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.
More info
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: August 19, 2021