Montréal, January 24, 2024

Press Release

Electricity rate increase on April 1, 2024

On April 1, 2024, electricity rates will be adjusted under applicable law.

Residential and farm customers

In accordance with the announcement by the Québec government when Bill 2 was adopted in February 2023, the indexation rate for domestic distribution rate prices applicable to residential and farm customers is capped at 3%.

Business customers

Under the Act to simplify the process for establishing electricity distribution rates, the rates for business customers will increase to reflect the change in the Consumer Price Index (CPI) in Québec between September 30, 2022, and September 30, 2023, excluding alcoholic beverages, tobacco products and recreational cannabis.

The adjustment of 5.1% will apply to all business rates, except the large-power industrial rate (Rate L). For this rate, the Régie de l’énergie will rule later on a 3.3% increase, in accordance with the increases of recent years*. The Hydro-Québec Act provides that increases to the large-power industrial rate (Rate L) be determined by an inflation rate set by the Régie de l’énergie.

*On February 21, 2024, after this press release was published, the 3.3% increase in Rate L was approved by the Régie de l'énergie.



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