Capital Power Corporation and EPCOR Announce Completion of $200 Million Secondary Offering of Common Shares
2010-12-14

EDMONTON, Alberta - Capital Power Corporation (TSX: CPX) ("Capital Power") and EPCOR Utilities Inc. ("EPCOR") announced today that EPCOR has completed its previously-announced sale of 8,334,000 common shares of Capital Power at an offering price of $24.00 per common share.

The underwriters have an option to purchase up to an additional 1,250,000 common shares at $24.00 per common share to cover over-allotments. The over-allotment option is exercisable, in whole or in part, at any time up to 30 days after today's closing.

EPCOR currently indirectly owns 61.6% of the common shares of Capital Power, prior to any exercise of the over-allotment option, on a fully diluted basis which it intends to sell as its demands for capital require and market conditions permit.

Forward-Looking Information

Certain information in this news release relating to EPCOR is forward looking and related to anticipated events and strategies. When used in this context, words such as "will", "anticipate", "believe", "plan", "intend", "target" and "expect" or similar words suggest future outcomes. By their nature, such statements are subject to significant risks and uncertainties, which include, but are not limited to, regulatory and government decisions, economic conditions, and availability and cost of financing.

Readers are cautioned not to place undue reliance on forward-looking statements as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements. Except as required by law, EPCOR disclaims any intention and assumes no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

About Capital Power Corporation

Capital Power is a growth-oriented North American independent power producer, building on more than a century of innovation and reliable performance. The Company's vision is to be recognized as one of North America's most respected, reliable and competitive power generators. Headquartered in Edmonton, Alberta, Capital Power has interests in 32 facilities in Canada and the U.S. totalling nearly 3,800 megawatts of generation capacity. Capital Power and its subsidiaries develop, acquire and optimize power generation from a wide range of energy sources.

About EPCOR Utilities Inc.

EPCOR's wholly owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure. EPCOR, headquartered in Edmonton, Alberta, is an Alberta Top 50 employer.

For more information, please contact:

Capital Power
Media inquiries: Mike Long (780) 392-5207
Investor Relations: Randy Mah (780) 392-5305
(866) 896-4636 (toll-free)
EPCOR
Media inquiries: Tim LeRiche (780) 969-3238
Investor Relations: Claudio Pucci (780) 969-8245