The government of québec introduced a moratorium on the sale of electricity to miners

The government of québec introduced a moratorium on the sale of electricity to miners

The government of québec introduced a moratorium on the sale of electricity to the crypto currency miners, reported a local news publication, Le Journal De Montreal, may 30.

According to Le Journal, the Quebec government took this decision because he feared “do not keep up with the cryptocurrency train”.

Energy Minister Pierre Moreau will present a decree to regulate the sale of electricity for miners, the activity of which requires a huge capacity. Moreau in February noted that “the government should ensure that this business was controlled so that in the end did not come out that Hydro-Québec works only on the security of mining.

More than 100 organizations with a total energy consumption of more than 10 TWh have applied for purchase of electricity from Hydro-Québec. Hydro-Québec operates 60 hydroelectric power plants with an additional capacity of about 13 TWh.

According to Le Journal, a high demand was completely unexpected. In January the Director General of Hydro-Québec Eric Martel said that in the coming years, they expect sales of 5 TWh sector mining cryptocurrency.

The decree sets different tariffs for miners of digital currencies that allow energy companies to practice “emergency unloading”. In other words, Hydro-Québec will be able to turn off the electricity to the mining companies at 100-300 hours per year if the electric network in Quebec will reach the maximum load. The representative of Hydro-Québec Marc-Antoine Pouliot said:

“The ability to turn off miners in these critical periods provides the stability of power supply”.

In March, the government of Quebec said that “not interested” in providing cheap electricity to bitcoin miners, adding that the provision of mining with a discount without any “additional cost” will harm the local economy.

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