May 4, 2011
Alberta’s electricity consumption increases during the first three months of 2011
Calgary, Alberta - AltaLink L.P. continues to deliver safe, reliable and efficient electric energy to satisfy Alberta's growing demand for energy and access to power generated from renewable energy. Alberta's electricity transmission grid delivered 19,106 gigawatt hours (GWh) of electricity to Albertans during the first three months of 2011, a 5.2 per cent increase compared to the same period in 2010. The 5.2 per cent increase is enough energy to power 527,000 households during the three-month period.
"Electricity consumption showed robust growth during the first quarter of 2011, a very positive sign of strength in Alberta's economy," says Scott Thon, AltaLink's President & Chief Executive Officer. "Through Alberta's ever changing and challenging weather this year, our system and the people supporting it have done a great job in keeping up with this increased demand. We will continue to invest in the maintenance, upgrading and expansion of our transmission assets to help ensure Albertans can count on our team to keep their lights on in the face of this continued pressure on the transmission grid."
As part of its obligation to deliver on the Alberta Electric System Operator's (AESO) plans to reinforce the transmission system, AltaLink continued consulting with stakeholders, landowners and municipal governments in meetings, open houses and individual conversations to determine and recommend the best routes for proposed transmission facilities. The Alberta Utilities Commission (AUC) held public hearings in March to review AltaLink's facilities application and recommended routes for the Cassils-Bowmanton-Whitla Project in southern Alberta. The AUC is holding hearings to review the Heartland Transmission Project in the Edmonton area during April and May. Hearings for the Western Alberta Transmission Line between Edmonton and Calgary are scheduled for September.
Today, AltaLink announced net income of $17.4 million for the first quarter of 2011 ending March 31, 2011, compared with $17.1 for the same period in 2010. As a partnership, AltaLink, L.P. reports its net income before income taxes; therefore its results are not directly comparable with net income reported by corporations that recognize income taxes in their financial statements.
AltaLink's full financial results and management's discussion and analysis can be found on AltaLink's website at www.altalink.ca or on SEDAR at www.sedar.com.
Headquartered in Calgary, AltaLink is Alberta's largest electricity transmission provider. The company is working with stakeholders to build more than 100 new transmission projects to meet the province's increasing demand for energy. These projects will provide Albertans with access to clean, renewable energy and the lowest-priced electricity available in the province.
This news release does not constitute an offer to sell or the solicitation of an offer to buy AltaLink's securities in any jurisdiction, including but not limited to, the United States. AltaLink's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward looking information that represents management of AltaLink's Internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of AltaLink. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, which may cause AltaLink's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward looking statements. These risks and uncertainties include, among other things, those described in AltaLink's filings with the Canadian securities authorities. Accordingly, holders of AltaLink securities and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. AltaLink disclaims any responsibility to update these forward looking statements.
For more information please contact:
Vice President, Treasurer
AltaLink Management Ltd.
E-mail: Chris [dot] Lomore [at] AltaLink [dot] ca
Manager, Corporate Communications
AltaLink Management Ltd.
E-mail: Dennis [dot] Floate [at] AltaLink [dot] ca