TransAlta Corporation : Puget Sound Energy Files for Reconsideration of Certain Conditions in Approval of Proposed Agreement for Centralia Plant
January 23, 2013 at 02:54 pm
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CALGARY, ALBERTA (January X, 2013) - TransAlta Corporation (TSX: TA; NYSE: TAC) announced today that Puget Sound Energy ("PSE") has filed a petition for reconsideration of certain conditions within the decision issued by the Washington Utilities and Transportation Commission (the "WUTC") on January 9, 2013 approving the proposed long-term power purchase agreement (the "PPA") between PSE and TransAlta Centralia Generation LLC for the Centralia, Washington power plant. The proposed agreement approved by the WUTC would permit PSE to purchase an average 346 megawatts of coal transition power from TransAlta's Centralia power plant.
"PSE's decision to file for reconsideration provides PSE and the WUTC a process to resolve any concerns with the conditions adopted by the WUTC in its approval of the proposed agreement," said Dawn Farrell, President and CEO, TransAlta Corporation. "TransAlta, along with other stakeholders, is closely monitoring the progress of this agreement and cooperating as required to support implementing an acceptable solution for all parties involved."
TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta's focus is to efficiently operate geothermal, wind, hydro, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been selected by Jantzi-Sustainalytics as one of Canada's Top 50 Socially Responsible Companies since 2009 and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good. TransAlta is Canada's largest investor-owned renewable energy provider.
This news release may contain forward looking statements, including statements regarding the business and anticipated financial performance of TransAlta Corporation. These statements are based on TransAlta Corporation's belief and assumptions based on information available at the time the assumption was made. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include legislative or regulatory developments and general economic conditions in geographic areas where TransAlta Corporation operates.
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For more information:
Media inquiries:
Stacey Hatcher
Senior Corporate Relations Advisor
Toll Free Media Number: 1-855-255-9189 or Email: TA_Media_Relations@transalta.com
Investor inquiries:
Jess Nieukerk
Director, Investor Relations
Phone: (403) 267-3607 or Email: jess_nieukerk@transalta.com
TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets, utilizing a range of input resources that includes water, wind, solar, natural gas and thermal coal in Canada, the United States and Australia. The Company provides clean power for municipalities, medium and large industries, and utility customers. Its segments include Hydro, Wind & Solar, Gas, Energy Transition, Energy Marketing, and Corporate. The Company has a diversified portfolio of energy assets and its diverse fleet of hydro, wind, solar, natural gas and cogeneration generate about 6.7 gigawatts (GW) of electricity. It delivers renewable energy solutions for large scale commercial partners, including tech companies. It operates a fleet of electrical power generation assets, including Antrim Wind Project, Ardenville Wind Facility, Old Town Wind Project, Pinnacle Project, SunHills Solar Project, Cascade hydro power plant, and Fortescue River Gas Pipeline, among others.