ENMAX
has
received a
favourable
Court
decision
from a legal proceeding involving the
effective date of
its Battle River Power Purchase Arrangement (PPA) termination.
The proceeding
involved a dispute that arose between ENMAX and the Balancing Pool when
ENMAX provided the Balancing Pool with notice of termination of the Battle River
PPA, effective January 1, 2016.
While
ENMAX contended
January 1, 2016 was the date
on which the
Balancing Pool
assumed the rights and obligations under the PPA, the
Balancing Pool contended the effective date of termination was delayed until its appointed agent began dispatching the PPA on July 13, 2016. The parties ultimately agreed to have this dispute resolved by the Court and through its decision, the
Court
has now
ruled
in favour of ENMAX in
that the
termination was in fact
effective January 1, 2016.
With respect to
the larger outstanding legal questions in the
current
Government of Alberta's Court Proceeding regarding the PPAs,
ENMAX remains confident in
its legal position and is committed to seeking
a resolution that reflects the best interests of our Shareholder, the 1.2 million citizens of Calgary.