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Alberta

Analysts say natural gas could go even higher after breaking 14-year record this week

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CALGARY — The price of natural gas hit heights not seen since 2008 this week and analysts say it could go even higher this summer.

The U.S. benchmark natural gas price hit is currently trading at around US$8.60 per million British thermal units, or MMBtu. It surged to over $9 earlier in the week.

Analysts say the price could break $10 this summer due to low inventories and global concerns about energy security.

Summer heat waves could also push prices higher by driving up electricity demand.

The surging prices are good news for Western Canada, where the country’s natural gas production is concentrated.

But an industry group says labour shortages remain an ongoing challenge for drillers.

This report by The Canadian Press was first published May 27, 2022.

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Alberta

Alberta extends electricity rebate program until December at a cost of about $600M

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Edmonton – The Alberta government says it will extend its electricity rebates until the end of the year as the cost of living continues to rise.

Dale Nally, who’s the associate minister of natural gas and electricity, says the United Conservative government is doubling the rebate to help reduce the financial burden on Albertans.

The government says the electricity rebate program will now offer about $600 million in relief through 2022.

It says the program will provide nearly two million homes, farms and small businesses with a monthly $50 bill credit each month from July until December.

The government says it will also provide a natural gas rebate to millions of Albertans starting in October, which will continue until March 2023 if prices remain high.

Last week, Finance Minister Jason Nixon announced a $3.9-billion surplus for the 2021-22 fiscal year ending March 31.

This report by The Canadian Press was first published July 6, 2022.

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Alberta

Telus Corp. marks opening of Telus Sky in downtown Calgary

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CALGARY — Telus Corp. marked the opening of its new 60-storey Calgary headquarters on Wednesday.

The new $400-million skyscraper, Telus Sky, has been in development for nine years and is now the third-tallest building in downtown Calgary. It features 750,000 square feet of office and retail space as well as 326 rental homes.

The building’s eye-catching design, by architects Bjarke Ingels Group (BIG) and Dialog, along with developer partner Westbank and Allied, starts with a rectangular floorplate and then gradually twists as it rises.

Integrated into the facade of Telus Sky is Canada’s largest public art display. “Northern Lights” by Canadian author and artist, Douglas Coupland, creates a light show across the building’s exterior.

Telus Sky will be home to more than 1,600 Telus employees. It joins TELUS Garden in Vancouver, TELUS Harbour Toronto, TELUS House Ottawa, and Place TELUS Québec as one of the company’s LEED (Leadership in Energy and Environmental Design) Platinum-certified buildings.

Among the building’s environmental features is a storm water management system that recycles rainwater for use in washroom toilets, reducing the building’s municipal water demand by 70 per cent.

This report by The Canadian Press was first published July 6, 2022.

Companies in this story: (TSX:T)

Amanda Stephenson, The Canadian Press

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