Published on July 13, 2021
Municipal Energy – A Ray of Opportunity
Administration presented a feasibility report to City Council on July 5, with a preliminary study and recommendations for a potential municipally owned energy corporation (MEC).
The corporation would be a way for the City of St. Albert to generate new revenue that could support the community without implications to taxpayers.
What is a Municipal Energy Corporation?
A Municipal Energy Corporation focuses entirely on energy projects. This could mean finding energy efficiency opportunities such as EV charging stations or electrical generation throughout our community. It also includes utilizing solar power and the green energy industry that is becoming vital in mitigating environmental issues.
The corporation is NOT a Municipal Utility Corporation. A Utility corporation is different because it focuses on utility services, such as water, waste management, storm water, etc.
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.
How Could an Energy Corporation Help St. Albert?
The traditional sources of revenue, such as government grants, are declining. The proposed corporation would be a way of generating a sustainable new revenue stream to minimize future tax increases.
An energy corporation would also harness some of the green industry opportunities and make St. Albert an even more environmentally friendly community.
The Municipal Energy Corporation is currently in the feasibility phase with a detailed business plan coming back to Council in early 2022.
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Last edited: November 26, 2021