21:56:48 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Cenovus Energy Inc
Symbol CVE
Shares Issued 1,896,401,668
Close 2023-08-04 C$ 25.50
Market Cap C$ 48,358,242,534
Recent Sedar Documents

Globe/CP say Cenovus, rivals hear Smith confusing Leach

2023-08-08 07:50 ET - In the News

Also In the News (C-CPX) Capital Power Corp
Also In the News (C-ENB) Enbridge Inc

The Globe and Mail reports in its Tuesday, Aug. 8, edition that Alberta Premier Danielle Smith says Ottawa is one of the reasons why her government has placed a six-month moratorium on approving new wind and solar power projects, arguing the feds are preventing development of backup generation for renewable energy such as natural gas. A Canadian Press dispatch to The Globe reports that Ms. Smith said that backup plants powered by natural gas are needed for when wind is not blowing or the sun is not shining. However, she said, the federal government does not want Alberta to add any new natural gas electricity plants to the grid. The rationale was confusing for an energy market economist, who said there is not a requirement in Alberta's market for generators to be able to supply power 24/7. "If somebody adds solar to the grid, you don't need to add backup to compensate for it," said University of Alberta energy economist Andrew Leach. He said it is possible the addition of cheap wind and solar energy could discourage natural gas-powered projects by lowering the price of electricity. However, he said the reverse is also true -- that fossil-fuel projects could discourage green ones.

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