National

B.C. seeks to regulate electricity for cryptocurrency miners, citing huge demands

Darpan News Desk The Canadian Press, 11 Apr, 2024 04:10 PM

British Columbia is proposing legal changes that would allow the government to regulate the supply of electricity to cryptocurrency miners.

A statement from the Ministry of Energy says cryptocurrency miners consume large amounts of electricity to constantly run high-powered computers, while creating very few jobs or economic opportunities.

It says the legislative amendments would allow the government to prohibit or restrict provision of electricity to cryptocurrency miners because "unchecked growth" of the sector could make it challenging and more costly to provide electricity to homes and other businesses.

The province directed the BC Utilities Commission in December 2022 to suspend new electricity connections for cryptocurrency mining for 18 months.

The statement says 21 projects, requesting a total of 11,700 gigawatt hours of power per year, were temporarily suspended from receiving power.

It says that amount of electricity is more than double what the new Site C dam will be able to generate.

Proposed changes also include amendments to repeal sections of the Clean Energy Act used to create the former government's Standing Offer Program to buy electricity.

The statement says purchases under the program, which was suspended in 2019, were made at well above market rates.

Prev Next

MORE National ARTICLES

Hunger on the Rise Canadian Food Banks in High Demand

Earlier this year, there were an unprecedented 1.9 million visits to food banks in Canada. This is a 32% increase from 2022 and a 78% increase since before the pandemic. Unsurprisingly, food banks are approaching 2024 with growing concerns as the sustained increase in demand places additional strain on their resources and capacities.

Hunger on the Rise Canadian Food Banks in High Demand

BC snowmobiler dead

Police in eastern British Columbia are warning backcountry users to be ready for emergencies after a snowmobiler was killed and two skiers had to be rescued this week in separate incidents. RCMP in the Golden-Field detachment say the death happened on Jan. 21 when a snowmobile driven by a 24-year-old man left the trail down a steep embankment and hit some trees.

BC snowmobiler dead

Spike expected in homes sales in 2024

Homes sales in the province are forecast to increase this year by 7.8 per cent, in what the B-C Real Estate Association says will be a delicate balance for the market. The association’s Brian Ogmundson says headwinds slowed last year’s sales with elevated mortgage rates, but the recent decline in fixed mortgage rates and the potential for Bank of Canada rate cuts make it a more optimistic year.

Spike expected in homes sales in 2024

Manager in fatal B.C. rooming house fire calls for better fire safety training

The manager of a Vancouver rooming house that was the site of a fatal fire in 2022 broke down in tears at an inquest, telling the jury that staff needed better training in fire safety. Gina Vanemberg testified that a "red book" with fire safety procedures was given to her when she became manager of the Winters Hotel in 2020, but no one from her employer, Atira Property Management, went over the paperwork or confirmed that she read it.

Manager in fatal B.C. rooming house fire calls for better fire safety training

Military 'will be there' for Canadians in emergencies despite resource strain: Blair

Defence Minister Bill Blair says the military's greatest responsibility is protecting Canadians, and his government intends to keep calling on them for help in domestic emergencies. Blair says he knows responding to natural disasters puts a lot of pressure on the Armed Forces, which is dealing with a personnel shortage of more than 16,000 troops.

Military 'will be there' for Canadians in emergencies despite resource strain: Blair

Vancouver approves high-density Jericho Lands project criticized by some residents

Vancouver's city council has approved a high-density development concept for a 36-hectare site on the city's west side, involving13,000 new homes. The Council says the Jericho Lands Policy Statement sets the direction for development of the land owned by a joint venture that includes three First Nations.