Calgary, Canada
Calgary, Canada

AltaLink, L.P. is one of Canada's largest transmission companies. Based in Alberta, AltaLink is responsible for the maintenance and operation of approximately 12,000 kilometres of transmission lines and 280 substations in Alberta. AltaLink is a fully owned subsidiary of Berkshire Hathaway Energy. Wikipedia.

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News Article | April 18, 2017
Site: www.techrepublic.com

It's not uncommon to see Xerox characterized as a company past its prime, as a survivor from a bygone era that's been left behind by the modern world. Revenues at the print services company have been steadily declining for years, dropping by about 6% in 2016—partly a reflection of the shrinking demand for the printed page in an era of internet-connected phones and tablets. Yet Xerox remains an $11bn company, which enjoys gross margins of 40 percent and has cut annual costs by more than $300m, as part of an ongoing strategic transformation program. And company CEO Jeff Jacobson acknowledges that Xerox needs to change tack, to refocus its efforts on areas in print where demand is growing, not falling. "The industry is declining and if you were to look at the top six people in the industry, they're probably declining from three to five percent and our declines have been in line with that," he said. "Part of the reason we're introducing this new strategy is to reverse the revenue trajectory of our business, to minimize the declines, to generate more cash flow, and be able to reinvest back into the business in innovation and in technology." SEE: Your life in AI's hands: The battle to understand deep learning As part of its strategy to carve out a more promising future, Xerox has just staged the largest product launch in its 110-year history, releasing 29 multi-function printers under its AltaLink and VersaLink brands. "Let's say a little under 40 percent of our revenues are in the growth markets," says Jacobson. "What our goal is by the year 2020, is to have at least 50 percent of our revenue in those growth markets—A4 multifunction devices, production color, managed print services and to generate more share in the SMB market," he said. Aware that Xerox will need to significantly pivot its business in the long run, the company is specializing in the emerging technologies it sees as a natural fit for its core competencies. Somewhat surprisingly, given the hype, 3D printing isn't a high priority. "At this point we're not sure that we will go heavily into 3D printing," said Jacobson, describing it as "an area that is in the very early stages". Xerox is looking to get in on the ground floor in other newer print technologies, such printing directly on objects. "One of the technologies we're just introducing now is the direct-to-object printer. So you can basically take any object you want, put it into the device and it'll print on plastics, it'll print on fabrics, it'll print on baseball caps, golf balls, thermoses, coffee mugs, books, whatever you want," he said. Xerox's direct-to-object printing is already being tested by customers in the UK, although Jacobson says the technology is still at "very early stages". Another new area that Xerox is already experimenting with is printed electronics, for example, smart labels for packaging that can help tracking a package or offer information about a product, such as whether food produce has spoiled. "We're in the very early stages, but that's where we're placing our bets right now," he said, saying the technology will play a role in the accelerating the Internet of Things, particularly in embedding compute, storage and sensors into 3D printed objects. To an extent, Xerox is now freer to pursue research directly related to print than it previously was, having recently completed the spinoff of its business services unit Conduent. The split into business services-focused Conduent, much of which originated from Xerox's acquisition of Affiliated Computer Services (ACS) for $6.4bn in 2010, and the print-focused Xerox will allow each to pursue their very different markets, according to Jacobson. "There really weren't a lot of synergies. We believe that separating the two companies and having Conduent focus on its own business and having the new Xerox focus on its business, would be best for both companies and therefore best for the shareholders," he said, adding that Xerox is now pursuing R&D in areas related to automation, workflow and content management, graphic communications, analytics and printing. Robert Palmer, research director with IDC's imaging, printing and document solutions group, said, in the short term, it makes sense for Xerox to target a broader range of print customers, such as SMBs, but added the firm will face competition from market incumbents. "Xerox is making significant investments in technology and support infrastructure to expand deeper into the SMB market, particularly in the A4 business where it currently holds single-digit share. "The strategy is sound but success will depend upon Xerox's ability to take share from competitors that are already entrenched." However, modest changes of focus will also only take Xerox so far, and will need to be the first step in a more profound transformation of the business, according to Holly Muscolino, research VP for content technologies and document workflow at IDC. "All of these strategies are short term (mid-term at best) as they all increase share of a declining market. Market share is simply shifting around between the players - there is no net growth," she said. "As a next step, Xerox must diversify into adjacent new markets. They must help organizations transform their document strategies, contribute to overall business transformation and deliver innovative solutions that can offer independence from the declining printing equipment market." One note of consolation for Xerox is that most offices are still awash with paper, and are likely to remain so for some time. While acknowledging that demand for paper printing is in decline, Jacobson is skeptical that the paperless office, whose arrival has been forecast for decades, will become a reality for most businesses anytime soon. "I think it has a long, long, long tail," he said, pointing out that technologies such as offset printing have endured for more than 100 years after their invention.


