09:51 AM EST - TransCanada Corporation : has received a favourable decision from an independent arbitration panel regarding the dispute over TransAlta Corporation's Sundance A force majeure and destruction claims. The arbitration panel was selected by TransCanada, TransAlta and the Alberta Balancing Pool. Under the PPA, TransCanada is entitled to 100% of the generating capacity of the 560 MW Sundance A coal-fired power generating facility until the PPA expires at the end of 2017. In December 2010, Sundance A Units 1 and 2 were withdrawn from service and shortly thereafter, TransAlta claimed force majeure and economic destruction under the terms of the PPA. These claims were heard by the independent arbitration panel earlier this year. In summary, the independent panel has ordered TransAlta to rebuild these units and limited their force majeure claim from November 20, 2011 until a period of time that the units can reasonably be returned to service. TransCanada Corporation
shares T.TRP are trading down $0.37 at $43.94.
