To encourage investment and new economic development projects, the Québec government has announced a 20% discount on regulated electricity rates for industrial customers with big power needs.
The rate reduction will apply to the regular L rate of 4.8 cents a kilowatt-hour and remain in effect for 10 years. It will apply only to new projects with power requirements of at least one megawatt. To qualify, the project’s electricity costs must represent at least 10% of the company’s total operating costs.
If accepted by the Régie de l’énergie, the new rate could give a boost to industries that are large power users, including metallurgy and steel, copper, zinc and nickel processing.
Québec is the world’s fourth largest hydroelectricity producer , and its power grid is not only the biggest in North America but also one of the most reliable. Québec’s clean, renewable and affordable energy is a major asset and gives the province a definite competitive edge.
Contact the business development director in your region for more information on electricity rates in Québec.