Alberta to introduce legislation to stabilize electricity rates [Video]

Alberta is introducing new legislation aimed at preventing spikes in electricity prices.

Default electricity rates will be set for each provider every two years.

The province says this will significantly reduce rates for people who are unable to sign a competitive contract, including people with bad credit, seniors, or people in rural Alberta who don’t have other provider options.

“Albertans should not dread opening their bill each month. Unpredictable power costs make it hard for families to plan their household budgets, that makes it hard to have certainty for the future,” Premier Danielle Smith told reporters on Thursday.

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In addition to the new set rates, the Regulated Rate Option (RRO), which is provided to customers who can’t sign a competitive contract, will be renamed to the Rate of Last Resort.

The province says this will better …