TransForm: TransAlta 2000 annual report

Financial information from TransAlta Corp. was presented along with a review of their operations throughout 2000 and a summary of the how the electric utility is doing in terms of power generation, independent power producers, transmission and energy marketing. The utility has changed from a regulated vertically integrated utility into one of Canada's largest non-regulated electric power generators. The utility sold its retail businesses in Alberta and New Zealand and now focuses on coal and hydro generation, gas generation, high-voltage transmission and energy marketing. The newly constructed Centralia, Washington generation facility was brought on line with 1,340 MW in May 2000, on time and on budget. This was the platform to diversify their generation into the United States. The utility reported a solid financial year with $177.9 million in earnings from continuing operations, an 83 per cent increase from 1999, driven mostly by the results of Centralia and power marketing and trading businesses. A financial loss was suffered when the Wabamum power plant in Alberta was shut down for several months to repair a boiler. The utility made excellent progress toward their goal of 15,000 megawatts by 2005 by starting with the construction of what will be one of Canada's largest cogeneration facilities at Sarnia, Ontario. TransAlta also commissioned a 360 MW cogeneration facility at Poplar Creek at Suncor's Fort McMurray oil sand facility. TransAlta also has an excellent track record in developing power generation projects internationally. refs., tabs., figs