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Arbitration Concludes Favourably For TransAlta Regarding the Sundance B and C Power Purchase Arrangements Termination Payment
Arbitration Concludes Favourably For TransAlta Regarding the Sundance B and C Power Purcha...
About this update from Transalta Corporation
[{"type":"text","content":"\n\n\n\nArbitration Concludes Favourably For TransAlta Regarding the Sundance B and C Power Purchase Arrangements Termination Payment\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Aug. 26, 2019\n\n\n\nCALGARY, Aug. 26, 2019 /CNW/ - TransAlta Corporation (\"TransAlta\" or the \"Company\") (TSX: TA; NYSE: TAC) announced today that it was successful in its arbitration with the Balancing Pool for the remaining payment related to the termination of the Sundance B and C Power Purchase Arrangements (\"PPA\").  As a result of the arbitration decision, the Company will receive the full amount it had been seeking to recover, being equal to $58.8 million (including GST payable) from the Balancing Pool, plus interest.  This payment relates to TransAlta's historical investments in certain mining and corporate assets that the Company believed should have been included in the net book value calculation of the PPA's that had been disputed by the Balancing Pool. \nAbout TransAlta Corporation: \nTransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. We provide municipalities, medium and large industries, businesses and utility customers clean, affordable, energy efficient, and reliable power. Today, we are one of Canada's largest producers of wind power and Alberta's largest producer of hydro-electric power. For over 100 years, TransAlta has been a responsible operator and a proud community-member where its employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and we have been recognized by CDP (formerly Climate Disclosure Project) as an industry leader on Climate Change Management. We are also proud to have achieved the Silver level PAR (Progressive Aboriginal Relations) designation by the Canadian Council for Aboriginal Business. \nFor more information about TransAlta, visit our web site at transalta.com\nForward Looking Information\nThis news release cont...