Business
Guilbeault says no exceptions for net-zero grid; Alberta counterpart calls remarks ‘infuriating’
The comments come a day after Alberta Premier Danielle Smith termed the draft Clean Electricity Regulations (CER) “disastrously uninformed and totally disconnected from reality,” maintaining they could lead to blackouts in a province that relies on natural gas to keep the lights on.
The UCP government has initiated a $8-million national advertising campaign opposing the federal plan, which would require electricity grids across the country to be net-zero within a dozen years, instead of Alberta’s push for 2050.
“I would call on Premier Smith to work with us constructively to ensure that these regulations are the most efficient for all Canadians,” Guilbeault told reporters on Friday.
Alberta wants to see the federal timeline shifted to 2050, giving utilities more time to invest in technology to decarbonize while ensuring there’s enough gas-fired electricity generation to back up the growing amount of intermittent renewable power in the province.
The proposed regulations were unveiled last month and are open for comment until early November. They do not entirely stop the use of gas in power generation after 2035, but would sharply limit its use if a facility isn’t tied to carbon capture and storage.
Guilbeault said the draft rules already contain flexibility mechanisms for utilities to reach the federal goal.
“These regulations will not prevent the use of natural gas for electricity production. This is not a ‘no fossil fuel regulations’ for 2035 … but our goal is to minimize the emissions from electricity produced through gas,” he said.
“That’s what fighting climate change looks like — limiting the amount of fossil fuels we’re using.”
Schulz said the comments from her federal counterpart are “infuriating, especially given we are at the table in good faith” through a joint federal-provincial working group.
“We are not asking for a special carve-out. We are not asking for special treatment,” she said.
“What we are asking for is the ability to deliver on our area of provincial jurisdiction, which is to provide affordable and reliable power to Albertans. We’re not the only province in this position right now.”
The latest exchange comes with both sides disparaging the other over energy and climate policies, including the electricity regulations and incoming oilpatch emissions limit.
On Thursday, the Alberta Electric System Operator (AESO) took the unusual step of criticizing the federal plan, saying it wasn’t feasible for the province to meet the national electricity target.
AESO officials believe it could lead to inadequate power supply after 2035 and potentially trigger blackouts. Wholesale electricity costs in the province’s deregulated system would be $118 billion higher than extending the transition until 2050, according to its analysis.
The decarbonization task for Alberta is significant, as 72 per cent of electricity last year came from gas-fired generation and another 12 per cent from coal. Alberta has the highest provincial emissions in the country.
With the phase-out of coal-fired electricity generation completed next year, Alberta will need natural gas to provide baseload power in the province, said AESO chief executive Michael Law.
“The CER does not recognize the provinces are at different starting points,” Law said.
“Alberta is at a huge disadvantage and faces a much greater challenge to decarbonize its power system than most other provinces.”
Jason Wang of the Pembina Institute called upon the AESO, which manages the provincial electricity system, to release the full analysis that supports its claims, and noted his group’s own research found multiple ways for Alberta’s power system to reach net-zero emissions by 2035.
“What the province has been asking for — for flexibility for gas to still be available — these are things that the clean electricity regulations actually offer,” he said Thursday.
With the phasing out of coal, emissions from the province’s electricity sector have dropped more than 44 per cent to 27.7 megatonnes since 2005.
The AESO believes carbon capture, energy storage, hydrogen and small modular reactors are promising technologies for the provincial system, but firm infrastructure to underpin the grid is still needed.
“The piece about no flexibility is worrisome to me because that is exactly what we’re looking for,” Schulz added.
“As provinces, we all have unique situations when it comes to our grid.”
TORONTO – Roots Corp. may have built its brand on all things comfy and cosy, but its CEO says activewear is now “really becoming a core part” of the brand.
The category, which at Roots spans leggings, tracksuits, sports bras and bike shorts, has seen such sustained double-digit growth that Meghan Roach plans to make it a key part of the business’ future.
“It’s an area … you will see us continue to expand upon,” she told analysts on a Friday call.
The Toronto-based retailer’s push into activewear has taken shape over many years and included several turns as the official designer and supplier of Team Canada’s Olympic uniform.
But consumers have had plenty of choice when it comes to workout gear and other apparel suited to their sporting needs. On top of the slew of athletic brands like Nike and Adidas, shoppers have also gravitated toward Lululemon Athletica Inc., Alo and Vuori, ramping up competition in the activewear category.
Roach feels Roots’ toehold in the category stems from the fit, feel and following its merchandise has cultivated.
“Our product really resonates with (shoppers) because you can wear it through multiple different use cases and occasions,” she said.
“We’ve been seeing customers come back again and again for some of these core products in our activewear collection.”
Her remarks came the same day as Roots revealed it lost $5.2 million in its latest quarter compared with a loss of $5.3 million in the same quarter last year.
The company said the second-quarter loss amounted to 13 cents per diluted share for the quarter ended Aug. 3, the same as a year earlier.
In presenting the results, Roach reminded analysts that the first half of the year is usually “seasonally small,” representing just 30 per cent of the company’s annual sales.
Sales for the second quarter totalled $47.7 million, down from $49.4 million in the same quarter last year.
The move lower came as direct-to-consumer sales amounted to $36.4 million, down from $37.1 million a year earlier, as comparable sales edged down 0.2 per cent.
The numbers reflect the fact that Roots continued to grapple with inventory challenges in the company’s Cooper fleece line that first cropped up in its previous quarter.
Roots recently began to use artificial intelligence to assist with daily inventory replenishments and said more tools helping with allocation will go live in the next quarter.
Beyond that time period, the company intends to keep exploring AI and renovate more of its stores.
It will also re-evaluate its design ranks.
Roots announced Friday that chief product officer Karuna Scheinfeld has stepped down.
Rather than fill the role, the company plans to hire senior level design talent with international experience in the outdoor and activewear sectors who will take on tasks previously done by the chief product officer.
This report by The Canadian Press was first published Sept. 13, 2024.
Companies in this story: (TSX:ROOT)
The Canadian Press. All rights reserved.
VANCOUVER – Mediated talks between the union representing HandyDART workers in Metro Vancouver and its employer, Transdev, are set to resume today as a strike that has stopped most services drags into a second week.
No timeline has been set for the length of the negotiations, but Joe McCann, president of the Amalgamated Transit Union Local 1724, says they are willing to stay there as long as it takes, even if talks drag on all night.
About 600 employees of the door-to-door transit service for people unable to navigate the conventional transit system have been on strike since last Tuesday, pausing service for all but essential medical trips.
Hundreds of drivers rallied outside TransLink’s head office earlier this week, calling for the transportation provider to intervene in the dispute with Transdev, which was contracted to oversee HandyDART service.
Transdev said earlier this week that it will provide a reply to the union’s latest proposal on Thursday.
A statement from the company said it “strongly believes” that their employees deserve fair wages, and that a fair contract “must balance the needs of their employees, clients and taxpayers.”
This report by The Canadian Press was first published Sept. 12, 2024.
The Canadian Press. All rights reserved.
MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.
The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.
The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.
Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.
On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.
Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.
This report by The Canadian Press was first published Sept. 12, 2024.
Companies in this story: (TSX:TRZ)
The Canadian Press. All rights reserved.
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