AltaLink, L.P.

AltaLink, L.P.

May 04, 2007 16:30 ET

First Quarter Revenue Increases as AltaLink, L.P. Meets Alberta's Transmission Needs

CALGARY, ALBERTA--(CCNMatthews - May 4, 2007) -


AltaLink, L.P., Alberta's largest electricity transmission provider, today reported its financial results for the first quarter ended March 31, 2007. The Partnership recorded net income of $11.2 million before tax for the quarter, compared to net income of $11.0 million before tax for the same period in 2006.

During the first quarter of 2007, AltaLink received Alberta Energy and Utilities Board (EUB) Decision 2007-012 with the result that 2007 first quarter revenue includes revenue adjustments made necessary by the decision. Total revenue in the first quarter of 2007 increased to $53.9 million compared to $50.2 million for the same period in 2006. This increase facilitates the completion of forecasted transmission projects to enable Alberta's growth and maintain reliable transmission service.

"Meeting the transmission needs of Albertans remained the top priority for AltaLink in the first quarter of 2007," said Scott Thon, AltaLink President and Chief Executive Officer. "Decades of under investment in Alberta's transmission system have left our aging grid vulnerable in the face of our province's unprecedented growth. AltaLink will continue to respond by making the necessary investments in our system to ensure reliable electricity for Albertans."

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

AltaLink is currently participating in an EUB hearing reviewing AltaLink's permit and licence application for the Edmonton to Calgary 500 kV transmission development. The public hearing will determine the specific route for the approved 500 kV line.

"The completion of the 500 kV transmission line between the Edmonton and Calgary regions is critical to maintaining reliable electricity service in our province," said Mr. Thon. "We agree with the independent Alberta Electric System Operator that this line needs to be in service by the winter peak of 2009-2010 to ensure that more than one million people in central and southern Alberta can count on the lights to come on when they need it."

Delays in the permit and licence hearing put the project's 2009-2010 winter peak in-service date at risk. While AltaLink is protected against liability from outages, the Partnership remains concerned about its ability to provide continuous electricity service to southern Alberta through the 2009-2010 winter peak.

AltaLink, Canada's only fully independent transmission provider, is responsible for the maintenance and operation of more than 11,600 kilometres of transmission lines and approximately 260 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.

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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