While the NDP are scurrying around worrying about who talks to what media outlet, the meltdown in Alberta's electricity system continues.
The government now owns 25 per cent of all the power generated in the province.
When the NDP started trying to “green” Alberta's grid through a carbon tax and coal phase out, they rendered contracts between electricity generators and the retailers unprofitable.
That in turn triggered a clause that let money losing contracts revert to the government agency in charge, the Balancing Pool.
The Alberta government is borrowing $2.2 billion to cover these losses, caused by their meddling — with no plan to stop the losses.
But besides a death spiral, another problem has surfaced:
So many contracts have been turned back over to the Balancing Pool, that it (and by extension the provincial government) now owns one-quarter of all power generated in the province.
Investors, even green energy ones, are now skittish about investing in a marketplace where 25 per cent of the power is owned and backed by the taxpayer and ratepayers.
The result will be a further monopolization of the electricity system under the Alberta Government.
With the NDP’s bent towards everything being owned and controlled by the state, maybe this was their endgame all along.