The Peace River begins in the mountains of British Columbia and flows northeast across Alberta through the town of Peace River and empties into the Slave River. The basin is part of the Mackenzie River system, which drains eventually into the Arctic Ocean.
- The Peace/Slave is the largest river basin in Alberta, occupying approximately 30 percent of the province.
- Flows to Alberta are influenced by the W.A.C. Bennett Dam located on the Peace River in British Columbia.
- A new 100 megawatt hydroelectric project has been approved for the Peace River 20 km south of Fairview.
- Bruce Power is proposing a nuclear power plant near the town of Peace River.
- Almost 75 percent of the allocations for the "other" sector (38% of allocations) are for fish, wildlife and habitat enhancement (68,800 dam3). Based on 2005 data, 37% of allocations in the Peace are for industrial uses, 11% for muicipal uses, 8% petroleum uses, 2% agriculture, and 1% commercial.
- The basin is predominantly covered by native boreal forest.