Alberta's Balancing Pool Confirms Right To Terminate Keephills Power Purchase Agreement

Following ENMAX Energy Corporation's (ENMAX) successful application to obtain a mandatory injunction against the Balancing Pool of Alberta (as reported in our November 2017 Blakes Bulletin: Alberta Court of Queen's Bench Grants Mandatory Injunction Against Balancing Pool), the Balancing Pool has performed its assessment and verified and accepted ENMAX's notice terminating the Keephills power purchase agreement (PPA) (Keephills Termination Notice), effective May 5, 2016, the date ENMAX terminated the PPA.

Another ENMAX affiliate had previously terminated the Battle River PPA effective January 1, 2016 and the Balancing Pool performed its assessment, verification and acceptance of that termination within about four weeks. Internal documents obtained from the Balancing Pool demonstrated that it typically took four to six weeks to complete an assessment and verification of a claimed PPA termination.