Electricity giant TransAlta is withholding all of their Alberta investment citing Alberta’s climate policies.
Way back in October 2015,TransAlta announced they were putting their new state of the art Sundance 7 natural gas electricity generation plant west of Edmonton, on hold.
TransAlta CEO Dawn Farrell said at the time “We need a clear government policy framework for gas...Simply moving greenhouse gas risk from coal to gas is not helpful to our shareholders.”
She went so far as to call Alberta “a difficult operating environment”.
Now, four short months later, TransAlta is withholding all Alberta investment. All of it. They’re done with us for now and who could really blame them? This couldn’t come at a worse time. All that withheld investment is also withheld job creation when Albertans need it the most.
TransAlta is once again blaming the NDP policies, in particular the cost of the uncertainty of the NDP’s coal phase out. TransAlta found out in November 2015 that all Alberta coal fired power plants would have to be shut down or become emissions free by 2030 as part of the NDP’s climate policies. Coal power companies are looking for compensation for the early shutdown of their often multibillion dollar facilities.
A negotiator who would determine compensation was supposed to be in place by January and now, in the latter half of February, there is still no one appointed.
TransAlta CEO Dawn Farrell speaking out again. She said, “We cannot make any major investment decisions in this market until we have more clarity around the policy environment and the policy recommendations turn into actual law and we know what the market is actually going to be like.”
Why would anyone do business here? Our government is trying to rewrite our entire economy to suit their own green agenda at such a breakneck speed that they can’t even meet their own self imposed timelines.
The climate policy framework in Alberta is a garbage fire. Just like the economy.