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Related Party Transactions | 12 Months Ended
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Dec. 31, 2023
Related Party [Abstract] |
Related Party Transactions | Related-Party Transactions Details of the Company’s principal operating subsidiaries at Dec. 31, 2023, are as follows:
Subsidiary | Country | Ownership (per cent) | Principal activity
TransAlta Generation Partnership | Canada | 100 | Generation and sale of electricity
TransAlta Cogeneration, L.P. | Canada | 50.01 | Generation and sale of electricity
TransAlta Centralia Generation, LLC | US | 100 | Generation and sale of electricity
TransAlta Energy Marketing Corp. | Canada | 100 | Energy marketing
TransAlta Energy Marketing (U.S.), Inc. | US | 100 | Energy marketing
TransAlta Energy (Australia), Pty Ltd. | Australia | 100 | Generation and sale of electricity
TransAlta Renewables Inc. | Canada | 100(1) | Generation and sale of electricity
Associate or joint venture | Country | Ownership (per cent) | Principal activity
SP Skookumchuck Investment, LLC | US | 49 | Generation and sale of electricity
(1)On Oct. 5, 2023, the Company acquired all of the outstanding common shares of TransAlta Renewables not already owned, directly or indirectly, by TransAlta and certain of its affiliates. TransAlta Renewables at Dec. 31, 2023, is a wholly owned subsidiary of the Company (2022 – 60.1 per cent). Refer to Note 4 for more details. Transactions between the Company and its subsidiaries have been eliminated on consolidation and are not disclosed. Associates and joint ventures have been equity accounted for by the Company. A. Transactions with Key Management Personnel TransAlta’s key management personnel include the President and Chief Executive Officer ("CEO"), members of the senior management team that report directly to the President and CEO and the members of the Board. Key management personnel compensation is as follows:
Year ended Dec. 31 | 2023 | 2022 | 2021
Total compensation | 21 |  | 23 |  | 30 |
Comprised of: |  |  |
Short-term employee benefits | 11 |  | 11 |  | 14 |
Post-employment benefits | 1 |  | 1 |  | 1 |
Termination benefits | 1 |  | — |  | — |
Share-based payments | 8 |  | 11 |  | 15 |
B. Transactions with Associates In connection with the exchangeable securities issued to Brookfield, the Investment Agreement entitles Brookfield to nominate two directors to the TransAlta Board. This allows Brookfield to participate in the financial and operating policy decisions of the Company, and as such, they are considered associates of the Company. In addition to the exchangeable securities disclosed in Note 25, the Company may, in the normal course of operations, enter into transactions on market terms with associates that have been measured at exchange value and recognized in the Consolidated Financial Statements, including power purchase and sale agreements, derivative contracts and asset management fees. Transactions and balances between the Company and associates do not eliminate. Transactions with Brookfield include the following:
Year ended Dec. 31 | 2023 | 2022 | 2021 |
Power sales | 135 |  | 127 |  | 27 |  |
Purchased power | 2 |  | 12 |  | 3 |  |
Asset management fees paid | 1 |  | 2 |  | 2 |  |

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