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durban1

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TransCanada says Bruce Power's force majeure claim accepted

posted on Aug 11, 2012 01:25PM

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(Reuters) - Canada's largest pipeline company TransCanada Corp (Toronto:TRP.TO - News) said its subsidiary Bruce Power's force majeure claim to the Ontario Power Authority related to one of its operating units has been accepted.

Bruce Power submitted the request in June as a result of an event that delayed the startup of Unit 2 at its Bruce A generating station.

Force majeure is a contract clause that allows a company to miss shipments or obligations due to circumstances beyond its control.

With the acceptance of the claim, Bruce Power will continue to receive the contracted price for power generated from the operating units at Bruce A after July 1, 2012, TransCanada said.

Bruce Power is owned by TransCanada Corp and Canadian uranium miner Cameco Corp (Toronto:CCO.TO - News), and others.