On March 3, 2016, the Government of Alberta took its first step in implementing the Climate Leadership Plan by officially announcing that the Alberta Electric System Operator (AESO) has been chosen to develop and implement a renewable electricity incentive program for the procurement of renewable generation capacity by 2030 (Renewable Electricity Program). In delivering this mandate, the Province confirmed:
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- The Renewable Electricity Program will be implemented through a competitive process to keep costs as low as possible;
- The process is to be carefully managed and will operate in concert with the retirement of coal generating units; and
Over the last 10 years, the government has directed the expenditure of billions of dollars of public money on electricity projects with virtually no oversight or checks and balances. During this time, Ontario consumers have seen a large increase in electricity prices, with more to come.
In response to concerns about the rising cost of electricity and poor governance, the Ontario government has touted its proposed Bill 135 as the solution. However, far from solving the concerns about electricity-sector governance, the proposed Bill entrenches and expands the status quo and provides no role for oversight of government electricity directives.
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As part of our continuing series of blog posts highlighting specific topics addressed in our publication Canadian Power: Key Developments in 2015 /Trends to Watch for in 2016, we focus here on our analysis of developments and anticipated trends in Project Finance, including future opportunities in 2016.
The National Power Group at McCarthy Tétrault LLP recently released Canadian Power: Key Developments in 2015 /Trends to Watch for in 2016. This publication provides an unprecedented overview of the most significant developments in the Canadian power industry and to highlight key trends to watch for. In addition to providing … Continue Reading