Cold Weather and Trading Benefit TransAlta’s First-Quarter Results; Offset by Unplanned Outage
We are reaffirming our CAD 8.30 per share fair value estimate after TransAlta reported 2019 first-quarter adjusted comparable EBITDA of CAD 221 million versus CAD 236 million in the same period last year. Results benefited from cold weather and energy trading but were more than offset by the expiration of a power purchase agreement for the Mississauga gas-fired power plant and an unplanned outage at the Centralia coal-fired plant in Washington State.Cold weather pushed average Alberta Pool pri...
TransAlta and its subsidiaries are engaged in the production and sale of electric energy. Co. has 3 segments: the Generation segment which owns and operates hydro, wind, geothermal, biomass, natural gas and coal-fired facilities, and mining operations; the Energy Trading segment which is engaged in the wholesale trading of electricity ; and the Corporate segment which provides finance, tax, treasury, legal, regulatory, environmental, health and safety, sustainable development, corporate communications, government and investor relations, information technology, risk management, human resources, internal audit, and other administrative support to the Generation and Energy Trading groups.
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