Calgary, Alberta – AltaLink L.P., Alberta’s largest electricity transmission company, stepped up its efforts in 2010 to improve system reliability by building and energizing new projects, reinforcing existing transmission facilities and responding to increased demand from Albertans for wind generated electricity.
“2010 was a solid year on many fronts for AltaLink, ranging from responding to April storms that damaged a significant area of the grid to investing in the reliability of our transmission services,” said Scott Thon, AltaLink’s President & Chief Executive Officer. “We were also very busy consulting with almost 10,000 Albertans, seeking their input on the lowest overall impact locations for new transmission lines and how to best renew an overworked electrical grid. As Albertans turn to green power to meet their energy needs we see an increased need to build transmission facilities to deliver wind power to the market.”
During the year, the company energized its Southwest 240 kV line which runs between Pincher Creek and Lethbridge. The line strengthens the existing transmission system and opens up 1,000 megawatts of new wind-generated electricity, giving Albertans access to more renewable energy.
As part of its obligation to deliver on the Alberta Electric System Operator’s plans to reinforce the transmission system, AltaLink met with stakeholders, landowners and local government representatives in dozens of meetings, open houses and thousands of individual conversations. The Alberta Utilities Commission will oversee public hearings to review AltaLink’s facilities applications for the Cassils-Bowmanton-Whitla Project in southern Alberta, the Heartland Project in the Edmonton area, and the Western Alberta Transmission Line between Edmonton and Calgary.
“It is important for all Albertans that we move these projects forward in 2011,” said Mr. Thon. “Through consultation, careful analysis and listening to Albertans, we believe we have identified the best locations for these important transmission facilities to provide Albertans with reliable, green and cost-effective electricity for years to come.”
In announcing its financial results today, the Partnership reported net income of $15.5 million and $66.3 million for the fourth quarter and year ended December 31, 2010, respectively. 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.