February 28, 2003
Expressions of Interest sought for H.R. Milner
Calgary, Alberta, February 28, 2003 - The Balancing Pool is requesting expressions of interest to buy the 144-megawatt (MW) coal-fired H.R. Milner Generating Station located 20 km north of Grande Cache, Alta., Canada. Following this solicitation, the H.R. Milner Sale Committee expects to decide whether to continue with a sale process for the Station.
The station is currently operated by ATCO Power Ltd. for the benefit of the Balancing Pool.
Originally, the electricity capacity associated with this station was to have been offered to the open marketplace in the Government of Alberta's August 2000 sale of Power Purchase Arrangements (PPAs). The PPAs transferred the generation rights from formerly regulated stations built in Alberta before 1995 to a number of marketplace participants to promote the development of competition. H.R. Milner was withdrawn from the auction due to coal supply uncertainties and the Balancing Pool assumed management of the PPA associated with the H.R. Milner station.
The PPA was subsequently terminated, and, in May 2001, a Sale Committee consisting of ATCO Power Ltd., Alberta consumer representatives and the Balancing Pool initiated a sale process for H.R. Milner. This sale process was terminated in October 2001 when a satisfactory sale could not be concluded. At the time, the Balancing Pool announced that it anticipated reinitiating the H.R. Milner sale process in early 2003.
Parties interested in obtaining further information on this process should contact Macquarie North America Ltd., the financial advisor to the Sale Committee.
The Balancing Pool was established in 1999 through the Electric Utilities Act to manage the financial accounts arising from the transition to a competitive generation marketplace, and to assume ongoing responsibilities related to both the sold and unsold PPAs. Further information on the Balancing Pool is available at its web site: www.balancingpool.ca.
For more information, please contact:
Bruce RobertsDirector, Planning and Development, Balancing Pool 403-705-8519 bruce.roberts@balancingpool.ca
Expressions of Interest information:
Bruce HoggVice President and Director, Macquarie North America Ltd. 416-594-5157 bruce.hogg@macquarie.com