With fears of a recession on the horizon, the Minister of Economy and Energy, Pierre Fitzgibbon, “stays on the alert” and opens the door to assistance for small businesses (SMEs), if necessary. However, their electricity rates will increase by 6.5% on Saturday, as expected.
Rates for Hydro-Québec business customers will increase by 6.5% on Saturday to take inflation into account. The increase is criticized by the Canadian Federation of Independent Business (CFIB), which is asking the government to cap the indexation of electricity rates at 3% for SMEs and households.
Electricity is only one lever among many others on which the government can intervene, responds Mr. Fitzgibbon, on the sidelines of an announcement in Montreal on Friday. “You have to look at the work as a whole. »
The minister says he remains “on the lookout” in a context of economic uncertainty. “Recession or not, we are not sure yet. You have to be awake. Me, I watch the borrowing rate a lot. I look at SMEs that are having difficulties. There are no programs yet that we want to announce, but we are aware, we are on the lookout. »
The Minister does not believe that electricity tariffs are the best way to intervene. “Electricity rates: I don’t think we’re going to go there. Honestly, we still have the lowest rates in Canada. However, there are other mechanisms that can be put in place, if necessary. »