2024-05-21 04:00:00
The massive investments deliberate by Hydro-Québec will improve the electrical energy invoice of small companies by 247%, in line with the CFIB.
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Hydro-Québec’s motion plan, which plans investments between $155 and $185 billion by 2035, will lead to price will increase for all prospects over the interval 2025-2035. However SMEs pays disproportionately, in line with a examine launched Tuesday by the Canadian Federation of Impartial Enterprise (CFIB).
The worth improve will likely be 5.7% per yr on common for all shoppers, in line with the examine. However as a result of the federal government limits annual will increase for residential charges to three%, and enormous industrialists ought to have far more average will increase, SMEs will likely be in command of the invoice, in line with the CFIB.
For them, we’re then speaking about value will increase on common of 8.6% per yr between 2025 and 2035, in line with the examine.
“For a month-to-month invoice of $1,000 in 2024, it would value a invoice of $2,474 in 2035. Over 12 months, we’ll go from a invoice of, for instance, $12,000 to greater than $29,000,” says François Vincent, vice-president for Quebec on the CFIB.
“It’ll damage SMEs, and residents too. As a result of in the end, when the SME has a rise in prices, its first response is to extend the price of its merchandise,” he says.
Critical will increase
For the second yr in a row, Quebec SMEs have been hit by a big improve of their electrical energy payments, not like giant industrialists.
Hydro-Québec set the rise in business charges at 5.1% which took impact on April 1. In April 2023, SMEs had already elevated electrical energy costs by 6.4%. They pay greater than 10 cents per kilowatt hour (kWh).
Massive industrialists pay the L price at 5.05 cents per kWh, however additionally they profit from a 20% low cost, which reduces their price to 4.04 cents per kWh. Residential prospects pay 8.48 cents per kWh.
The Régie should resume its function
So the rise for SMEs wouldn’t be so extreme if different shoppers helped equally, says the CFIB.
The group would additionally just like the Régie de l’énergie to renew its earlier function. “By exempting Hydro-Québec from a strict annual evaluation by the Régie, the federal government has opened the way in which for important price will increase for SME house owners and particularly for the politics of electrical energy charges,” emphasizes François Vincent.
“If we need to have a vibrant financial system, we can’t get there by transferring value shocks to small companies throughout Quebec,” he concludes.
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