A devastating report published by analyst Jean-François Blain for the Union des consommateurs shows that Hydro-Québec’s Action Plan 2035 could have a major impact on rates for all clienteles. The study reveals that rates could climb 29% by 2030 and 63% by 2035, which is a yearly increase of 7%.
As a result of $180 billion in distribution and production investments over 10 years, sales are expected to increase by 55 TWh in 11 years, even though demand has only risen by 11.3 TWh over the past 20 years. Resigning Premier of Quebec François Legault and his acolyte Pierre Fitzgibbon had hedged their economic bets on the battery subsidiary and electrification, but this industry has yet to get off the ground and is unlikely to deliver the goods.
“Where is Jean Boulet, who is now the Minister of Economy, Energy and Innovation? How about he explain this fiasco to people!” said Pierre-Guy Sylvestre, an economist with CUPE Québec. “While the aspiring interim premier is gallivanting around Quebec talking nonsense about the third link, Fitzgibbon is peddling hydroelectric dams to foreign interests. It’s shameful!”
Without a real plan to drastically reduce oil and gas consumption, how could the government have pushed our Crown corporation to take such a risk?
Neither its integrated energy resources management plan (PGIRE) nor its 2030 green economy plan (PEV 2030) will lead to a fair and sustainable economic transition. This administration has jeopardized Quebec’s prized organization and an extraordinary lever for development by making people believe it was shifting to a sustainable, vigorous and stable economy.
With the announced 6,000 MW of wind power to be developed through public-private partnerships, in addition to the 4,000 MW that has already been built, Quebec will soon be generating 25% of its electricity with private sources. The government has forced our Crown corporation to become a private-sector contractor, on Quebecers’ dime.
“Legault and his party are no longer credible; they must leave,” Sylvestre concluded. “It’s their mess and taxpayers shouldn’t have to pay to clean it up.”