Corporate Responsibility Report 2012

Corporate Targets & Performance

Setting and delivering on TARGETS

Our 2012 results met or exceeded the majority of our operational excellence and financial targets. 

Operational excellence

Plant availability average

  2012 2012 2013 
  Target

Actual Results

 Target
Operational excellence
Plant availability average 91% or greater 91%
 93% or greater
Capital expenditures for plant maintenance, Genesee mine extension and other $108 million or lower $102 million $105 million or lower
Maintenance and operating expenses $215 million to $235 million $208 million $225 million to $245 million

Sustaining capital expenditures for plant maintenance, Genesee mine extension and other

  2012 2012  2013
  Target

Actual Results

 Target
Operational excellence
Plant availability average 91% or greater 91%
 93% or greater
Capital expenditures for plant maintenance, Genesee mine extension and other $108 million or lower $102 million $105 million or lower
Maintenance and operating expenses $215 million to $235 million $208 million
 $225 million to $245 million

Maintenance and operating expenses

  2012 2012 2013 
  Target

Actual Results

 Target
Operational excellence
Plant availability average 91% or greater 91%
 93% or greater
Capital expenditures for plant maintenance, Genesee mine extension and other $108 million or lower $102 million $105 million or lower
Maintenance and operating expenses $215 million to $235 million $208 million $225 million to $245 million

Financial stability and strength

Normalized earnings per share

  2012 2012 2013 
  Target Actual Results

Target
Financial stability and strength
Normalized earnings per share $1.50 to $1.70 $1.29 $1.20 to $1.40
Funds from operations $380 million to $420 million $381 million $385 million to $415 million
Cash flow per share $3.90 to $4.30 $3.89 $3.80 to $4.20

Funds from operations

  2012 2012 2013 
  Target Actual Results

Target
Financial stability and strength
Normalized earnings per share $1.50 to $1.70 $1.29 $1.20 to $1.40
Funds from operations $380 million to $420 million $381 million $385 million to $415 million
Cash flow per share $3.90 to $4.30 $3.89 $3.80 to $4.20

Cash flow per share

  2012 2012 2013
  Target Actual Results

Target
Financial stability and strength
Normalized earnings per share $1.50 to $1.70 $1.29 $1.20 to $1.40
Funds from operations $380 million to $420 million $381 million $385 million to $415 million
Cash flow per share $3.90 to $4.30 $3.89 $3.80 to $4.20
  2012 2012  2013
  Target

Actual Results

 Target
Enhancing shareholder value
K2 wind project Full notice to proceed in 2012 Full notice to proceed revised to late 2013 or early 2014 Environmental approvals received in 2013
Port Dover & Nanticoke wind project Full notice to proceed in 2012 Limited notice to proceed received Continue on budget of $340 million and on time with commercial operation date in the fourth quarter of 2013
Shepard Energy Centre n/a n/a Continue on budget of $860 million
Halkirk Wind   Continue on budget of $357 million and on time with commercial operation date in the fourth quarter of 2012 Achieved commercial operation date on December 1, 2012 with actual capital costs forecast to be from $325 to $335 million n/a
Quality Wind   Continue on budget of $455 million and on time with commercial operation date in the fourth quarter of 2012 Achieved commercial operation date on November 6, 2012 with actual capital costs forecast to be from $405 to $415 million n/a

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