Quebec ups energy rate for crypto miners

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Access to Quebec's power grid is going to cost new cryptocurrency miners triple.

This week Quebec increased energy prices for new blockchain companies by 300 percent to 15 cents per kilowatt hour, reports Bloomberg. The province is powered entirely by renewable energy sources, and most of this comes from hydropower.

Bloomberg reports new blockchain energy requests would go beyond what Quebec can provide power for in the short and medium-term. State-owned provincial power administrator Hydro-Quebec will keep the rate in place for several weeks until a new power limit and pricing model is calculated.

RUNDOWN SHOWS:
1. Depiction of Quebec and hydro power
2. Depiction of blockchain industry coming to Quebec
3. Depiction of more blockchain companies coming to Quebec
4. Depiction of new power rate and blockchain companies

VOICEOVER (in English):

"Quebec is powered entirely by renewable energy sources, with most of it sourced from hydropower."

"Bloomberg reports the province offers the lowest energy rates in North America."

"Because of this, cryptocurrency blockchain firms with their high-energy demands moved to Quebec after the government incentivised with them low rates."

"According to Bloomberg, this was a bid to absorb excess energy from hydro-dams."

"This week Quebec increased energy prices for new blockchain companies by 300 percent to 15 cents per kilowatt hour."

"Bloomberg reports new blockchain energy requests would go beyond what Quebec can provide power for in the short and medium-term."

"State-owned provincial power administrator Hydro-Quebec will keep the rate in place for several weeks until a new power limit and pricing model is calculated."

SOURCES: Bloomberg, Hydro-Quebec, Blokt, Reuters
https://www.bloomberg.com/news/articles/2018-06-19/Quebec-hikes-power-prices-for-crypto-miners-to-halt-new-requests
http://www.hydroQuebec.com/about/our-energy.html
https://blokt.com/news/Quebec-freezes-crypto-mining-power-requests-amid-excessive-demand
https://www.reuters.com/article/us-canada-bitcoin-Quebec/canadas-Quebec-halts-crypto-mining-projects-may-raise-fees-idUSKCN1J31Q5