Sale of Clover Bar Unit Contract

December 17, 2003

The Balancing Pool announces the sale of a 157 MW unit-specific power contract, related to the Clover Bar Power Purchase Arrangement to Enmax Energy Corporation.

Enmax will acquire the right to offer and sell energy, capacity and ancillary services entitlements in respect of the unit contract and will be in control of the full offer strategy for the unit. These entitlements will be subject to the physical risks of the unit. The contract will transfer control of the offer strategy for Clover Bar Unit 3 from January 2, 2004 to December 31, 2004.

"This sale represents the final step in the MAP II sale process which began in mid-2002." said Gary Reynolds the Balancing Pool CEO. "During the past 18 months over 2,100 MWs of MAP II capacity has been sold to 10 different market participants, which has significantly increased the choice of suppliers for consumers in the Alberta electricity market." The attached table provides an updated summary of MAP II buyers following this transaction.

For further information please contact:
Gary Reynolds,
President and CEO
(403) 538-3443

MAP II Summary January, 2004