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    AER Saved Industry Hundreds of Millions in Recent Years

    Over the past several years, the Alberta Energy Regulator (AER) has saved hundreds of millions of industry dollars through a variety of measures aimed at reducing cost and increasing efficiency, reports The Globe and Mail.

    AER’s savings target for its 2015-2016 fiscal year was set at $400 million but the Alberta regulator sees savings coming in between $411 and $448 million, said AER spokesperson Carrie Rosa. “Our focus isn’t just about saving money,” she continued, “it’s also about reducing duplicative processes and finding new approaches to regulatory oversight.”

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    The AER’s “near-term action program”, launched in 2014, has been attributed to achieving many of the cost savings. According to the AER’s annual report, the program is designed to “prioritiz[e] regulatory activities so that the most significant risks receive the greatest attention.”

    As stated in a briefing note prepared by the AER, the near-term action program was expected to have achieved savings of $356-$379 million by March 31 of this year.

    Other cost-reducing measures taken by the AER include keeping its overall head count at 1,200, and freezing staff salaries, a move that is saving a minimum of $23.4 million.

    To read the full article in The Globe and Mail, click here.

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