UCP scraps electricity price cap, some will see $7 bill increase this month
EDMONTON -
Electricity will be more expensive for some Edmontonians in December after the UCP government scrapped a program that capped rates.
Effective Nov. 30, the province got rid of the price cap program for Regulated Rate Option customers.
In 2017, the NDP government capped the kilowatt per hour price at 6.8 cents, meaning Edmontonians would pay the market rate and not more than the capped price.
In December, kWh will cost 7.5 cents. Typical Edmonton homes use an average of 600 kWh, increasing bills by $7.37, or 3.9 per cent, compared to November.
The NDP created the capacity system to bring price stability to Albertans.
Energy Minister Sonya Savage said the UCP decided to scrap it after "overwhelming" feedback from consumers and industry stakeholders.
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Manitoba Hydro's burgeoning debt surpasses $19 billion
WINNIPEG - Manitoba Hydro's debt load now exceeds $19 billion as the provincial Crown corporation grapples with a shrinking net income amid ongoing efforts to slay costs.
The utility's annual report, to be released publicly on Tuesday, also shows its total consolidated net income slumped from $71 million in 2016-2017 to $37 million in the last fiscal year.
It said efforts to restructure the utility and reduce costs are partly to blame for the $34 million drop in year-over-year income.
These earnings come nowhere close, however, to alleviating Hydro's long-term debt problem. The figure is pegged at $19.2 billion this fiscal year, up…
