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     177  0 Kommentare Capital Power’s initial response to BC Hydro’s draft Integrated Resource Plan

    EDMONTON, Alberta, June 21, 2021 (GLOBE NEWSWIRE) -- Capital Power Corporation (TSX: CPX) (Capital Power) provides initial response to BC Hydro’s draft Integrated Resource Plan (IRP) submitted to the British Columbia Utilities Commission (BCUC) today.

    The draft IRP references two natural gas-fired independent power facilities, including Capital Power’s Island Generation facility at Campbell River on Vancouver Island, for which BC Hydro is not currently intending to renew the long-term Electricity Purchase Agreement (EPA) expiring in April 2022 as set out in the excerpt below:

    The 275 MW Island Generation facility (located in the South Coast region) operates as a dispatchable facility based on system requirements and market conditions. Generally, we operate the facility on an infrequent basis in favour of other lower cost resources, which means that its greenhouse gas emissions are typically lower than a project like McMahon, about 10,000 tonnes of CO2e per year. The electricity purchase agreement with Island Generation expires in fiscal 2023.

    While we have had discussions with the Island Generation counterparty to understand potential terms of a renewal, there is no basis, at this time, to assume that the electricity purchase agreement with this facility will be renewed. Accordingly, Island Generation is not assumed to be in operation in the applicable Load Resource Balances after fiscal 2023, and its renewal is not contemplated in the Base Resource Plan.

    “We continue to believe the Island Generation facility is needed to ensure secure and reliable electricity supply for homes and businesses on Vancouver Island and in Metro Vancouver and will actively participate in the consultation process,” said Chris Kopecky, Senior Vice President and Chief Legal, Development & Commercial Officer of Capital Power. “The facility has been extremely reliable for BC Hydro with a 99% average availability in the last five years, providing critical back-up power and grid reliability for Vancouver Island and Metro Vancouver over the past decade under Capital Power after it was acquired in 2010.”

    The renewal status of the contract does not impact on 2021 results and based on Capital Power’s current recontracting assumptions, the contract not being renewed is not material to Management’s future cash flow expectations.

    Forward-looking Information
    Forward-looking information or statements included in this press release are provided to inform the Company’s shareholders and potential investors about management’s assessment of Capital Power’s future plans and operations. This information may not be appropriate for other purposes. The forward-looking information in this press release is generally identified by words such as will, anticipate, believe, plan, intend, target, and expect or similar words that suggest future outcomes.

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    Capital Power’s initial response to BC Hydro’s draft Integrated Resource Plan EDMONTON, Alberta, June 21, 2021 (GLOBE NEWSWIRE) - Capital Power Corporation (TSX: CPX) (Capital Power) provides initial response to BC Hydro’s draft Integrated Resource Plan (IRP) submitted to the British Columbia Utilities Commission (BCUC) …