A Rate Increase Below Inflation: Hydro-Québec Upholds Its Commitment
Hydro-Québec is upholding its commitment by keeping its electricity rate increase below inflation for the second year running. The Régie de l'énergie [Québec energy board] has released its decision approving a 0.7 % rate increase for all residential customers and most business customers, equivalent to 1 % under the rate of inflation, in 2017-2018.
For customers, the impact of the rate adjustment amounts to about $0.88/month for a small house and $1.75/month for a midsize house as of April 1.
Electricity rates are established in such a way as to generate sufficient revenue to recover the cost of providing electricity service to some 4.2 million customers throughout Québec. The rate increase authorized by the Régie is essentially due to the investments needed for transmission system asset sustainment, including replacing PK circuit breakers
Quebecers will continue to enjoy the lowest electricity rates in North America. In 2017-2018, they will pay half the price of customers in Toronto, and only a quarter of those in New York.
It should also be pointed out that over the last 20 years, electricity prices have increased more slowly than the prices of many consumer products, such as milk, eggs, public transit and insurance.
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