The Canadian Press

2015-09-30 | TransAlberta Price Fixing

Preview Clip

TransAlta Corporation is offering to pay a 56-million dollar settlement, after Alberta's regulator found it deliberately timed outages at power plants to drive up electricity prices. The offer is subject to approval by the Alberta Utilities Commission, and is to be reviewed at a hearing later this year. Commission spokesman Jim Law says TransAlta's proposal is not a done deal. (If the commission approves the settlement, legislation requires that the money go to the government's general revenue fund, not to ratepayers. The commission held hearings over allegations that TransAlta manipulated the electricity market by shutting down coal-fired power plants in late 2010 and early 2011 to drive up power costs.)

Date: 2015-09-30
Placeline: EDMONTON.
Source: The Canadian Press
Length: 14 seconds

Transcript Prediction: << it is the agency's job to review the settlement as part of the penalty phase to look at the aggravating circumstances the mitigating circumstances and determine if the settlement is in fact in the public interest >>