Hydro-Quebec said yesterday it will increase its electricity rates by 5.3 per cent - nearly double the national inflation rate of 2.8 per cent - effective April 1.
src: The Montreal Gazette
The reason for the increase is given on the Quebec Energy Agency website:
For 2006, the Distributor’s revenue requirement is $10,051 million, necessitating additional revenues of $463 million and therefore an average rate increase of 5.3% for the 2006-2007 rate year.The increase is to cover its capital and operating costs that have reached 11 cents/kWh because electricity demand has soared in Quebec.
Quebec energy electricity Peak+Oil