Albertans have seen year-over-year electricity based savings thanks to new government policy.
According to a press release from the Alberta Ministry of Affordability and Utilities, there has been a 60 per cent decrease in people's bills.
“Our government promised to lower Albertans’ utility bills, and I am proud to see our efforts yield results. The numbers speak for themselves and prove our government’s new policies are working, with much more still yet to come,” said minister of affordability and utilities Nathan Neudorf.
Smith on savings
The Smith government has introduced new market rules to curb rising everyday costs. In July, the Market Power Mitigation Regulation was introduced to reduce the impact of price spikes. Independent reports estimate Albertans will save upwards of $8 Billion a year.
“Cost uncertainty and unpredictable price spikes in electricity bills have been significant challenges for Albertans in recent years,” said Chris Hunt of Utilities Consumer Advocate. “However, in recent months, retail electricity prices have been decreasing, and there is more price stability for consumers. Consumers can learn more about their retail energy options from ucahelps.ca.
Additional measures to continue providing savings will take effect in 2025. They include regulating distribution charges and default electricity rates.
The Alberta Utilities Commission compared prices year to year. They averaged $.3227 cents per kilowatt hour last August and have declined to $.1319 cents this year.
Albertans who need assistance with their utility bills or are experiencing a dispute with their retail provider should contact the UCA.
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