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Alberta Regulated Rate Option Will Be Renamed "Rate Of Last Resort"

Updated: Dec 4, 2024


Premier Danielle Smith has unveiled plans to overhaul the RRO, currently known as the Regulated Rate Option, citing its misleading nature due to monthly volatility influenced by unpredictable global events. Under the proposed legislation, the RRO will be rebranded as the Rate of Last Resort, providing consumers with a clearer understanding that the ideal option is a competitive local retailer.


Smith says her government is also planning set the Rate of Last Resort every two years for each provider so that there isn't so much volatility. Also, providers will be mandated to seek customer confirmation regarding their preference for either the Rate of Last Resort or a competitive alternative.


Providers will also have to ask customers if they want to stick with the default rate or pick a competitive retailer. Plus, they'll need to tell customers how to get help if they need it and remind them they have the ability to choose any energy retailer they want.


As the proposed changes take shape, consumers are encouraged to stay informed and actively engage with their energy providers to make informed decisions that align with their individual needs and preferences. The Alberta government is set to implement these measures effective January 2025.


We believe in educating customers to help them make informed decisions that financially benefit them long term. There are unprecedented changes happening in the energy industry in Alberta and we hope that an expert is managing your energy account. If not, please reach out to one of our experienced energy consultants who will keep you informed about further updates on this evolving development and provide valuable insight and guidance to help you navigate the dynamic Alberta energy market landscape.


THE TEAM

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Unknown member
Apr 26, 2024
Rated 5 out of 5 stars.

Thank you for the amazing information!


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