Hydro-Quebec, a utility company the canadian province of Quebec introduced new regulations of energy consumption for local blockchain-companies. The distribution of MW of the allocated unit will be based on the increased cost of 1 kW/h, and the number of new jobs created in the province, and the investment contribution to the economy of Quebec.
According to the draft rules, in addition to 120 megawatts already allocated to Hydro-Quebec for the blockchain sector, will create a pool of 500 megawatts. In order to connect to the pool, the company should at least offer to increase the electricity rate for one canadian cent ($0.0075) per kWh — that is, 20% of standard tariff for industrial use.
Now the draft plan is under consideration by the local authority for the regulation of the energy sector, the Regie de l’energie. In a press release, Hydro-Quebec said:
“The purpose of this process — first, increase revenues to the Treasury of Quebec and the profits Hydro-Quebec, and the second is to reduce the cost for the end user”.
The new rules of consumption are included in the series of regulatory changes in québec in relation to cryptocurrency mining. In March, the province stated that it was not interested in providing cheap electricity to the miners without mutual benefit. The Prime Minister of Quebec Philip Kuyar (Philippe Couillard) said:
“There must be added value for society; I do not see this value in servers employed in mining transactions and mining new bitcoins”.
In may, the government of Quebec announced its intention to lift the moratorium on the supply of electricity cryptocurrency miners, not to miss the trend. Energy Minister Pierre Moreau (Pierre Moreau) is going to submit a decree on the regulation of sales of electricity to cryptotermes with high power consumption. The decree was to establish a rate schedule and to allow vendors to resort to forced discharge.
Recall that currently in Quebec still has a moratorium on approval of new projects in mining.
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