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Pembina Books $1.6B Write-Down on Jordan Cove and CKPC Joint Venture Projects 2/26/2021

Pembina reported a fourth-quarter 2020 non-cash after-tax impairment of $1.6 billion on the Ruby, Jordan Cove, and our CKPC petrochemical investments.  In late-2021, the Canada Kuwait PDH and PP project was indefinitely suspended.  

With regards to Jordan Cove, the firm is currently evaluating the path forward amid ongoing regulatory and political uncertainty.  

ERCOT Review of Feb-21 Extreme Cold Event: No Entity Can Enforce Weatherization Standards Currently 2/24/2021

ERCOT cited in their review of the Texas February 2021 cold-weather event that "Generation owners and operators are not required to implement any minimum weatherization standard or perform an exhaustive review of cold weather vulnerability. No entity, including the PUC or ERCOT, has rules to enforce compliance with weatherization plans or enforce minimum weatherization standards."

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