The blockchain industry in Québec: Hydro-Québec proposes a selection process to the Régie de l’énergie

Hydro-Québec has submitted the main parameters for a selection process governing blockchain industry projects to the Régie de l’énergie. This action is in response to an Order-in-Council recently adopted by the government, which instructs the Régie de l’énergie to quickly address the conditions governing the sale of electricity to blockchain companies given the unprecedented request for hookups.

The goal of this process is to both maximize economic spinoffs for Québec and revenue for Hydro-Québec—in turn, pushing electricity rates down for customers. Subject to the approval of the Régie de l’énergie, a selection process would be launched to allocate a 500?MW block reserved for this industry in Québec. Proposals would be accepted based on the following criteria:

• Proposed increase to the price (¢/kWh) of the energy component of rates M or LG in effect, as applicable, with a minimum increase of 1¢/kWh.
• Maximizing economic spinoffs for Québec:
  • Number of direct jobs per MW
  • Total payroll of direct jobs in Québec per MW
  • Investments per MW

The economic analysis will favor customers who will be ready to operate their facilities as quickly as possible. In addition, Hydro-Québec could request that these customers decrease their electricity use, for a maximum of 300 hours per year, to allow it to ensure the delivery of electricity to all of its customers, particularly during the winter peak period.

To consult the docket (in French only), visit the Régie de l’énergie’s Web site.