BANFF, Alta. -- Electricity prices will quadruple as countries toughen their stance on greenhouse gas emissions, and governments need to brace the public for the price spike, a chief executive of a major power generating company said Friday.
Further, as jurisdictions search for cleaner energy sources, Hal Kvisle, chief executive of TransCanada Corp., said Alberta should use its vast coal resources rather than burn natural gas, a plentiful and exportable fossil fuel in Canada and considered a cleaner alternative to oil.
"Electricity consumers have to get used to paying $200 a megawatt hour rather than $50 a megawatt hour," he told reporters at the Global Business Forum in Banff. "It is time we get that message out to people. They need to be prepared for it."
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