19:14:46 EDT Thu 31 Oct 2024
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Imperial Oil Ltd
Symbol IMO
Shares Issued 566,667,118
Close 2023-10-12 C$ 83.12
Market Cap C$ 47,101,370,848
Recent Sedar Documents

Globe says Tourmaline told feds counter Alta. gas fears

2023-10-13 08:14 ET - In the News

See In the News (C-TOU) Tourmaline Oil Corp

The Globe and Mail reports in its Friday edition that almost all of Alberta's natural-gas-fuelled power plants could operate in some capacity after 2035 under Ottawa's draft clean electricity regulations, according to a federal government analysis, throwing into question the province's assertions that its power grid is under threat. The Globe's Emma Graney writes that the feds released the proposed regulations in August. The unprecedented intervention into electricity policy is aimed at ensuring that non-emitting power serves as the backbone of Canada's transition to a low-carbon economy. Alberta's United Conservative Party Premier, Danielle Smith, has labelled the plans irresponsible and unconstitutional, arguing they will doom the province's power grid, which relies heavily on natural gas. The goal of the regulations is to reduce emissions from Canada's power grid to close to net zero by 2035, a timeline Ms. Smith says is unrealistic. According to an analysis by his office, various provisions contained in the draft regulations mean that 73 of Alberta's 86 natural-gas-fired power plants will still be able to operate in some capacity beyond 2035. Existing plants will also be grandfathered into new regulations.

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