Alberta Index - ENERGY: Alberta to improve royalty system evaluation and public reporting

ENERGY: Alberta to improve royalty system evaluation and public reporting

(AlbertaIndex, April 9, Wednesday) --- The government of Alberta has announced that it will implement 13 recommendations to enhance how the performance of the royalty regime is measured and how that performance is reported to the public.

The move is aimed at clearing up any misunderstanding or perception that it has failed to collect the province’s dues from the oil and gas industry, a charge made last year that became a political issue.

The recommendations were included by former provincial Auditor General Peter Valentine in his report Building Confidence: Improving Accountability and Transparency in Alberta’s Royalty System.

The report was announced last October as part of the New Royalty Framework. The scope of Valentine’s review included an analysis of the systems in place to ensure accountability in royalty revenue collection, providing clarity on the goals of the royalty regime, ensuring the government has the systems in place to assess the performance of the regime, and ensuring complete and timely reporting to Albertans.

“I appreciate the thoughtful analysis and the very specific recommendations that Mr Valentine has included in his report,” said Energy Minister Mel Knight. “As Alberta shifts to the New Royalty Framework, this is an ideal time to implement these recommendations and enhance the way we monitor the ongoing performance of the system and report that information to Albertans.”

“I’m pleased Mr Valentine has recognized the quality of the work done by Alberta Energy’s staff and their efforts to administer the province’s royalty regime on behalf of all Albertans. Those staff and I are eager to move forward with his recommendations related to processes, organization, and providing clear and easy to understand information to Albertans.”

In accepting the report, the government has also committed to the 30-, 60- and 90-day time frames identified by Valentine to begin work and establish plans for the implementation of the recommendations related to oversight, business processes and controls, and reporting.

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