United Conservative’s officially doing away with capacity energy market

By 660 NEWS STAFF

ALBERTA (660 NEWS) — The provincial government is officially tabling a bill to reverse a change to the energy market proposed by the New Democratic Party (NDP).

The NDP wanted to switch to a capacity market which pays producers for real-time generation of electricity, and their overall ability to produce.

They said a capacity market would keep prices stable and facilitate a shift to renewables.

However, Energy Minister Sonya Savage said it would have resulted in higher prices, and criticized other NDP energy policies.

“The Power Purchase Agreements were returned when they brought in their carbon tax causing about a $1.4-billion boondoggle, which is now being paid for by both consumers and taxpayers a billion dollars to phase out coal,” she said.

Despite concerns from critics, Savage said this move has boosted investment in Alberta already.

“We have attracted more than $2-billion investment in electricity in this province that includes Perimeter Solar who within a partnership with PC Energy committed to investing $200-million in a new solar power project just south of Calgary,” she explained.

The United Conservative Party instead will stick with an energy-only market, which only pays producers for a real-time generation as they say it will keep the industry stable.

Bill 18 will be tabled in the fall session of the Legislature.

Top Stories

Top Stories

Most Watched Today