The Balancing Pool’s legislated duties include the following:
- Act as a buyer for the PPAs that were not sold in the public auction held by the Government of Alberta in 2000 or that have subsequently been terminated by third party buyers and manage the resulting electricity portfolio and/or where feasible terminate the PPAs with the Owners;
- To manage generation assets in a commercial manner, specifically any Power Purchase Arrangements (PPAs) held by the Balancing Pool that include the right to exchange electric energy and ancillary services, and any arrangements or agreements derived from these assets;
- Act as a risk backstop in relation to extraordinary events such as force majeure in relation to 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.