What is the Natural Gas Price Protection Act?
The Government of Alberta is committed to assisting Albertans when natural gas prices are higher than anticipated. The Natural Gas Price Protection Act, which became effective July 1, 2001, establishes a process for providing a natural gas rebate if the Alberta reference price (a forecast of the fiscal year’s average price) rises above a Prescribed Price, currently $5.50 per gigajoule. If the market price of natural gas exceeds the prescribed price, the Minister of Energy may recommend to Cabinet to authorize a rebate and the appropriate amount. Rebates automatically terminate if the Alberta Price falls below the Prescribed Price.