News Article | July 27, 2017
Site: www.prnewswire.com

Efficient Forms provides human capital management (HCM) software and tax credit processing. With over 2,000 end-customers and 1.7 million employees onboarded, the Company's SaaS platform provides employers feature rich solutions for applicant tracking, employee onboarding, Form I9 and E-Verify compliance, Work Opportunity Tax Credit (WOTC) processing, and ACA compliance.  Its growing customer base spans across industries including quick-serve restaurants, call centers, staffing firms, retail, convenience stores, and payroll service bureaus.  Founded in 2004, Efficient Forms has a legacy of innovation and industry-leading customer service. In conjunction with the transaction, founder David Kenney will continue as President of the Company and Mike Robertson will become Chief Executive Officer. "Efficient Forms is excited to have AltaLink on board." said David Kenney, "Working with AltaLink will allow us to quickly bring our Efficient WOTC and Efficient Hire solutions out to more clients and markets, while still delivering the same world class service our customers have become accustomed to." "I am excited to join Efficient Forms, a Company with a distinct track record of growth and product-market fit.  Efficient Forms' innovative approach to both its technology platform and its go-to-market strategy, set it apart as a leader in HR technology and services for the robust hourly workplace," said Mike Robertson. Efficient Forms is one of the largest independent WOTC processors in the country. Efficient Forms designs and develops cloud based data collection automation software which integrates into a company's human resource and hiring process. It serves customers in the restaurant, staffing, retail, call center, and convenience store industries.  The Company's flagship SaaS platform, Efficient Hire (EHX), delivers applicant tracking, onboarding, Form I9 and E-Verify, Work Opportunity Tax Credit (WOTC) processing, and ACA compliance.  Founded in 2004, Efficient Forms has built a core base of 2,000 end-customers. For more, information, please visit www.efficienthire.com. AltaLink Capital is a leading, entrepreneurial investment firm focused on investing in and growing a single business.  AltaLink focuses on software and technology-enabled business services companies.  It aims to partner with founders and owners to monetize the value they have created and also provide executive management.  AltaLink seeks to distinguish owners' operating legacy by providing a bridge to the company's next phase of growth and leadership.  AltaLink targets profitable and growing, recurring revenue businesses and provides capital for liquidity, growth, and acquisitions. For more information, please visit www.altalinkcapital.com.


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, Aug. 04, 2017 (GLOBE NEWSWIRE) -- An application to own transmission facilities by two separate financial partnerships between AltaLink and each of the Kainai and Piikani First Nations in southern Alberta will deliver benefits to AltaLink’s customers and to the members of each First Nation. During the second quarter of 2017, AltaLink filed an application with the Alberta Utilities Commission (AUC) that will allow the Kainai and Piikani First Nations to acquire a financial position in the Southwest 240 kV transmission line, which crosses their lands. “During the development of this project, we reached important partnership agreements with each of the Kainai and Piikani First Nations to allow this line to cross their land,” said Scott Thon, AltaLink President & Chief Executive Officer. “As a result, we were able to shorten the overall length of the line and save millions of dollars for Alberta customers when compared to alternate routes while creating decades of financial benefits for each First Nation.” Energized in 2010, the Southwest 240 kV transmission project was the first reinforcement of the transmission system designed to support Alberta’s growing wind generation capacity. The First Nation applications need to be approved by the AUC. If approved, they will provide long-term stable, regulated revenue to the First Nations. AltaLink will continue to operate and maintain the transmission facilities. AltaLink continues to invest in transmission facilities to ensure the reliability of the electricity grid and to help enable Alberta’s transition to a greener energy future. During the second quarter of 2017, AltaLink invested $101.1 million into its transmission system. Today, AltaLink, L.P. announced net and comprehensive income of $80.8 million for the quarter ended June 30, 2017, consistent with $80.5 million during the same time period in 2016. The slight increase was primarily due to an increased equity return from our investment in electricity transmission infrastructure, partially offset by the impact of one-time regulatory adjustments booked in the second quarter of 2016. Revenue from operations for the second quarter of 2017 was $230.0 million compared to $239.9 million during the same period in 2016. Compared to the same period in 2016, revenue from operations decreased by $9.9 million for the three months ended June 30, 2017. The change is primarily due to the adjustments recognized in revenue during the second quarter of 2016 offset by the amounts we invested in capital assets in prior years in relation to regulatory decisions issued by the AUC. 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, 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. During the three months ended June 30, 2017: 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", "intends", "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.


