EDMONTON – Alberta says it is putting a cap on power prices as part of a plan to move away from coal-fired electricity production.
Premier Rachel Notley says the cap, along with other reforms, will ensure stable and affordable prices during the transition.
The cap is to be fully implemented by June and will ensure Albertans pay no more than 6.8 cents per kilowatt hour.
That’s about twice what most Albertans pay now and sits higher than any price spikes going back more than a decade.
The ceiling is to be in effect until 2021.
Notley’s government is working to phase out coal-fired electricity by 2030 and replace it with renewable energy such as wind, solar and hydro.