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Alberta

APP Update: Chief Actuary of Canada to provide opinion on Alberta’s share of CPP assets

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Alberta Pension Plan engagement

The Alberta Pension Plan Engagement Panel is giving the office of the chief actuary of Canada some time to release findings before scheduling new public sessions.

This fall, the Alberta Pension Plan Engagement Panel, led by former provincial treasurer Jim Dinning, invited Albertans to discuss the findings of an independent report on a potential provincial pension plan. The panel has been collecting feedback from Albertans since then, with more than 76,000 Albertans participating in five telephone town hall sessions and more than 94,000 Albertans completing the online survey. The first phase of the engagement is now complete, and the panel will now analyze what it has heard from Albertans so far.

“Albertans can rest assured that their voices have been heard and that’s why I tabled the Alberta Pension Protection Act, which provides Albertans with certainty that their pension contributions are safe and that we will not proceed with a provincial plan without their say through a referendum. This is a complex process and one that we do not take lightly.”

Nate Horner, President of Treasury Board and Minister of Finance

During this first phase of engagement, it quickly became clear that Albertans wanted more precise information on the value of the asset transfer Alberta would be entitled to receive if it were to withdraw from the Canada Pension Plan. While the LifeWorks report was able to provide a reasonable asset transfer value by relying on publicly available data, determining a more precise number requires analysis from the federal government.

Following discussions between Canada’s finance ministers, the federal finance minister has committed to asking the chief actuary of Canada to provide an opinion on Alberta’s share of the CPP assets. Alberta’s government is hopeful that this work can be completed promptly so that Albertans can have as much information as possible as they consider the possibility of a new plan. To that end, the panel has decided to give the chief actuary of Canada some time to release their findings before scheduling new public engagement sessions.

Albertans continue to have the opportunity to participate in the conversation by reading the information on AlbertaPensionPlan.ca and completing the online workbook.

“We are pleased with how many Albertans we have reached with our consultations to date. The LifeWorks report presents an opportunity worth exploring and Albertans have answered that call, but what we’ve heard loud and clear is that they want to hear how the federal government calculates the asset transfer number. We will start the next round of public meetings when we have more clarity on that number, but in the meantime, we encourage everyone to have a look at our workbook and provide feedback there.”

Jim Dinning, chair, Alberta Pension Plan Engagement Panel

Throughout this entire process Alberta’s government committed to ensuring the most-up-to-date information is provided to Albertans.

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Alberta

Male suspect involved in tragic incident between Beaumont and Edmonton sought by police; EPS release photos of suspect

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News release from the Edmonton Police Service (EPS)

The Edmonton Police Service (EPS) is assisting the RCMP with the investigation into a tragic incident that claimed the life of an innocent woman last night on 50 Street.

Yesterday, Saturday, Feb. 24, 2024, at approximately 9:40 p.m. various EPS resources were deployed to the area of 50 Street and 22 Avenue SW at the request of the RCMP. It was reported to police that RCMP attempted to conduct a traffic stop on a suspicious U-Haul in Beaumont, when the vehicle fled. The U-Haul subsequently travelled north on 50 Street into Edmonton, where it struck and killed a woman inspecting the exterior of her vehicle. Moments later the U-Haul came to rest just outside a gas station off of 22 Avenue and 50 Street.

After crashing the U-Haul, the male suspect then reportedly stole a Honda Civic that was parked outside the gas station with a child inside. Police did consider an Alert to the public at the time, though thankfully the child was located unharmed in the area of 66 Street and 25 Avenue minutes later. The suspect then fled the scene in the Honda Civic. The stolen vehicle has since been recovered outside of Edmonton.

The EPS and RCMP continue to actively seek the identity and whereabouts of the male suspect described as being approximately 5’11” who was last seen wearing a black hoodie with white text on the front, brown shorts and black shoes. CCTV photos of the suspect are included below.

“We are incredibly saddened to hear about the tragic death of the innocent woman who was killed on 50 Street,” says Det. Nigel Phillips with the EPS Investigative Response Team. “Our hearts are with her family and friends who will now have to carry on with this unfathomable loss.”

