The government of Quebec is planning to lift the ban on the sale of electricity to cryptocurrency miners, Le Journal de Montreal reported yesterday.
Pierre Moreau, the Minister of Energy, presented a roadmap outlining the regulation of energy sales to miners, who require high amounts of electricity from Hydro-Quebec’s surplus.
According to a quote from the Parliamentary Office, “Quebec wants to avoid missing the cryptocurrency ship and cannot wait.”
Почему это важно
- Quebec generates nearly 97% of its electricity from hydroelectric power stations and produces around 1,245 tonnes of carbon per TWh of power, between 50 and 240 times less than the North American industrial average.
- Cryptocurrency mining is thus relatively clean and cheap in Quebec, making it an attractive enterprise for both the province and crypto miners.
Hydro-Quebec currently has a recurring surplus of approximately 13 TWh. The new regulations will provide miners with much-needed electricity to continue their operations - they will, however, face different rates, and electric companies may opt for “forced load shedding”. This means that Hydro-Quebec will cut off power during the 100 to 300 hours per year when the Quebec power grid is stretched to capacity.
By Nadya Astam