ATCO launches low-cost energy retail company in Alberta
Energy to come from natural gas and renewables
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ATCO Group has officially returned to the retail market.
The Calgary-based company launched ATCOenergy on Wednesday – a new electricity and natural gas retail company that’s promising lower costs for homes and businesses.
“All of our electricity will come from clean burning, natural gas-fired generating plants and renewable resources," said Nancy Southern, ATCO president and CEO. "That will positively change the energy retail landscape in our province.”
After signing a non-compete agreement with Direct Energy in 2004, ATCO was off the residential market for 10 years. But, now that they’re back, Southern said the company will create new jobs and lower electricity and natural gas rates as Albertans face an economic downturn.
“It’s time for Albertans to enjoy the benefits of Alberta investment, and we have not been able to offer that because of the non-compete,” she said. “It’s the right time for us to bring a low-cost solution.”
Senior vice president Steven Landry said they “want to bring relief to people in Alberta,” by offering what he claims is the lowest administration fee in the province, at $7 per month.
Customers will also receive a $50 credit every year for the duration of their agreement, and will be able to select green electricity options.
ATCO currently operates only in Alberta, but Southern said the launch is a springboard to bring ATCO Group into the global market.
“My father always said, ‘Never stop selling, never stop dreaming,’” she said, referring to the founder of ATCO, Ron Southern, who passed away last month. “We’re always thinking about what our future’s going to look like and where the next opportunities will come from.”