Alberta Utilities Commission approves settlement agreement
CALGARY, Alberta (July 3, 2012) – TransAlta welcomes the ruling today by the Alberta Utilities Commission (AUC) to accept the settlement agreement related to our scheduling practices in November of 2010. Active and ongoing oversight is an important aspect of the electricity market in Alberta, and this decision shows that the regulatory and oversight framework in Alberta is performing as it should.
We have taken a number of measures to adapt and strengthen compliance in our trading operation and to ensure that we have rigorous monitoring and checks in place at all times.
This decision and payment of the penalty concludes this matter and we remain focused on providing sustainable and reliable power to our customers.
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 our, wind, hydro, geothermal, natural gas and coal facilities in order to provide our customers with a reliable, low-cost source of power. For 100 years, TransAlta has been a responsible operator and a proud contributor to the communities where we work and live. TransAlta is recognized for its leadership on sustainability by the Dow Jones Sustainability North America Index, the FTSE4Good Index and the Jantzi Social Index. TransAlta is Canada’s largest investor-owned renewable energy provider.
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