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37 Alta. L. Rev. 419 (1999)
Energy Regulation and the Role of the Market

handle is hein.journals/alblr37 and id is 435 raw text is: ENERGY REGULATION AND THE ROLE OF THE MARKET ENERGY REGULATION AND THE ROLE OF THE MARKET KEITH F. MILLER* This article focuses on the changes and effects of tribunal policies and decisions on industry players since the deregulation of the oil and gas industry. Specifically, it addresses the manner in which the National Energy Board and the Alberta Energy (NEB') and Utilities Board (EUB) (formerly the Energy Resources Conservation Board) have cultivated a forum that fosters free market competition. In particular, the Boards articulate a position of minimal interference in commercial decisions unless public interest or environmental well-being are placed at risk. Specific examples of applications for the construction of new pipelines and resulting NEB decisions and reasons are further highlighted in this article. In addition, the article looks at similar EUB positions regarding pipeline proliferation projects. Overall, the article juxtaposes the need to facilitate energy customers, distributors and producers in achieving fair market prices with the need for tribunal intervention in balancing such transactions with public interest concerns. Le prsent article porte sur les changements et les effets des politiques et des ddcisions de justice sur les acteurs de i'industrie depuis la diriglementation de I'industrie du p~trole et du gaz. 11 traite plus particulilrement de la fagon dont I'Office national de Vinergie (ONE) et I'Alberta Energy and Utilities Board (anciennement I'Energy Resources Conservation Board) cultivent un forum propice 6 la concurrence du marchi libre. A moins que I'ingirdt public ou 1'environnement ne soit menaci, les offices optent pour une ingdrence minimale dans les ddcisions commerciales. Des exemples prdcis de demande de construction de pipelines et les dicisions et motifs de I'ONE sont examinds plus avant. De plus, Iarticle se penche sur les prises de position de I'EUB envers les projets de prolifiration de pipelines. En bref 1'article examine d'une part la ndcessitd de permettre aux consommateurs, aux distributeurs et aux producteurs d 'bergie de parvenir h des prix de marchd dquitables et d'autre part la n&essitd que les tribunaux interviennent pour prendre en compte I'inierdt public. TABLE OF CONTENTS I. INTRODUCTION ..................................... 420 II. THE EMERGENCE OF MARKET-BASED REGULATION ............ 421 I1. THE NEB EXPERIENCE - MARKET-BASED JUSTIFICATION OF FACILITIES AND TOLLS ............................. 424 A. CONTRACTUAL JUSTIFICATION FOR FACILITIES AND TOLLS ........................ 424 B. NEGOTIATED SETTLEMENTS ........................ 430 C. CONTROL OF LIQUIDS EXTRACTION RIGHTS .............. 430 D. OTHER PUBLIC INTEREST MATIERS MUST BE CONSIDERED ............................ 431 IV. THE EUB EXPERIENCE - NON-INTERFERENCE IN COMPETITIVE BUSINESS DECISIONS ....................... 432 A. PROLIFERATION POLICY ........................... 432 B. COMPETITIVE PIPELINE PROJECTS .................... 435 C. DISPOSITION OF LIQUID EXTRACTION RIGHTS ............. 437 V. CONCLUSION ...................................... 438 Partner, Bumet, Duckworth & Palmer, Calgary, Alberta.

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