Alberta has firmly rejected the newly released draft regulations aimed at achieving a clean electricity grid in Canada by 2035. Environment Minister Steven Guilbeault unveiled the regulations on August 10, designed to guide the country's transition to cleaner energy sources and reduce greenhouse gas emissions. The proposed regulations are expected to drive up energy costs, but federal officials argue that the costs will be offset by savings from moving away from fossil fuels.
The government's ambitious target of achieving a net-zero electricity grid by 2035 has sparked controversy, with Alberta and Saskatchewan advocating for a 2050 goal instead. Alberta Premier Danielle Smith labeled the draft regulations as unconstitutional and irresponsible, vowing that they will not be implemented in the province. The regulations are intended to encourage a shift towards renewable energy sources, as demand for clean electricity is projected to double by 2050 due to the widespread adoption of electric vehicles and other technologies.
Despite opposition from some provinces, Guilbeault maintains that the draft regulations strike a balance between affordability and sustainability. He emphasized consultations with various stakeholders, including provinces, utilities, investors, and Indigenous groups. The government plans to provide tax credits, low-cost financing, and other funding mechanisms to cover up to half of the regulations' cost, further reducing the burden on consumers. The draft regulations are set for a 75-day consultation period, with the final version expected to be published in January 2025.
Source: financialpost.com