Lou Cusano, David Wood, Evan Dickinson and Gino Bruni Examine “Deleterious Effects” of Stores Block Decision

Calgary-based lawyers Lou Cusano, David Wood, Evan Dickinson and Gino Bruni wrote a piece for the December edition of the Alberta Law Review on Alberta Utility Regulatory Principles in the era after the 2006 Supreme Court of Canada case, Stores Block.

In their review, the group traces the decisions and their implications for property ownership principles, arguing the interpretations of Stores Block have led to “deleterious effects” for regulated utilities in Alberta. They concluded by discussing the Government’s attempts at legislative intervention. Below is an small excerpt from the piece.

Alberta utilities first welcomed the decision of the Supreme Court of Canada in Stores Block on the basis that it clarified that principles of property ownership applied to utility assets, and confirmed that utility shareholders were entitled to any gains that resulted from utility asset dispositions outside of the ordinary course of business. However, it is doubtful that anyone foresaw the tectonic shift in the Alberta utility regulatory landscape that the decision would precipitate.

You can read the full piece here.

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