ATCO Electric, led by Nancy Southern, Chair, President & CEO feels that Albertans should be concerned about the sale of AltaLink to an American company.
Currently AltaLink is a transmission line operator that provides electricity to 85 per cent of Albertans. Its parent company SNC –Lavalin has made application to sell its equity interest to Berkshire Hathaway Energy Company, owned by billionaire and philanthropist Warren Buffet.
This week ATCO Electric put out full-page ads in major Alberta newspapers including The Drumheller Mail. It states: ‘We’re Losing Control” referencing the pending sale of the electricity grid.
“The pending sale of AltaLink to Berkshire Hathaway has serious consequences for the province we call home.
• Loss of control over our critical infrastructure
• Regulation oversight stops at the border
• Potential for more power exports”
Southern recently told the Calgary Herald the company was placing the ads and in a press release urges debate of the possible sale.
“The electric transmission system is critical infrastructure and in every other province, but Alberta, it is owned within the province,” said Nancy Southern, Chair, President & CEO, ATCO. “I believe this is a matter of principle that should be debated so that all Albertans understand the impact of such a transaction.”
The formal review and scrutiny period for the sale by the Alberta Utilities Commission (AUC) began on May 28. This is where they accept submissions from people who may have an interest in this application. The deadline for these initial submissions was June 20.
The AUC will review the applications in a methodical, fully public, evidence-based process and produce a written decision, with reasons. The AUC may attach conditions to its decisions. Representatives of various stakeholder groups, for example consumers, are expected to be part of this proceeding as interveners. Individual Albertans may also provide a written intervention to the AUC in support of, or in objection to, the specific applications received,” states a press release.
Under the Alberta Utilities Act, before the sale proceeds, it must be reviewed and approved by the AUC. It may also be reviewed and approved by Industry Canada.
