During the first quarter of 2020, AltaLink invested $82.8 million in its transmission system.Today, AltaLink, L.P. announced net and comprehensive income of $74.0 million for the three months ended March 31, 2020, compared to $79.8 million for the same period in 2019. Our net and comprehensive income increased mainly due to the one-time re-measurement of future income tax revenue in the prior year’s second quarter, as a result of the Alberta tax rate reductions which were legislated in June 2019. Net and comprehensive income for the three months ended June 30, 2019 is slightly higher after normalizing for the impact of the tax rate change in June 2019. AltaLink’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. AltaLink is the only transmission company in Alberta who has reached a negotiated settlement with its customers. “We’ve adjusted many of our work practices to keep our employees healthy and safe from the spread of COVID-19 while they’re working on the transmission system.”Utilities are one of the industries identified by the Government of Alberta as an essential service for Albertans. Today, AltaLink, L.P. announced comprehensive income of $79.8 million for the three months ended March 31, 2019, compared to $79.0 million for the same period in 2018. AltaLink is Alberta’s largest regulated electricity transmission company.Our transmission system is the essential link that connects homes, farms, businesses and industries to the electricity generated across Alberta. Foot Locker, Inc. leads the celebration of sneaker and youth culture around the globe through a portfolio of brands including Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, Footaction, Runners Point and Sidestep. The agreement was filed with the Alberta Utilities Commission (AUC) on July 10, 2019. The increase is primarily due to the increased investment in our electricity transmission infrastructure, combined with savings from continued cost control measures. Net and comprehensive income and revenue decreased mainly due to lower recovery of future income tax revenue, as a result of the Alberta tax rate reductions which were legislated in June 2019. Revenue from operations for the three months ended June 30, 2019, was $224.0 million compared to $238.7 million during the same period in 2018, a decrease of $14.7 million. Contact us. The reduction of AltaLink’s recovery of future income tax revenue will benefit our customers and is offset by a corresponding decrease in income tax expense of AltaLink’s corporate owners.As a partnership, AltaLink, L.P. reports its net income before income taxes; therefore its results are not directly comparable with net income reported by corporations that recognize income taxes in their financial statements.AltaLink’s full financial results and management’s discussion and analysis can be found on AltaLink’s website at Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider. Today, AltaLink, L.P. announced net and comprehensive income of $74.0 million for the three months ended March 31, 2020, compared to $79.8 million for the same period in 2019. "Since announcing our first proposal to reduce customer costs in 2015, employees at AltaLink have been leaders in proposing innovative solutions to reducing the cost of our service for customers,” said Scott Thon, AltaLink President & CEO. Investor Relations Chris Lomore Vice President, Treasurer AltaLink Management Ltd. AltaLink employees continue to operate the grid from AltaLink’s 24-hour control centre and substation, line, telecom and relay crews are working in the field to maintain the reliability of the transmission system, Alberta’s electricity backbone. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide.Significant highlights during the first quarter of 2020 Phone: 403.267.3446 E-mail: chris.lomore@altalink.ca Media Relations … A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide. Accordingly, holders of AltaLink securities and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. The agreement was filed with the Alberta Utilities Commission (AUC) on July 10, 2019, and must be approved by the AUC through a public process.“Reaching a negotiated settlement with our customers is a huge step in delivering on our commitment to keeping our rates at or below 2018 levels through to the end of 2023,” said Scott Thon, AltaLink President & CEO.
During the first quarter of 2020, AltaLink invested $82.8 million in its transmission system.Today, AltaLink, L.P. announced net and comprehensive income of $74.0 million for the three months ended March 31, 2020, compared to $79.8 million for the same period in 2019. Our net and comprehensive income increased mainly due to the one-time re-measurement of future income tax revenue in the prior year’s second quarter, as a result of the Alberta tax rate reductions which were legislated in June 2019. Net and comprehensive income for the three months ended June 30, 2019 is slightly higher after normalizing for the impact of the tax rate change in June 2019. AltaLink’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. AltaLink is the only transmission company in Alberta who has reached a negotiated settlement with its customers. “We’ve adjusted many of our work practices to keep our employees healthy and safe from the spread of COVID-19 while they’re working on the transmission system.”Utilities are one of the industries identified by the Government of Alberta as an essential service for Albertans. Today, AltaLink, L.P. announced comprehensive income of $79.8 million for the three months ended March 31, 2019, compared to $79.0 million for the same period in 2018. AltaLink is Alberta’s largest regulated electricity transmission company.Our transmission system is the essential link that connects homes, farms, businesses and industries to the electricity generated across Alberta. Foot Locker, Inc. leads the celebration of sneaker and youth culture around the globe through a portfolio of brands including Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, Footaction, Runners Point and Sidestep. The agreement was filed with the Alberta Utilities Commission (AUC) on July 10, 2019. The increase is primarily due to the increased investment in our electricity transmission infrastructure, combined with savings from continued cost control measures. Net and comprehensive income and revenue decreased mainly due to lower recovery of future income tax revenue, as a result of the Alberta tax rate reductions which were legislated in June 2019. Revenue from operations for the three months ended June 30, 2019, was $224.0 million compared to $238.7 million during the same period in 2018, a decrease of $14.7 million. Contact us. The reduction of AltaLink’s recovery of future income tax revenue will benefit our customers and is offset by a corresponding decrease in income tax expense of AltaLink’s corporate owners.As a partnership, AltaLink, L.P. reports its net income before income taxes; therefore its results are not directly comparable with net income reported by corporations that recognize income taxes in their financial statements.AltaLink’s full financial results and management’s discussion and analysis can be found on AltaLink’s website at Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider. Today, AltaLink, L.P. announced net and comprehensive income of $74.0 million for the three months ended March 31, 2020, compared to $79.8 million for the same period in 2019. "Since announcing our first proposal to reduce customer costs in 2015, employees at AltaLink have been leaders in proposing innovative solutions to reducing the cost of our service for customers,” said Scott Thon, AltaLink President & CEO. Investor Relations Chris Lomore Vice President, Treasurer AltaLink Management Ltd. AltaLink employees continue to operate the grid from AltaLink’s 24-hour control centre and substation, line, telecom and relay crews are working in the field to maintain the reliability of the transmission system, Alberta’s electricity backbone. A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide.Significant highlights during the first quarter of 2020 Phone: 403.267.3446 E-mail: chris.lomore@altalink.ca Media Relations … A wholly-owned subsidiary of Berkshire Hathaway Energy, AltaLink is part of a global group of companies delivering energy services to customers worldwide. Accordingly, holders of AltaLink securities and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. The agreement was filed with the Alberta Utilities Commission (AUC) on July 10, 2019, and must be approved by the AUC through a public process.“Reaching a negotiated settlement with our customers is a huge step in delivering on our commitment to keeping our rates at or below 2018 levels through to the end of 2023,” said Scott Thon, AltaLink President & CEO.