Retnanandan: Alberta’s new electricity market could shock consumers with higher prices
Consumers should be aware that the Alberta government’s plan to introduce a capacity market for electricity by November 2021 is likely to hurt residential and business consumers and raise average bills by 12 to 15 per cent.
Opposition to the changes has been muted because of the complexity of the process, which is indeed troubling. While the government’s goal of introducing renewable sources of power is commendable, the implementation of the policy by the Alberta Electric System Operator is failing consumers and needs to be addressed urgently.
In late 2015, Alberta’s climate leadership plan mandated the phase out of coal-generating plants and the provision of approximately 30 per cent of the electricity supply from renewable sources of power, such as wind and solar, by 2030. In 2016, Alberta generated 12 per cent of its electricity from renewables.
Published in Calgary Herald, 27th July, 2018