Capital Power Corporation and EPCOR Announce Completion of $230 Million Secondary Offering of Common Shares and Closing of Exercise of Over-Allotment Option

/NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

EDMONTON, April 5, 2012 /CNW/ - Capital Power Corporation (TSX: CPX) ("Capital Power") and EPCOR Utilities Inc. ("EPCOR") announced today that EPCOR has completed its sale of 9,775,000 common shares of Capital Power at an offering price of $23.55 per common share for aggregate gross proceeds to EPCOR of $230,201,250.  The aggregate offering is comprised of the previously announced offering of 8,500,000 shares at $23.55 per share for gross proceeds of approximately $200 million, together with the underwriters exercising the over-allotment option for the sale of an additional 1,275,000 shares at $23.55 per share for additional gross proceeds of approximately $30 million.  The underwriting syndicate for the offering was co-led by TD Securities Inc. and BMO Capital Markets as bookrunners.

Following completion of the offering, EPCOR indirectly owns approximately 29% of the common shares of Capital Power on a fully diluted basis.  EPCOR intends to sell all or a portion of this remaining interest as its demands for capital require and market conditions permit.

Forward-Looking Information
Certain information in this news release relating to EPCOR is forward-looking and related to anticipated events and strategies. When used in this context, words such as "will", "anticipate", "believe", "plan", "intend", "target" and "expect" or similar words suggest future outcomes. By their nature, such statements are subject to significant risks and uncertainties, which include, but are not limited to, regulatory and government decisions, economic conditions, and availability and cost of financing.

Readers are cautioned not to place undue reliance on forward-looking statements as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements. Except as required by law, EPCOR disclaims any intention and assumes no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

About Capital Power Corporation
Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. Capital Power owns more than 3,300 megawatts of power generation capacity at 16 facilities across North America. An additional 487 megawatts of owned wind generation capacity is under construction or in advanced development in British Columbia, Alberta, and Ontario.

About EPCOR Utilities Inc.
EPCOR's wholly-owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. EPCOR, headquartered in Edmonton, Alberta, is an Alberta Top 55 employer. EPCOR's website is www.epcor.com.

For further information:

Capital Power
Media inquiries:    Michael Sheehan [phone]
Investor and Analyst inquiries:  Randy Mah [phone] or [phone] (toll-free)

EPCOR
Media inquiries:    Tim le Riche [phone]
Corporate relations:   Claudio Pucci [phone] or [phone] (toll-free)