July 27, 2011 / 10:29 PM / 7 years ago

UPDATE 1-Capital Power Q2 loss widens

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July 27 (Reuters) - North American independent power producer Capital Power Corp reported a wider second-quarter loss, hurt mainly by lower margins.

Net loss for the quarter was C$25 million, or 67 Canadian cents a share, compared with C$8 million, or 37 Canadian cents a share, a year ago.

Excluding items, it earned 7 Canadian cents a share.

Revenue for the company, which currently has power generation capacity of about 4,362 megawatts, rose 36 percent to C$472 million, helped by recent acquisitions.

The company said its Alberta commercial plants and portfolio optimization segment were hurt by lower realized margins due to a lower-than-expected average power spot price in the quarter.

Edmonton, Alberta-based Capital Power’s shares closed at C$25.27 on Wednesday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Roshni Menon)

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