Alberta Party Opposition analysis finds Balancing Pool facing bankruptcy by the end of the year
Posted on September 09, 2016 by Meagan Wade
EDMONTON, AB - September 9, 2016 - Using publicly available information the Alberta Party Opposition has calculated that the Balancing Pool will be out of money by the end of this year.
“The NDP were unprepared for the impact of their climate change plan would bring and it’s Albertans, through the Balancing Pool, that will pay the price,” said Clark. “The government is trying to hide their ineptitude through an ill-considered lawsuit, drawing out the process, handcuffing the Balancing Pool and causing greater harm to both industry and everyday Albertans.
“The NDs need to drop this lawsuit and come up with a plan to resolve this problem.”
Clark said the NDs should accept the return of Power Purchase Agreements and allow the Balancing Pool to run the plants as economically as possible to minimize the cost to Albertans.
“Our analysis shows the ND lawsuit has put the Balancing Pool on a fast path to bankruptcy,” said Clark. “If they allowed the Balancing Pool to accept the PPAs they would cancel some and operate the remainder as economically as possible, reducing losses far below the government’s inflated cost estimates.”
“Bankrupting the Balancing Pool will likely lead to more lawsuits and it will certainly add more debt,” said Clark.
“The NDP are thinking politics, not governance, and Albertans continue to pay the price through higher electricity bills and an unstable investment climate. There’s still time for the NDs to do the right thing”.
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