Financial Post;
The province’s attorney general filed a bizarre lawsuit Monday to stop power companies – including utilities owned or partially owned by Alberta’s two largest cities, Calgary and Edmonton – from backing out of power contracts made less profitable by Alberta’s increased carbon costs.
The lawsuit also strangely targets its own regulatory agency, the Alberta Utilities Commission, for “unlawfully” agreeing to terms in 2000 that allowed termination of so-called Power Purchase Arrangements “if a change in law renders the PPA unprofitable, or more unprofitable.”
Strangely, Rachel Notley’s NDP government claims it wasn’t aware of the out clause until recently.
An African or European PPA?