CITY OF MEDICINE HAT PAYMENT IN LIEU OF TAX AMENDMENT REGULATION
For information only: Made by the Lieutenant Governor in Council (O.C. 171/2021)
on June 9, 2021 pursuant to section 147 of the Electric Utilities Act.
1 The City of Medicine Hat Payment in Lieu of Tax
Regulation (AR 235/2003) is amended by this Regulation.
2 Section 1(1) is amended
(a) by adding the following after clause (e):
(e.1) "emissions cost" means the amount that the City of
Medicine Hat, when computing income under the
Income Tax Act (Canada) for a year, would be entitled
to deduct in respect of
(i) the costs of complying with section 12(3) of the
Technology Innovation and Emissions Reduction
Regulation (AR 133/2019), and
(ii) the costs of complying with any similar obligation
under an enactment of Alberta or Canada
governing greenhouse gas emissions,
if the City of Medicine Hat were not exempt from
taxation under section 149 of the Income Tax Act
(Canada);
(b) by adding the following after clause (f):
(f.1) "export emissions cost" means the amount calculated
for a year in accordance with the following formula:
A x EC
B
where
"A" is the number of megawatt hours of electric energy
provided to the interconnected electric system by
the available units in the year;
"B" is the number of megawatt hours of electric energy
generated by the available units in the year;
"EC" is the emissions cost for the year;
3 Section 3(1)(a) is repealed and the following is
substituted:
(a) the taxable amount related to exports for the year, calculated
by subtracting the export emissions cost for the year from the
sum of the amounts calculated as follows for each settlement
interval in the year in which an export occurs:
export revenue - (export cost + export transmission
cost + transmission cost associated with exports);
4 Section 11 is amended by striking out "June 30, 2021" and
substituting "June 30, 2026".