Sale of Clover Bar Unit Contract

 

February 1, 2005

 

The Balancing Pool announces the sale of a 157 MW unit-specific power contract related to the Clover Bar Power Purchase Arrangement to Sempra Energy Trading Corp., which is part of the Sempra Energy group of companies based in San Diego, California. Sempra Energy is a Fortune 500 energy services company with 2003 revenues of USD $7.9 billion.

 

Sempra Energy Trading Corp. 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 February 1, 2005 to September 30, 2005.

 

"We are very pleased to conclude this transaction with Sempra Energy Trading who are a new entrant to the Alberta power market" said Kevin Asman of the Balancing Pool. "This transaction now increases the number of buyers of MAP II contracts to eleven different companies." The attached table provides an updated summary of MAP II buyers following this transaction.

 

MAP II Summary at February 2005:

 

	Clover Bar Units	Sheerness Strips	Genesee Strips	Total MAP II Capacity
AltaGas Services			100	100
BP Canada Energy			81	81
Candela Energy Services		78		78
Constellation Energy Commodities	157	100	300	557
Direct Energy Marketing		100	100	200
El PasoMerchant Energy	157	100		257
ENMAX Energy			81	81
SeeGen Alberta			100	100
Sempra Energy Trading	157			157
TransCanada Energy		100		100
UBS Energy Canada	157	278		435
Totals	628 MW	756 MW	762 MW	2,146 MW

For further information please contact: Kevin Asman, Director Commercial at (403) 539-5356 orGary Reynolds, President and CEO at (403) 539-5351.