04/26/2024
Good morning Synergy members and friends! Please see the following information on the upcoming AER Liability Management Framework info sessions:
The Alberta Energy Regulator (AER) is continuing to implement the Government of Alberta’s Liability Management Framework (LMF - https://www.alberta.ca/system/files/custom_downloaded_images/energy-liability-management-framework.pdf) As mentioned in Bulletin 2023-41, our next phase includes replacing the Licensee Liability Rating (LLR) Program and the Liability Management Rating (LMR) and establishing a new security framework.
We are holding three virtual information sessions in late May and June where the AER will provide a presentation to share more details on this next phase of implementation. These sessions are open to all Indigenous communities, the public, and industry. Information on the sessions is provided below along with the registration links. Due to the amount of information that will be shared and the number of expected registrants, we are unable to accommodate Q&As during these sessions. To collect participant feedback there will be a live poll during the session. In addition, the AER will send a survey to all registrants after each session to collect feedback.
Given the complexity and breadth of topics covered at these sessions, an information package including pre-read materials or links to existing website content will be shared with registrants before each session. These information sessions will be recorded and made available for those unable to attend and as an information resource. The surveys will also be available online. By registering, you permit the AER to use the recording.
Please use the links to register:
Session 1: Liability and Security Overview
Explains the changes outlined in Bulletin 2023-41. We will provide an overview of the background and context of the existing LMR, LLR program, liability, and security approaches including information on the new liability management framework.
If you are not familiar with the new LMF and why these changes are needed, this session is for you. If you are familiar with the LMF, you may want to register for sessions 2 and 3 only.
9:00 a.m. – 10:30 a.m. MST, May 30, 2024, Registration Link - bb3a5eb9-6195-49b7-a66f-6b467e0eb20d@5a661919-a609-4857-a7a7-eea01d3ecdfa" rel="ugc" target="_blank">https://events.teams.microsoft.com/event/bb3a5eb9-6195-49b7-a66f-6b467e0eb20d@5a661919-a609-4857-a7a7-eea01d3ecdfa
Session 2: Estimated Liabilities
Describes the high-level proposed changes to our Liability Management Programs (https://www.aer.ca/providing-information/by-topic/liability-management) and regulatory instruments to replace the Licensee Liability Rating (LLR) Program and the Liability Management Rating (LMR). The session will also outline the AER’s approach to updating estimated liabilities, what is considered for Regional Liability and Site-Specific Liability Assessments, and how liabilities are used to make decisions.
9:00 a.m. – 10:30 a.m. MST, June 13, 2024, Registration Link - 15bf6ce3-c5d6-4ee7-8457-39c7e6a0c034@5a661919-a609-4857-a7a7-eea01d3ecdfa" rel="ugc" target="_blank">https://events.teams.microsoft.com/event/15bf6ce3-c5d6-4ee7-8457-39c7e6a0c034@5a661919-a609-4857-a7a7-eea01d3ecdfa
Session 3: Security Framework
This will be a high-level presentation that will explain why a new security framework is needed and the risks we will address across the energy development lifecycle. We will describe our design principles and factors that could be used to determine the timing of security to address specific risks.
9:00 a.m. – 10:30 a.m. MST, June 20, 2024, Registration Link - 0becc355-d95c-474a-93e1-28e89192062b@5a661919-a609-4857-a7a7-eea01d3ecdfa" rel="ugc" target="_blank">https://events.teams.microsoft.com/event/0becc355-d95c-474a-93e1-28e89192062b@5a661919-a609-4857-a7a7-eea01d3ecdfa
Thank you,
Liability Management Framework Team
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