Quebec to raise mining electricity prices, tariffs to be introduced

Quebec officials have raised electricity prices for blockchain companies (especially miners), charging around 15 cents per kilowatt-hour, which is now about three times the previous price.

Previously, Quebec's electricity prices were the lowest in North America, attracting a large number of mining companies, and with the increasing demand for electricity, many people asked the energy company Hydro-Quebec to increase its production capacity.

"We don't want to signal to the market that this is the price of electricity in Quebec, but rather that this is a response to a request for increased electricity production, which has no effect until the right regulatory framework for this market is in place," said Jonathan Cote, a spokesman for Hydro-Quebec. "The higher prices will remain in place for a few weeks until regulators come up with the right tariffs."