Alberta has grown at an exceptional rate, and the transmission system needs to catch up – to bring new generation on the grid, to connect people and business to power and to bring economic opportunities to our province.

On March 10, 2009, AltaLink received approval to build and operate the Southwest 240 kV Project between Pincher Creek and Lethbridge.

“Our Southwest project will connect the growing amount of wind generation in the south to the rest of our province,” said Scott Thon, AltaLink’s president and chief executive officer. “We know our customers want reliable power and want access to green energy. By building much-needed transmission infrastructure we’re connecting Albertans to renewable sources of electricity to power their homes.”

“Now more than ever we need to invest in building infrastructure, including transmission facilities, to plan for the future,” said Thon. “A reinforced transmission grid will enable economic development in the province by giving people and businesses access to competitively priced power.”

AltaLink, L.P. has reported its financial results for the first quarter ended March 31, 2009. The Partnership recorded net income of $12.1 million before tax for the quarter, compared to net income of $11.6 million before tax for the same period in 2008, primarily due to the settlement of land expropriated for the Edmonton ring road and an interim tariff revenue increase of three per cent, which are partially offset by higher operating expenses and depreciation. The net income reported above is pre-tax, and is not directly comparable with net income reported by companies that recognize tax expense in their financial statements.

Total revenue of $59.3 million increased by $1.7 million in the first quarter of 2009 compared to the same quarter in 2008. Transmission tariffs approved by the Alberta Utilities Commission increased by $1.3 million on an interim tariff increase of three per cent. Our 2009 tariff will not be finalized until the AUC renders its decisions on our General Tariff Application and the Generic Cost of Capital late in 2009.