Changes to Alberta electricity market

[ExtraSlow]

More changes to the Alberta electricity market. Something about the balancing pool. I again got confused. Eli5 pls okthxbye
https://beta.ctvnews.ca/local/edmont...71108.amp.html

[Tik-Tok]

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. Eli5 pls okthxbye

Our bills are about to get higher.

[ExtraSlow]

Higherer than they were already going to go to?

[LilDrunkenSmurf]

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Higherer than they were already going to go to?

From what I've been told, yes. Something to the tune of 1.5bil or something?

[zechs]

This is a situation where everyone has mud on their faces. It was a bad, shitty deal and never should have been instituted, and never should have been kept around.

A lot of people think because of this, that reregulating and making the electricity market solely crown corporations would be better. Trying to explain to them these higher prices are the chickens coming home to roost falls on deaf ears.

People have a hard time grasping that privatization doesn't happen at the snap of the fingers, it takes decades to get all the regulatory crap out. Look at Air Canada FFS.

[pheoxs]

This bit seems interesting:

A PROPER AUDIT?

Deloitte, the independent firm hired by the province to complete the audit, was instructed by the province to examine from May 2015 to April 2019, with that period specifically "requested."
"It is interesting or odd to me that the calculation of that," Schaffer said. "(It) was specifically done to end part way through 2019.
"The balancing pool existed and managed the PPAs until the end of 2020," the economist added. "And prices were higher in 2019, in 2020, than they were previously. So if they switched to profitability that point was excluded in the calculation?
"So in my view, if they were doing a proper audit on the balancing pool's losses they should've done the full term,"

[kertejud2]

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This bit seems interesting:

Finding a way to ensure more profit for cronies while having the public blame the NDP for the increased costs they're incurring because of it is probably the most shrewd political move the UCP has done.