Despite excellent availability, our wind resources in the quarter were down approximately 30% compared to what we would see in a normal year. As a result, expected production from our wind facilities was lower by roughly 200 gig watt hours. This phenomenon is consistent with the effects of El Nino, which typically only impact the first two to three months of the year, and we have already seen wind resources pickup throughout April. Past years have shown recovery of wind volumes in subsequent months and in our El Nino year.Finally, looking at energy trading, gross margins for the quarter were $14 million, only slightly below the $15 million achieved last year. Overall, we’re off to a good start to the year. Before we provide an update on what to expect for the balance of the year, and commenting on our MOU with the State of Washington, I’ll turn the call over to Brian Burden.
TransAlta Corporation Q1 2010 Earnings Call Transcript
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