Opposition NDP says renewable energy windfalls total $282 million. (CHAT NEWS TODAY file image)

By The Canadian Press

Energy Business

Alberta NDP says renewable energy windfall should benefit consumers, industry

Oct 24, 2023 | 1:50 PM

Alberta’s New Democrat Opposition is calling for the provincial government to use a nearly $300-million windfall from renewable energy contracts to help ease high consumer power bills and expand the industry.

Figures from the University of Calgary’s School of Public Policy indicate that contracts signed years ago between Alberta and renewable energy companies have netted the province more than $282 million in direct payments and carbon credits that weren’t issued.

That’s because those contracts guaranteed that if power prices exceeded an agreed-to level, the extra money would go to the government.

New Democrat energy and climate critic Nagwan Al-Guneid says that extra money should be used to help low-income Albertans with current high power prices.

Anything left over, she says, could help build renewable energy storage facilities in the province.

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She says her party hasn’t received a clear answer from the governing United Conservative Party on how the money has been spent.

(The Canadian Press)