By: Drew Yewchuk and Shaun Fluker
Matter Commented On: Bulletin 2024-25, Invitation for Feedback on Revised Liability Directives
PDF Version: The AER’s Proposed Amendments to Closure Liability Management Directives: Much Ado about Not Much
On 8 October 2024, the AER issued Bulletin 2024-25, Invitation for Feedback on Revised Liability Directives, announcing the AER is taking public comments on a proposal to restructure AER directives relating to the closure liability management framework. The AER’s description of the changes, and a video presentation describing the changes, are here. At a high level:
- Four directives are being amended: Directive 001: Requirements for Site-Specific Liability Assessments; Directive 011: Estimated Liability (previously Licensee Liability Rating (LLR) Program: Updated Industry Parameters and Liability Costs); Directive 068: Security Deposits; Directive 088: Licensee Life-Cycle Management.
- Three directives are being rescinded as their contents are either being reorganized into the four amended directives or are no longer necessary: Directive 006: Licensee Liability Rating (LLR) Program; Directive 024: Large Facility Liability Management Program; Directive 075: Oilfield Waste Liability (OWL) Program.