Today, Wildrose Shadow Electricity & Renewables Minister Don MacIntyre released the following statement on the government’s troubling and total misinterpretation of Power Purchasing Arrangements (PPAs) in the province:
“The Premier’s comments yesterday about PPAs, and her inability to acknowledge that the government is on the hook because of past changes, not future ones, is astounding.
“Either the Premier and her ministers don’t understand this crucial file, or they are blindly ignoring the facts. Section 4.3(j) of the PPA explicitly outlines the right of a company to return its contract on the grounds of a “Change in Law”.
“Such a 'Change in Law' occurred in June 2015 when the NDP made changes to the Specified Gas Emitters Regulation through an Order in Council and Ministerial Order.
“The balancing pool, an impartial and arm’s length body that was created specifically to protect the grid and taxpayers from political interference, has also confirmed the rights of these power companies to cancel their PPAs.
“You can’t ignore the terms of a binding contract entered into in good faith by companies who have committed billions to these projects. The Premier’s comments are damaging to the industry, and their haste to implement policies based not on evidence but ideology is destroying communities and hurting everyday Albertans.”