- Alberta’s electricity prices rise
- Prices rise by 25%
- High demand and low supply are responsible for rising electricity prices
According to the consumer price index, Alberta recorded the largest increase in the monthly prices of electricity since July 2015. Electricity prices rose by 25%. Alberta has seen an increase in electricity demand due to the hottest summer recorded.
In a statement by Alberta’s Associate Minister of Natural Gas and Electricity, Dale Nally, low hydro-generated electricity supply, among other factors, are responsible for the spike in electricity prices. ”This period of high market prices is driven by low supplies of hydro-generated electricity from British Columbia and the pacific northwest, scheduled outages for coal-gas-conversions, unplanned infrastructure outages and unprecedented, and record-breaking high demand due to hot weather. We expect some of the factors that have caused recent increases in prices will be short-term.”