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AltaLink proposes to refund $350 million to customers over three years

CALGARY, Alberta, Jan. 18, 2021 (GLOBE NEWSWIRE) -- AltaLink has submitted a proposal to the Alberta Utilities Commission to refund an additional $350 million to Alberta electricity customers between 2021 and 2023. When combined with AltaLink’s previous rate levelization initiatives, the refund will reduce AltaLink’s portion of each Albertan’s electricity bill by an average of 11 per cent per year over the three-year timeframe.

“Beginning in 2018, AltaLink committed to find ways to freeze its rates to electricity customers for five years and we found ways to deliver more than $1 billion in savings to our customers,” said Gary Hart, President and Chief Operating Officer of AltaLink. “With this additional $350 million refund, we have moved beyond our commitment of freezing our rates to reducing them by an average of more than ten per cent per year for the next three years.”

As Albertans continue to navigate the economy brought on by the COVID-19 pandemic and low energy prices, AltaLink is proud to do its part by providing the additional much-needed financial relief to its customers.

“I am pleased to see an Alberta-based company looking for ways to support our communities through these difficult times. Our government is committed to working with AltaLink and other providers to pursue opportunities to protect customers and reduce the cost of energy delivery for Albertans,” Dale Nally, Associate Minister of Natural Gas and Electricity.

Businesses across Alberta support AltaLink’s proposal.

“Alberta’s job creators continue to face rising costs of doing business, particularly given the ongoing COVID-19 pandemic and energy price collapse. In recent Alberta Perspectives market research, electricity costs have been among the top concerns for the business community. AltaLink’s proposed refund initiative would provide much-needed relief to the struggling local businesses that play a significant role in our communities,” said Alberta Chambers of Commerce President and CEO Ken Kobly.

The proposal must be approved by the Alberta Utilities Commission.

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 Schreiner
Vice President, Communications
AltaLink Management Ltd.
Phone: 403.880.0275

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