Natural Gas-Fired Plant's Energy Services Agreement Extended

Energy Services Agreement Extended for Natural Gas-Fired Power Plant

Atlantic Power Corp. (NYSE: AT) signed an agreement with Equistar Chemicals LP to modify and extend an agreement for a natural gas-fired power plant in Illinois.

The companies will modify and extend the Energy Services Agreement (ESA) for the 177-MW combined-cycle natural gas-fired Morris power project from November 2023 to December 2034. The extension increases the average remaining life of power purchase agreements from 7.2 years to 7.6 years. Equistar is the primary customer for the plant’s steam output. The remaining capacity and energy, as well as ancillary services, are sold into the PJM market.

Separately, Atlantic Power Corp. expects Morris to undergo an approximately six-week major maintenance outage in late summer 2016, then undergo a shorter routine outage in the spring. During the outages, the company will continue work on upgrades to the project’s combustion turbines and steam turbine generator.

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