November 22, 2010
Allocation to Power Consumers set at $2.00 per MWh for 2011
The Balancing Pool announces that the allocation to power consumers in 2011 will be set at $2.00 per MWh of consumption, which will result in over $100 million being received by Alberta’s electricity consumers.
“The Balancing Pool PPA assets have been generating lower cashflows during 2010 due to softer electricity prices,” said Gary Reynolds, President and CEO, “and we forecast this to continue during 2011. As such, the consumer allocation will remain at $2.00 per MWh for calendar 2011.”
During the five year period since the initiation of the annual consumer allocation in 2006, the Balancing Pool has paid out over $950 million in allocations to Alberta’s electricity consumers. In addition, in 2001 the Balancing Pool paid $2 billion in electricity rebates to consumers from proceeds of the PPA auction.
Under provisions of the Electric Utilities Act, each year the Balancing Pool is required to forecast its revenues and expenses and to determine whether any excess (or shortfall) funds will be allocated to electricity consumers. The consumer allocation amount will be reviewed for 2012 and annually thereafter.
For further information:
President and CEO