Alberta’s natural gas rebate taking effect sooner than anticipated

Premier Jason Kenney previously said if natural gas prices went higher than $6.50 per gigajoule, then a rebate program would kick in, but not until October of this year.

Now it seems as though it will take effect sooner, as in recent days the price has passed that threshold.

“Cabinet just made some policy decisions today, the details are being finalized by Treasury Board and Finance as well as the Department of Energy,” Kenney said.

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He says the cost of the rebate program will depend on the price of natural gas going forward.

“If they were to stay around $7 a gigajoule–or $7.50–and we were to provide this rebate for the increment between $6.50 and the actual price, that will probably be a few hundred million more dollars,” Kenney said.

Kenney also mentioned the $150 rebate for power bills will also be sent out this spring, but didn’t offer further details.