Alberta’s electricity prices have surged in 2024 due to the growing international demand for natural gas, a key component in electricity generation. This surge is due to global geopolitical tensions, the shift towards renewable energy, and the federal carbon tax on natural gas and electricity generated using combustible fuel. As Alberta’s electricity market is deregulated, it leads to significant price volatility influenced by the balance of supply and demand. The province’s reliance on natural gas for electricity generation means global price changes directly affect local electricity prices, and the current trend indicates a continued increase.
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