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Today, the AUC has released its updated strategic plan for the next three years. It is an important framework for the AUC as we aspire to be the North American benchmark for regulatory timeliness.
The plan marks a purposeful refinement of, and a more focused approach to, the AUC’s goals, and reflects the organization’s commitment to modernization, effectiveness and efficiency. It is intended to guide a regulatory approach that is prudent, cost-effective and sensitive to the regulatory burdens that stakeholders, ratepayers and, ultimately, the Alberta economy bear.
The plan has been updated around three pillars:
Reducing regulatory burden and improving AUC effectiveness and efficiency continue to be key objectives for the AUC in the coming year. The AUC will continue to reduce regulatory burden by implementing process improvements recommended by outside experts, develop performance standards to further reduce full-cycle timelines, utilize settlements, including mediated settlements and update additional rules. These efforts will help the AUC to continue to achieve its goals of reducing red tape and improving efficiencies.
It is clear that the sector is undergoing fundamental change, driven by decarbonization, technological and market changes. The AUC will collaborate with other agencies and government to facilitate technology development and evolution in the utilities industry. The AUC will assess Alberta’s experience with performance-based regulation and how the design can be improved to ensure effective and efficient outcomes.
As we work to develop the processes and structures to meet future challenges, our plan recognizes that we must continue to develop and strengthen our team by aligning our hiring and training efforts with our objectives and an evolving regulatory environment. Since we can’t foresee all issues before they arise, the AUC must look at circumstances, identify issues and find new approaches and solutions in a rapidly changing atmosphere and will continue to modernize its workforce to ensure it has the skillsets to keep pace with requirements of an evolving utilities sector.
By continuing to work together to pursue the goals and strategies set out in the plan, the AUC will build on the tremendous progress the AUC has made so far to modernize and to become a more effective and efficient regulator. It underpins all of our efforts as we move forward to make the AUC an even better organization to be part of.