Hydro rates increase
Hydro-Quebec rates are rising 3%, and that’s no April Fool.
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Kate
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Ian 12:58 on 2024-04-01 Permalink
Lovely that all these government-owned enterprises are sympathetic to the burden of inflation on the people.
You would think nationalized companies would be profit-neutral but apparently 1.5 billion for the SAQ isn’t enough and neither is 2.5 billion for 2023 from Hydro.
“In 2023, Hydro-Québec supplied 200.3 TWh to Québec and neighboring markets. Thanks to our net income of $3.3 billion, compared to $4.6 billion in 2022, a dividend of $2.5 billion will be paid to its sole shareholder, the Québec government.” (my bold)
pdf link
JaneyB 20:46 on 2024-04-01 Permalink
Legault wants to sell our hydro to the Northeast states where it will fetch a higher price. He’ll keep pushing increases until there is a real outcry here. That may be a while though since restaurants continue to be full and the food delivery apps that double the cost of dinner are doing well.