In the fourth quarter of 2013, the province of Alberta and China
entered into a non-binding cooperation agreement to increase energy
trade between the respective jurisdictions. The agreement
explicitly acknowledges Alberta's major role in global resource
development and China's growing need for a reliable,
competitive and sustainable supply of energy.
The agreement sets forth five guiding principles intended to
facilitate its successful implementation. These include:
the adoption of a comprehensive approach to energy policy
development, associated investment and trade, environmental and
regulatory policy, as well as research, technology and information
a commitment to continuous improvement in responsible energy
development, including an emphasis on environmental stewardship and
the respect for intellectual property and related international
standards and practices;
a commitment to timely information sharing;and
an acknowledgement that the industry will maintain a crucial
role in the successful implementation of the agreement.
In an effort to operationalize the agreement, the participants
have agreed to collaborate in the formalization of a framework that
ensures direct dialogue between the participants as well as
relevant stakeholders. In doing so, the participants aim to develop
policy initiatives that fulfil the objectives of the agreement by
facilitating partnership and business opportunities for public and
private entities in Alberta and China as well as develop a joint
work program in the areas of sustainable energy.
While the agreement does not impose any legally binding
obligations on the participants, it is the first of its kind
between the Chinese central government and a Canadian province. The
agreement gives Alberta direct access to decision-makers at
China's highest levels and may prove to be a critical step
towards increasing trade with the world's largest growing
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Canada is a constitutional monarchy, a parliamentary democracy and a federation comprised of ten provinces and three territories. Canada's judiciary is independent of the legislative and executive branches of Government.
The Government of Alberta recently announced a number of policy changes that will impact the Alberta Electricity Market, composed of its generators, transmitters, distributors, retailers, electricity consumers and wholesale electricity market.
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