City council requested the third-party review in September 2023. (City of Medicine Hat)

By Eli J. Ridder | @EliRidder

City of Medicine Hat chooses KPMG for third-party energy business review

Mar 7, 2024 | 5:00 PM

KPMG LLP was chosen Thursday to carry out an independent review of Medicine Hat’s energy business, a third-party inspection ordered by council after skyrocketing electricity rates rocked the city in the summer of 2023.

The city awarded the contract to KPMG out of several applicants after a request for proposal was sent out, it said in a news release.

The City of Medicine Hat owns and operates its own electric generation and natural gas production business and remains the only municipally-owned commodity business of its kind in Alberta.

The city also owns and operates its own electric and natural gas distribution businesses and is the sole electric retailer within the local electric franchise area.

The intent of the review is to ensure that ownership, governance, financial, rate design approach, and other relevant considerations are assessed to deliver optimal value for the community in light of changing community and external circumstances.

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“The innovative spirit of our forefathers established an energy business that provided an exceptional quality of life for Medicine Hat residents for more than a century,” Mitchell said.

“With the transition to a low-carbon future looming, we must ensure that the way we manage this business makes sense, and that we are willing to adapt in a way that benefits both our current and future generations,” she added.

“I am eagerly awaiting the results of this review to shape the future of our energy business.”