ATCO Electric to Build $210 Million Transmission Line
Project Strengthens Grid System to Meet Needs in Northwest Alberta
EDMONTON, ALBERTA–(June 19, 2007) – ATCO Electric today applied to the Alberta Energy & Utilities Board (AEUB) for approval to build and operate a new 240-kV electric transmission line in northwest Alberta, following assignment by the Alberta Electric System Operator (AESO).The 235 kilometre transmission line, which starts in the Wabasca area and ends in the Peace River region, is part of a larger development identified by the AESO for the Northwest Region. The project, including expansions to existing substations, is estimated to cost ATCO Electric $210 million with targeted completion by 2010. Other projects within the first phase include the construction of three other major transmission lines, the expansion or upgrade of associated substations and the construction of two new substations. ATCO Electric plans to begin construction in late 2007 once all necessary approvals and land easements have been received.
ATCO Electric began consulting with and seeking input from involved landowners and Aboriginal communities last summer and recently completed a series of meetings with interested parties along the preferred route prior to filing the AEUB application. ATCO Electric is committed to continuing to work closely with Aboriginal communities and other stakeholders throughout the project.
“We intend to use the same expertise we applied during construction of the Dover-Whitefish transmission line, which we completed on budget while building strong relationships with Aboriginal communities and other stakeholders,” said ATCO Electric President Sett Policicchio. “This is a much needed project that will strengthen the transmission system for our customers in fast-growing northwest Alberta.”
This is the first major transmission project for ATCO Electric since 2004, when the company completed the Dover-Whitefish transmission line. The company received the Edison Award, the electricity industry’s most prestigious international award for its leadership and innovation in the construction of this line. Awarded by the Washington-based Edison Electric Institute, ATCO Electric was the first Canadian company to win the award.
The AESO acts as the independent system operator, directing the reliable and economic operation of Alberta’s interconnected electric system. It plans the transmission development in Alberta by identifying present and future needs and directs transmission facility owners such as ATCO Electric to provide the needed transmission services and facilities.
The AEUB is an independent, quasi-judicial agency of the government of Alberta that regulates development, rates and terms of service for major transmission lines.
ATCO Electric, part of the ATCO Group of Companies, delivers electric energy to customers throughout northern and east-central Alberta. ATCO Group, an Alberta based worldwide organization of companies with assets of approximately $7.9 billion and more than 7,000 employees, is comprised of three main business divisions: Power Generation; Utilities (natural gas and electricity transmission and distribution) and Global Enterprises, with companies active in industrial manufacturing, technology, logistics and energy services. More information about ATCO Ltd. can be found on its website, www.atco.com.
Forward-Looking Information:
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The forward-looking statements contained in this news release represent the Corporations’ expectations as of the date hereof, and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
CONTACT INFORMATION
ATCO Electric
Sett Policicchio
President
(780) 420-7731
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