03:36 PM EST - EPCOR Power L.P. : and EPCOR Power Equity Ltd. announced that EPCOR Power L.P.'s current financial expectations for 2009 will be approximately 5% lower than its previous 2009 financial guidance. The 2009 prior financial guidance was based on the expectation that cash provided by operating activities before working capital changes plus dividends from Primary Energy Recycling Holdings would be approximately $147 million. The revised expectations primarily reflect lower expected operating margins at the North Carolina generation facilities. The North Carolina facilities are experiencing a lack of dispatch, which is a direct result of low natural gas prices. These facilities are fuelled by coal, wood waste and tire-derived fuel. Low natural gas prices result in lower operating costs for natural gas-fired power generation relative to other types of thermal generation, including those used at the North Carolina facilities. With natural gas prices expected to remain low at least through 2009, the North Carolina facilities are expected to be dispatched at minimal levels for the remainder of the year. EPCOR Power L.P.
shares T.EP.UN are trading down $0.49 at $14.51.
