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The Keephills 3 power plant located about 70 kilometres west of Edmonton. The Alberta government has appointed a high-profile U.S. power executive to lead talks with generators and the provincial grid operator as the province proceeds with its plans to phase out coal-fired electricity. (Transalta)
The Keephills 3 power plant located about 70 kilometres west of Edmonton. The Alberta government has appointed a high-profile U.S. power executive to lead talks with generators and the provincial grid operator as the province proceeds with its plans to phase out coal-fired electricity. (Transalta)

Alberta makes $1.36-billion deal with power producers to shutter coal units Add to ...

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Alberta is paying a hefty price to soothe investor fears as it ditches coal-fired power in a massive shakeup to its electrical grid.

The province’s NDP government late on Thursday announced a deal to pay three major power producers $1.36-billion over 14 years as compensation for shutting down coal units years ahead of schedule. Funds will be paid using the province’s levy on large carbon emitters.

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