Alberta Premier Danielle Smith claims she is prepared to employ for the first time her government’s sovereignty act in response to the federal government’s proposed clean electricity regulations, though the effect of doing so remains unclear.
Smith made the comments while speaking to reporters at a Thursday news conference, where she reiterated her previous statements the clean electricity regulations were “unconstitutional and irresponsible” and vowed they will not be implemented in Alberta.
The Alberta Sovereignty Within a United Canada Act was the centrepiece of Smith’s successful campaign to become UCP leader and was introduced late last year.
It pledges to give Alberta the power to direct provincial agencies to act against federal laws it considers unconstitutional or harmful to Albertans, though questions remain about how it would work in practice, if at all.
“Hopefully, no one ever has to see it,” Smith said of the motion she claims to be working on. “Hopefully … we’re able to come to a peaceful resolution with our federal counterparts.”
The clean energy regulations remain in a draft phase and are not expected to be finalized until sometime next year pending the results of an ongoing 75-day consultation period.
In their current form, the clean electricity regulations would take effect in 2035, a target Alberta as well as New Brunswick, Nova Scotia, Manitoba and Saskatchewan have all argued comes too soon.
Smith’s UCP government also launched an $8-million multi-platform cross-Canada advertising campaign Thursday in opposition to the clean electricity regulations, calling them a “reckless and costly plan.”
Alberta has sought to delay the clean electricity regulations by 15 years, arguing 2050 is a more realistic target.
The regulations would establish performance standards to reduce greenhouse gas emissions from fossil fuel–generated electricity, in an effort at decarbonization.
They permit for some use of fossil fuels, including natural gas, to generate power at peak demand times or as a backup to non-emitting power sources.
Environment and Climate Change Minister Steven Guilbeault’s department estimates the regulations would remove more than 340 megatonnes of greenhouse gasses between 2024 and 2050, and would result in Canadians spending 12 per cent less on electricity.
“This is a huge economic opportunity that we do not want to miss,” he stated in an email to Postmedia.
Earlier Thursday, the operator of the arm’s-length agency responsible for Alberta’s electric system claimed the clean electricity regulations could leave parts of the province without power if those rules come into effect in 2035 as planned. But, it also declined to publish details of the supply and demand modelling and assumptions that went into its projections.
Speaking with reporters Thursday, Alberta Electric System Operator (AESO) president and CEO Mike Law said that the clean electricity regulations as currently proposed puts a disproportionate strain on Alberta and its electricity grid compared to other provinces, who have greater existing access to low-emission power sources.
“It is not minor shifts that are required,” he said. “It’s a recognition that we are in a very different position as a province than the vast majority of the country.”
More than 84 per cent of electricity in Canadian power grids is generated from non-emitting sources like hydro, nuclear and wind.
Without a cleaner source of generation to fall back on, Law claimed Alberta could face power shortages.
“Our analysis and engineering assessment is that there will not be sufficient supply within the province post-2035 to meet the demands of the province,” he said.
While acknowledging Alberta needs all sources of power generation, Law said AESO is skeptical renewables could significantly close that gap before the clean electricity regulations are slated to come into effect.
“We need to have dispatchable technologies that can meet the demands of the province when the wind isn’t blowing or the sun isn’t shining.”
Guilbeault stated he is “fully aligned” with AESO on balancing decarbonization with affordability and reliability, and encouraged the agency to provide feedback through the ongoing consultation.
University of Calgary energy economist Blake Shaffer doesn’t dispute that it will be challenging for Alberta to meet the current version of the clean electricity regulations but said it could be made more palatable with some small modifications.
“I see changes to make it such that you get the benefits of the certainty (the clean electricity regulations) provides without it binding an operation and raising costs and risking reliability too frequently.”
He was surprised at the political tone taken by the system operator, something he said threatens the perception of the agency’s independence.
“The AESO is about maintaining reliability and saying, ‘This is how we will respond to this challenge,’” he said, noting its use of the term ‘blackout’ echoed the premier’s political message delivered later the same morning.
“That sounded like a government press release.”
Both Guilbeault and Shaffer called on AESO to publish its analysis.
In early August, the Alberta government paused all approvals in the province’s renewable energy industry in response to what it said were rural and environmental concerns.
Law did not answer two questions asking if AESO requested the six-month moratorium.
Opposition energy and climate critic Nagwan Al-Guneid acknowledged the clean electricity regulations need to be improved, but also that the 2035 goal is increasingly becoming the norm across the continent and in Europe.
“There are many concrete steps the government could be taking today,” she said, suggesting as examples ending the moratorium on renewables, and building stronger power-sharing interties with neighbouring jurisdictions.
“The world is trying to figure this out while this government is thinking in the past. There are solutions.”
Of the sovereignty act, Al-Guneid said its potential introduction was “concerning.”
“It adds another layer of uncertainty.”
TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.
The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.
The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.
Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.
Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.
Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.
This report by The Canadian Press was first published Sept. 19, 2024.
Companies in this story: (TSX:GOOS)
The Canadian Press. All rights reserved.
Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.
Here’s a timeline of key events in the bread price-fixing case.
Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.
Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.
Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.
Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).
Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.
June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.
Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”
Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.
July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.
Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.
This report by The Canadian Press was first published Sept. 19, 2024.
Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)
The Canadian Press. All rights reserved.
TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.
Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.
The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.
As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.
TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.
TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.
This report by The Canadian Press was first published Sept. 19, 2024.
Companies in this story: (TSX:TD)
The Canadian Press. All rights reserved.
New Brunswick Premier Blaine Higgs expected to call provincial election today
Alberta Premier Smith aims to help fund private school construction
Sutherland House Experts Book Publishing Launches To Empower Quiet Experts
Canada’s Probate Laws: What You Need to Know about Estate Planning in 2024
Arch Manning to get first start for No. 1 Texas as Ewers continues recovery from abdomen strain
Quebec won’t fund graphite mine project tied to Pentagon; locals claim ‘victory’
New Brunswick Premier Blaine Higgs kicks off provincial election campaign
Former Canada captain Atiba Hutchinson tells his story in ‘The Beautiful Dream”
