ATCO Ltd.
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TSX : ACO.Y
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ATCO Ltd.
ATCO Power

ATCO Power

November 05, 2007 11:00 ET

ATCO Power Reports Unplanned Outage at Barking Power Station in London, England

CALGARY, ALBERTA--(Marketwire - Nov. 5, 2007) - ATCO Power reported today that the 1,000 megawatt Barking Power Station in East London, England has experienced an unplanned outage that is expected to last for at least 45 days on 60% of the plant capacity. ATCO Power owns 25.5% of the Barking Power Plant.

The outage involves a steam turbine generator and the cause of the failure will become clearer as the machine is disassembled.

The financial impact of the failure has not been fully determined, but is estimated to decrease ATCO Ltd.'s earnings for the three months ended December 31, 2007, and the 12 months ended December 31, 2007 by approximately $2.5 million to $5 million Canadian.

ATCO Power, part of the ATCO Group of Companies, is a world-class developer, construction manager, owner and operator of technologically advanced independent power generation facilities. ATCO Group is an Alberta-based worldwide organization of companies with assets of $7.8 billion and more than 7,000 employees actively engaged in Power Generation, Utilities (natural gas and electricity transmission and distribution) and Global Enterprises, with companies active in manufacturing, technology, logistics and energy services. Further information on ATCO can be found at www.atco.com.

Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes that the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

The Corporation's actual results could differ materially from those anticipated in these forward-looking statements as a result of regulatory decisions, competitive factors in the industries in which the Corporation operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Corporation.

The forward-looking statements contained in this news release represent the Corporations' expectations as of the date hereof, and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Contact Information

  • ATCO Power
    Grant Lake
    Senior Vice President
    (403) 828-3550
    Website: www.atco.com