Canada's "flood season" regulators push new rules for mining electricity use

The Régie de l'energie, the energy regulator for the Canadian province of Quebec, has issued new rules for cryptocurrency mining. The new development was announced by Hydro-Quebec, the main electricity supplier in the province, on April 29.

Under the new regulations, the Regie de l'energie requires Hydro-Quebec to allocate 300 megawatts (MW) of electricity to the blockchain industry. The announcement further explains:

"This 300 megawatts is in addition to the 158 megawatts Hydro-Quebec has already approved for existing customers, and the 210 megawatts already approved for existing customers by other municipal distributors."

In order to receive these special allocations of electricity, mining companies must be rated and screened based on four criteria, including the number of jobs created in Quebec, total direct employment wages, investment value and heat recovery. Hydro-Quebec said in a press release that the introduction of the new rules allows the company to continue to provide customers with electricity at lower prices.
Canada is recognized as one of the world's leading cryptocurrency countries for its innovation, low energy costs, high-speed internet and favorable regulatory regime . In late July last year, Hydro-Quebec revealed that Quebec had a surplus of 100 terawatts of energy over the past 10 years, and some of the electricity prices charged were the lowest in the entire North America.
Last June, Hydro-Quebec proposed a new rule requiring blockchain -related companies to bid for electricity and quantify the jobs and investment they are expected to generate per megawatt.
Recently, the town of Innisfil in Ontario, Canada announced that it is implementing a pilot program that allows residents to pay property taxes with Bitcoin (BTC), and in the future, it will expand the range of accepted cryptocurrencies to other cryptocurrencies , including Ethereum (ETH), Litecoin (litecoin), Bitcoin Cash (BCH) and Ripple (XRP). ( Blockchain Pencil)