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Quebec's electricity supplier wants to sell less energy to miners in the future

 


Hydro-Québec, the main electricity supplier in the Canadian province of Quebec, wants to renegotiate the power distribution to mining companies.


Canadian politician Pierre Fitzgibbon tweeted Nov. 3 that the province's government wants to get a decree from the Energy Committee that would exempt the utility from the obligation to distribute electricity to mining companies in the region. Hydro-Québec currently provides 270 megawatt-hours to mining companies, but demand in the province is expected to increase so much that providing that power to miners could become a bottleneck for the electric utility.


Accordingly, Hydro-Québec submitted a report to the government's Energy Committee on November 1 , stating that the temporary reduction in power to be sold to mining companies could help improve "the reliability and security" of electricity supply to the people of Quebec to guarantee.


“The additional energy needs in winter are high, and this, without the addition of the load related to the balance of the block reserved for cryptographic use applied to blockchains,” said Hydro-Québec. “There are anticipated energy purchases of nearly 3 [terawatt-hours] in winter from 2025 and even exceeding 3 TWh in 2027.”

According to the energy supplier's estimates for 2023 to 2032, the demand from crypto miners will increase by 0.7 TWh annually and will reach the maximum demand volume from 2028. The mining companies in the province of Quebec have had to pay higher taxes since March 2021 and assure the state government that they will reduce their own demand if necessary to prevent the electricity grid from being overloaded.

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