Montréal, August 2, 2019
Hydro-Québec confirms its commitment to freezing electricity rates for the 2020–2021 rate year
Hydro-Québec will maintain current electricity rates for another year beginning April 1, 2020, under Bill 34, which will guarantee low electricity rates and simplify the rate-setting process.
Hydro-Québec Distribution will therefore not be filing a rate adjustment application with the Régie de l’énergie this year.
The 2020–2021 rate freeze will generate savings of close to $1 billion for our clients over the next five years. Bill 34 also provides for reimbursement of some $500 million to our customers in 2020.
The reimbursement will be applied to customers’ bills. Had there not been a rate freeze, customers would have seen an increase on the order of about 2%.
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