“We are doing everything we can to track down the suspect and we trust the public will help us identify and locate him as soon as possible.”

Assist to identify and locate: Male suspect running in area of 50 Street & 22 Avenue SW
While the RCMP is leading this investigation, the EPS is assisting and working collaboratively with its law enforcement partners.

Anyone with information about the suspect’s identity and/or their whereabouts is asked to contact the EPS immediately at 780-423-4567 or #377 from a mobile phone. Anonymous information can also be submitted to Crime Stoppers at 1-800-222-8477 or online at www.p3tips.com/250.

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Alberta

Low emissions, Indigenous-owned Cascade Power Project to boost Alberta electrical grid reliability

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The Cascade Power Project. Photo courtesy Kinetcor

From the Canadian Energy Centre

By Will Gibson

New 900-megawatt natural gas-fired facility to supply more than eight per cent of Alberta’s power needs

Alberta’s electrical grid is about to get a boost in reliability from a major new natural gas-fired power plant owned in part by Indigenous communities.  

Next month operations are scheduled to start at the Cascade Power Project, which will have enough capacity to supply more than eight per cent of Alberta’s energy needs.  

It’s good news in a province where just over one month ago an emergency alert suddenly blared on cell phones and other electronic devices warning residents to immediately reduce electricity use to avoid outages.  

“Living in an energy-rich province, we sometimes take electricity for granted,” says Chana Martineau, CEO of the Alberta Indigenous Opportunities Corporation (AIOC) and member of the Frog Lake First Nation.  

“Given much of the province was dealing with -40C weather at the time, that alert was a vivid reminder of the importance of having a reliable electrical grid.” 

Cascade Power was the first project to receive funding through the AIOC, the provincial corporation established in 2020 to provide loan guarantees for Indigenous groups seeking partnerships in major development projects. 

So far, the AIOC has underwritten more than $500 million in support. This year it has $3 billion  available, up from $2 billion in 2023.  

In August 2020 it provided a $93 million loan guarantee to the Indigenous Communities Consortium — comprised of the Alexis Nakota Sioux NationEnoch Cree NationKehewin Cree NationOChiese First NationPaul First Nation, and Whitefish (Goodfish) Lake First Nation — to become equity owners. 

The 900-megawatt, $1.5-billion facility is scheduled to come online in March. 

“It’s personally gratifying for me to see how we moved from having Indigenous communities being seen as obstacles to partners in a generation,” says Martineau. 

The added capacity brought by Cascade is welcomed by the Alberta Electrical System Operator (AESO), which is responsible for the provinces electrical grid. =

“The AESO welcomes all new forms of generation into the Alberta marketplace, including renewables, thermal, storage, and others,” said Diane Kossman, a spokeswoman for the agency.  

“It is imperative that Alberta continue to have sufficient dispatchable generation to serve load during peak demand periods when other forms of generation are not able to contribute in a meaningful way.” 

The Cascade project also provides environmental benefits. It is a so-called “combined cycle” power facility, meaning it uses both a gas turbine and a steam turbine simultaneously to produce up to 50 per cent more electricity from the same amount of fuel than a traditional facility.  

Once complete, Cascade is expected to be the largest and most efficient combined cycle power plant in Alberta, producing 62 per cent less CO2 than a coal-fired power plant and 30 per cent less CO2 than a typical coal-to-gas conversion.  

“This project really is aligned with the goals of Indigenous communities on environmental performance,” says Martineau. 

The partnership behind the power plant includes Axium InfrastructureDIF Capital Partners  and Kineticor Resource Corp. along with the Indigenous Communities Consortium. 

The nations invested through a partnership with OPTrust, one of Canada’s largest pension funds.  

“Innovation is not just what we invest in, but it is also how we invest,” said James Davis, OPTrust’s chief investment officer. 

“The participation of six First Nations in the Cascade Power Project is a prime example of what is possible when investors, the government and local communities work together.” 

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