The Alberta Government has taken the next step in restructuring Alberta's electrical industry to encourage a more competitive marketplace and competitive prices for consumers. The province today announced it has accepted the results of the recent auction to give qualified companies the right to sell electricity generated by power facilities around the province. The Alberta Government is currently working on a program to return the one billion dollars in revenue generated by the auction directly back to Alberta electricity consumers. Changes to the electricity marketplace will include steps to ensure Albertans enjoy full consumer protection. Electricity retailers will be licensed and subject to legislated standards of conduct.
Consumers can expect to see information updates over the coming months.
They will have ample time to consider service options from new suppliers, compare prices and find the best package to suit their specific needs. The new marketplace in Alberta is in step with changes taking place around the world. Similar moves elsewhere have shown that competition benefits consumers. However, consumers are reminded electrical prices are also affected by factors such as the price of the natural gas. Natural gas is used to generate roughly 20 per cent of Alberta's electrical power.