Halifax, Nova Scotia - August 25, 2010 - Heritage Gas announced today it has filed an application with the Nova Scotia Utility and Review Board (NSUARB) for approval of a rate increase, effective January 1, 2011. The requested rate increase reflects increased costs to operate, maintain and administer the Heritage Gas natural gas distribution system.
The NSUARB direction provided on June 11, 2010 requested Heritage Gas file for rate relief in situations where revenue growth from new customers is not sufficient to cover increased operating costs. This rate increase is incremental to an already approved rate increase for 2011 and does not apply to customers’ entire bill. Customers will see an incremental 7 percent increase to the delivery charge portion of their bill. The NSUARB has a process to review and approve rate applications. A hearing date is expected to be set for fall, 2010.
Heritage Gas customers will continue to significantly benefit from lower costs, lower energy consumption and lower greenhouse gas emissions by choosing natural gas over other energy sources. Customers are expected to see natural gas price savings over fuel oil in the 27 to 50 percent range. Heritage Gas has over 2,600 customers in Halifax, Dartmouth, Amherst and the Halifax Airport area. Heritage Gas is owned by AltaGas Utility Group Inc. an indirect wholly-owned subsidiary of AltaGas Ltd. (AltaGas).
AltaGas is one of Canada’s largest and fastest growing energy infrastructure organizations. AltaGas creates value by acquiring, growing and optimizing gas and power infrastructure, including a focus on renewable energy sources. For more information visit: www.altagas.ca.
This media advisory contains forward-looking statements. When used in this media advisory, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "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 media advisory contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. 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 forwardlooking 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 media advisory, including without limitation those listed above. These actors 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 media advisory as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this media advisory, should not be unduly relied upon. Such statements speak only as of the date of this media advisory. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this media advisory are expressly qualified by this cautionary statement.
For further information contact:
Investment CommunityMyles Dougan
(403) 691-7594
1-877-691-7199
investor.relations@altagas.ca
Media
Adrianne Lovric
(403) 691-9873
adrianne.lovric@altagas.ca