AltaGas Ltd. Receives Independent Arbitration Panel Ruling

AltaGas Ltd. Receives Independent Arbitration Panel Ruling Regarding
Claim of Force Majeure on Sundance Unit 3 
CALGARY, ALBERTA -- (Marketwire) -- 11/23/12 --  
AltaGas Ltd. ("AltaGas") (TSX:ALA) (TSX:ALA.PR.A) (TSX:ALA.PR.U)
received the ruling of the independent arbitration panel which
evaluated the merits of a force majeure claim in relation to outages
of the Sundance 3 facility that first occurred in the second quarter
The independent arbitration panel issued its ruling on November 22,
2012 which granted partial force majeure relief to the operator of
the facility. Based on this decision, AltaGas expects to receive a
cash payment of approximately $5 million from the operator of the
facility and expects to record an after-tax, non-cash charge of
approximately $8 million in the fourth quarter of 2012.   
In June 2010, the facility operator declared force majeure due to the
mechanical failure of critical generator components at its 353
megawatt (MW) Sundance 3 generator. Based on information available at
that time, AltaGas and its partner in the ASTC Power Partnership
disagreed with the operator's claim and initiated the dispute
resolution process prescribed by the Power Purchase Arrangement. This
resulted in a binding arbitration process that was conducted earlier
in 2012.  
AltaGas is an energy infrastructure business with a focus on natural
gas, power and regulated utilities. AltaGas creates value by
acquiring, growing and optimizing its energy infrastructure,
including a focus on renewable energy sources.   
This news release contains forward-looking statements. When used in
this news release, the words "may", "would", "could", "will",
"intend", "plan", "anticipate", "believe", "seek", "propose",
"estimate", "expect", and similar expressions, as they relate to
AltaGas or an affiliate of AltaGas, are intended to identify
forward-looking statements. In particular, this news release contains
forward-looking statements with respect to, among other things,
business objectives, expected growth, results of operations,
performance, business projects and opportunities and financial
results. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ material
ly from those anticipated in such
forward-looking statements. Such statements reflect AltaGas' current
views with respect to future events based on certain material factors
and assumptions and are subject to certain risks and uncertainties,
including without limitation, changes in market, competition,
governmental or regulatory developments, general economic conditions
and other factors set out in AltaGas' public disclosure documents.
Many factors could cause AltaGas' actual results, performance or
achievements to vary from those described in this news release,
including without limitation those listed above. These factors should
not be construed as exhaustive. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying
forward-looking statements prove incorrect, actual results may vary
materially from those described in this news release as intended,
planned, anticipated, believed, sought, proposed, estimated or
expected, and such forward-looking statements included in, or
incorporated by reference in this news release, should not be unduly
relied upon. Such statements speak only as of the date of this news
release. AltaGas does not intend, and does not assume any obligation,
to update these forward-looking statements. The forward-looking
statements contained in this news release are expressly qualified by
this cautionary statement.
AltaGas Ltd.
Investment Community
AltaGas Ltd.
(403) 691-9873
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