Balancing Pool of Alberta completed, on March 1, 2003, the sale of approximately 2000 megawatts of electric energy, under unique derivative strip contracts, to El Paso Merchant Energy, LP, AltaGas Services Inc., BP Canada, Candela Energy Services, Ltd., Direct Energy Marketing Ltd., Constellation Power, Duke Energy Marketing, L.P., ENMAX Energy, Seegen Alberta, TransCanada Energy Ltd. and UBS Warburg. The value of the deal is undisclosed. The strip contracts were derived from Balancing Pool’s capacity under its power purchase arrangements. A substantial portion of the strip contract capacity is offered into the market by Balancing Pool through an aggregator structure.
Seegen Alberta and Duke Energy Marketing were represented by Dan MacDiarmid of Bennett Jones LLP. AltaGas was represented by in-house counsel Michael Halpen, and assisted by Frederick Erickson and Brad Grant of Stikeman Elliott LLP. Macleod Dixon LLP acted for Balancing Pool in the design and auction of the strip contracts, with a team led by John Carleton (electricity, corporate), and included Alan Harvie (corporate, environment), KayLynn Litton (corporate), Andy Love (securities) and Craig Maurice (tax).
Seegen Alberta and Duke Energy Marketing were represented by Dan MacDiarmid of Bennett Jones LLP. AltaGas was represented by in-house counsel Michael Halpen, and assisted by Frederick Erickson and Brad Grant of Stikeman Elliott LLP. Macleod Dixon LLP acted for Balancing Pool in the design and auction of the strip contracts, with a team led by John Carleton (electricity, corporate), and included Alan Harvie (corporate, environment), KayLynn Litton (corporate), Andy Love (securities) and Craig Maurice (tax).
