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Geoff Burmeister, energy market expert at PA Consulting Group, offers his thoughts on the recent announcement by the government of the Canadian province of Alberta about procuring up to 400 MW of renewable energy by 2019.
Commenting on this topic, Geoff states: “Alberta has relatively favorable wind resource potential, and its initial 400 MW procurement will likely see substantial competition from wind developers. This should help contain bid prices in a competitive manner and provide some initial progress towards meeting its renewable targets.”
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Geoff concludes: “This procurement is likely a welcome sign for developers, particularly since the Alberta market has experienced relatively low power prices in recent years. Overall, Alberta’s electric system has been oversupplied in recent years due to slower load growth driven primarily by the continued low oil price environment.”