ENMAX Acquires Battle River PPA from EPCOR for $567M

On June 5, 2006, EPCOR Utilities Inc. and certain of its affiliates completed the sale of the Battle River Power Purchase Arrangement and related agreements to ENMAX Corporation and certain of its affiliates for $567 million. EPCOR acquired the Power Purchase Arrangement in 2000 as part of Alberta's provincial electricity deregulation. The Power Purchase Arrangement covers the sale of electricity generated at Alberta Power (2000) Ltd.'s Battle River 3 and 4 generation units (until December 31, 2013) and Battle River 5 generation unit (until December 31, 2020), with a total committed capacity of approximately 660 megawatts.

EPCOR was advised internally by vice-president and general counsel Kate Chisholm, senior legal counsel Thomas O'Sullivan, legal counsel Michelle Plouffe and assistant corporate secretary and legal counsel William Wright.

ENMAX was advised internally by vice-president, legal services Kenneth Bateman and in-house counsel James Afaganis. Blake, Cassels & Graydon LLP assisted ENMAX on the transaction with a team that included Brock Gibson, Chris Christopher and Jana Kooperberg (corporate/commercial); Wanda Rumball and Ted Thiessen (tax) and Brian Facey and Jason Gudofsky (competition law).

Borden Ladner Gervais LLP provided the external legal advice with a team that included Ross Reaburn, David Whelan, Kent Howie, Angie Redecopp and Colin Dease (corporate/commercial); Scott Wilson (securities) and Larissa Tkachenko, Jim Williams and Beverly Gilbert (tax). EPCOR was also advised on competition law matters by Barry Zalmanowitz, Q.C., of Fraser Milner Casgrain LLP.

David Macaulay, Simon Johnson, Mitch Williams, Bob Booth and Marie Buchinski of Bennett Jones LLP acted as counsel to Alberta Power (2000) Ltd. on the transaction.