Peace Country REA Members Vote to Sell to ATCO Electric
EDMONTON, ALBERTA -- (Marketwire) -- 01/16/13 -- Members of the Peace
Country Rural Electrification Association (REA) have voted 78 per
cent in favour of selling their electric distribution system to ATCO
Electric. The sale vote is the result of an ATCO Electric purchase
proposal requested by the Peace Country REA Board of Directors and
The Peace Country REA is an amalgamation of 10 REAs in northwest
Alberta, making it the third largest REA in the province. Members of
the Peace Country REA will receive $20,742 for each electric site
"ATCO Electric appreciates the confidence shown by the Peace Country
REA membership by entrusting us with their system, which we have had
the privilege of operating for the past 60 years," said Bobbi
Lambright, President, ATCO Electric Operations Division. "All ATCO
Electric customers will benefit from having a single company own,
operate and maintain the electric distribution system in this large
area of Alberta."
ATCO Electric has a long history of working with the REA's Board of
Directors to build, operate and maintain the REA's electric
distribution system. The membership's decision to sell the system to
ATCO Electric means that the company will continue to deliver these
services to the membership.
"We will immediately begin working on obtaining all the necessary
approvals," said Ron Kiers, Manager, Northwest Region, ATCO Electric.
"The first step is to meet with the Peace Country REA Board of
Directors to finalize the sale agreement and to discuss the details
of the transfer."
The sale requires the approval of the Rural Utilities Division and
the Alberta Utilities Commission. Once approved, members will receive
their share of ATCO Electric's purchase price and begin paying the
ATCO Electric farm rate. The change will mean that 90 per cent of the
Peace Country REA membership will pay lower monthly wires charges.
All members will also pay lower up-front costs for the construction
of new farm services.
A rural electrification association is a not-for-profit cooperative
that owns an electrical distribution system and supplies electric
energy to members in a rural region of Alberta.
ATCO Electric provides safe, reliable delivery of electricity to
nearly 213,000 customers in 245 communities across Alberta and is
part of the ATCO Group of Companies. ATCO Group, with more than 8,800
employees and assets of approximately $14 billion, delivers service
excellence and innovative business solutions worldwide with leading
companies engaged in structures & logistics (manufacturing, logistics
and noise abatement), utilities (pipelines, natural gas and
electricity transmission and distribution), energy (power generation,
natural gas gathering, processing, storage and liquids extraction)
and technologies (business systems solutions). More information can
be found at www.atco.com.
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represent the Corporation's expectations as of the date hereof, and
are subject to change after such date. The Corporation disclaims any
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