TransAlta Corp T.TA

RE: Buying expensive spot power???in this heat?

[scissors14]

Transalta locked into some relatively cheap short term power last month in this short term tolling agreement with CF.UN. Calpine is about to award a long term agreement involving Calgary Centre after two short term tolling agreements, Epcor had the first followed by Transalta. After 11 bidders submitted, the shortlist is down to four, and it appears as though Epcor and Transalta are leading candidates after the short term tolling agreements gave each time to see how operations affect profitability at Calgary Centre. Calpine (CF.UN) has been a great buy since the low 7's a few months back, now in the low 10's still with almost a 10% yield, $13 target by Canaccord. The same analyst has a $32 target on Transalta. Calpine Power Income Fund Announces Further Short Term Tolling Agreement CALGARY, ALBERTA, Jun 26, 2006 (CCNMatthews) -- Calpine Power Income Fund (TSX:CF.UN) announces that its subsidiary, Calpine Power, L.P., has entered into a further short term agreement to toll the capacity from the Calgary Energy Centre with TransAlta Energy Marketing Corporation, a subsidiary of TransAlta Corporation, for a term commencing July 1, 2006 and ending August 31, 2006. This agreement replaces an earlier short term agreement which is due to end on June 30, 2006. "We are pleased to be able to enter into this further short term tolling agreement with TransAlta, which will provide continued tolling revenues to the Fund while the ongoing marketing process for a long term tolling agreement is concluded" said Toby Austin, President and CEO of Calpine Canada Power Ltd., the Manager of the Fund. Calpine Power Income Fund is an unincorporated open-ended trust that invests in electrical power assets. Calpine Power Income Fund indirectly owns interests in power generating facilities in British Columbia, Alberta and California, as well as a participating loan interest in a power plant in Ontario and a promissory note issued by Calpine Canada Power Ltd. The Calpine Power Income Fund units are listed on the Toronto Stock Exchange under the symbol CF.UN. SOURCE: Calpine Power Income Fund Toby Austin President and Chief Executive Officer [phone] Email: [e-mail] Website: www.calpinepif.com Copyright (C) 2006 CCNMatthews. All rights reserved.