14:02:15 EDT Tue 07 May 2024
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Enbridge Inc
Symbol ENB
Shares Issued 2,022,659,525
Close 2023-08-04 C$ 48.08
Market Cap C$ 97,249,469,962
Recent Sedar Documents

Globe says Smith's UCP gov't shocks Cenovus, others

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

See In the News (C-CVE) Cenovus Energy Inc

The Globe and Mail reports in its Monday edition that Alberta Premier Danielle Smith's UCP government shocked the renewable energy industry last week, when it imposed a seven-month freeze on renewable project approvals. The Globe's Jeffrey Jones writes that the government says it will use the time to review where projects can be built, how to ensure installations are cleaned up when they reach the end of their commercial lives and how the surge in wind and solar affects the electric grid. Industry supporters said the move is short-sighted and risks diverting investment capital to other jurisdictions. Ms. Smith was already pushing back against Ottawa's plan for a net-zero power grid by 2035, saying it would damage the provincial economy and pile massive costs onto consumers. She wants the province to shoot for a 2050 target instead. The Alberta Electric System Operator last year pegged the cost of additional generation and transmission at $44-billion to $52-billion through 2041. The Pembina Institute disagrees. It issued a report in June that said a net-zero grid is not just possible, but getting there will make the system more efficient and cost $27-billion to $28-billion less than under the AESO's scenario.

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