November 23, 2012 / 1:40 PM / 5 years ago

CORRECTED-TransAlta gets force majeure relief for power plant outages

(Corrects currency to Canadian dollar)

Nov 23 (Reuters) - TransAlta Corp, which operates AltaGas Ltd’s Sundance power plant in Alberta, said an independent arbitration panel has granted it force majeure relief related to outages in the plant in 2010 and 2011.

TransAlta put out of service unit 3 of the plant in May 2010, citing problems with critical generator components.

The company declared force majeure in June but AltaGas contested the claim.

AltaGas said on Friday that it expects to receive about C$5 million from TransAlta and expects to record an after-tax, non-cash charge of about C$8 million in the fourth quarter. (Reporting by Krithika Krishnamurthy in Bangalore; Editing by Don Sebastian)

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