AltaLink proposes to refund $350 million to customers over three years
CALGARY, Alberta, Jan. 18, 2021 (WORLD NEWSWIRE) — AltaLink has actually sent a proposition to the Alberta Utilities Commission to reimburse an extra $350 million to Alberta electrical power clients in between 2021 and 2023. When integrated with AltaLink’s previous rate levelization efforts, the refund will minimize AltaLink’s part of each Albertan’s electrical power costs by approximately 11 percent annually over the three-year timeframe.
“Beginning in 2018, AltaLink committed to find ways to freeze its rates to electricity customers for five years and we found ways to deliver more than $1 billion in savings to our customers,” stated Gary Hart, President and Chief Operating Officer of AltaLink. “With this additional $350 million refund, we have moved beyond our commitment of freezing our rates to reducing them by an average of more than ten per cent per year for the next three years.”
As Albertans continue to browse the economy caused by the COVID-19 pandemic and low energy rates, AltaLink is happy to do its part by supplying the extra much-needed monetary relief to its clients.
“I am pleased to see an Alberta-based company looking for ways to support our communities through these difficult times. Our government is committed to working with AltaLink and other providers to pursue opportunities to protect customers and reduce the cost of energy delivery for Albertans,” Dale Nally, Partner Minister of Gas and Electrical Power.
Companies throughout Alberta assistance AltaLink’s proposition.
“Alberta’s job creators continue to face rising costs of doing business, particularly given the ongoing COVID-19 pandemic and energy price collapse. In recent Alberta Perspectives market research, electricity costs have been among the top concerns for the business community. AltaLink’s proposed refund initiative would provide much-needed relief to the struggling local businesses that play a significant role in our communities,” stated Alberta Chambers of Commerce President and CEO Ken Kobly.
The proposition should be authorized by the Alberta Utilities Commission.
Headquartered in Calgary, with workplaces in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s biggest electrical power transmission service provider. AltaLink is partnering with its clients to supply ingenious options to fulfill the province’s need for dependable and budget friendly energy. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink belongs to an international group of business providing energy services to clients worldwide.
For more details please contact:
Vice President, Communications
AltaLink Management Ltd.
Jobber Wiki author Frank Long contributed to this report.