TransAlta Corp. moved back into the black during the second quarter on stronger production numbers and $30-million tax recovery. The TransAlta executive warned low natural gas prices and flat demand would dampen power price rebounds until 2011, when Alberta, its main market, is expected to see two-to-three per cent growth. Prices in Alberta more than doubled during the quarter to average $81 per megawatt hour from $32 per MWh a year prior on lower available supply and transmission issues. However, the average year-to-date price has softened to $61 per MWh, and is expected to continue its slide… Vancouver-based developer Finavera Renewable Inc has signed a pact with GE Energy that paves the way for the multinational to invest C$7.5 million toward the development of Finavera’s Peace Region wind projects in BC. The funding will be repaid at the financial close of each respective project…Central Maine Power Company has received the final federal permit from the U.S. Army Corps of Engineers to begin work on a $1.4 billion upgrade of its power transmission system. CMP plans to construct five new substations in central and southern Maine, linked by 450 miles of new or rebuilt transmission lines. CMP expects the project to take five years and employ an average of 2,000 people and generate $60 million in wages.
TransAlta Worried Flat Demand And Low Nat Gas Prices Will Keep Power Price Low
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