Hydro-Quebec to Consider Selling 500 Megawatts to Crypto Miners
Quebec’s provincial government has received some plans from the department of public power utility that could help Hydro-Quebec set up a new framework through which it could parcel out power to crypto miners and work with them.
If the submitted plans get approved, Hydro-Quebec will be able to provide 500 megawatts of power to crypto miners. However, crypto miners would have to undergo a selection process before they can expect to benefit from the plan. The utility, in a statement last week, said that if its proposed plan to the Régie de l’énergie gets approved, miners would be allowed to submit bids that would be considered by Hydro-Quebec based on their economic benefits and ability to create new jobs.
Hydro-Quebec wrote that it is seeking a quick solution to the issue – a moratorium on crypto mining operations issued earlier this month, citing an “unprecedented” rise in the demand.
The power utility also wants to set a limit on the power crypto miners can draw for their operations during a year, in an attempt to free up power for others.
“The economic analysis will favor customers who will be ready to operate their facilities as quickly as possible. In addition, Hydro-Québec could request that these customers decrease their electricity use, for a maximum of 300 hours per year, to allow it to ensure the delivery of electricity to all of its customers, particularly during the winter peak period.”
Earlier this year, Hydro-Quebec indicated that it would not be able to meet the demand it has seen, according to a report published in March.
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