Alberta government introducing the “Rate of Last Resort”
The provincial government has announced it is trying to help Albertans take control of their electricity options and protect ratepayers from power price spikes.
“Alberta has a unique competitive electricity market, which gives Albertans the power to choose the best energy provider, plan, and payment option to fit their needs,” explains Nathan Neudorf, Minister of Affordability and Utilities. “Consumers can purchase their power from over 50 competitive retailers, with the choice of either fixed or variable rate contracts.
“Albertans who don’t sign a competitive contract are automatically enrolled on the Rate of Last Resort from their local provider, which in the past has tended to be more expensive and volatile than competitive options.
“Alberta’s government is taking action to protect Alberta’s ratepayers and lower utility bills by helping consumers be better informed of their energy options.