Maxim Power Corp. Provides Further Details of the Purchase of 25 MW of Firm Financial Alberta Power for 2013
23 Novembre 2012 - 11:30PM
Marketwired
Maxim Power Corp. (TSX:MXG) ("MAXIM" or the "Corporation")
announced on November 20, 2012 that it entered into a 25 MW,
one-year firm financial swap agreement with an undisclosed third
party. The financial swap agreement provides an additional 25 MW of
power to MAXIM at a fixed price of $58.80 per MWh during 2013.
MAXIM views the current forward prices for the 2013 Alberta power
market as a favorable entry point considering the province's
current supply/demand fundamentals and anticipated volatility of
power prices.
MAXIM will factor this firm financial power position into the
optimization of its overall Alberta generation portfolio. The 25 MW
firm financial Alberta power agreement adds to MAXIM's existing
generating capacity of 156 MW, providing MAXIM with power
generation totaling 181 MW for 2013 through two physical power
plants and this financial swap. During 2013 MAXIM anticipates that
it will realize value from this portfolio through a combination of
offsetting firm financial power agreements, unit-contingent power
sales agreements, and selling electricity at spot Alberta
electricity prices.
About MAXIM
Based in Calgary, Alberta, MAXIM is an independent power
producer, which acquires or develops, owns and operates innovative
and environmentally responsible power and power related projects.
MAXIM currently owns and operates 40 power plants in western
Canada, the United States and France, having 788 MW of electric and
111 MW of thermal net generating capacity. MAXIM trades on the TSX
under the symbol "MXG". For more information about MAXIM, visit our
website at www.maximpowercorp.com.
Statements in this release which describe MAXIM's intentions,
expectations or predictions, or which relate to matters that are
not historical facts are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties which may cause the actual results, performances or
achievements of MAXIM to be materially different from any future
results, performances or achievements expressed in or implied by
such forward-looking statements. MAXIM may update or revise any
forward-looking statements, whether as a result of new information,
future events or changing market and business conditions and will
update such forward-looking statements as required pursuant to
applicable securities laws.
Contacts: Maxim Power Corp. John R. Bobenic President and CEO
(403) 750-9300 Maxim Power Corp. Michael R. Mayder Vice President,
Finance and CFO (403) 750-9311 www.maximpowercorp.com
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