Alberta Energy Regulator to Ensure Efficient, Comprehensive Energy Regulation

CALGARY, ALBERTA--(Marketwired - June 17, 2013) - The Alberta Energy Regulator (AER) officially launched today after the Government of Alberta proclaimed the Responsible Energy Development Act, ushering in a new era in energy regulation.

The AER brings a new governance structure that will achieve the benefits of strong corporate oversight and independent adjudication of energy applications throughout the hearing process.

"This new structure will allow the regulator's Board of Directors to set the direction for the organization's business, approve regulatory change, and set performance expectations for the regulator," said Chair Gerry Protti. "The Alberta Energy Regulator board will operate as a corporate-style board."

Today's announcement is the first step in a phased approach towards full implementation of the AER with additional regulatory functions to be added over the coming months.

"We look forward to working with the Government of Alberta to ensure we manage the transition to a new regulator in a manner that is strategic and practical, balancing the need for consistency and regulatory certainty while bringing new environmental regulatory responsibilities into the AER," said Chief Executive Officer Jim Ellis. "This is an exciting time for energy development in Alberta, and we believe that the Alberta Energy Regulator marks an exciting change that will make a difference in the way we conduct our business and deliver results for Albertans."

The AER immediately takes on all regulatory functions previously carried out by the Energy Resources Conservation Board and will assume additional responsibilities in the areas of public lands, water, and the environment over the next 12 months.

"Albertans can be assured that the regulator's highly trained technical staff remain dedicated to public safety, environmental protection, and conservation of our hydrocarbon resources throughout the transition," Ellis added.

The Alberta Energy Regulator ensures the safe, efficient, orderly, and environmentally responsible development of hydrocarbon resources over their entire life cycle. This includes allocating and conserving water resources, managing public lands, and protecting the environment while providing economic benefits for all Albertans.

FOR BROADCAST USE:

The Alberta Energy Regulator launched today as the first step in a three-phase approach to ensuring strong energy regulations in Alberta. The AER immediately takes on all regulatory functions previously carried out by the Energy Resources Conservation Board and will assume additional responsibilities in the areas of public lands, water, and the environment. These additional functions will be transferred to the AER in the coming year.