Quote:
Originally Posted by Weitz
Why does Capital Power claim then that:
"When companies purchased the PPAs at auction, they bid on the Arrangements based on their terms, which included the change in law protection. Collectively, we and other Buyers paid $3 billion for the PPAs — money that was returned to Albertans by the Government through the Balancing Pool. Buyers would have paid substantially less to purchase any PPA that was missing a change in law clause"
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Well, there may be differing views on exactly what happened 16 years ago. Not exactly surprising.
I would note though that there was always a change of law provision in the PPAs. However, the language changed the day before the auction. The issue is whether or not buyers were aware of the change in language, not the existence of a change in law provision. It's not at all clear what Capital Power is referring to above.