The new rules will limit the offer price of natural gas generating units owned by large providers, if net revenues cross a predefined threshold
Alberta Utilities Minister Nathan Neudorf says the UCP government is instituting two temporary measures around the practice of 'economic withholding.'Alberta’s government is updating its electricity market rules with new temporary measures it says will help lower consumers’ utility bills.
The practice is not illegal, but has been highly criticized recently as one of the factors contributing to soaring consumer power bills in the province, as well as a growing number of occurrences where power prices in the province have been higher during off-peak periods than during periods of peak demand.
Neudorf announced the changes in a speech at the annual conference of the Independent Power Producers Society of Alberta in Banff on Monday. In a particularly high-profile example, Alberta was forced to declare an emergency grid alert in January when the system – under pressure from a number of natural gas plant outages as well as wind that was not blowing – came close to buckling.
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