Government of Alberta
Government of Alberta
News Article | May 5, 2017
"The decision to convert six of our units to natural gas positions us to be a strong competitor in the Alberta power market as carbon is priced and capacity becomes more valuable," said Mrs. Farrell. "We have a clear path forward that is aligned with policy, and the need to provide clean and affordable solutions for Albertans," added Mrs. Farrell. Reported net earnings attributable to common shareholders for the quarter was nil (nil per share) compared to net earnings of $62 million ($0.22 net earnings per share) in 2016 due to higher net earnings attributable to TransAlta Renewables Inc. shareholders. Last year, net earnings in the first quarter were also positively impacted by the reduction of our reclamation obligation at our Centralia mine caused by a higher discount rate. This year, higher depreciation arose due to the shortening of useful lives of Keephills 3 and Genesee 3. Adjusted availability for the three months ended March 31, 2017 was 88.5 per cent compared to 92.3 per cent for the same period in 2016. Higher unplanned outages at Canadian and US Coal were the main cause of the decrease. Lower availability had a minimal impact on our results due to current low prices in Alberta and the Pacific Northwest. Production for the three months ended March 31, 2017 was 9,051 gigawatt hours ("GWh"), compared to 8,867 GWh for the same period in 2016, mainly due to higher production at US Coal as a result of later economic dispatching in 2017 due to higher prices, partially offset by the cessation of operations at our Mississauga cogeneration facility, effective Jan. 1, 2017, in accordance with the terms of a new contract with Ontario's Independent Electricity System Operator ("IESO"). We will continue to receive monthly capacity payments from the IESO until Dec. 31, 2018. For the first quarter, sustaining capital expenditures decreased by $13 million compared to 2016, mainly due to lower planned outage expenditures. In 2016 we executed pit stops on our Sundance 1 and 2 Units as well as a large outage on Sundance Unit 4. During the first quarter of 2017, only one planned outage was performed on Sundance Unit 6. First Quarter 2017 Financial and Operational Highlights The complete report for the quarter, including MD&A and unaudited interim financial statements, as well as our quarterly presentation, will be available on the Investors section of our website: www.transalta.com. Conference call We will hold a conference call and webcast at 9:00 a.m. MT (11:00 a.m. ET) on Monday, May 8, 2017 to discuss our first quarter 2017 results. The call will begin with a short address by Dawn Farrell, President and CEO, and Donald Tremblay, Chief Financial Officer, followed by a question and answer period for investment analysts, investors and other interested parties. A question and answer period for the media will immediately follow. Please contact the conference operator five minutes prior to the call, noting "TransAlta Corporation" as the company and "Jaeson Jaman" as moderator. A link to the live webcast will be available on the Investor Centre section of TransAlta's website at http://www.transalta.com/investors/events-and-presentations. If you are unable to participate in the call, the instant replay is accessible at 1-855-859-2056 (Canada and USA toll free) with TransAlta pass code 5938029 followed by the # sign. A transcript of the broadcast will be posted on TransAlta's website once it becomes available. About TransAlta TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta maintains a low-to-moderate risk profile by operating a highly contracted portfolio of assets in Canada, the United States and Australia. TransAlta's focus is to efficiently operate wind, hydro, solar, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. For over 100 years, TransAlta has been a responsible operator and a proud contributor to the communities in which it works and lives. TransAlta has been recognized on CDP's Canadian Climate Disclosure Leadership Index (CDLI), which includes Canada's top 20 leading companies reporting on climate change, and has been selected by Corporate Knights as one of Canada's Top 50 Best Corporate Citizens and is recognized globally for its leadership on sustainability and corporate responsibility standards by FTSE4Good. For more information about TransAlta, visit our web site at www.transalta.com or follow us on Twitter @TransAlta. Cautionary Statement Regarding Forward Looking Information This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly, and without limitation, this news release contains forward-looking statements and information relating to: TransAlta's business and anticipated future financial performance; our expected strategies and opportunities; expected governmental