Competition Bureau reaches agreement with TransAlta to preserve competition in wholesale electricity supply in Alberta
News release
November 14, 2024 – GATINEAU, QC – Competition Bureau
The Competition Bureau has entered into a consent agreement with TransAlta to address competition concerns with its acquisition of Heartland Generation.
A Bureau review concluded that the proposed transaction would likely result in a substantial lessening of competition in the supply of wholesale electricity in Alberta.
To resolve the Bureau’s concerns, TransAlta has agreed to sell Heartland Generation’s Poplar Hill and Rainbow Lake 4 & 5 electricity generating businesses. The sale will be made to one or more independent purchasers to be approved by the Commissioner of Competition.
The Bureau is satisfied that the sale will resolve the competition concerns arising from the proposed transaction.
The complete consent agreement is available on the website of the Competition Tribunal.
Quick facts
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On November 1, 2023, TransAlta and Heartland Generation agreed that TransAlta would acquire Heartland Generation’s entire business operations in Alberta and British Columbia.
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TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia.
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Heartland Generation is the third largest power generator in Alberta, supplying power to industrial, commercial and residential consumers.
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A consent agreement contains remedial measures meant to address the likely anti-competitive effects of a merger. It has the force and effect of a court order once it is registered with the Competition Tribunal.
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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
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