Maxim Power Corp.
TSX : MXG

Maxim Power Corp.

January 20, 2015 23:07 ET

Maxim Power Corp. Receives Alberta Utilities Commission's Loss Factor Decision

CALGARY, ALBERTA--(Marketwired - Jan. 20, 2015) - Maxim Power Corp. (TSX:MXG) ("MAXIM" or the "Corporation") announced today that the Alberta Utilities Commission ("AUC") has rendered its decision on Module A of Phase 2 of Milner Power Inc.'s ("Milner") complaint against the Alberta Electric System Operator's ("AESO") Line Loss Rule. The AUC confirmed that "monetary relief is both necessary and just" and that it possesses the "requisite authority to grant such relief". The decision further states that such relief will be granted for the period January 1, 2006 to the date a new rule takes effect.

As previously reported on April 16, 2014, the AUC had upheld the complaint made by Milner in 2005 that the current AESO Line Loss Rule contravenes the Transmission Regulation and is unjust, unreasonable, unduly preferential, arbitrarily or unjustly discriminatory and inconsistent with or in contravention of the 2003 Electric Utilities Act (AUC Decision 2014-110). Having now rendered its decision on its jurisdiction to grant monetary relief, the AUC will proceed to address the development of a new line loss rule that meets the legislative requirements and ultimately determine the relief and remedies to be granted to Milner.

MAXIM anticipates that these proceedings will establish compensation to MAXIM as early as the fourth quarter of 2015. As at the date of this Press Release, a reliable estimate of the amount cannot be made.

About MAXIM

Based in Calgary, Alberta, MAXIM is an independent power producer which acquires or develops, owns and operates innovative and environmentally responsible power and power related projects. MAXIM currently owns and operates 39 power plants in Alberta, the United States and France, having 775 MW of electric generating capacity. MAXIM trades on the TSX under the symbol "MXG". For more information about MAXIM, visit our website at www.maximpowercorp.com.

Statements in this release which describe MAXIM's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of MAXIM to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. MAXIM may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions and will update such forward-looking statements as required pursuant to applicable securities laws.

Contact Information

  • Maxim Power Corp.
    John R. Bobenic
    President and CEO
    (403) 750-9300

    Maxim Power Corp.
    Michael R. Mayder
    Vice President, Finance and CFO
    (403) 750-9311
    www.maximpowercorp.com