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The province’s debacle over power purchase contracts is slowly lurching to an ignominious end.

But it’s going to be very costly for Albertans to clean up this mess.

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It also means higher electricity bills are likely coming for consumers next year.

Last week, the Alberta Balancing Pool finally gave notice it’s considering terminating three power purchase arrangements (better known as PPAs) for the Sundance A, B, and C electrical generating units west of Edmonton.

It must first consult with consumer groups and Alberta’s energy minister before giving the required six months’ notice to the facility’s owner, TransAlta Corp.

“These are the most obvious candidates for cancellation,” Balancing Pool chairman Robert Bhatia said in an interview.

The moves could save consumers about $500 million in potential losses, the agency says.

To understand how we got into this quagmire, a trip down electricity memory lane is necessary.