Tuesday, October 21st9.8°C
23836
23720

AltaLink Q2 profit rises to $49 million, revenue also higher

CALGARY - Alberta electric utility AltaLink says it had $49 million of net income before taxes in the second quarter, up from $33.4 milion a year earlier.

The limited partnership, partly owned by Montreal-based SNC-Lavalin (TSX:SNC), said its revenue was $168.5 million, up from $117.5 million a year earlier.

SNC has agreed to sell its portion of AltaLink for $3.2 billion to Berkshire Hathaway Energy, which has committed to invest at least $27 million over five years on development opportunities in Canada and the United States.

The deal requires approval from the Alberta Utilities Commission.

AltaLink owns more than half of Alberta's transmission grid — about 12,000 kilometres of transmission lines, as well as 280 substations, delivering electricity to about 85 per cent of the province's population.

The Canadian Press


Read more Business News

23021


Recent Trending




Today's Market
S&P TSX14337.77+110.09
S&P CDNX811.351.22
DJIA16399.6719.26
Nasdaq4316.075+57.637
S&P 5001904.01+17.25
CDN Dollar0.8883+0.0024
Gold1252.70+8.00
Oil81.78+0.40
Lumber330.40-0.50
Natural Gas3.68+0.01

 
Okanagan Companies
Pacific Safety0.10-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.12+0.01
Cantex0.055-0.025
Anavex Life Sciences0.191+0.001
Metalex Ventures0.050.00
Russel Metals32.28-0.07
Copper Mountain Mining1.99+0.05
Colorado Resources0.15+0.005
ReliaBrand Inc0.0111-0.0019
Sunrise Resources Ltd0.060.00
Mission Ready Services0.450.00

 



22980

FEATURED Property
2107291DOUBLE WIDE RENOVATED MOBILE HOME IN PARK, 159,000 obo WEST KELOWNA B.C.
$159,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_



23545




Member of BC Press Council


22496