Making Electricity Affordable in Alberta: Introducing the Rate of Last Resort

💡The default power rate in Alberta, called the Rate of Last Resort, will be renamed to better reflect its nature and encourage consumers to explore competitive options.

🔒The Rate of Last Resort will be set every two years, providing more stability and reducing price volatility compared to the current monthly adjustments.

💰By choosing a more affordable rate plan, Albertans have the potential to save significant amounts of money on their electricity bills, especially in the long term.

💡The government aims to increase consumer awareness and understanding of electricity rates, ensuring that individuals are aware of their options and can make informed choices.

🏢These measures are part of the government's broader efforts to improve affordability and stability in the electricity market, benefiting businesses and households across Alberta.

Who is affected by this change?

—This change will impact all Alberta residents who are currently on the default regulated rate option for electricity.

Why is the rate being set every two years?

—Setting the rate every two years provides more stability and reduces the impact of short-term market fluctuations on consumers' electricity bills.

Can consumers still choose a competitive rate plan?

—Yes, consumers are encouraged to explore competitive rate plans that may offer more affordable options and benefits. The Rate of Last Resort is intended to be the backup option.

How much can consumers potentially save by choosing a different rate plan?

—Individual savings may vary, but switching to a more competitive plan could result in significant savings on electricity bills, particularly in the long term.

What other initiatives are the government implementing to improve electricity affordability?

—In addition to these rate changes, the government is working on initiatives to promote energy efficiency, renewable energy development, and consumer education on electricity usage.

00:01The government of Alberta is taking steps to make electricity more affordable for its residents.

02:56The default power rate in Alberta, called the Rate of Last Resort, will be renamed to better reflect its nature and encourage consumers to explore competitive options.

04:02The Rate of Last Resort will be set every two years, providing more stability and reducing price volatility compared to the current monthly adjustments.

04:32By choosing a more affordable rate plan, Albertans have the potential to save significant amounts of money on their electricity bills, especially in the long term.

06:10The government aims to increase consumer awareness and understanding of electricity rates, ensuring that individuals are aware of their options and can make informed choices.

08:46These measures are part of the government's broader efforts to improve affordability and stability in the electricity market, benefiting businesses and households across Alberta.