Business
Capital Power reports fourth quarter and year-end 2010 results
Mar. 8, 2011 (Canada NewsWire Group) -- EDMONTON, March 8 /CNW/ - Capital Power Corporation (...
About this update from Capital Power Corporation
[{"type":"text","content":"\n\n\n Mar. 8, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nEDMONTON, March 8 /CNW/ - Capital Power Corporation ("Capital Power", or\n the "Company") (TSX: CPX) today released its results for the quarter\n and year ended December 31, 2010.  Normalized net income attributable\n to common shareholders, after adjusting for one-time items and fair\n value adjustments, was $6 million, or $0.26 per share, in the fourth\n quarter of 2010, compared with $4 million, or $0.18 per share, in the\n comparable 2009 period. Funds from operations, excluding\n non-controlling interests in CPILP, totaled $62 million in the 2010\n period, up 19% from $52 million in 2009.\n\n\nFor the full year ended December 31, 2010, normalized net income\n attributable to common shareholders was $31 million or $1.40 per share,\n with funds from operations excluding non-controlling interests in\n CPILP, of $263 million.\n\n\n"We're pleased with our results in the fourth quarter of 2010, which\n slightly exceeded management's expectations," said Brian Vaasjo,\n President and CEO of Capital Power. "For the year as a whole, our\n results were solid, representing a good performance in a difficult\n pricing environment. Generation volume in our facilities excluding\n CPILP plants increased 3.5%, with average availability at 90%, despite\n the six-month shut down at Clover Bar Energy Centre's Unit 2."\n\n\n"In line with our stated objective of reaching 10,000 megawa...