Company Overview of AltaLink, L.P.
AltaLink, L.P. owns and operates regulated electricity transmission facilities in Alberta. The company’s transmission system connects homes, farms, businesses, and industries to the electricity generated across Alberta. It operates approximately 13,000 kilometers of transmission lines and 300 substations. AltaLink Management Ltd. serves as the general partner of AltaLink, L.P. The company was founded in 2001 and is headquartered in Calgary, Canada. AltaLink, L.P. operates as a subsidiary of Berkshire Hathaway Energy Company.
2611 - 3rd Avenue S.E.
Calgary, AB T2A 7W7
Founded in 2001
Key Executives for AltaLink, L.P.
Chief Executive Officer of Altalink Management Ltd, President of Altalink Management Ltd and Director of Altalink Management Ltd
Chief Financial Officer of Altalink Management Ltd and Executive Vice President of Altalink Management Ltd
Chief Operating Officer of Altalink Management Ltd and Executive Vice President of Altalink Management Ltd
Senior Vice President of Law & Regulatory of Altalink Management Ltd and General Counsel of Altalink Management Ltd
Senior Vice President of Projects of Altalink Management Ltd
Compensation as of Fiscal Year 2016.
AltaLink, L.P. Key Developments
AltaLink, L.P. Reports Earnings Results for the Second Quarter Ended June 30, 2016
Aug 5 16
AltaLink, L.P. reported earnings results for the second quarter ended June 30, 2016. The company announced comprehensive income for the second quarter of 2016 was $80.5 million. During the same three month period in 2015, the company earned $58.3 million of comprehensive income. Revenue for the second quarter of 2016 was $249.9 million compared to $210.0 million during the same period in 2015. Compared to the same periods in 2015, the company’s comprehensive income for the three and six months ended June 30, 2016 increased mainly due to the negative impact of the AUC's GCOC decision related to 2014 and 2013 ($27.2 million) recorded in the first quarter of 2015, combined with an increased return from the company's investment in electricity transmission infrastructure and adjustments in the second quarter of 2016, in relation to regulatory decisions issued by the AUC. The company invested $216.8 million (three months ended June 30, 2015 - $288.0 million) in capital assets to ensure continued reliability of the electricity network and help prepare Alberta for a renewable energy future.
AltaLink, L.P. to Issue $350 Million in Medium-Term Notes
May 25 16
AltaLink, L.P. is continuing to support its customers through the cost-effective operation and reinforcement of Alberta's transmission grid, ensuring Albertans have the reliable energy they need. AltaLink has agreed to issue $350 million principal amount of 10 year, 2.747% Series 2016-1 Medium-Term Notes due May 29, 2026 in an agency transaction with a syndicate led by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Scotia Capital Inc. The syndicate also includes National Bank Financial Inc., TD Securities Inc., and Casgrain & Company Limited. Distribution of the Medium-Term Notes is expected to occur on May 30, 2016. The Medium-Term Notes will be secured by a first floating charge security interest in the present and future property and assets of AltaLink. The Medium-Term Notes rank pari passu with all senior, secured indebtedness and have priority over all present and future unsecured indebtedness and all subordinated indebtedness. The net proceeds from the issue and sale of the Medium-Term Notes will be used to repay a portion of AltaLink's short-term indebtedness, including indebtedness outstanding under its Commercial Paper Program.
Altalink, L.P. Announces Earnings Results for the Quarter and Year Ended December 31, 2015
Feb 29 16
AltaLink, L.P. announced earnings results for the quarter and year ended December 31, 2015. For the quarter, the company reported comprehensive income was $65.7 million compared with $66.3 million for the same period a year ago. Revenue was $241.4 million compared to $219.0 million in 2014.
For the year, the company reported comprehensive income was $209.8 million compared to $215.7 million for 2014. Revenue was $829.1 million compared to $728.5 million in 2014. Revenue growth is primarily due to the increase in investments to expand and reinforce the Alberta transmission system. Capital additions of $3.0 billion against $1.1 billion to expand the capacity of the power grid, ensure a reliable electricity network and help prepare Alberta for a renewable energy future.
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