July 2, 2003

Board Appointment

Mr. Tom Cumming, Chairman of the Balancing Pool Board, is pleased to welcome Mr. Gord Ulrich, Mr. Peter Flynn, Mr. Harry Hobbs and Ms. Stella Thompson as the new Balancing Pool Board.

Balancing Pool Board members are independent of market participants and have accomplished backgrounds in finance, business, and the energy and electric industries.

The Balancing Pool plays an important role in Alberta's transition to a competitive electrical industry.

The Balancing Pool has two primary roles:

to manage the financial accounts arising from the transition to a competitive generation market on behalf of electricity consumers, and to meet any obligations and responsibilities associated with both sold and unsold Power Purchase Arrangements (PPAs) In 2002, the Balancing Pool had revenues of some $800 million and assets exceeding $2 billion.