AltaLink, L.P.

AltaLink, L.P.

October 30, 2009 16:30 ET

Altalink, L.P.: Facts About Reliability and Consumer Costs Regarding Alberta's Electricity Future

CALGARY, ALBERTA--(Marketwire - Oct. 30, 2009) -


AltaLink manages Alberta's largest electricity transmission system serving 85 per cent of the province's population. It's been more than 30 years since our province has completed any major upgrades to the transmission system in Alberta. Over those 30 years, Alberta has grown by more than a million people and the demand for power has doubled.

"We need transmission now to ensure we can keep the lights on," said Scott Thon, AltaLink's President and Chief Executive Officer. "Upgrading our transmission system is also critical to ensuring all Albertans have access to the cheapest and greenest power possible."

Improving Alberta's transmission system is key to providing reliable power at an affordable price to consumers and businesses. Expanding our transmission system enables a competitive generation market by connecting all generation sources - allowing all consumers access to lower cost sources of generation. Transmission is also required to connect the thousands of new wind turbines, on hold and move this green power from where it's produced to consumers' homes and businesses. Relying on one source of local generation instead of beefing up our transmission infrastructure means that we deny the ability for all sources of generation to come to market and puts reliability at risk.

"An effective transmission system is valuable to Albertans," says Thon. "It improves reliability, reduces wasted energy and provides access to the lowest cost power. In fact, AltaLink's Western Alberta Transmission Line between Edmonton and Calgary will pay for itself through direct savings resulting from lower line losses and reducing our reliance on more expensive generation. Most importantly transmission ensures consumers have power when they need it and allows Albertans access to the greenest and cheapest power."

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AltaLink, L.P. today reported its financial results for the third quarter ended September 30, 2009. The Partnership earned a net income of $34.9 million for the year-to-date, an increase of $2.6 million over the corresponding period in 2008 primarily due to $3.8 million of gains on disposals of assets. For the quarter, net income of $9.8 million was $1.2 million lower than last year. Excluding the gains on disposals of assets, net income decreased primarily because expenses increased more than revenues. Revenues for the periods ending September 30, 2009 are based on an interim tariff and do not reflect the Alberta Utilities Commission's decision (released in October 2009) on the Partnership's 2009-10 General Tariff Application. The net income reported above is pre-tax, and is not directly comparable with net income reported by companies that recognize tax expenses in their financial statements.

Although the AUC issued Decision 2009 - 151 regarding AltaLink's General Tariff Application on October 2, 2009, the financial impact of that decision has not been reflected in the financial statements for the third quarter. AltaLink expects that the AUC will issue its decision regarding the 2009 Generic Cost of Capital proceeding in the fourth quarter. AltaLink will reflect the financial impact of those two decisions for the year ending December 31, 2009.

AltaLink's full financial results and management's discussion and analysis can be found on AltaLink's website at or on SEDAR at .

AltaLink, Canada's only fully independent transmission provider, is responsible for the maintenance and operation of more than 11,800 kilometres of transmission lines and approximately 270 substations in Alberta. As Alberta's largest supplier of safe and reliable transmission, AltaLink is moving forward to provide a transmission system that will continue to meet the growing needs of Albertans. AltaLink has been a proud supporter of Alberta 4-H since 2003, and as a Legacy Builder it is the title sponsor of all regional, district and provincial communications and public speaking programs.

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.

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