regulatory regimes and legislation (including the Government of Alberta's Climate Leadership Plan) and the timing of the implementation of such regimes and regulations; the impact of the retirement of Sundance Unit 1 and mothballing of Sundance Unit 2 on our future cash flow; the construction and commissioning of the South Hedland power project and its expected timing, costs and benefits; the repositioning of the strategy by Energy Marketing; the expected settlement with the OEFC; our expected major turnaround costs; and our strategy to accelerate our transition to gas and renewable generation, including through coal-to-gas conversions. By their nature, forward-looking information requires us to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions and other forward-looking information will not prove to be accurate and readers are cautioned not to place undue reliance on our forward-looking information as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking information. Some of the factors that could cause such differences include: operational risks involving our facilities; changes in market prices where we operate; equipment failure and our ability to carry out repairs in a cost effective and timely manner, including unplanned outages at generating facilities and associated capital investments; the effects of weather; disruptions in the source of fuels, water or wind required to operate our facilities; energy trading risks; failure to obtain necessary regulatory approvals in a timely fashion; legislative or regulatory developments and their impacts, including development of regulations facilitating coal-to-gas conversions; increasingly stringent environmental requirements and their impacts; increased competition; global capital markets activity (including our ability to access financing at a reasonable cost); changes in prevailing interest rates; currency exchange rates; inflation levels and commodity prices; general economic conditions in the geographic areas where we operate; deterioration of credit markets; and impediments to the construction and commissioning of South Hedland. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect TransAlta's expectations only as of the date of this news release. TransAlta disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
News Article | April 21, 2017
UAlberta partners with top Chinese institution, Tsinghua University, to create Joint Research Centre for Future Energy and Environment during recent Alberta mission. EDMONTON, Alberta, April 22, 2017 /PRNewswire/ -- The University of Alberta is teaming up with research partners in China to develop low-carbon, sustainable energy solutions while tackling global environmental challenges. Officials from the U of A and Tsinghua University were in Beijing on April 20 to sign an agreement to create the Joint Research Centre for Future Energy and Environment. It was one of several key agreements the U of A signed with Chinese partners as part of a wider Government of Alberta trade mission, led by Premier Rachel Notley, to strengthen ties with the province's second-largest trading partner. "The University of Alberta values our long-standing partnerships with China and Tsinghua University, which bring together world-leading talent to address globally important issues such as clean energy, environment and climate change," said U of A President David Turpin. "Strengthening these collaborations will open even more avenues of discovery and lead to new ideas, technologies and innovations that will benefit both countries and the world." Larry Kostiuk, the U of A's associate vice-president of research, said the Joint Research Centre for Future Energy and Environment is the latest evolution in more than two decades of collaborations between the U of A and Tsinghua University—arguably China's best research institution and among the top in the world. In 2012, the U of A and Tsinghua created the Sino-Canadian Energy and Environment Research and Education Initiative, which has led to more than 30 partnerships in clean energy, environment, water, energy transport and policy. Kostiuk said the new centre elevates relations with Tsinghua to a "completely new level." Researchers will collaborate on a range of problems related to energy, environment and climate change, renewable energy, advanced power systems, energy transport and more. "This is a rare opportunity for a Canadian university to partner with Tsinghua University in such a significant way," said Kostiuk, who was in China for the signing. "We come from different places and backgrounds, but we're going to come together and leverage our different perspectives to solve common problems." The centre will be based at Tsinghua in a state-of-the-art research facility. Once operational, the centre will be able to apply for grant funding