AltaLink, L.P.

AltaLink, L.P.

May 04, 2009 16:30 ET

AltaLink Focuses on Reinforcing Its Transmission System in 2009

CALGARY, ALBERTA--(Marketwire - May 4, 2009) -


Alberta has grown at an exceptional rate and the transmission system needs to catch up - to bring new generation on the grid, to connect people and business to power and to bring economic opportunities to our province.

On March 10, 2009, AltaLink received approval to build and operate the Southwest 240 kV Project between Pincher Creek and Lethbridge.

"Our Southwest project will connect the growing amount of wind generation in the south to the rest of our province," said Scott Thon, AltaLink's President and Chief Executive Officer. "We know our customers want reliable power and want access to green energy. By building much-needed transmission infrastructure we're connecting Albertans to renewable sources of electricity to power their homes."

"Now more than ever we need to invest in building infrastructure, including transmission facilities, to plan for the future," said Mr. Thon. "A reinforced transmission grid will enable economic development in the province by giving people and businesses access to competitively priced power."

AltaLink, L.P. today reported its financial results for the first quarter ended March 31, 2009. The Partnership recorded net income of $12.1 million before tax for the quarter, compared to net income of $11.6 million before tax for the same period in 2008, primarily due to the settlement of land expropriated for the Edmonton ring road and an interim tariff revenue increase of three per cent, which are partially offset by higher operating expenses and depreciation. The net income reported above is pre-tax, and is not directly comparable with net income reported by companies that recognize tax expense in their financial statements.

Total revenue of $59.3 million increased by $1.7 million in the first quarter of 2009 compared to the same quarter in 2008. Transmission tariffs approved by the Alberta Utilities Commission increased by $1.3 million on an interim tariff increase of three per cent. Our 2009 tariff will not be finalized until the AUC renders its decisions on our General Tariff Application and the Generic Cost of Capital late in 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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