Powerplant Hydro Quebex (Montreal, Canada) submitted plans to the local government with idea setting up a new framework to collaborate with cryptocurrency miners.
If the idea will be approved, company will provide 500 megawatts worth of power for cryptocurrency miners. This would allow miners do submissions that Hydro-Quebec would consider ability for economical benefits and creation of job spots benefiting hydroplant.
Unexpected power level of demand has to be issued and company seeks for fastest solution to solve it. Also, this utility would put a cap on the amount of power that miners consume during the period of mining in order to regulate power streams in favor to free up power for other consumers. This was concerned because of many disputes between crypto miners, residents and local governments in North America.
“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.”
Company earlier before indicated this problem for such demand of electricity the powerplant is struggling to keep up with, to benefit both sides, they plan to upgrade it.
Some facts about hydroplant:
Managing Director: Éric Martel (07-07-2015) Headquarters: Montreal, Canada Founder: Adélard Godbout Founded: 1944 April 14, Montreal, Canada Owner: Government of Quebec Income: CAD 13.75 billion