Jan 9 (Reuters) - Atlantic Power Corp ATP.TO -
* Atlantic Power provides update on status of three Ontario facilities
* Revised contractual arrangements for, and operational status of, its Kapuskasing, North Bay and Nipigon facilities in ontario
* Effective for 2017, unit has signed nug enhanced dispatch contracts with Ontario independent electricity system operator for 3 facilities
* Does not expect revised contractual arrangements for three facilities to have a cash impact on its 2016 financial results
* APLP has agreed to terminate power purchase agreements with ontario electricity financial corporation for Kapuskasing, North Bay plants
* Atlantic Power Corp says enhanced dispatch contract for Nipigon provides fixed monthly payments to that plant through October 31, 2018
* Impact on 2017 financial results is expected to be positive as compared to corresponding results under previous arrangements for 3 plants
* APLP has agreed to suspend for a period Nipigon power purchase agreements, which is scheduled to expire in dec 2022
* Amortization of intangible assets related to power purchase agreements must be accelerated, resulting in non-cash expense about $13 million
* Non-cash amortization expense will be included in 2016 net income rather than being expensed over course of 2017
* Company also has begun process of Mothballing Nipigon Source text for Eikon: ID:nPn2Xv0dKa Further company coverage: ATP.TO