Canadian provinces restrict energy supply to crypto miners and seek long-term solutions

The Canadian province of Manitoba has placed a moratorium on new requests for electricity service for cryptocurrency operations from the government-owned Manitoba Hydro, which applies to new requests from crypto miners and “requests for electricity service that do not result in the execution of an infrastructure construction agreement.” In November 2022, the provincial government placed an 18-month moratorium on electricity connections for cryptocurrency mining. Now, the moratorium will last until April 30, 2026. By then, the province plans to develop a long-term solution, adding in a statement: “Manitoba Hydro anticipates that new or expanding cryptocurrency operations will generate unprecedented electricity demand. This demand has the potential to significantly increase our total electricity load.” In addition, Hydro-Quebec proposed temporarily reducing electricity supply to crypto operations in November 2022; New Brunswick banned the supply of electricity to new cryptocurrency operations in November 2023. In December 2022, British Columbia announced that it would stop establishing connections with new crypto miners for 18 months, a decision that affected 21 projects. On April 11, the British Columbia government said it had amended the Utilities Commission Act to regulate electricity services for cryptocurrency miners. The new amendment will make it possible for the provincial government to prohibit, restrict or regulate services to crypto miners. It is reported that the province's commercial and industrial electricity prices are currently the lowest in North America. (Cointelegraph)