Albertans will have a chance to save money on their electricity bills as a new regulated rate is being introduced by the Provincial Government meaning some Albertans may enjoy a cooler summer.
The province is aiming to introduce a default electricity rate to keep sudden spikes in electricity bills down.
This new default rate aims to not only give rural communities a better bang for their buck but will also aid those with a limited budget.
According to the Province, approximately 29 per cent of residential consumers in the province purchase electricity through the default rate.
The default rate will also include a name change that will be introduced through legislation during the spring as the government claims the term is confusing to consumers.
The name change will be from the Regulated Rate Option to the Rate of Last Resort.
Along with the new regulations being introduced this spring, default electricity rates will be equalized by each provider every two years.
