FOR IMMEDIATE RELEASE – December 9, 2022
Saint John, NB – Today, the Atlantica Centre for Energy released Atlantic Canada’s Electricity Future Discussion Series – Part 3: Electricity Costs, to help Atlantic Canadian residents and businesses better understand what electricity prices may be in a net-zero future.
The discussion paper helps visualize publicly available data through the Canada Energy Regulator (CER), while providing context about how federal and provincial emission reduction policies may influence electricity prices. The proposed Clean Electricity Regulations, for example, will accelerate decarbonization efforts for electrical utilities, and at the same time raise costs for New Brunswick and Nova Scotia rate payers, in particular.
“To reach net-zero emissions by 2050, we need to start talking about the impact on electricity prices and how that will affect Atlantic Canadians,” said Jonathan Alward, Vice President, Policy, and author of the paper. “There are actions governments, utilities, residents and businesses can take today to help minimize our costs tomorrow.”
“Without an affordable path forward for residents and businesses, the critical transition to net-zero emissions will not gain the support it needs,” concluded Michelle Robichaud, President.
The discussion paper illustrates provincial and regional electricity price forecasts for residential, commercial and industrial users. With concerns about the CER’s Energy Future 2021 report assumptions, the discussion paper explores external research and other considerations to better understand how prices may change given the current regulatory environment. In particular, the paper demonstrates how household energy costs may change, as homes and vehicles become increasingly electrified.
ATLANTICA CENTRE FOR ENERGY
Atlantica Centre for Energy provides a unique meeting ground for industry, government, the education and research sectors, and the community at large to foster partnerships and proactively engage in energy-related issues. The Centre’s membership represents the largest employers, energy producers, distributors, and consumers in the region.