What the AltaLink refund could mean for their customers in Alberta
Small businesses have been hit hard by the pandemic, having to pivot their focus to other endeavours to cobble together enough revenue to stay afloat. That only accounts for the ones that were able to stay open throughout. According to Statistics Canada, nearly a quarter of businesses with fewer than five employees, and close to one-fifth of businesses with fewer than 20 lost 40% of their revenue compared to last year.
With this in mind, the Calgary-based utility company AltaLink has already submitted a proposal to the Alberta’s Utility Commission to refund an additional $350 million to their customers over the next three years to provide immediate financial relief to families and local businesses. Previously, in 2018 they froze rates over five years, thanks to low electricity prices, benefitting their customers with over a billion dollars in savings. From now until 2023, Albertans can look forward to their electricity bill being lowered by an average of 11%.
The Alberta Chambers of Commerce President cited electricity costs as a major concern for businesses.
Per the chamber president and CEO Ken Kobly, “Alberta’s job creators continue to face rising costs of doing business, particularly given the ongoing COVID-19 pandemic and energy price collapse. In recent Alberta Perspectives market research, electricity costs have been among the top concerns for the business community. AltaLink’s proposed refund initiative would provide much-needed relief to the struggling local businesses that play a significant role in our communities.”
Other ways to save on utility bills
For those who still find it difficult to manage their utility bills, we at EnergyRates.ca specialize in helping consumers find the most affordable rates and providers in their area. Businesses are also eligible for a free custom quote based on their own consumption.