Media Statement – In TransAlta’s words

May 2, 2014

Great companies are built by great people.
TransAlta was built by people with great pride in their personal integrity, and that in turn is what gives our company its corporate integrity.
Both are enormously important to us. We feel strongly about our values. We work hard to live up to our principles. We are all aware of the high expectations of a company that has provided 103 years of service.
Today we are more confident than ever in saying that our actions in the market were well within the rules set by Alberta regulators and that we look forward to settling the issue in the AUC hearing. We have no hesitation in saying that we will stand behind our people, our decisions and our actions.
We believe that we were within the four corners of the MSA’s guidelines and that although the rules and guidelines changed; our commitment to stand up for our convictions has not. Our employees and customers expect it. Our values and integrity demand it.
We also believe in fairness and a level playing field. We believe the rules should be the same for all market participants. We believe we’ve acted within the boundaries of the MSA’s policy and guidance throughout, and we believe we are right in taking a principled stand on this dispute. We are focused on the future, on what matters to our employees, our company, our customers and the communities were serve.
Our priorities are really quite simple: Operate reliably and consistently. Keep our competitive positioning in Alberta, in renewables across Canada and in Western Australia. Serve customers as markets evolve here in Alberta. Reduce our merchant exposure. Deliver on our financial priorities. Build cash on the balance sheet and deploy it only for the best investments. Protect the cash that is coming to shareholders and reinvest it only in assets with strong returns. And, above all, keep focusing on serving customers and adding new customers to serve.
This is what growth means to TransAlta.
We have confidence in our markets, our assets, our vision, our strategy, our values and, most importantly, our people.
Deregulation is evolving, and along with it the Alberta market. Market rules are important and the transparency of those rules is important. Although we disagree on this issue, we believe the MSA has an important function in the market, the AESO has a function in the market, and the AUC has a function, as well as the Department of Energy and even our competitors.
Stronger market rules will emerge. Our case will help strengthen those rules, and we expect that they will be more transparent.
We are also taking a leadership role in terms of getting the changes needed to ensure the Alberta market is transparent and easier to understand for our customers. Because that is what Albertans expect and deserve.

For more information:

Media Inquiries:
Stacey Hatcher
Manager, External Relations Advisor
Cell: 587-216-2242
Toll-free media number: 1-855-255-9184
Alternate local number: 403-267-2540