AltaLink Supports Alberta’s Transmission Policy Focused on Affordability and Reliability
AltaLink has voiced strong support for the Government of Alberta’s proposed legislation aimed at keeping electricity affordable and reliable for consumers across the province. The newly introduced Bill 52, the Energy and Utilities Statutes Amendment Act, 2025, prioritizes the optimal use of existing transmission infrastructure. The legislation aims to reduce costs to electricity ratepayers by limiting the construction of new transmission lines to situations where it is absolutely necessary.
AltaLink sees this policy shift as a positive and responsible step toward aligning Alberta’s transmission system with the needs of a modern, evolving electricity grid. According to Gary Hart, President and Chief Executive Officer of AltaLink, “We support the Government of Alberta’s changes to align transmission policy with today’s electricity grid, including the implementation of solutions to optimize the existing system and maximize its value before building new transmission lines.” He added, “The transmission system is the backbone of our economy. The updated direction sets a clear path for responsible transmission growth while prioritizing reliable and affordable service to our customers.”
Financial Accountability and Cost Control
AltaLink continues to be a leader in fiscal responsibility within Alberta’s electricity sector. By the end of 2025, AltaLink is projected to be the only utility in the province to maintain its revenue requirement below the 2018 level of $904 million for seven consecutive years, not including specific cost recoveries tied to emergency events such as the historic 2023 wildfires or adjustments mandated by the Alberta Utilities Commission (AUC).
This financial discipline reflects the company’s broader commitment to holding the line on controllable operating costs—even as inflation and global economic pressures drive up the cost of doing business. Mr. Hart emphasized this point, stating, “We understand that rising costs of living have put pressure on households, farms and businesses throughout our province. Our commitment to carefully manage costs while improving our top quartile safety and reliability performance drives our continuous improvement culture, benefitting every Albertan.”
First Quarter Financial Results – 2025
AltaLink reported net and comprehensive income of $80.2 million for the three months ended March 31, 2025, compared to $82.6 million for the same quarter in 2024. This $2.4 million decrease is largely attributed to a lower approved return on equity (ROE)—which declined from 9.28% in 2024 to 8.97% in 2025—and reduced interest expense recovery.
Operating revenue also saw a reduction in the first quarter, decreasing by $13.2 million compared to Q1 2024. This was primarily due to a lower recovery of salvage expenses and reduced equity returns on the rate base. Furthermore, as of June 19, 2024, the AUC approved a change to how AltaLink recovers site preparation costs for capital replacement projects, allowing those expenses to be collected over the average useful lives of the new assets starting January 1, 2024.
As AltaLink is structured as a limited partnership, it reports net income before income taxes, meaning its financial results may not be directly comparable to corporations that record income taxes in their reports.
About AltaLink
Based in Calgary, with regional offices in Edmonton, Red Deer, and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider. The company owns and operates more than 13,400 kilometers of transmission lines and over 310 substations, delivering power across the province. AltaLink is actively working with stakeholders and customers to develop innovative, cost-effective energy solutions that help meet Alberta’s growing electricity demand in a reliable and sustainable way.
Operational and Project Highlights – Q1 2025
AltaLink’s focus during the first quarter of 2025 remained steadfast on safety, system reliability, and customer service excellence. The following milestones illustrate the company’s commitment to performance and innovation:
- Customer Satisfaction: AltaLink achieved a customer satisfaction score of 9.83 out of 10, a notable increase from 9.66 in Q1 2024.
- Employee Safety: The company reported zero employee injuries, consistent with the same quarter last year, reinforcing its industry-leading safety practices.
- Service Reliability: The average customer outage duration increased to two minutes, up from one minute in Q1 2024. The uptick was due to an isolated equipment failure at a remote location.
- 799L Transmission Line Rebuild Project: On March 5, 2025, the AUC granted approval for the rebuild of a 62-kilometre segment of the 138-kilovolt 799L transmission line, spanning four counties—Woodlands, Lac St. Anne, Yellowhead, and Parkland. The investment is forecasted at $43.3 million.
- Canada Infrastructure Bank Loan: On March 27, 2025, AltaLink secured a $37.6 million loan from the Canada Infrastructure Bank to finance the Central East Transfer-Out project. The 31-year loan has a fixed interest rate of 2.17%, significantly lower than typical AltaLink bond offerings, saving customers an estimated $60 million in interest over the term.
- Vauxhall Area Transmission Development: On March 28, 2025, AltaLink energized a reconfigured 610L transmission line, following completion of the 879L line in November 2024. Together, these investments support power demand in the region. The total projected cost is $23.3 million, and the final phase of reclamation is expected to finish in Q2 2025.
- Credit Rating Affirmation: On May 1, 2025, S&P Global Ratings reaffirmed AltaLink’s A- issuer credit rating and senior secured rating with a stable outlook. Maintaining this rating helps AltaLink keep borrowing costs low, directly benefiting customers.
- Capital Investment: The company invested $103.6 million in capital assets in Q1 2025, compared to $69.6 million in Q1 2024. These funds were directed toward maintaining system integrity, safety, and expanding transmission access for new customers.
Looking Ahead with Transparency
AltaLink remains committed to open communication with investors, customers, and regulators. The company emphasized that this press release does not constitute an offer or solicitation to buy or sell securities. Its securities are not registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S. except through exemption provisions.
Moreover, AltaLink cautions that forward-looking statements in the release—including those containing words such as “expects,” “projects,” “intends,” and similar expressions—reflect management’s internal beliefs and forecasts but are inherently subject to risks and uncertainties. As such, actual outcomes may differ materially from those projected. These risks are detailed in AltaLink’s public filings, and the company does not commit to updating forward-looking statements beyond what is required by applicable law.