through the Chinese Ministry of Education, which is establishing strategic international research centres across the country. This centre would be the only one created in partnership with a Canadian university. Kostiuk will serve as the new centre's deputy director while retaining his position as director of U of A's Future Energy Systems initiative, which brings together researchers across disciplines to improve and develop new low-carbon energy technologies, integrate them into today's infrastructure and understand the social and economic impacts of their adoption. Kostiuk said the U of A-Tsinghua centre will be even broader in scope than Future Energy Systems, addressing environment and water issues not necessarily tied to energy. "Tsinghua University is a world leader in clean, low-carbon and renewable energy research and technologies. We all look forward to getting to work with incredibly bright people on both sides." "We are pleased to work with the University of Alberta, which has a global reputation in energy systems research," said Qikun Xue, vice-president of research with Tsinghua University. "We look forward to bringing our strengths together to tackle many critical issues facing our planet." In addition to the joint research centre, the Faculty of Rehabilitation Medicine signed a memorandum of understanding with Guanghua International Education Association to develop training for health professionals that will help China enhance and expand rehabilitation capacity. TEC Edmonton signed an agreement with Tsinghua University's research innovation incubator, TusPark/TusStar, on a new joint incubator. TusPark/TusStar operates the largest university science park in the world, and the new partnership would expand its global reach, creating economic opportunities for Edmonton and Alberta. "I am extremely proud to support the University of Alberta and TEC Edmonton in forming relationships with such innovative partners in China," said Premier Notley. "We look forward to seeing this partnership thrive, and to watching Alberta's expertise across a variety of areas, not only create opportunities for Albertans, but make a difference around the world." For further information: Bryan Alary, Communications Manager, Marketing & Communications, University of Alberta, Office: 780-492-0336 | Email: email@example.com
News Article | May 17, 2017
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To request a report overview of this report please email Sara Peerun at firstname.lastname@example.org or call Tel: +44-(0)-20-7336-6100 3F Chimica Accelerated Oil Technologies LLC Al Qaeda Alberta Energy Regulator Anterra Energy Inc BASF Beijing Hengju Chemical Group Corp Belayim Petroleum Company Berexco BlackPearl Resources BP BP Migas Cairn Energy India CASCO CCC Leduc Cenovus Centre of Excellence in EOR (Malaysia) Chemical EOR Alliance Chevron China Petroleum & Chemical Corporation Chinese EOR Laboratory CNOOC CNPC CNRL Connacher Oil and Gas Limited Dow Ecopetrol S.A EOR Centre of Excellence (Oman) EXPEC Advanced Research Center ExxonMobil FORCE (Forum for improved oil and gas recovery and improved exploration in Norway) GlassPoint Government Agencies and Other Organisations Mentioned in This Report Government of Alberta Government of Oman Harvest Energy Harvest Operations Huntsman Husky Energy Husky Oil Operations Hyak Energy Hyundai IFP Energies Nouvelles Instituto Colombiano del Petróleo (ICP) Kemira KOC Lukoil Medco Enerji Internasional Murphy Oil Nalco National Energy Technology Laboratory (NETL) National Enhanced Oil Recovery Institute Nexen Inc. Norwegian Government Occidental Petroleum Oil & Gas UK Oil Chem Technologies Oil India Ltd. ONGC OPEC Pan American Energy Partex Corporation Pengrowth Energy Corporation Penn West Pertamina Petroamazonas Petrobras Petrochina Petrofac Petróleos de Venezuela, S.A. (PDVSA) Petróleos Mexicanos (PEMEX) Petroleum Development Oman (PDO) Petroleum Technology Research Centre Petronas PT Chevron Pacific Indonesia PT Erraenersi Konstruksindo PT Multi Structure PwC Repsol Research Partnership to Secure Energy for America (RPSEA) Rex Energy RNZ Integrated Rock Energy RusPAV Saskatchewan Ministry of the Economy Sasol Saudi Aramco Shandong Polymer Bio-Chemicals Co. Ltd Shell (Royal Dutch Shell) Shell Canada Shell Chemicals Shell Malaysia SIBUR Siemens Energy Sinopec (China Petroleum and Chemical Corporation) SNF Floerger SNF Group Solvay Statoil Stepan Surtek Talisman TD Securities Terrex Energy Texaco Texas A&M University Tiorco Titan Oil Recovery Inc. Total UAE Oil Ministry University of Kansas University of Oklahoma University of Wyoming University of Wyoming Enhanced Oil Recovery Institute US Department of Energy (DoE) US EIA Wintershall World Bank YPF Zargon Oil and Gas To see a report overview please email Sara Peerun on email@example.com