The City of Prince Albert receives first deposit from Husky Energy

Press Release

August 15, 2016

Prince Albert, Sk. – The City of Prince Albert has received a $5 million payment installation payment from Husky Energy to pay the direct costs and indirect losses the City has incurred from the Husky Energy oil pipeline spill.

“This is a payment of good faith,” said City of Prince Albert Mayor Greg Dionne. “Husky Energy had promised from the onset that they would take full responsibility for the oil spill and pay all associated costs, and this payment is a good indicator that they are delivering on that promise,” said Dionne.

This is its first payment installation the City has received from Husky Energy since the oil pipeline leak into the North Saskatchewan River four weeks ago resulted in the City scrambling to find alternative water sources and footing the bill for two temporary water pipelines to continue to provide water to the residents of the city.

There City has also received losses in revenue due to the oil spill such as a loss in water revenue, the temporary closing of many city facilities and paying additional staffing costs during the crisis

The money has been deposited into a dedicated bank account the City has opened for receiving and paying out bills directly related to the oil spill. The City has invoiced around $2.5 million to Husky Energy to date and is expecting over $2 million per month in costs to maintain the operation of its two temporary water pipelines until the North Saskatchewan River is cleared by water authorities for potable water consumption.

-30-

For media inquiries please contact:

Director of Financial Services
Steve Brown
Phone: (306) 953-4312

IBF4