TransAlta, Q3 2026 Earnings Call Transcript

TransAlta reported strong third-quarter performance despite soft Alberta power prices, reaffirming its 2026 guidance. Hedging and fleet optimization helped deliver realized prices above spot, while the company expects its contracted fleet and hedge position to support cash flows in a low-price environment. It is mothballing Battle River units and extending the Sundance 6 outage to reduce near-term costs while preserving the option to return the assets as demand grows.

Growth priorities include converting Centralia to natural gas and developing the Boreal Technology Hub at Keephills, with potential load of up to 1.6 GW. Definitive customer agreements depend on Alberta system-operator decisions about access to underused generation and may extend into early 2027. TransAlta also closed its Colorado gas-plant acquisition and sold a minority stake in its Oklahoma wind portfolio; further asset sales are being considered to strengthen the balance sheet and fund growth.