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Suncor Energy Inc
Symbol SU
Shares Issued 1,285,837,925
Close 2024-05-14 C$ 53.50
Market Cap C$ 68,792,328,988
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Globe says Suncor unhappy with Alberta's energy laws

2024-05-15 08:31 ET - In the News

The Globe and Mail reports in its Wednesday edition that Alberta's electricity legislation is unfair, undermines reliable power supplies and must be changed to deal with widespread problems that have plagued the grid this year. The Globe's Emma Graney writes that those are the charges contained in a complaint by Suncor filed to the Alberta Utilities Commission. It is the latest in a string of woes that have beleaguered the province's power market. Suncor is a massive industrial power consumer. It generates some electricity for its own use, with the excess power sold into the Alberta power market. Its complaint centres on one specific part of the Electric Utilities Act, called Rule 203.1. Under the rule, generators must always offer the maximum volume of megawatts they are physically able to supply to Alberta's power market. It is called the "must offer obligation." Power importers, however, are under no such obligation; they can offer any amount of megawatts to the market they please, or none at all. Alberta imports power from British Columbia, Montana and Saskatchewan to supplement generation in the province. In February, Berkshire Hathaway Energy Canada alleged that Alberta discriminates against energy imports.

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