Canada and U.S. Sign Energy Agreement
Canada's National Energy Board and the U.S. Federal Energy Regulatory Commission signed a memorandum of understanding today, May 10, to enhance interagency co-ordination.
Ken Vollman, chair of the energy board, and Pat Wood III, chair of the regulatory commission, signed the memorandum while in Halifax for the annual conference of the Canadian Association of Members of Public Utility Tribunals (CAMPUT).
"This agreement reinforces our existing co-operative relationship and furthers the work of both agencies," said Mr. Vollman. "The interests of regulated companies and the public will be better met through enhanced co-ordination of our agencies' regulatory responsibilities."
"The United States and Canada have a long history of co-operation and trade in energy. This memorandum of understanding will serve us well as our two countries become ever more interdependent in cross-border energy issues," said Mr. Wood.
Recognizing that the two agencies oversee interconnecting facilities or activities, the memorandum will assist both parties to co-ordinate their responsibilities. It is another step in Canada's commitment to smart regulation and the development of regulatory strategies that protect the health and safety of Canadians and the environment, while contributing to economic efficiency.
The Federal Energy Regulatory Commission is an independent agency that regulates the interstate transmission of natural gas, oil and electricity. It also regulates natural gas and hydropower projects.
The National Energy Board is an independent federal agency that regulates several aspects of Canada's energy industry. Its purpose is to promote safety, environmental protection and economic efficiency within the mandate set by Parliament in the regulation of pipelines, energy development and trade.
For a copy of the memorandum of understanding e-mail the National Energy Board at [email protected], call 403-299-3562, or write to the National Energy Board, Ground Floor, 444 Seventh Ave. SW, Calgary, Alta., T2P 0X8.