Energy Resources Conservation Board - ERCB

DEFINITION of 'Energy Resources Conservation Board - ERCB'

An agency of the government of Alberta responsible for the regulation and development of the province's natural resources. The Energy Resources Conservation Board is comprised of engineers, geologists and other technical personnel from across the province, and is directed by an eight-member board. The focus of the agency is to ensure that resources are developed in the public interest.

BREAKING DOWN 'Energy Resources Conservation Board - ERCB'

The Energy Resources Conservation Board was created in 2008, though natural resource development in Alberta had been regulated by government agencies since the 1930s. It is a quasi-independent organization that reports to the province's Ministry of Energy, and is tasked with reviewing applications for resource development, examining the effect of resource exploitation and managing fees charged to energy companies.