Good news for Hydro-Québec customers: the Crown Corporation will freeze its rates for 2020 starting in April, and they will then be indexed to inflation for the following 4 years. Plus, $500 million in refunds will be issued to consumers who held accounts in 2018 and 2019.
The news comes after the Quebec government passed Bill 34 under closure over the weekend. Critics say Quebeckers will end up paying more in the long run under this new system, because the old system kept rate increases artificially low, under 2%.
Starting in 2025, Quebec’s energy board will review Hydro-Québec’s rates every 5 years.
Hydro-Québec came under fire in recent years for overcharging customers. The government pledged to reimburse $1.5 billion, but now explains that the remaining $1 billion will be used to reinvest in daycares, reduce school taxes and increase family benefits.
How it will Work
Current account holders who are entitled to a refund will receive a credit that will automatically be applied to their next Hydro bill. The average amount is expected to be around $60 for residential customers, but the exact figures will be released in January.
If you had an account in 2018 or 2019 but no longer have one, you’re still entitled to a refund. You’ll need to communicate with Hydro-Québec and provide your current address in order to receive a cheque. You can fill out this online form or call 514-385-7252 or 1-888-385-7252.