Clarity Amidst Uncertainty - Minister Phillips Reiterates Renewable Power Commitment

For those of us attending this week's Alberta Power Symposium in Calgary, we listened closely to the keynote address delivered by Alberta's Environment and Parks Minister, the Hon. Shannon Phillips. The title of the Minister's address was "Plans for Alberta Energy: Clarity and Direction in a Time of Uncertainty". The clarity and direction takeaways from her address that are noteworthy for market participants to know are:

1. The Province of Alberta states that 30 percent of electricity used in Alberta will come from renewable sources by 2030. In fact, the Province appears to have put a tag line of "30 by 30" on this policy;
2. To get there, the Province will provide financial support for 5,000 MWs of new renewable power projects to be constructed in the Province over the next 14 years. The 5,000 MWs is the first concrete number provided to date, as most of us have been assuming a number of 4,200 MWs. The Province estimates that building these new renewable projects