Peace Country REA Members Vote to Sell to ATCO Electric

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
membership. 
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
they own. 
"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. 
Forward-Looking Information: 
Certain statements contained in this news release may constitute
forward-looking statements. Forward-looking statements are often, but
not always, identified by the use of words such as "anticipate",
"plan", "expect", "may", "will", "intend", "should", and similar
expressions. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking statements. The Corporation believes that the
expectations reflected in the forward-looking statements are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements should
not be unduly relied upon. 
The Corporation's actual results could differ materially from those
anticipated in these forward-looking statements as a result of
regulatory decisions, competitive factors in the industries in which
the Corporation operates, prevailing economic conditions, and other
factors, many of which are beyond the control of the Corporation.  
The forward-looking statements contained in this news release
represent the Corporation's 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.                
Contacts:
ATCO Electric
Corporate Communications
780-288-7621 (24 hours)
www.atco.com
 
 
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