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Alberta will borrow $2.2 billion to cover losses from power contracts

from Calgary Sun

The Alberta government plans to borrow more than $2 billion over four years to cover losses from power contracts, despite claims there are cheaper alternatives. Four companies that bought coal-fired electricity from generators and resold it to the grid under the deregulated market have walked away from these power purchase agreements. They claimed the deals are no longer attractive after the government raised the carbon levy on large industrial emitters last year, increasing their costs at a time they were already losing money. more

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