December 09, 2010

Capital Power provides updates at annual Investor Day event

new online casino no deposit bonus– Capital Power Corporation (TSX: CPX) (Capital Power or the Company) is hosting its 2010 Investor Day event in Toronto at the St. Andrew’s Club and Conference Centre starting at 8:30 a.m. Eastern Time today. The Company’s executive leadership team will provide investors with a review of Capital Power’s operations, strategy, and corporate priorities for 2011. The event can be accessed through a webcast that will be available on the Company’s website at

Corporate Updates
Financial and operating information provided during the presentation includes:

  • Affirmation that Capital Power is expected to meet or exceed its 2010 normalized Earnings Per Share (EPS) guidance of approximately $1.20;
  • Updates on the Company’s capital structure and debt maturity profile following recent offerings of cumulative rate reset New casino sitespreferred shares and unsecured medium term note debentures, and following the expected close of the recently announced secondary offering of Capital Power’s common shares by a subsidiary of EPCOR;
  • Update on the transition from Canadian GAAP accounting standards to International Financial Reporting Standards; and,
  • Forecast full-year 2010 operating availability of 91% for Capital Power facilities.

Development and growth updates provided during the presentation include:

  • Progress on construction and development activity at the Company’s three development projects, Keephills 3, Quality Wind and Port Dover & Nanticoke, including announcement of the planned first fire of the Keephills 3 boiler in December 2010;
  • The Company’s expectations for North American power markets and an overview of the Company’s development pipeline.

Outlook for 2011
In addition to reporting on the achievement of Capital Power’s 2010 corporate priorities, the Investor Day presentations provide information on corporate priorities for 2011. The 2011 priorities include:

  • Achieving 94% capacity-weighted availability at Capital Power’s power plants;
  • Investing approximately $40 million in maintenance capital for ongoing plant maintenance and the Genesee Mine extension;
  • Committing $1.5 billion or more in capital to acquisitions or developments that are in-line with the Company’s targeted rates of return;
  • Completing construction of Keephills 3, with Capital Power’s final costs being $955 million or less and with commercial operation in the second quarter of 2011; and,
  • Continuing on-time and on-budget development progress for the Quality Wind and Port Dover & Nanticoke wind projects, each of which is expected to reach commercial operation before the end of 2012.

Capital Power expects to provide further guidance on 2011 normalized EPS and 2011 Funds From Operations in January 2011.

Leadership Team Updates
Capital Power is also announcing succession planning and senior leadership new online casino no deposit bonuschanges that are designed to enhance the experience of the Company’s leadership team. Beginning January 2011:

  • Senior Vice President Operations Graham Brown will retire after 35 years in the power industry. Mr. Brown will advise Capital Power through to at least July 2011, and remain on the Capital Power Income LP Board;
  • Current Senior Vice President Commercial Services Jim Oosterbaan will become Senior Vice President Operations & Commodity Portfolio Management, taking on Mr. Brown’s accountability for power operations;
  • Bryan DeNeve joins the executive team as Senior Vice President Commercial Services, from his current role as Vice President Business Development where he reported to Mr. Oosterbaan. Mr. DeNeve will continue to lead Capital Power’s business development initiatives; and,
  • Robert Brassard becomes Vice President Canadian Operations, and is succeeded as Vice President Planning, I.S. & Business Transformation by Allan Danroth.

Forward-looking information
Certain information in this news release is forward-looking within the meaning of Canadian securities laws as it relates to anticipated financial and operating performance, events or strategies. When used in this context, words such as will, anticipate, believe, plan, intend, target, and expect or similar words suggest future outcomes.

Forward-looking information includes, among other things, information relating to: (i) expectations that Capital Power’s 2010 normalized EPS will meet or exceed $1.20; (ii) expectations that full-year 2010 operating availability at Capital Power’s facilities will be 91%; (iii) expectations that first fire of the Keephills 3 boiler will occur in December 2010; (iv) Capital Power’s 2011 corporate priorities and business targets, (v) expectations that Capital Power will announce targets for 2011 normalized EPS and Funds From Operations in January 2011, and (vi) planned changes to New casino gamesCapital Power’s leadership team.

These statements are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate. The material factors and assumptions used to develop these forward-looking statements include, but are not limited to: (i) the operation of the Company’s facilities; (ii) power plant availability and dispatch; (iii) the Company’s financial position and credit facilities and sources of funding; (iv) the Company’s assessment of commodity and power markets; (v) the Company’s assessment of the markets and regulatory environments in which it operates; (vi) the Company’s assessment of economic conditions; (vii) weather; (viii) availability and cost of labour and management resources; (ix) performance of contractors and suppliers; (x) availability and cost of financing; (xi) foreign exchange rates; (xii) management’s analysis of applicable tax legislation; (xiii) the currently applicable and proposed tax laws will not change and will be implemented; (xiv) currently applicable and proposed environmental regulations will be implemented; (xv) counterparties will perform their obligations; (xvi) renewal and terms of PPAs; (xvii) ability to successfully integrate and realize benefits of its acquisitions; (xviii) ability to implement strategic initiatives which will yield the expected benefits; (xix) ability to obtain necessary regulatory approvals for development projects; (xx) the Company’s assessment of capital markets and ability to complete future share and debt offerings; (xxi) locations of projects and the areas of which they will be developed, including the availability New online casinosand use of certain optioned lands; and, (xxii) costs of construction and development.

Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results and experience to differ materially from the Company’s expectations. Such risks and uncertainties include, but are not limited to, risks relating to: (i) operation of the Company’s facilities; (ii) power plant availability and performance; (iii) unanticipated maintenance and other expenditures; (iv) availability and price of energy commodities; (v) electricity load settlement; (vi) regulatory and government decisions including changes to environmental, financial reporting and tax legislation; (vii) weather and economic conditions; (viii) competitive pressures; (ix) economic and market conditions, including in the markets served by Capital Power’s facilities; (xx) construction; (xi) availability and cost of financing; (xii) foreign exchange rates; (xiii) availability and cost of labour, equipment and management resources; (xiv) performance of counterparties, partners, contractors and suppliers in fulfilling their obligations to the Company, (xv) developments in the North American capital markets; (xvi) compliance with financial covenants; (xvii) ability to successfully realize the benefits of acquisitions and investments; and (xviii) the tax attributes of and implications of any acquisitions. If any such risks actually occur, they could materially adversely affect the Company’s business, financial condition or results of operations. In that case the trading price of the Company’s common shares could decline, perhaps materially.

If any such risks actually occur, they could materially adversely affect the Company’s business, financial condition or results of operations. In that case the trading price of the Company’s common shares could decline, new online casino no deposit bonusperhaps materially. Readers are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management’s current expectations, and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

About Capital Power Corporation
Capital Power is a growth-oriented North American independent power producer, building on more than a century of innovation and reliable performance. The Company’s vision is to be recognized as one of North America’s most respected, reliable and competitive power generators. Headquartered in Edmonton, Alberta, Capital Power has interests in 32 facilities in Canada and the U.S. totaling nearly 3,800 megawatts of generation capacity. Capital Power and its subsidiaries develop, acquire and optimize power generation from a wide range of energy sources.