TransAlta Power, L.P.

TransAlta Power, L.P.

February 02, 2006 16:11 ET

TransAlta Power, L.P. declares cash distributions at continuing levels

CALGARY, ALBERTA--(CCNMatthews - Feb. 2, 2006) - TransAlta Power, L.P. (TSX:TPW.UN) today declared cash distributions at the continuing level of $0.06625 per unit for payment on each of March 31, 2006, April 30, 2006, and May 31, 2006 to unitholders of record at the close of business March 10, 2006, April 10, 2006 and May 10, 2006 respectively. Based on TransAlta Power, L.P.'s current operations, it is estimated approximately 35 per cent of the 2006 cash distributions will be tax deferred.

In addition, TransAlta Power, L.P. is suspending the Premium component of the Distribution Reinvestment Plan (DRIP) effective April 1, 2006 as sufficient units have been issued to fund the purchase of the Meridian plant, which was acquired in December 2004.

The Regular component of the DRIP is not affected.

TransAlta Power, L.P. owns a 49.99 per cent interest in TransAlta Cogeneration, L.P., which owns interests in five gas-fired cogeneration facilities in Ontario, Alberta and Saskatchewan and in a coal-fired, mine-mouth facility in Alberta. These facilities have a total generating capacity of 1,338 megawatts of electric power, all of which is sold under long-term contracts to high-quality counterparties.

This news release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of TransAlta Power, L.P. and TransAlta Cogeneration, L.P. 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, competition, global capital markets activity, changes in prevailing interest rates, currency exchange rates, inflation levels and general economic conditions in geographic areas where TransAlta Cogeneration, L.P. operates.

Contact Information

  • TransAlta Corporation - Media inquiries
    Sneh Seetal
    Senior Media Relations Advisor
    Phone: (403) 267-7330
    Pager: (403) 213-7041
    TransAlta Corporation - Investor inquiries
    Mardell Van Nieuvenhuyse
    Senior Analyst, Investor Relations
    Phone: (403) 267-2520 or 1-800-387-3598 in Canada and U.S.
    (403) 267-2590 (FAX)