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Originally Posted by puffnstuff
https://www.cbc.ca/news/canada/calga...408m-9.7128473
One of Alberta’s biggest and most venerable companies is declaring a $408-million hit to the value of its wind and solar projects in the province, and is largely blaming the Smith government’s electricity system reforms for being “detrimental” to investment in renewable energy.
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The company may pursue “legal recourse” if negotiations and lobbying efforts fail to modify the government’s system reforms, the Feb. 26 company management discussion report states.
“The company believes the changes in policy, and resulting uncertainty for large infrastructure investment, is detrimental to the government of Albertaʼs stated objectives to promote investment in the province of Alberta,” the document states.
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The lack of new power transmission lines from the wind- and solar-heavy southeast part of Alberta has forced the system regulators to curtail some companies’ generation.
The ATCO company’s Forty Mile project has been one of the hardest hit. Twenty-five per cent of its total potential power generation was curtailed last year, according to a report by the provincial Market Surveillance Administrator.
Additional forthcoming regulations will extend this issue, the company says, meaning its major wind farm “remains exposed to sustained curtailment and uncertain timelines for relief, which will continue to depress cash flows until definitive transmission solutions are implemented.”
Canadian Utilities is warning that other recent reforms are also financially harmful. Among them, pricing changes as part of Alberta’s energy market restructuring will further depress potential revenues for the company’s existing wind and solar developments, the company’s report stated.
All told, provincially legislated changes “have materially and retroactively altered the economic conditions under which these renewable assets were developed and financed,” the ATCO company said in the document.
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https://www.cbc.ca/news/canada/calga...408m-9.7128473
Cool cool, maybe they can raise property taxes some more to pay for another legal settlement due to their moronic ideological governance.
Where the #### are all the fiscally conservative free market CP'ers who voted for this #### hanging out? They seem so quiet these days... Oh right, at least one ran off to America after taking this giant dump on us.