TransCanada Confirms Bruce Power's Unit 1 Return to Commercial
Operations; Unit 2 Synchronized to Ontario Power Grid
CALGARY, ALBERTA -- (Marketwire) -- 10/24/12 -- TransCanada
Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) confirmed today Bruce
Power's Unit 1 is now in commercial operations, the final milestone
in the refurbishment of this Unit. A second significant milestone was
achieved on Tuesday, October 16, 2012, with the synchronization of
Unit 2 to the Ontario power grid.
"The commercial start of Unit 1 and synchronization of Unit 2 are
exciting developments that are bringing to a close Bruce Power's
plans to see these refurbished reactors operate safely and reliably
for decades to come," said Russ Girling, TransCanada's president and
chief executive officer.
"We are pleased to have both units online and generating clean
electricity that will help meet the needs of Ontario consumers,"
added Girling. "Following the investment that has been made in these
Units, we now expect that Bruce Power will begin to generate
significant cashflow under the long-term fixed-price contract with
the Ontario Power Authority."
Work will now continue on final commissioning activities on Unit 2,
with its return to commercial operations expected to commence in the
Bruce Power consists of two generating stations (Bruce A & B) with
each station housing four nuclear reactors. With eight operating
units, Bruce Power will produce more than 6,000 megawatts of
low-cost, safe and clean electricity. TransCanada owns 49 per cent of
Bruce A and 32 per cent of Bruce B.
With more than 60 years' experience, TransCanada is a leader in the
responsible development and reliable operation of North American
energy infrastructure including natural gas and oil pipelines, power
generation and gas storage facilities. TransCanada operates a network
of natural gas pipelines that extends more than 68,500 kilometres
(42,500 miles), tapping into virtually all major gas supply basins in
North America. TransCanada is one of the continent's largest
providers of gas storage and related services with approximately 380
billion cubic feet of storage capacity. A growing independent power
producer, TransCanada owns or has interests in over 10,900 megawatts
of power generation in Canada and the U
nited States. TransCanada is
developing one of North America's largest oil delivery systems.
TransCanada's common shares trade on the Toronto and New York stock
exchanges under the symbol TRP. For more information visit:
www.transcanada.com or check us out on Twitter @TransCanada.
FORWARD LOOKING INFORMATION This publication contains certain
information that is forward-looking and is subject to important risks
and uncertainties (such statements are usually accompanied by words
such as "anticipate", "expect", "would" or other similar words).
Forward-looking statements in this document are intended to provide
TransCanada security holders and potential investors with information
regarding TransCanada and its subsidiaries, including management's
assessment of TransCanada's and its subsidiaries' future financial
and operation plans and outlook. All forward-looking statements
reflect TransCanada's beliefs and assumptions based on information
available at the time the statements were made. Readers are cautioned
not to place undue reliance on this forward-looking information.
TransCanada undertakes no obligation to update or revise any
forward-looking information except as required by law. For additional
information on the assumptions made, and the risks and uncertainties
which could cause actual results to differ from the anticipated
results, refer to TransCanada's Management's Discussion and Analysis
filed February 15, 2012 under TransCanada's profile on SEDAR at
www.sedar.com and other reports filed by TransCanada with Canadian
securities regulators and with the U.S. Securities and Exchange
Shawn Howard/Grady Semmens
403.920.7859 or 800.608.7859
Investor & Analyst Enquiries:
David Moneta/Terry Hook/Lee Evans
403.920.7911 or 800.361.6522
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