Latest news with #NancySouthern
Globe and Mail
7 days ago
- Business
- Globe and Mail
Alberta regulator orders ATCO to repay $71-million to customers
Alberta utilities and logistics firm ATCO Ltd. ACO-X-T has been ordered to refund $71-million to customers, the latest development in a long-running dispute between the company and the provincial watchdog over electricity rates. But this week's decision by the Alberta Utilities Commission is far from the end of the regulatory tussle. ATCO chief executive officer Nancy Southern told shareholders at the company's annual meeting recently that ATCO intends to challenge the commission over the issue in the Alberta Court of Appeal in October. At the heart of the case is the commission's electricity rate-setting formula, called performance-based regulation. The formula is designed to encourage efficiency by providing incentives for utility companies to reduce costs. The more efficiently a utility operates, the more money it saves. Those savings are then shared with customers through lower utility rates. ATCO Electric fined $3-million for unearned rate increases, overstating its costs ATCO delivered $500-million in distribution-cost savings, which is being passed on to customers. But the commission found that those savings could not be clearly attributed to specific utility projects, programs or initiatives, as required by the commission's rules. Instead, it said that much of ATCO's savings were the result of operational changes, such as its decision not to pursue certain capital projects. The commission's judgement has come in two phases. The first, released last May, ruled that ATCO's utility rates in 2021 or 2022 'were not just and reasonable.' ATCO was granted a court appeal on that decision. The $71-million refund announced this week is the second phase of the commission's process. It separated the refund into $35-million for ATCO Electric customers, and $36-million for customers of ATCO Gas. That equates to roughly $14 per month for ATCO Electric customers for a six-month period, and $3.83 per month for ATCO Gas customers. Paul Barry, the executive director of the Industrial Power Consumers Association of Alberta, said Thursday his group was hoping for closer to $100-million for just the ATCO Electric side of the decision. Still, he's pleased some cash will be returned to customers. 'We view it as a positive, and it is setting a precedent that's a clear example of the commission seeking to hold utilities accountable,' Mr. Barry said. At ATCO's general meeting, Ms. Southern applauded the commission for implementing performance-based regulation. But, she told shareholders, ATCO and the commission have a 'major difference of opinion' in the way that the rules are applied. 'We believe we were operating within the regulatory framework,' she said. Jason Sharpe, ATCO's chief operating officer, said that ATCO had in fact built more efficient operations and lowered its rates. He said ATCO believes the commission is applying rules of performance-based regulation retroactively, hence the court challenge. The refund is to be delivered to customers over six months, beginning in September, the commission ruled. That's particularly prickly timing for the company, Mr. Sharpe said, given it overlaps with the court challenge. Mr. Sharpe said multiple requests to defer the refund decision until after the case goes through the Court of Appeal were denied by the commission. 'In our opinion, this is a premature refund until it's gone through the full appeal process,' he said, adding that it could create confusion for customers if the court finds in ATCO's favour. The commission would not comment on Wednesday's decision, but this isn't the first time it has ruled against ATCO. In 2022, ATCO was penalized $31-million after it deliberately overpaid a First Nation group for work on a new transmission line in 2018, and then failed to disclose the reasons when it applied to be reimbursed by ratepayers for the extra cost. Mr. Sharpe pointed said the latest decision 'very different,' in that it is a refund, not a penalty, and boils down to different views on how rules are applied.
Globe and Mail
21-05-2025
- Politics
- Globe and Mail
Letters to the editor, May 21: ‘As predictable as the sunrise: an early elimination of the Leafs … and the election of another Liberal government'
Re 'Separate out' (Letters, May 16): So now we have Preston Manning, still with matches in hand, suggesting that the forest fire he's tried to light can best be contained with Danielle Smith's referendum backfire strategy. Here's hoping that strategy backfires. Steve Pedretti Toronto I was pleased to read the sensible comments regarding Alberta separation by Jason Kenney and ATCO CEO Nancy Southern; much less so those of Preston Manning, who attempts a firefighting metaphor to justify Danielle Smith's words and actions. But firefighters would never deliberately make it easier for a fire to start in the first place. They would have no hesitation in saying that, after all, their goal is to put it out. Jamie Syer Mountain View County, Alta. A letter-writer from Saskatchewan asks if he is an 'owner' of Alberta. I say yes, and so is every other Canadian. Canada financed Alberta's development and connected it to the rest of the world, importing people and exporting its bountiful resources. All Canadians, through their elected representatives, would have to agree to any change to Alberta's status as a province within the federation. Until then, nobody's going anywhere. Jeremy Klein Ottawa Re 'Canada Post receives strike notice, workers set to walk out on Friday' (Report on Business, May 20): Here we go again, another strike that seems to ignore the seriousness and causes of the situation Canada Post faces going forward. Times, technologies and business models change all the time, and neither Canada Post nor the Canadian Union of Postal Workers have dealt with the problem in a timely fashion. I think the reality is that we do not need home delivery, and we probably don't need deliveries more than twice a week. Shift and work flexibility are likely required, along with a timeline to either adapt successfully or wind up the business. We cannot afford the current system. Richard Dean Sidney, B.C. Re 'Mark Carney's bulky and performative cabinet' (May 14): What is considered 'performative' seems to be the 'identity politics' of 'reinstituted ministers responsible for women and gender equality, seniors, children and youth.' As the term 'performative' is defined as something 'not sincere but intended to impress someone, prove something is true,' might the trade- and commerce-heavy cabinet also demonstrate the current desperate desire to exhibit a new concept of 'economy-signalling?' Chester Fedoruk Toronto Re 'The new math – the Carney math – of the new government" (Report on Business, May 16): The new cabinet is referred to as 