TPZ Tortoise Power and Energy Infrastructure Fund Inc

This notice provides stockholders of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) with information regarding the distribution paid on Dec. 31, 2014 and cumulative distributions paid fiscal year-to-date.

The following table sets forth the estimated amounts of the current distribution, payable Dec. 31, 2014, and the cumulative distributions paid this fiscal year-to-date from the following sources: net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. All amounts are expressed per common share.

           

Estimated Sources of Distributions

($) CurrentDistribution

   

% Breakdownof the CurrentDistribution

($) Total CumulativeDistributions for theFiscal Year to Date

% Breakdown of theTotal CumulativeDistributions for theFiscal Year to Date

Net Investment Income 0.067 5 % 0.067 5 % Net Realized Short-Term Capital Gains 0.000 0 % 0.000 0 % Net Realized Long-Term Capital Gains 1.308 95 % 1.308 95 % Return of Capital 0.000 0 % 0.000 0 % Total (per common share) 1.375 100 % 1.375 100 %      

Average annual total return (in relation to NAV) for the 5 years ending on 11/30/2014

15.42

%

Annualized current distribution rate expressed as a percentage of NAV as of 11/30/2014

4.83

%  

Cumulative total return (in relation to NAV) for the fiscal year through 11/30/2014

16.84

%

Cumulative fiscal year distributions as a percentage of NAV as of 11/30/2014

4.42

%  

You should not draw any conclusions about TPZ's investment performance from the amount of this distribution or from the terms of TPZ's distribution policy.

The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TPZ's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

IMPORTANT NOTICE OF CORRECTION TO PRIOR SECTION 19 NOTICES

The average annual returns (in relation to NAV) for the five-year period ending July 31, 2014, August 31, 2014 and September 30, 2014 were shown as 29.96%, 32.62% and 30.50%, respectively, in previously distributed Section 19 Notices for such distributions. Such prior Section 19 Notices are revised and corrected as follows:

       

Section 19 Notice

   

Period End

   

5-year Average Annual Return (In Relation to NAV)

August 2014     July 31, 2014     17.03% September 2014     August 31, 2014     18.46% October 2014     September 30, 2014     17.32%  

About Tortoise Power and Energy Infrastructure Fund, Inc.

Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) invests in a portfolio of fixed income and equity securities issued by power and energy infrastructure companies. TPZ’s objective is to provide stockholders a high level of current income, with a secondary objective of capital appreciation.

About Tortoise Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing in listed energy investments. As of Nov. 30, 2014, the adviser had approximately $17.7 billion of assets under management in NYSE-listed closed-end funds, open-end funds, private funds and separate accounts. For more information, visit www.tortoiseadvisors.com.

Safe harbor statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Forward-looking statement

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the company and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the company and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.

Tortoise Capital Advisors, L.L.C.Pam Kearney, 866-362-9331Investor Relationspkearney@tortoiseadvisors.com