Canadian Power – Alberta Regional Overview

Introduction & Market Update

Over the past year, Alberta's energy industry has continued to be the central focus for the Province with an emphasis on innovation and diversification. In 2020, Canada faced the largest public health crisis in a century, the worst global economic crisis since the 1930s and a crippling collapse in energy prices. In response to the downturn, the Government of Alberta released a Recovery Plan in June 2020. The Province committed to diversifying Alberta's energy industry through a number of strategies and regulations which include: (i) Alberta's Natural Gas Vision and Strategy which lays out a plan for the Province to become a global supplier of clean, responsibly sourced natural gas, which includes the supply of hydrogen; (ii) a new mineral strategy to optimize Alberta's resource potential, including lithium; and (iii) the introduction of Bill 36, the Geothermal Resource Development Act, to establish a regulatory scheme for the development