ATCO’s Efficiency Initiatives to Save Alberta Utility Customers More Than Half a Billion Dollars

Among the updates ATCO provided to share owners at its recent Annual General Meeting was that its ATCO Gas and ATCO Electric businesses are on track to deliver more than $500 million in savings in distribution rates to its Alberta customers during the current regulatory rate period of 2023-2028. Distribution rates are the costs of operating the pipes and wires that provide natural gas and electricity to homes and businesses and represent the portion of the utility bill that ATCO Gas and ATCO Electric are responsible for.

This achievement reflects an eight per cent reduction in natural gas and electricity utility distribution rates, made possible through ATCO’s focused efficiency measures and cost-saving initiatives since 2018. Of note, ATCO is the only Alberta utility delivering natural gas and electricity distribution rate reductions to customers over the 2023-2028 period.

“At ATCO, we understand the pressures Albertans face with rising costs across essential services,” said Jason Sharpe, Chief Operating Officer of ATCO Energy Systems. “We’re very proud of how our team members — who are also utility customers themselves — have worked diligently to deliver meaningful savings while maintaining the reliability and safety our customers expect.”

ATCO remains steadfast in its mission to serve Albertans with integrity, transparency, and a long-term vision for reliable and affordable energy.  “These savings are not just numbers, they represent ATCO’s deep-rooted commitment to our customers and communities,” noted Mr. Sharpe.

The ATCO group of companies continues to advocate for a regulatory and business environment that supports innovation, efficiency and affordability—ensuring Alberta remains one of the most attractive places to live and work.

About ATCO 

As a global enterprise, ATCO Ltd. and its subsidiary and affiliate companies have approximately 21,000 employees and assets of $27 billion. ATCO is committed to future prosperity by working to meet the world’s essential energy, housing, security and transportation challenges. ATCO Structures designs, builds and delivers products to service the essential need for housing and shelter around the globe. ATCO Frontec provides operational support services to government, defence and commercial clients. ATCO Energy Systems delivers essential energy for an evolving world through its electricity and natural gas transmission and distribution, and international electricity operations. ATCO EnPower creates sustainable energy solutions in the areas of electricity generation, energy storage, industrial water and cleaner fuels. ATCO Australia develops, builds, owns and operates energy and infrastructure assets. ATCO Energy and Home Services provides retail electricity and natural gas services, home maintenance services and professional home advice that bring exceptional comfort, peace of mind and freedom to homeowners and customers. ATCO also has investments in ports and transportation logistics, the processing and marketing of ash, retail food services and commercial real estate. More information can be found at www.ATCO.com.

Contact:

Colin Jackson – Senior Vice President, Financial Operations – Colin.Jackson@atco.com – (403) 808-2636

Source: ATCO Ltd.