Exhibit 99.4

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| |  |  |  |  |  | ------------------------------ |  | ---------------------------------- |  |  |  | 
| |  |  |  |  |  | KPMG LLP
Chartered Accountants |  | Telephone      (416) 777-8500      |  |  |  | 
| |  |  |  |  |  | Bay Adelaide Centre            |  | Fax                 (416) 777-8818 |  |  |  | 
| |  |  |  |  |  | 333 Bay Street, Suite 4600     |  | Internet           www.kpmg.ca     |  |  |  | 
| |  |  |  |  |  | Toronto, Ontario M5H 2S5       |  |                                    |  |  |  | 
| |  |  |  |  |  | Canada                         |  |                                    |  |  |  | 

REPORT OF INDEPENDENT REGISTERED PUBLIC

ACCOUNTING FIRM

To the Board of Directors of Algonquin Power & Utilities Corp.:

We have audited Algonquin Power & Utilities Corp.s internal control over financial reporting as of December 31, 2010,
based on criteria established inInternal Control  Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Algonquin Power & Utilities Corp.s management is responsible
for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Managements Report. Our responsibility is to express an
opinion on the Companys internal control over financial reporting based on our audit.

We conducted our audit in accordance with the
standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in
all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal
control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A companys internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal control over financial reporting includes those policies and procedures that
(1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors
of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of
any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.



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KPMG LLP, is a Canadian limited liability partnership and a member firm of the
KPMG

network of independent member firms affiliated with KPMG International Cooperative

(KPMG International), a Swiss entity.

KPMG Canada provides services to KPMG LLP.





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In our opinion, Algonquin Power & Utilities Corp. maintained, in all material respects, effective
internal control over financial reporting as of December 31, 2010, based on criteria established in Internal Control  Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated
balance sheets of Algonquin Power & Utilities Corp. as of December 31, 2010 and 2009, and the related consolidated statements of operations, deficit, comprehensive income (loss) and accumulated other comprehensive income (loss), and
cash flows for each of the years in the two-year period ended December 31, 2010, and our report dated March 31, 2011 expressed an unqualified opinion on those consolidated financial statements.



/s/ KPMG
LLP

Chartered Accountants, Licensed Public
Accountants

Toronto, Canada

March 31, 2011