Alberta tables bill to make way for electricity, natural gas rebates

The Alberta government tabled a bill on Wednesday that would allow the implemention of electricity and natural gas rebates announced earlier this year.

Bill 18, the Utility Commodity Rebate Act, would replace the Natural Gas Price Protection Act so the province can implement the Natural Gas Rebate Program announced in February as part of Budget 2022 and the Electricity Rebate Program announced in March.

The Electricity Rebate Program will give Albertans $150 in total — $50 per month between January and March.

The province says it is working with utility companies to issue the rebates directly on bills this summer.

The Natural Gas Rebate Program is scheduled to be in effect between next October until March 2023, and it will kick in if regulated natural gas rates go over $6.60 per gigajoule.

Nally wouldn't promise natural gas relief for consumers through the summer.

"We’re providing short-term relief while creating long-term improvements that will make the utility system more affordable down the line," said Dale Nally, associate minister of natural gas and electricity.

COMPANIES QUADRUPLE PROFITS: REPORT

Power companies were drastically increasing their profit margins as many Albertans were struggling to keep up with skyrocketing utility bills, according to a new report from the University of Calgary.

Data from the School of Public Policy shows some companies went from making about $9 per megawatt hour in 2020 to $44/MWh last year, a market markup of $35/MWh, says economist and report co-author Blake Shaffer.

• READ MORE: Power companies almost quintupled profit during winter's utility price spike: U of C report

Opposition Leader Rachel Notley says the report shows UCP changes, such as the cap removal, made "Alberta consumers pay the price."

"We need a government that's going to put consumers first, put Alberta families first. It is not reasonable that we're seeing companies quadruple their profits while at the same time regular families are struggling with skyrocketing utility costs."

More than 1.9 million families, businesses and farms will benefit from the new programs, the province said. 

With files from CTV News Calgary's Timm Bruch