Quebec’s business leaders are calling for action to leverage energy costs to boost the economy amid looming U.S. tariffs
Montreal: Business leaders in Quebec are sounding the alarm about potential U.S. tariffs that could hit the province hard. They’re worried about a 25% tariff on Canadian exports that might kick in soon.
At a recent press conference, the Alliance pour la compétitivité énergétique du Québec (ACEQ) shared their concerns. They represent various industrial consumers and are urging the government to act quickly.
Jean Simard, the president of the Aluminium Association of Canada, emphasized the need to use Quebec’s energy advantages to keep the economy strong. He pointed out that energy costs are a huge part of production expenses.
Jocelyn B. Allard, from the Quebec Association of Industrial Electricity Consumers, explained that energy bills can make up to 70% of production costs. This is a big deal when competing with U.S. companies that have lower energy prices.
The ACEQ is pushing for changes to Bill 69, which aims to modernize the energy sector but could lead to higher electricity rates. They want to keep rates stable and based on actual costs.
Julie White, from Manufacturers and Exporters of Quebec, highlighted how important the manufacturing sector is to local communities. If a factory closes, it affects everyone around it.
The Quebec Energy Minister’s office stated that Bill 69 is crucial for the province’s energy future and will be reviewed soon. They’re aware of the potential impacts from U.S. decisions.
White believes the Quebec government should focus on what they can control, like electricity rates, to help businesses survive.
With the threat of tariffs looming, businesses are already feeling the pressure. Some are considering moving production to the U.S. or delaying investments, which could lead to job losses.
Simard stressed the importance of protecting Quebec’s economic interests, pointing out that the province has a competitive edge with its renewable hydroelectric energy.
