AltaLink proposal to refund $230 million to Albertans approved

CALGARY, Alberta, March 23, 2021 (GLOBE NEWSWIRE) -- An AltaLink proposal to refund $230 million to Alberta customers was approved by the Alberta Utilities Commission (AUC), reducing AltaLink’s rates, which make up a portion of electricity bills, by more than 26 per cent for the remainder of 2021. With this approved proposal, AltaLink has now delivered close to $1.4 billion in rate levelization or rate reductions for Albertans since 2015.

“This is an outstanding result for our customers,” said Gary Hart, President and Chief Operating Officer. “We took the initiative to put millions of dollars back into the hands of Albertans and we certainly appreciate the 28 business groups and associations that supported us. The AUC agreed that the proposal was in the interest of Alberta ratepayers.”

The refund is the result of funds previously collected from customers in the form of Future Income Tax and a surplus in AltaLink’s depreciation fund. In its decision, the AUC approved a refund of $150 million of Future Income Tax and $80 million of previously accumulated depreciation costs.

“The Alberta Hotel & Lodging Association was a strong of supporter of AltaLink’s customer refund application,” said Dave Kaiser, President and Chief Executive Officer of the Alberta Hotel & Lodging Association. “The decision provides much needed cost relief to our members who operate hotels, motels, and resorts across Alberta and who are struggling to survive the economic impacts of COVID-19.”

Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider. AltaLink is partnering with its customers to provide innovative solutions to meet the province’s demand for reliable and affordable energy. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide.

For more information please contact:Scott SchreinerVice President, External EngagementAltaLink Management Ltd.Phone: 403.880.0275E-mail: [email protected]

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