(Montreal) The annual increase in electricity rates, capped at 3% in residential areas, came into force on Monday in Quebec.
According to Hydro-Québec, this annual indexation means that the monthly electricity bill will increase by $2.35 for a five and a half room dwelling, by $4.39 for a house of 111 square meters, by 5.82 $ for a house of 158 square meters and $7.17 for a large house of 207 square meters.
In February 2023, the National Assembly adopted Bill 2, which made it possible to cap the price indexation rate of Hydro-Québec’s domestic distribution tariffs at 3%.
Rates for business customers increased by 5.1%. This increase corresponds to the variation in the Consumer Price Index in Quebec between September 30, 2022 and September 30, 2023, specified the state corporation.
This adjustment applies to all business rates, except the large power industrial rate, which increases by 3.3% instead.