Alberta Announces Measures to Stabilize Electricity Prices
From CBC News
Alberta power companies will now purchase electricity up to 120 days in advance, instead of 45, in order to stabilize prices, Energy Minister Ken Hughes announced on Tuesday.
By increasing the window, the province believes that dramatic price jumps can be avoided by spreading the effects of plant shut-downs and bad weather can be spread over a wider period of time.
Hughes also announced that the Alberta Utilities Commission (AUC) will be given more power to review the costs of new power lines.
Under the old system, consumers had to challenge electricity costs they believed were out of line. Now transmission companies will have to prove the need for future price hikes.
The province is now lifting a freeze on ancillary power bill costs that Premier Alison Redford put in place just before last spring’s provincial election.
Hughes doesn’t believe that will result in higher power bills.
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