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ASTC Power Partnership and Government of Alberta Agree to Settle Power Purchase Arrangement Dispute

November 24, 2016

CALGARY, ALBERTA--(Marketwired - Nov. 24, 2016) - ASTC Power Partnership ("ASTC"), a joint venture of AltaGas Pipeline Partnership ("AltaGas") and TransCanada Energy Ltd. and the former buyer of the Sundance B Power Purchase Arrangements ("Sundance B PPAs"), and the Government of Alberta ("GoA") have reached a tentative agreement on the principal terms of a settlement regarding an ongoing dispute over the termination by ASTC of the Sundance B PPAs.

"AltaGas is encouraged by the tentative settlement of this matter," said John Lowe, Executive Vice President. "This amicable resolution stands as testament to the excellence of Alberta's current and former public service, including Mr. Neil McCrank and Mr. Bob Heggie of the former Alberta Energy and Utilities Board. The settlement puts this issue behind the parties and encourages participation by Alberta-based firms in Alberta's electricity future."

This release contains forward-looking statements. When used herein, the words "may", "would", "could", "can", "will", "be", "intend", "possible", "plan", "develop", "anticipate", "target', "believe", "seek", "propose", "continue", "estimate", "expect", and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this release contains forward-looking statements with respect to, among other things, expectations regarding settlement of the dispute, the terms of settlement and impact settlement may have on future participation in Alberta electricity projects. 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. Such statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this release, should not be unduly relied upon. Such statements speak only as of the date of this release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.

 

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