Earlier this week, TransAlta — the massive, publicly traded electricity generation company based in Calgary — was found culpable by the Alberta Utilities Commission (AUC) of repeatedly manipulating prices in 2010 and 2011 by intentionally shutting down power plants during peak demand to boost costs for consumers.
The Market Surveillance Administrator estimates the actions — which boosted costs by between 10 and 60 per cent depending on occurrence — made the company $16 million.
TransAlta has denied all claims and floated the idea of taking the case to the Alberta Court of Appeals.
Such a situation once again raises questions about (Read more…)