Quebec Approves Energy Rate Hikes for Bitcoin Mining Firms

20/07/2018 | Categories: Bitcoin Betting | Published by: Tony

Bitcoin mining companies seeking to start a business in Quebec will currently need to pay even more for electricity. This is after the energy regulatory authority of the Canadian province, Régie de l'énergie, provided the region's utility firm, Hydro-Quebec, the consent to enforce a deterrent toll that will certainly see cryptocurrency miners paying double the rate that is levied on households and various other energy consumers. The rate for new cryptocurrency miners going into the province will now be 15 cents per kilowatt hour.

Making Sure Consistency in Supply

According to the Montreal Gazette, the new prices will apply till guidelines for the field are presented. The prices will, nevertheless, not relate to existing agreements yet will just affect deals that were inked after June 6 this year. The action is targeted at consistent supply, particularly throughout peak demand.

“The Régie thinks about that the conditions and rates … will make sure the safety of electrical energy supply in the context of enormous, sudden, unexpected and simultaneous needs for the use of blockchain technology, including mining cryptocurrencies,” composed Régie de l'énergie in a 45-page choice.