Province of BC Reviewing BC Hydro

 In Hosting, Industry, Miners, News

Province of BC Reviewing BC Hydro

In our previous blog, we talked about the 7% PST commercial customers were charged on their electrical bill. The PST was to be phased out by April 2019 to drive a competitive edge for BC-based companies. Alongside the cut of 7% PST on commercial clients, BC Government announced that a review of BC Hydro will be done. The review is aimed to “To contain rate increases, control costs and position BC Hydro for future success, the B.C. government has launched a comprehensive, two-phase review of BC Hydro”. This change will affect miner hosting within North America and attract more individuals to host in BC instead of other locations.

BC Hydro

Phase 1

The first phase will look at the current state of BC Hydro. This phase will look at areas of cost saving, identifying deficiencies and how to turn/make them effective again and new revenue streams. These changes to BC Hydro will keep in mind that the electricity provided is clean, safe, and reliable over the upcoming years.

The government expects that the first phase will lead to changes in the rates which BC Hydro has planned for the year of 2019.

bc-hydro-dam

Phase 2

The second phase focuses on the future proofing of BC Hydro. This stage will be implemented closer to the end of 2018. This phase will include an establishment of an expert panel to provide suggestions to BC Hydro to maximize the profitability. Alongside the maximization of profitability, the board will look into areas such as technological changes and climate action. With the board assisting BC Hydro, it could lead to a more predictable future pricing of electricity.

BC and Miner Hosting

With cryptomining, the main cost comes from the electricity. With how enticing the electrical cost will become in BC, this could lead to miners and hosting companies to base their sites in BC to maximize their profits. With the increase in miners and hosting companies, people who jump on the train late will have to pay a higher price compared to the first movers.

Finding a hosting company now before the prices start increasing would maximize your profit.

Contact MiningSky for Hosting before its too late!

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