Spring 2017 - Bill 16: An Act to Cap Electricity Rates
The government committed to fixing Alberta’s broken electricity system.
Prior to this government's efforts to restore stability, Alberta had the only fully deregulated electricity market.
This market exposed consumers to vicious price swings and was no longer attracting investors.
This Bill will ensure Alberta families, farms and small businesses on the Regulated Rate Option will not pay more than 6.8 cents per kilowatt hour over a four-year period from June 1, 2017, to May 31, 2021. The Regulated Rate Option is the default electricity contract for the vast majority of Alberta consumers.
The change to the Climate Leadership Act would enable funding for this program to come from the carbon levy, if funding is needed. This use is appropriate.
It is a natural fit to use the carbon levy to protect consumers from any potential price spikes in our current carbon-intensive system while we transition to a new electricity market system, a system that is not only more stable, but is focused on using greener, healthier power sources.
This Bill is another step our government is taking to protect the pocketbooks of Albertans and make life more affordable for all.
Our government is protecting Alberta families, farms and small businesses from high electricity costs.
This protection gives Alberta families and entrepreneurs the certainty they need to live their lives and build their businesses without worrying that their electricity bills will spike without warning.