CALGARY, Alberta, May 08, 2017 (GLOBE NEWSWIRE) -- During the first three months of 2017, AltaLink and its customers reached a first-of-its-kind settlement, which if approved by the Alberta Utilities Commission (AUC) will save Albertans up to $150 million in 2017 and 2018. “We have made a commitment to our customers to find new ways to reduce costs without impacting the reliability of the system,” said Scott Thon, AltaLink President & Chief Executive Officer. “With this recent negotiated settlement and our previously approved rate relief proposal, we will save our customers – the ratepayers of Alberta – up to $750 million between 2015 and 2018 and provide opportunities for future savings.” Introduced in its last rate application, AltaLink’s rate relief proposal reduced its tariff by $600 million over the 2015-2018 time period. With up to $150 million in cost reductions as part of the negotiated settlement combined with AltaLink’s rate relief proposal, customers will benefit from up to $750 in total savings over four years. Today, AltaLink, L.P. announced net income for the quarter ended March 31, 2017, was $83.1 million, compared to $67.7 million during the first three months of 2016. Compared to the same period in 2016, our comprehensive income for the three months ended March 31, 2017 increased by $15.4 million, primarily due to an increased return from our investment in electricity transmission infrastructure. Operating revenue for the first quarter of 2017 was $237.6 million compared to $218.4 million during the same period in 2016. Compared to the same period in 2016, our revenue from operations increased by $19.2 million for the three months ended March 31, 2017. The change is primarily due to the amounts we invested in capital assets. 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, 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. During the three months ended March 31, 2017: 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", "intends", "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.


CALGARY, Alberta, May 08, 2017 (GLOBE NEWSWIRE) -- During the first three months of 2017, AltaLink and its customers reached a first-of-its-kind settlement, which if approved by the Alberta Utilities Commission (AUC) will save Albertans up to $150 million in 2017 and 2018. “We have made a commitment to our customers to find new ways to reduce costs without impacting the reliability of the system,” said Scott Thon, AltaLink President & Chief Executive Officer. “With this recent negotiated settlement and our previously approved rate relief proposal, we will save our customers – the ratepayers of Alberta – up to $750 million between 2015 and 2018 and provide opportunities for future savings.” Introduced in its last rate application, AltaLink’s rate relief proposal reduced its tariff by $600 million over the 2015-2018 time period. With up to $150 million in cost reductions as part of the negotiated settlement combined with AltaLink’s rate relief proposal, customers will benefit from up to $750 in total savings over four years. Today, AltaLink, L.P. announced net income for the quarter ended March 31, 2017, was $83.1 million, compared to $67.7 million during the first three months of 2016. Compared to the same period in 2016, our comprehensive income for the three months ended March 31, 2017 increased by $15.4 million, primarily due to an increased return from our investment in electricity transmission infrastructure. Operating revenue for the first quarter of 2017 was $237.6 million compared to $218.4 million during the same period in 2016. Compared to the same period in 2016, our revenue from operations increased by $19.2 million for the three months ended March 31, 2017. The change is primarily due to the amounts we invested in capital assets. 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, 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. During the three months ended March 31, 2017: 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", "intends", "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.


CALGARY, Alberta, May 08, 2017 (GLOBE NEWSWIRE) -- During the first three months of 2017, AltaLink and its customers reached a first-of-its-kind settlement, which if approved by the Alberta Utilities Commission (AUC) will save Albertans up to $150 million in 2017 and 2018. “We have made a commitment to our customers to find new ways to reduce costs without impacting the reliability of the system,” said Scott Thon, AltaLink President & Chief Executive Officer. “With this recent negotiated settlement and our previously approved rate relief proposal, we will save our customers – the ratepayers of Alberta – up to $750 million between 2015 and 2018 and provide opportunities for future savings.” Introduced in its last rate application, AltaLink’s rate relief proposal reduced its tariff by $600 million over the 2015-2018 time period. With up to $150 million in cost reductions as part of the negotiated settlement combined with AltaLink’s rate relief proposal, customers will benefit from up to $750 in total savings over four years. Today, AltaLink, L.P. announced net income for the quarter ended March 31, 2017, was $83.1 million, compared to $67.7 million during the first three months of 2016. Compared to the same period in 2016, our comprehensive income for the three months ended March 31, 2017 increased by $15.4 million, primarily due to an increased return from our investment in electricity transmission infrastructure. Operating revenue for the first quarter of 2017 was $237.6 million compared to $218.4 million during the same period in 2016. Compared to the same period in 2016, our revenue from operations increased by $19.2 million for the three months ended March 31, 2017. The change is primarily due to the amounts we invested in capital assets. 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, 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. During the three months ended March 31, 2017: 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", "intends", "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.


