A recent decision of the Alberta Utilities Commission and a recent policy development at FERC reinforce an important principle of public utility law – regulated companies have a responsibility and a duty to disclose all relevant information to the regulator. In June of 2022 the AUC issued a decision approving a negotiated settlement reached between enforcement staff and ATCO Electric ordering ATCO to pay an administrative penalty of $31 million as a result of breaching its duty to disclose relevant facts and other important information to the regulator. On July 28, 2022 FERC proposed a new rule that would significantly expand the existing “duty of candor” rule to apply to all FERC jurisdictional entities. The current rule was limited in its application to “sellers” of power at market based rates. The session explores the application and increasing importance of the duty to disclose and its implications for lawyer, regulators, utilities and market participants in North America.