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Alberta announces new rules for electricity generators
LETHBRIDGE, AB – Alberta’s government said it is updating its electricity market rules in order to help lower consumers’ utility bills.
Affordability and Utilities Minister Nathan Neudorf said the UCP government is instituting two temporary measures around the practice of “economic withholding,” a strategy regularly used by power generators in the province’s deregulated free-market electricity system.
Economic withholding is when power producers deliberately hold back all or part of their electricity supply by offering it into the market at a high price, with the goal of increasing the overall pool price.
The practice is not illegal, but has been highly criticized recently as one of the factors that has contributed to soaring consumer power bills in the province.