Hydro-Québec annual indexation of its electricity rates will take effect this Saturday, capped at 3 per cent.

The Crown corporation says that for residential customers, the monthly impact of the 3 per cent increase would be $2.28 for a five-and-a-half dwelling, $4.27 for a 111-square-metre home, $5.65 for a 158-square-metre home and $6.97 for a 207-square-metre home.

On Feb.15, the national assembly adopted Bill 2, which, among other things, caps the rate of indexation of Hydro-Québec's domestic distribution rates at 3 per cemt.

Rates for business customers will increase by 6.5 per cent, which reportedly corresponds to the change in the consumer price index in Quebec between Sept. 30, 2021 and Sept. 30, 2022.

The increase applicable to large industrial customers is set at 4.2 per cent.

In a press release published Friday, Hydro-Québec invited customers to consult its energy performance tool to examine their consumption and learn how to save.

It also suggests that they sign up for dynamic pricing to take advantage of savings in return for reduced electricity consumption during the coldest hours of the winter.

In addition, Hydro-Québec will maintain its suspension of administration fees for unpaid bills introduced during the COVID-19 crisis, provided that a payment agreement has been reached. 

This report by The Canadian Press was first published in French on March 31, 2023.