Hydro-Québec raising rates by 0.7%

Hydro-Québec is once again increasing your electricity rate as of April 1, but there is a bit of a silver lining this year.

Quebec's Energy Board approved a 0.7 per cent rate increase, the utility had been asking for a 1.6 per cent hike.

How does this impact your monthly Hydro bill?

If you own a small house you can expect to pay about 88 cents more per month, while midsize home owners can expect to add an additional $1.75.

The utility says the rate increase is due to the investments needed for transmission system asset sustainment, which includes replacing PK circuit breakers.

"Quebecers will continue to enjoy the lowest electricity rates in North America" Hydro said in a statement. "In 2017-2018, they will pay half the price of customers in Toronto, and only a quarter of those in New York."

"It should also be pointed out that over the last 20 years, electricity prices have increased more slowly than the prices of many consumer products, such as milk, eggs, public transit and insurance."