The annual increase in electricity rates in the residential sector officially came into effect on Monday.
This increase from Hydro-Québec is, however, capped at 3%, as the state-owned company announced last January.
This price indexation, which was established by the provincial government last February, “is part of the targeted actions in the anti-inflation shield to limit the impact of the increase in the cost of living,” Quebec then indicated.
More concretely, this increase corresponds to $5.82 more per month for an average house and $2.35 more per month for a 5 1⁄2 type dwelling, according to Hydro Québec.
Less fortunate SMEs
If the increase has been capped for the population, this is not the case for small and medium-sized businesses (SMEs) who must juggle an adjustment of 5.1% on their bill.
A situation strongly denounced in particular by the Canadian Federation of Independent Business (CFIB).
“SMEs are already weakened by the labor shortage, rising costs and the pandemic debt they have accumulated. It is not for nothing that we are witnessing an increase in the number of business closures,” declared François Vincent, vice-president for Quebec at the CFIB last Thursday, recalling that several SMEs “are struggling to join the two ends at the end of each month.
“When we come to hope that this news is an April Fool’s joke, we see that there is something wrong,” he added.