TransAlta's statement on the appointment of Terry Boston: important step forward on removing uncertainty

CALGARY, ALBERTA--(Marketwired - March 16, 2016) - The appointment of Terry Boston, a credible and collaborative industry leader, is a major step forward in the renewables transition and will help to remove uncertainty in both the electricity sector and Alberta's broader economy.

"We now have the traction to start to remove that uncertainty," said TransAlta President and CEO Dawn Farrell. "TransAlta is ready to provide a range of options for the best use of Alberta's existing assets and capital investments to backstop the renewables transition and protect consumers."

The government has reinforced the importance of the transition beyond 2030, while confirming that there will be discussions on the renewables transition between now and then, a critical time for Alberta's economic recovery and future growth.

When the Climate Leadership Plan was announced in November, the province's commitment not to strand capital and protect consumers was an essential starting point, establishing a positive, forward-looking basis for transition negotiations.

"With the appointment of Mr. Boston the province has made good on its commitment," she said.

"It will be important to include the interests of our customers, shareholders, businesses, communities and homeowners, who are all directly affected by the outcome of these negotiations," Farrell added. "Fair and reasonable prices are the cornerstone of a successful agreement. And the ability to use existing infrastructure during the transition will provide the necessary capacity to prevent electricity prices from spiking while mapping out an orderly transition."

A successful outcome will ensure that reliable, affordable power is there when Albertans need it, while recognizing that fairness for workers, communities and companies is paramount.

TransAlta looks forward to getting started as quickly as possible.

About TransAlta:

TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta's focus is to efficiently operate wind, hydro, solar, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been recognized on CDP's Canadian Climate Disclosure Leadership Index (CDLI), which includes Canada's top 20 leading companies reporting on climate change, has been selected by Corporate Knights as one of Canada's 50 Best Corporate Citizens and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good.

For more information about TransAlta, visit our web site at transalta.com, or follow us on Twitter @TransAlta.