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BRIEF-ATCO says reaches agreement with the Government of Alberta on coal transition
November 25, 2016 / 9:47 PM / a year ago

BRIEF-ATCO says reaches agreement with the Government of Alberta on coal transition

Nov 25 (Reuters) - Atco Ltd

* Atco -agreed to work with government on conversion of coal-fired generation to natural gas

* Atco ltd - entered into agreement with government of alberta on transition payments for elimination of coal-fired emissions from sheerness generating station

* Atco -has also agreed to work with government on exploration of hydro generation, and development of alberta’s new capacity market

* In near-term, atco will assess economic viability of converting some of its coal-fired electricity generation to natural gas

* Atco ltd - agreement on transition payments on or before december 31, 2030

* Atco- as compensation for capital invested in sheerness, co will receive cash payments from government of $4.7 million annually for 14 years, commencing in 2017

* Atco ltd - sheerness units 1 and 2 were otherwise scheduled to retire in 2036 and 2040, respectively

* Press release - atco reaches agreement with the government of alberta on coal transition Source text for Eikon: Further company coverage:

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