Energy Regulation and the Role of the Market
AbstractThis article focuses on the changes and effects of tribunal policies and decisions on industry players since the deregulation of the oil and gas industry. Specifically, it addresses the manner in which the National Energy Board and the Alberta Energy ("NEB") and Utilities Board ("EUB") (formerly the Energy Resources Conservation Board) have cultivated a forum that fosters free market competition. In particular, the Boards articulate position of minimal interference in commercial decisions unless public interest or environmental well-being are placed at risk. Specific examples of applications for the construction of new pipelines and resulting NEB decisions and reasons are further highlighted in this article. In addition, the article looks at similar EUB positions regarding pipeline proliferation projects. Overall, the article juxtaposes the need to facilitate energy customers, distributors and producers in achieving fair market prices with the need for tribunal intervention in balancing such transactions with public interest concerns.
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