CALGARY, Alberta, May 08, 2017 (GLOBE NEWSWIRE) -- During the first three months of 2017, AltaLink and its customers reached a first-of-its-kind settlement, which if approved by the Alberta Utilities Commission (AUC) will save Albertans up to $150 million in 2017 and 2018. “We have made a commitment to our customers to find new ways to reduce costs without impacting the reliability of the system,” said Scott Thon, AltaLink President & Chief Executive Officer. “With this recent negotiated settlement and our previously approved rate relief proposal, we will save our customers – the ratepayers of Alberta – up to $750 million between 2015 and 2018 and provide opportunities for future savings.” Introduced in its last rate application, AltaLink’s rate relief proposal reduced its tariff by $600 million over the 2015-2018 time period. With up to $150 million in cost reductions as part of the negotiated settlement combined with AltaLink’s rate relief proposal, customers will benefit from up to $750 in total savings over four years. Today, AltaLink, L.P. announced net income for the quarter ended March 31, 2017, was $83.1 million, compared to $67.7 million during the first three months of 2016. Compared to the same period in 2016, our comprehensive income for the three months ended March 31, 2017 increased by $15.4 million, primarily due to an increased return from our investment in electricity transmission infrastructure. Operating revenue for the first quarter of 2017 was $237.6 million compared to $218.4 million during the same period in 2016. Compared to the same period in 2016, our revenue from operations increased by $19.2 million for the three months ended March 31, 2017. The change is primarily due to the amounts we invested in capital assets. 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, 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. During the three months ended March 31, 2017: 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", "intends", "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.


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW AltaLink and the customer groups representing Alberta's industrial and residential electricity consumers have reached an agreement that, if approved, will save Albertans up to $150 million in 2017 and 2018. The agreement also includes a commitment to reduce future capital costs by $40 million. The Alberta Utilities Commission (AUC) must approve the negotiated agreement. "I want to thank the negotiating teams from all customer groups. Together with them, we have reached an agreement that will keep more money in the hands of our customers," said Scott Thon, President and Chief Executive Officer of AltaLink. "This is part of our commitment to reducing costs for our customers, especially as Alberta's economy continues to recover." The agreement will deliver electricity cost savings to all Alberta customers. "As a consumer group representing some of Alberta's largest industrial power users, the ADC positively views the agreement as a demonstration that AltaLink and intervener groups share a common goal of reducing electricity costs for Albertans," said Colette Chekerda, Executive Director of the Alberta Direct Connect Consumer Association. "The agreement provides for material cost reductions and incentives for AltaLink to continue seeking efficiencies and further cost savings. Control of transmission costs is especially important when so many Alberta businesses and residents continue to struggle in our current economy." "Industrial consumers are pleased that we were able to negotiate a settlement, and in the process save a further $2 million in regulatory costs," said Vittoria Bellissimo, Executive Director of the Industrial Power Consumers Coalition of Alberta. "There are also cost savings measures in this settlement that would likely never have been on the table in the conventional process. Consumers are looking forward to seeing positive results from these measures." The agreement includes a reduction of $15.5 million in operating costs and $5 million in other cost savings during the next two years. If AltaLink is able to achieve additional operating cost savings beyond the $15.5 million, those savings would be shared equally between AltaLink and its customers. An additional $130 million in savings is driven from previously-funded depreciation costs. Through engineering studies, AltaLink determined that it can extend the life of its transmission lines, reducing the annual cost to Albertans. Depreciation already collected under the previous calculation would then be refunded to customers. "This is truly a win-win for AltaLink and our customers, the electricity ratepayers of Alberta," said Thon. "We're grateful for the opportunity to work with our customers to reach a mutually beneficial agreement that will reduce electricity costs for every Albertan." On Wednesday, February 8, AltaLink submitted the agreement to the AUC for approval. If approved, these savings would be in place for the 2017 and 2018 calendar years. 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.


