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Alberta’s electricity market watchdog is investigating a provincial agency for its handling of controversial power contracts that are losing billions of dollars.

The Market Surveillance Administrator (MSA) says it’s investigating complaints lodged against Alberta’s Balancing Pool, the arm’s length agency that has been dealing with money-losing power purchase arrangements after they were dropped by industry.

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The head of the group conducting the investigation would not comment on the details of the probe or disclose who made the complaints.

The administrator said the complaints refer to potential breaches of the Electric Utilities Act, including a provision that demands the Balancing Pool “carry out its duties in a manner that is responsible and efficient.”

The Balancing Pool said it has done nothing wrong.

“We have nothing to hide and we are fully co-operating with the MSA’s investigation,” said Bruce Roberts, CEO of the Balancing Pool.