'bloated' because there are 28 ministers and 10 junior ministers. Does it matter what we call them? If there weren't 'junior ministers,' would there not have to be 'senior associate assistants' or some such? If Mark Carney had named only 20 ministers, would that be 'lean?' Doesn't the same work still have to get done? This debate reminds me of the old story about the guy buying a pizza: When the cook asks if he wants it cut into eight pieces, the fellow says, 'Oh, I'm not that hungry. Better cut it in four.' Bob Rafuse Beaconsfield, Que. Yes, it looks like the old Ford Model T, same as before. But let's give Canadians an opportunity to open up the hood for themselves: There is a brand new engine inside. Let newly elected Mark Carney, with experience in crisis management, select the people he feels he needs. Robert Marcucci Toronto I recall some years ago visiting the British cabinet war rooms under Whitehall in London. The war cabinet had five chairs at the table. Just saying. A.S. Brown Kingston As predictable as the sunrise: An early elimination of the Leafs from playoff contention, with solemn promises of big changes to come, and the election of another Liberal government – with solemn promises of big changes to come. Even with a change of 'coaches' and the optimistic prospect of renewal, many of us pretend it will be different. But I can see it coming a mile away: the myopic focus on individual stats, or the convening of a comically wonky cabinet. I am now inured to the idea of such predictable mediocrity deriving from two groups who never seem to manage to equal the sum of their component parts. We might be fooled yet again, but I think the certainty of knowing the ultimate inadequacy of both teams makes the eventual failure oddly reassuring. Dave McClurg Calgary Re 'After another Leafs playoff failure, let The Core Four era end' (Sports, May 20): I am not upset that the Leafs lost Game 7, it's that I am disappointed at how they played. Laurie Kochen Toronto I don't pretend to be a hockey mastermind, but I have wondered for several years why the Leafs haven't gotten rid of one or more of the Core Four. In spite of the brilliance of each player separately, their collective radiance hasn't jelled. I was around the last time the Leafs won the Stanley Cup in 1967. It was a disappointing moment for a young Habs fan to watch the great George Armstrong hoist the vessel and parade it around the arena. Things have changed hundreds of times since then, but the definition of failure remains doing the same thing over and over and expecting a different result. The Leafs should jettison that 'wisdom' and trade or buy out a couple of the Core Four. A move like that would cause the entire bench to give its collective head a hard wake-up shake. Nancy Marley-Clarke Cochrane, Alta. My late dad George adored the Buds. Family first, the Leafs a close second. Growing up in the 1950s, George's father was an academic type who couldn't understand the infatuation with the Leafs. So, logically, his father thought it would be good to take him to a game to see for himself it wasn't anything special. I'm glad my Dad didn't see fans throwing jerseys at Game 7. Frustration sure, but that's just disrespectful to all involved. Shame on them. Squeezing the sticks, melting under pressure: Yes, but that is a common thing and only the eventual champion can say they overcame these natural tendencies. I believe the Leafs will get there sometime soon, and it will be sweet. Can't wait. Love to the Leafs, love to Dad. Roger Wright Tokyo With the Leafs eliminated yet again, have they announced the date that ticket prices will be hiked for next season? Ian Campbell Toronto Letters to the Editor should be exclusive to The Globe and Mail. Include your name, address and daytime phone number. Keep letters to 150 words or fewer. Letters may be edited for length and clarity. To submit a letter by e-mail, click here: letters@
Edmonton Journal
15-05-2025
- Business
- Edmonton Journal
Varcoe: ATCO head says separation talk 'impacting investments now,' as Canada aims to be energy superpower
Article content ATCO Ltd. chief executive Nancy Southern is feeling optimistic about the federal government's focus on building major projects across Canada — but concerned about the effect separation talk in Alberta is having on business investment. During the Calgary-based company's annual meeting on Wednesday, Southern spoke about the Carney government's commitment to developing energy corridors and getting new infrastructure built.
Toronto Star
15-05-2025
- Business
- Toronto Star
Alberta secession talk ‘unhelpful,' Atco chief executive says
CALGARY - The chief executive of Atco Ltd. says discussions around Alberta secession are already hurting the investment climate. Nancy Southern said Asian partners in a major hydrogen project have said they won't make final investment decisions unless there is certainty around the Alberta separatism question.
CBC
15-05-2025
- Business
- CBC
Alberta secession talk 'unhelpful,' ATCO chief executive says
The chief executive of ATCO Ltd. says discussions around Alberta secession are already hurting the investment climate. Nancy Southern says Asian partners in a major hydrogen project have said they won't make final investment decisions unless there is certainty around the Alberta separatism question. She says the prospect of Alberta independence is raising too many questions for companies to feel confident making big investment decisions. Those include how it would get its products to coastal ports, what kind of trade deals it would have with its neighbours, what currency it would use and how stable the economy would be. In reaction to Southern's comments, Charles St-Arnaud, chief economist with Alberta Central, told CBC News "it's not surprising. We know businesses don't like political uncertainty." He said the same has been observed in every case where there's a question of independence or a chance of a referendum, for example in Quebec and Brexit in London. "That uncertainty becomes a headwind for investment." Southern said she understands Albertans' frustration with the federal government over environmental regulations affecting the energy sector, but that she believes Prime Minister Mark Carney wants to change things. "I think the separatist discussion is very unhelpful and not constructive to Alberta," Southern said in an interview following her company's annual shareholder meeting. St-Arnaud said he anticipates more people may follow Southern's lead, speaking out about the negative consequences of secession talk in the province. "For most businesses, especially those who have to attract capital from outside Alberta or even companies that are kind of on the fence of whether or not they should be investing in Alberta or in Ontario or B.C., it can be a deciding factor in terms of whether or not investment happens in the province," he said.
