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Published in Business and Finance on Wednesday, January 23rd 2013 at 5:00 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
January 23, 2013 07:45 ET
Puget Sound Energy Files for Reconsideration of Certain Conditions in Approval of Proposed Agreement for Centralia Plant
CALGARY, ALBERTA--(Marketwire - Jan. 23, 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.