October 23, 2013
Balancing Pool to Pay $340 Million to Electricity Consumers
The Balancing Pool announces that the allocation to power consumers in 2014 will remain at $5.50/MWh of consumption. The upcoming year’s allocation will result in approximately $340 million being paid to Alberta’s electricity consumers. “Our financial and energy portfolios performed strongly through 2013 allowing us to maintain the $5.50/MWh allocation through 2014,” stated Bruce Roberts, Acting President and CEO.
During the eight year period since the initiation of the annual consumer allocation in 2006, the Balancing Pool has paid out $1.75 billion 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.
For further information:
Acting President and CEO