Alberta Reaches Settlement with Two Coal Companies Suing over Policy Flip-Flop
- On July 3, Alberta settled with Evolve Power Ltd. and Atrum Coal Ltd. in the $16 billion coal lawsuit, resolving part of the legal dispute amid ongoing negotiations.
- Following policy reversals in 2020, 2022, and January 2025, companies claim Alberta's coal policy shifts effectively expropriated their assets, leading to lawsuits.
- Alberta’s year-end financial report shows a $356 million expense overrun mainly due to settlement of litigation claims and oil sales costs, with deal details kept confidential.
- Policy reversals have decimated investor confidence, with the largest Australian long/short fund refusing further investment in Alberta, as Evolve's CEO declined to comment.
- Following recent settlements, Northback filed a separate claim in June 2024, while Cabin Ridge and Black Eagle have not disclosed any settlement decisions.
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Alberta reaches settlement with two coal companies suing over policy flip-flop
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