Alberta’s government introduced legislation this spring to rename the default electricity rate to the Rate of Last Resort.
According to the province, the goal of the change is to encourage consumers to find the best option for them and to better understand the rate they are paying.
Brent Williams, Chief Administrative Officer with the Town of Olds, says Alberta’s government changing the name from the Regulated Rate Option (RRO) to the Rate of Last Resort doesn’t change the structure of that rate, but he does agree with Premier Danielle Smith when it comes to the fact that this rate does not serve the best interests of clients – utility customers – in the province.
Williams believes this change presents an opportunity for a local provider such as Mountain View Power. He says “Mountain View Power is already one of the more consistently competitive energy retailers – natural gas, electricity, and solar power as well – in the province. We run on very thin margins with the idea that we don’t need to make a lot, because we do return everything to the community in a variety of ways. I think it does draw attention to those people who are still on the Rate of Last Resort to look at other options.”
Williams says Mountain View Power will have some communications going out in the next few weeks. He adds, May 15th is a projected rate reset and rates should fall slightly on or about May 15th, so Mountain View Power will have advertisements out there. He says “Our rates are in some case now below 11 cents a kilowatt hour and natural gas is floating, which is by far the cheapest way to go. By all means check your current bill, check what Mountain View Power is offering, make sure that we are competitive or better.”
He adds, profits are used to fund the Mountain View Power Community Grant Program. Williams says “It is a great program and we will be announcing as well in May the spring grant winners for the first intake of 2024 for the Community Grant Program. We had 17 applications, far more interest than we can fund right now but $75,000 dollars will be available for this grant intake and at least $75,000 dollars for the fall intake.
Mountain View Power was formed as an innovative Community Sustainability Initiative and is owned by the Town of Olds. It markets electricity, natural gas, and green generated power to residential, farming and small business located in Mountain View County.
Learn more by heading online to mountainviewpower.ca or olds.ca/mvp.