The Balancing Pool’s legislated duties include the following:
- Act as a buyer for the PPAs that were not sold in public auction or that were subsequently terminated by third party buyers and manage those assets in a commercial manner;
- Sell the energy and capacity associated with the PPAs into Alberta’s wholesale electricity market;
- Act as a risk backstop in relation to extraordinary events, such as force majeure, affecting the PPAs;
- Allocate (or collect) any forecasted cash surplus (or deficit) to (from) electricity consumers in Alberta in annual amounts over the life of the Balancing Pool;
- Hold the Hydro Power Purchase Arrangement (“Hydro PPA”) and manage the associated stream of receipts or payments;
- Participate in regulatory and dispute resolution processes.