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Suncor Energy Inc
Symbol SU
Shares Issued 1,298,074,234
Close 2023-12-14 C$ 41.92
Market Cap C$ 54,415,271,889
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Globe says Suncor to supply more GHGs for electricity

2023-12-15 08:07 ET - In the News

The Globe and Mail reports in its Friday edition that a record amount of new natural-gas-fired power is set to come on-line in Alberta next year, providing relief for consumers but making the province's electricity grid even more reliant on unabated fossil fuels. The Globe's Emma Graney writes that more than 2,700 megawatts of new gas generation will fire up in 2024, according to the most recent long-term adequacy report by the Alberta Electricity System Operator (AESO), which manages and operates the provincial power grid. The increase amounts to just over a quarter of Alberta's current generating power being added to the grid in a single year. The bulk of the new electricity coming on-line is from three projects: the 900-megawatt Cascade plant in Edson west of Edmonton; an 800 MW cogeneration project at Suncor Energy's oil sands Base Plant; and the repowering of Genesee 1 and 2, a coal-to-gas conversion plant southwest of Edmonton, bringing just over 930 MW to the grid. It is the largest addition of natural gas-fired power to the province's grid in a single year, according to the AESO -- and it is set to help Alberta consumers who have faced crippling increases in their power bills over the past two years.

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