News Article | February 27, 2017
Site: www.marketwired.com

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW Delivering improved reliability and safety results for customers while reducing costs by hundreds of millions of dollars highlighted AltaLink's 2016 results. "During 2016, AltaLink was clearly focused on improving our system reliability while continuing to identify opportunities to reduce costs for our customers," said Scott Thon, AltaLink President & Chief Executive Officer. "The result was fewer and significantly shorter outages for our customers than in 2015. This operational performance combined with the approval of our customer rate relief proposal that saves Albertans almost $600 million by the end of 2018, shows that our team is committed to delivering the results our customers need." Operating Alberta's largest transmission system, AltaLink reduced the average length of outages by 35% and reduced the number of outages by 13% over 2015 results. Improvements in customer restoration practices have driven the improved results without increasing cost to customers. AltaLink's reliability performance is in the top quartile among its Canadian peers. AltaLink's proposal to reduce its cost to customers was approved by the Alberta Utilities Commission (AUC) in May. The decision resulted in almost 25% lower rates for customers in both 2015 and 2016. Albertans will save a further $91 million in both 2017 and 2018 for a total reduction of $600 million over four years. "As Alberta's economy recovers and we transition to more renewable energy sources, the transmission system will play a key role in delivering the lowest-cost energy to Alberta's homes, farms, businesses, and industries," said Scott Thon. Today, AltaLink, L.P. announced net income for the year ended December 31, 2016, was $306.0 million. During 2015, AltaLink earned $209.3 million of net income. Revenue for the year ended 2016 was $977.9 million compared to $829.1 million during 2015. Our comprehensive income for the year ended December 31, 2016 increased by $97.7 million, respectively, compared to 2015, primarily due to the negative impact of the AUC's (Alberta Utilities Commission) Generic Cost of Capital (GCOC) decision related to 2014 and 2013 ($27.2 million) recorded in 2015, combined with an increased return from our investment in electricity transmission infrastructure and adjustments in 2016 in relation to the 2015-2016 General Tariff Application, 2012-2013 Direct Assign Capital Deferral Account, and 2016 GCOC decisions issued by the AUC. 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, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta's largest electricity transmission provider. AltaLink is committed to 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. 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", "intends", "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.


News Article | November 4, 2016
Site: www.marketwired.com

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW Through the first nine months of 2016, AltaLink has reduced the length of outages by almost one-third over 2015 results. "Making sure energy is there when needed is the most important way we deliver value to our customers," said Scott Thon, AltaLink President & CEO. "This year, through a number of new restoration strategies, we have made a significant improvement in how fast we're able to get the lights back on without increasing costs to our customers." The average AltaLink customer outage duration during the past 12 months has been reduced by 30 per cent from the previous year, driven largely by restoring power remotely from our control centre or through our field responders. These approaches to restoring energy supply improve the overall reliability of the system and help shorten the length of outages, reducing costly downtime for our customers. It also ensures AltaLink crews can safely perform any maintenance or repairs to damaged equipment. The frequency of outages on AltaLink's system has also been reduced 15 per cent over 2015 levels. "We're focused on continuing to improve our service without increasing costs so that reliable, affordable power is always there when you need it," said Thon. "Whether it's homes, farms, businesses or industrial sites, the one constant needs to be cost-effective reliability of the electricity that powers our lives." Today, AltaLink, L.P. announced comprehensive income for the third quarter of 2016 was $78.7 million. During the same three month period in 2015, AltaLink earned $61.5 million of comprehensive income. Revenue for the third quarter of 2016 was $244.1 million compared to $224.0 million during the same period in 2015. Compared to the same periods in 2015, our comprehensive income for the nine months ended September 30, 2016 increased mainly due to the negative impact of the Alberta Utilities Commission's (AUC) Generic Cost of Capital (GCOC) decision related to 2014 and 2013 ($27.2 million) recorded in the first quarter of 2015, combined with an increased return from our investment in electricity transmission infrastructure. 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, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta's largest electricity transmission provider. We are committed to meeting the province's demand for electricity, providing innovative solutions, and partnering with our stakeholders and communities in doing so. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering electricity and utility services to customers worldwide. During the three months ended September 30, 2016: 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", "intends", "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.

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