Municipal Energy Corporation
Background
At the July 5, 2021 City Council meeting, Administration presented a feasibility report with a preliminary study and recommendations regarding a potential municipally owned energy corporation (MEC).
The proposed corporation would be a way of generating new revenue to offset declining traditional sources of revenue in St Albert.
What is a Municipal Energy Corporation?
A Municipal Energy Corporation focuses entirely on energy projects including (but not limited to), electrical generation, energy efficiency opportunities, EV charging stations, solar power, etc.
This is not a Municipal Utility Corporation. The previously proposed Municipal Utility Corporation differs from this model as it would have focused on the delivery of alternative utility services. A utility corporation offers services such as water, wastewater, stormwater and waste management utility services.
The focus of the Municipal Energy Corporation is on utilizing the ever-growing green energy industry. Investing in green industries strives to generate revenue and profits while working to increase social good and mitigate environmental problems.
About the Project
The MEC is a reasonable and moderately low risk venture that would generate revenue to support City driven initiatives without impacting the tax base and provide a sustainable revenue stream to the City. If approved, the intention is to provide a service to residents, keep net revenues within the City framework and ultimately grow ventures geographically.
The most viable sources of revenue for the MEC are energy generation through solar power generation, including small-scale rooftop arrays as well as large-scale solar power projects, and the provision of a network of EV charging stations throughout the City.
The first project that could be managed by the MEC is the Solar Farm array currently being considered for construction on a parcel of land in the City’s northwest. New revenue generated by the Solar Farm could bring numerous environmental benefits to the city and could be reinvested by the MEC into new energy projects, generating even more revenue and environmental benefits for the city.
More info on the Solar Farm
Energy Corporation Feasibility Report - Presented to Council on July 5, 2021
Timelines
The Municipal Energy Corporation is currently in the feasibility phase with a detailed business plan coming back to Council in early 2022.
Related Pages
Last edited: July 23, 2021