Varcoe: Soaring power prices in Alberta jolt consumers, spark consternation

DM

Alberta power prices are on track to hit their highest average level in more than two decades, jolting businesses and consumers into searching for ways to keep rising electricity bills in check. Wholesale power prices in Alberta have soared this year, averaging $142 per megawatt-hour (MWh) on Thursday — and $103.51 for the year to date, according to data from the Alberta Electric System Operator (AESO). This is more than double the average Alberta Power Pool price of $46.72 per MWh that was recorded in 2020, and the highest annual price since 2000. Industry experts and electricity officials say a number of factors are propelling prices upward. “Now, we are in a period where we still have plenty of supply, but we have seen some retirement and seen some (generating plants) come offline and some of the really big additions haven’t yet come online… “We are not worried there is a structural issue in our market.”

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