Maxim Power Corp. announced today the release of financial and operating results for the fourth quarter and year ended December 31, 2014.
Maxim Power Corp. Receives Approval for Milner Expansion and Provides Results of ISO New England’s Forward Capacity Auction No. 9
Maxim Power Corp. (“MAXIM” or the “Corporation”) (TSX:MXG) announced today that the Alberta Utilities Commission (“AUC”) issued Decision 3420-D01-2015 approving MAXIM’s application to construct and operate the Milner Expansion Project (“M3”). M3 is an 86 megawatt (MW) natural gas-fired cogeneration power plant to be located adjacent to MAXIM’s existing HR Milner Generating Station (“M1”), approximately 20 kilometres north of the town of Grande Cache, Alberta.
Maxim Power Corp., as previously reported, has been responding to a FERC inquiry since the latter part of 2013 related to its offers to supply electricity in the ISO New England market.
Maxim Power Corp. announced today that the Alberta Utilities Commission (“AUC”) has rendered its decision on Module A of Phase 2 of Milner Power Inc.’s (“Milner”) complaint against the Alberta Electric System Operator’s (“AESO”) Line Loss Rule. The AUC confirmed that “monetary relief is both necessary and just” and that it possesses the “requisite authority to grant such relief”. The decision further states that such relief will be granted for the period January 1, 2006 to the date a new rule takes effect.