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HomeCryptoCryptocurrencies | A risk for hydro-québec, says the government

Cryptocurrencies | A risk for hydro-québec, says the government

The demand for electricity supply this sector.

Sent at 11:23 AM

Helen Baril

Helen Baril
The press

“It must be considered that the allocation of a block dedicated to a specific sector to connection requests that are not priority and strategic poses a risk to the electricity distributor’s ability to adequately respond to those requests that are priority and strategic connections to it “, says the decree published in the Official Gazette.

This decree targets part of the 500 megawatt block allocated to the cryptocurrency sector, or 270 megawatts, which is still available.

The Economy Minister, Pierre Fitzgibbon, had already announced last week the government’s intention to redistribute this block of energy to other sectors.

“Given the shape of the energy demand, the government has asked the Régie de L’énergie by decree to consider withdrawing the 270 MW reserved for blockchain projects,” the minister tweeted.

“All means must be taken to ensure that the available energy for the strategic sectors as well as for the energy transition is preserved”, specifies the text of the decree.

Electrification of transport and especially the battery sector for electric vehicles is at the heart of the Legault government’s environmental strategy.

Overwhelmed by supply requests from the cryptocurrency sector, Hydro-Québec had requested and obtained from the Régie de l’énergie permission to limit the amount of energy allocated to this activity to 500 megawatts, of which 230 have been allocated.

The Régie de l’énergie must take into account the intentions of the government, notified of it by order.

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