relatively inexpensive electricity in Quebec among miners can provoke an increase in tariffs for its consumption.

Hydro-Quebec announced today that the issue of increasing the cost of electricity in the region is being discussed. Such an initiative may disrupt the plans of the miners using low rates of Quebec to their advantage.

According to the representative of the state-owned company, because of the huge number of requests for the location of the mining centers in Montreal, they had questions about whether the region can afford such spending.

Hydro-Quebec tries to squeeze the miners

Despite the fact that now the Hydro-Quebec energy reserve is more than sufficient, the influx of miners to Quebec can significantly reduce it. This situation forced the company to raise the rate for network overvoltage.

The initiative can be seen as a tricky move by the company, as some of the miner projects have a throughput of up to 100 mW, which is already significantly higher than the average Canadian family, reports CCN.

Author: Vasilisa Ming, Analyst Freedman Club Crypto News

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