TransAlta Swings to Profit as Power Portfolio Shifts

Adjusted earnings before interest, taxes, depreciation and amortization rose to C$264 million from C$238 million, signaling improved margins despite the decline in output to 5,260 gigawatt hours. The Alberta-based utility continues to project adjusted EBITDA between C$950 million and C$1.05 billion for the year, with free cash flow expected to land in the C$350 million to C$450 million range.

The company’s operational footprint remains in flux as it balances regulatory demands with asset restructuring. In September, the U.S. Department of Energy extended the life of the Centralia coal-fired plant in Washington state for another 90 days, keeping the facility running through mid-December. Simultaneously, TransAlta is aggressively reshaping its energy mix. The firm recently offloaded a 49% stake in an Oklahoma wind portfolio to Ares Infrastructure for US$305 million, following a US$1 billion deal in June to acquire natural-gas peaking facilities near Denver.