ENMAX has received notice from the Balancing Pool confirming our entitlement to terminate the Keephills Power Purchase Arrangement (PPA).
As recently
announced, the Court of Queen's Bench had ordered the Balancing Pool to fulfill its legal duties by completing the process of assessing and verifying the ENMAX termination notice in good faith and without further delay. The Balancing Pool had previously declined to carry out this process due to a Court application commenced in July 2016 by the Attorney General of Alberta regarding PPA terminations.
The Attorney General matter remains before the Courts and ENMAX remains confident in its overall legal position relating to the PPA terminations, which has been strengthened by success in two related
Court
decisions. ENMAX continues to contend that the PPA terminations were legal, reasonable and foreseeable.