Dec 3 (Reuters) - TransCanada Corp TRP.TO :
* Announces Bruce Power life extension agreement
* Bruce power entered into agreement with Ontario independent electricity
system operator (ieso)
* Says agreement to extend the operating life of the Bruce Power Facility to
2064
* Amended agreement will take economic effect January 1, 2016
* Says Transcanada and omers will each hold a 48.5 per cent interest in Bruce
Power
* Agreement to allow bruce power to invest in life extension activities for
units 3 through 8 to support long-term refurbishment program
* Co has exercised option to acquire additional interest in Bruce Power for
$236 million from Ontario municipal employees retirement system
* Bruce power will begin Receiving A Uniform price for all units beginning in
2016 of $65.73 per mwhr
* Says bruce power facility will continue to be managed and operated by the
management and staff of Bruce Power
* Co's estimated share of investment related to am program to be completed over
life of the agreement is about $2.5 billion
* Co's estimated share of investment in mcr work for units 3 through 8 over the
2020 to 2033 timeframe is about further $4 billion
* New agreement represents extension and material amendment to earlier
agreement that led to the refurbishment of units 1 and 2 at the site
* Investment in Bruce Power Expected to be accretive to earnings and cash flow
over the short and long term
* Bruce power,ieso can elect to not proceed with remaining mcr investments
should cost exceed certain thresholds
* Source text for Eikon ID:nCCN7lB6l5
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