TransCanada Power, L.P. Announces Quarterly Distribution
CALGARY, Alberta - June 16, 2005 - The Board of Directors of TransCanada Power Services Ltd., the general partner of TransCanada Power, L.P. (TSX:TPL.UN) (the Partnership), declared a cash distribution of $0.63 per limited partnership unit for the quarter ending June 30, 2005.
The distribution is payable on July 29, 2005 to unitholders of record at the close of business on June 30, 2005. This is the 32nd consecutive distribution that has either met or exceeded previous distributions paid by the Partnership since inception in mid-1997.
TransCanada Power, L.P. is a Canadian limited partnership that seeks to offer investors solid cash flows and growth prospects. The Partnership enjoys stability ratings of SR-1 (Standard & Poor’s) and STA-1 (low) (Dominion Bond Rating Services). The S&P debt rating for the Partnership is A- while the DBRS rating is A (low). The Partnership’s units trade under the symbol TPL.UN on the Toronto Stock Exchange. TransCanada Power, L.P. owns 11 power plants in Canada and the United States with total generating capacity of 744 megawatts. Subsidiaries of TransCanada Corporation manage the Partnership and the operation of assets owned by the Partnership. These subsidiaries own 30.6 per cent of the Partnership. TransCanada announced in May that it has entered into agreements to sell its interests in TransCanada Power, L.P. to EPCOR Utilities Inc., subject to regulatory approvals.
FORWARD LOOKING INFORMATION
Certain information in this document is forward-looking and is subject to important risks and uncertainties. The results or events predicted in this information may differ from actual results or events. Factors which could cause actual results or events to differ materially from current expectations include, among other things, the ability of TransCanada Power, L.P. to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability and price of energy commodities, regulatory environment, competitive factors in the power industry sector, and the prevailing economic conditions in North America. For additional information on these and other factors, see the reports filed by TransCanada Power, L.P. with Canadian securities regulators. TransCanada Power, L.P. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Investor Relations
TransCanada Power, L.P.
(888) 887-7717
Prior to September 1, 2005, financial reports, news releases, investor presentations were issued by TransCanada Power, L.P.. Following acquisition of TransCanada's interest by EPCOR Utilities Inc., the Partnership was renamed EPCOR Power L.P.