State & Local News
Calgary Explores Enmax Asset Sale and Water Utility Expansion
March 16, 2026
Calgary's municipal leadership, led by Mayor Jeromy Farkas, has initiated a strategic review of Enmax's asset portfolio, including a potential sale of its U.S.-based power company, Versant Power, and the possibility of expanding Enmax's role to manage the city's water utility. This proposal aims to fund critical water infrastructure repairs while maintaining municipal control over essential services. The city is considering a comprehensive valuation and governance review to determine the optimal structure for Enmax's assets amid differing views on balancing profitability and jurisdictional complexities.
- Why this matters: Municipal procurement and utility management professionals should note the potential restructuring of Enmax's assets, which could lead to new contracting opportunities related to water infrastructure and utility operations.
- The possible sale of Versant Power may impact cross-border utility service contracts and vendor relationships in Maine, requiring attention from contractors with U.S. operations.
- Expanding Enmax's mandate to include water utility management signals upcoming procurement needs for water infrastructure services, maintenance, and technology solutions.
- Stakeholders should prepare for forthcoming requests for proposals or contract modifications as the city evaluates governance and asset management options.
The regulated U.S. assets are a highly profitable portion of the utility’s holdings and we should be cautious about rushing to sell.
— Andre Chabot, Councillor, Ward 10
It’s very difficult to serve two masters when balancing different rate bases and jurisdictions.
— Jeromy Farkas, Mayor
Agencies
City of Calgary
Vendors
Enmax, Versant Power