Electricity Market Reforms in Alberta: A Preliminary Assessment
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Alberta, Canada attempted to introduce competition into wholesale electricity markets in the late 1990s. In 2000/01 wholesale prices skyrocketed. Price rose as high as prices did in California, at the same time, and stayed high for as long a period of time. However whereas spiking wholesale prices led to the complete collapse of market reform in California and re-regulation, the reform model developed in Alberta proved to be more robust. Competitive wholesale markets in electricity have successfully evolved, to be benefit of consumers. This study examines the specifics of the reform model introduced in Alberta and provides a preliminary assessment of Alberta's efforts to introduce competition into the electricity sector.