CALGARY, ALBERTA--(Marketwire - March 6, 2008) - ATCO Power reported today that its 1,000 megawatt (MW) Barking Power Station in East London, England, of which ATCO Power owns 25.5%, has resumed full operations. The unplanned outage, originally reported on November 5, 2007, reduced the plant capacity to approximately 400 MW's during this period. Regular operations are expected for the month of March.
Discussions are on-going with insurers and their advisers, who have endorsed the repair strategy and approved interim payments which commenced in early 2008. Business interruption and property insurance is expected to cover the majority of the outage losses after December 9, 2007.
ATCO Power, part of the ATCO Group of Companies, is a world-class developer, construction manager, owner and operator of technologically advanced independent power generation facilities. ATCO Group, an Alberta-based worldwide organization of companies with assets of approximately $8.0 billion and more than 7,800 employees, is comprised of three main business divisions: Power Generation, Utilities (natural gas and electricity transmission and distribution) and Global Enterprises (industrials, technology, logistics and energy services). Further information on ATCO can be found at www.atco.com.
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The Corporation's actual results could differ materially from those anticipated in these forward-looking statements as a result of regulatory decisions, competitive factors in the industries in which the Corporation operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Corporation.
The forward-looking statements contained in this news release represent the Corporations' expectations as of the date hereof, and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
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