Hydro rates increased in Montreal

The annual increase in residential electricity rates capped at three per cent in Quebec on Monday.

According to Hydro-Quebec, this annual adjustment means that the monthly electricity bill will increase by $2.35 for a five-and-a-half-room home, $4.39 for a 111-square-metre house, $5.82 for a 158-square-metre home and $7.17 for a 207-square-metre house.

In February 2023, the National Assembly passed Bill 2, which capped the price indexation rate for Hydro-Québec’s domestic distribution rates at 3 per cent.

However, rates for small businesses will rise by 5.1 per cent.

This increase corresponds to the change in the Consumer Price Index in Quebec between Sept. 30 2022 and Sept. 30 2023, said Hydro-Quebec.

This adjustment applies to all business rates, except for large businesses, which will see an increase by 3.3 per cent.

This report by La Presse Canadienne was translated by CityNews.