Business
FortisAlberta receives approval for interim tariff to recover transmission costs
FortisAlberta receives approval for interim tariff to recover transmission costs.
About this update from Fortis Inc.
[{"type":"text","content":"\n\n\n\n\nCALGARY, Dec. 21 /CNW/ - (TSX:FTS) - FortisAlberta received approval\nDecember 20, 2005, from the Alberta Energy and Utilities Board (EUB) for\ninterim rates effective January 1, 2006 to recover from our customers the\ntransmission costs under the new rate structure that we are required to pay to\nthe Alberta Electric System Operator (AESO).\nTransmission costs paid to the AESO are subject to deferral account\ntreatment by the EUB and, as a result, do not impact FortisAlberta's earnings.\n\nFortisAlberta is an electric distribution company with approximately\n415,000 customers and more than 103,000 kilometres of power lines. It is a\nwholly owned indirect subsidiary of Fortis Inc. - a diversified, international\nelectric utility holding company with assets exceeding $4.1 billion and annual\nrevenues of over $1.2 billion. The Common Shares, Series C First Preference\nShares and Series E First Preference Shares of Fortis Inc. are traded on the\nToronto Stock Exchange under the symbols FTS, FTS.PR.C and FTS.PR.E,\nrespectively. Fortis Inc. information can be accessed at www.fortisinc.com.\n\nFortisAlberta may include forward-looking statements in this release. By\ntheir very nature, forward-looking statements are based on underlying\nassumptions and are subject to inherent risks and uncertainties surrounding\nfuture expectations generally. Such events include, but are not limited to,\ngeneral economic, market and business conditions, regulatory developments,\nweather and competition. FortisAlberta cautions readers that should certain\nevents or uncertainties materialize, or should underlying assumptions prove\nincorrect, actual results may vary significantly from those expected. For\nadditional information with respect to certain of these risks or factors,\nreference should be made to FortisAlberta's continuous disclosure materials\nfiled from time to time with Canadian Securities Regulatory Authorities.\nFortisAlberta disclaims any intention or obligation to update or revise any\nforward-looking statements, whether as a result of new information, future\nevents or otherwise.\n\n\n%SEDAR: 00021201E\n\n\n","length":2183,"tagName":"div"}]