[4] Wabamun was reputedly the best whitefish lake in the Edmonton area and is well known for its large northern pike, both of which were fished commercially during the early 20th century.

133A Indian reserve, home of the Paul First Nation, and the Summer Village of Kapasiwin are on the eastern shore of Wabamun Lake.

Seba Beach, a community at the lake's western edge, had a whitefish cannery, but this eventually shut down; the vacant building remains in the village.

TransAlta responded with measures to reduce metal and thermal pollution, and the Wabamun power plant was decommissioned and demolished.

After closure of the Wabamun power plant in 2010, Alberta Fish and Wildlife attempted another stocking of walleye, which has proven to be successful.

Change in temperature from the power plants on the lake increased dissolved oxygen, lowering the water quality and causing algae blooms to become a common occurrence.

The recent introduction of walleye has seen a decrease in the population of pike, as well as in other native fish such as spottail shiner and yellow perch.

Volunteers soon began placing booms and absorbent material to protect the shoreline, and brought 230 oil-slicked birds and other wildlife to the Wabamun area for rescue.

One hundred Wabamun Lake residents took part in a five-hour blockade of the CN tracks in protest against what they felt was insufficient action by the railway in cleaning up the spill.

However, Alberta Environment and Parks still maintains a zero-catch limit on all species of fish, presumably to protect the growing walleye population and the recovering lake whitefish stocks.

[10] Uncontrolled erosion can increase the risk of eutrophication in lakes, which in turn can result in the formation of blue-green algae blooms.

[11] Samco Developments was issued an order by the Government of Alberta in October 2012 pursuant to the Water Act to cease its unauthorized activities.

[12] The government also ordered Samco Developments and its directors to re-contour the land and replant vegetation to minimize sediment entering the lake.