If the sale of AltaLink to U.S.-based Berkshire Hathaway Energy goes through, rural communities can expect to see increased contributions to local groups and organizations such as 4-H, says AltaLink president and CAO Scott Thon.
Berkshire Hathaway Energy is proposing to purchase AltaLink for $3.2 billion. The sale still needs Alberta Utilities Commission approval.
In a Gazette interview on July 30, Thon said the sale shouldn't have any impact on consumer rates or service levels.
“Operationally it will have no impact and they won't see anything change,” said Thon. “We will remain totally focused on Alberta first. It will be the same management team and the same linemen that come out to fix things that go bump in the middle of the night.
“Costs will all remain the same and all regulated and gone through in large detail by the Alberta Utilities Commission. Reliability, we remain very focused on making sure it happens. No one will notice any change.”
If the sale does go through additional money will be made available to support community groups and organizations, he said.
“Berkshire Hathaway Energy has volunteered to invest more in the community,” he said. “AltaLink invests somewhere around a million dollars a year in communities across Alberta, and Berkshire Hathaway Energy has committed to invest an additional three million over three years. That is all from the shareholders and it is not in any way on anyone's electricity bill.”
Asked if the new money has been committed to specific projects, he said, “We have not earmarked it yet. We will be working through that once the sale is approved. That is the time we would be looking at that.
“I know today AltaLink invests in 4-H. I know that some of the other places we look at is post-secondary education to try to improve our kids in Alberta, as well as to all our other charitable donations we give across the province.”
Thon expects the sale to go through by year-end.
“We are really hoping a decision will happen by the end of 2014. Getting a decision is important for our employees to make sure we know where we are going and who our owner is going to be. These are major transactions that we don't want to leave unresolved,” he said.
- Dan Singleton
