Prospectus excerpt:  This short form prospectus qualifies the distribution (the Offering) of 4,800,000 Cumulative Rate Reset Preferred Shares, Series A (the "Series A Shares") of Algonquin Power & Utilities Corp. ("Algonquin" or the "Corporation") at a price of $25.00 per Series A Share (the "Offering Price"). For the intitial six year period from and including the closing date (as defined below) to, but excluding December 31, 2018 (the "Initial Fixed Period"), the holders of Series A Shares will be entitled to receive fixed cumulative preferential cash dividends, as and when declared by the board of directors of the Corporation (the "Board of Directors"), payable quarterly on the last business day of March, June, September and December in each year at an annual rate equal to $1.1250 per Series A Share. The initial dividend, if declared, will be payable December 31, 2012 and will be $0.1603 per Series A Share, based on the anticipated closing date of November 9, 2012 (the "Closing Date"). See "Details of the Offering".