* Sees 2011 normalized shr C$1.20.
* Keephills 3 plant to come online in Q2
Jan 14 (Reuters) - Capital Power Corp (CPX.TO) said it expects 2011 earnings per share to be in line with that of last year, but based on a lower projected power price in Alberta, and that its Keephills 3 plant is expected to come online in the second quarter.
Alberta citizens are allowed to choose their electricity providers and rate plans, which impacts Capital Power's financial results.
For 2011, Capital Power expects normalized earnings per share of about C$1.20 ($1.21), based on a projected Alberta power price of about C$50 per MWh, up from the C$1.20 per share on an average C$55 per MWh forecast for 2010.
The Keephills 3 coal-fired plant, scheduled to come online by the end of the second quarter, is expected to boost cash flow but to be dilutive to earnings per share, Capital Power said.
The company's shares, which have risen 11 percent in the last year, were almost flat at C$23.88 on Friday morning on the Toronto Stock Exchange. ($1=.9888 Canadian Dollar) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Joyjeet Das) ((email@example.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: firstname.lastname@example.org))