Corporate Responsibility Report 2013

Economic Contributions

We support and hire locally

We want to contribute to the sustainability of the communities where we operate. In 2013, we spent $1,015 billion (2012 - $579 million) with our top 25 suppliers of goods and services. Of this amount, $163 million, or 16%, (2012 - $75 million or 13%) was defined as local spending, in which the shipping destination and supplier site were both in the same jurisdiction.

Local ranchers care for cattle that graze on Capital Power-owned land near the Genesee Generating Station in Alberta.

Contributing to the economy

Economic benefits from our business touch thousands of individuals and companies across North America and beyond, including equity and debt holders, local suppliers, governments, employees, energy producers, and investment banks.

The following interactive graphs paint a picture of the economic contributions made (and received) by Capital Power in 2013.

Local ranchers care for cattle that graze on Capital Power-owned land near the Genesee Generating Station in Alberta.

Cash Inflows and Outflows



$millions

2011

2012

2013
 
Cash Inflows:
Operating

Revenues

 1,911 1,197 1,416
Proceeds from sale of emission credits 20 42 43
Finance lease receipts - - 34
Income taxes recovered - - 17
Government assistance (1) 1 1 1
Total 1,932 1,240 1,511
Financing and Investing
Proceeds from issue of loans and borrowings 604 250 -
Proceeds from preferred  shares issued - 150 200
Proceeds from common shares issued 469 8 -
Proceeds from sale of assets 131 116 569
Interest received 2 7 3
Total 1,206 531 772
Cash Inflows to the company 3,138 1,771 2,283
 
Cash Outflows:
Payments for energy and fuel 980 560 593
Suppliers
Operating expenses 219 196 167
Invested in property, plant and equipment and other assets 438 563 917
Purchase of emission credits 21 35 22
Total 678 794 1,106
Community investment 1 1 1
Business acquisitions(2) 647 - -
Employee compensation and benefits(3) 155 143 149
Payments to governments
Income taxes 14 7 -
Property taxes 21 16 12
Total 35 23 12
Financing costs:
Repayment of long-term debt 293 62 155
Interest and financing charges 122 89 93
Debt issue costs 5 3 1
Total 420 154 249
Investors
Distributions to non-controlling interests 110 42 36
Dividends paid to common shareholders 51 62 62
Dividends paid to preferred shareholders 6 6 20
Preferred share dividends paid by subsidiary 11 - -
Share issue cost 20 5 6
Total 198 115 124
Foreign exchange and other 7 1 2
Cash Outflows to the company’s stakeholders 3,121 1,791 2,236

(1) We receive approximately $1 million per year from the Government of Canada through the Wind Power Production Incentive program, which was created to encourage the development of wind energy capacity. The incentive is approximately $0.01 per kilowatt hour of production from our Kingsbridge Wind Power Project. Eligible recipients can receive the incentive on the first 10 years of production.

(2) Business acquisitions net of acquired cash.

(3) Includes $17 million (2012 - $5 million) for share-based equity payments and other pension amounts.

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