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CALGARY, Alberta — In May 2025, when an out-of-control wildfire in the Lac La Biche region approached and then moved through its transmission lines, AltaLink focused first on protecting its lines from the impacts of the fire where possible and then quickly rebuilding or repairing transmission lines that were burned in the fire to restore power to customers.
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“Our team moved quickly when an out-of-control wildfire threatened our transmission lines and reliable service for our customers,” said Gary Hart, AltaLink’s President and Chief Executive Officer. “We had a one-day window where we successfully installed fire-resistant pole wrap on wood structures to help protect the line from wildfire and reduce both the amount of damage and potential duration of the outage if the line had burned.”
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Pole wrap protects wood poles from being compromised in a fire. As a result of the installation of the pole wrap, when the fire reached the transmission line, the wrapped poles were protected, significantly reducing the time the lines were out of service.
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In areas where either nearby wildfire activity or challenging ground and access conditions preempted any opportunity to install pole wrap, the wildfire burned 21 structures which required either complete rebuilds or significant repairs.
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“We urgently needed to complete these repairs to get a major industrial customer reconnected to the grid,” said Mr. Hart. “In areas with soft ground and muskeg that we would normally only be able to access while the ground is frozen, we were able to replace or repair 21 structures in less than two weeks. I’m very proud of the outstanding work by the team in extremely challenging conditions to quickly and safely get the line rebuilt.”
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In addition to its wildfire response activities, AltaLink’s wildfire mitigation plan is part of the company’s commitment to reducing the likelihood of contributing to the ignition of a wildfire, maintaining a safe and reliable transmission system for Albertans. Together, AltaLink’s wildfire mitigation and response efforts help to reduce the potential of a catastrophic wildfire and the impact to Alberta’s economy that can result from a wildfire.
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AltaLink announces 2025 second quarter financial results
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Today, AltaLink, L.P. announced net and comprehensive income of $82.6 million for the three months ended June 30, 2025, compared to $83.9 million for the same quarter in 2024. Our net and comprehensive income for the three months ended June 30, 2025, decreased by $1.3 million compared to the same period in 2024. This change is primarily due to decreased revenue from a lower approved return on equity of 8.97% in 2025 versus 9.28% in 2024, partially offset by one-time utility right-of-way revenue.
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For the three months ended June 30, 2025, our revenue from operations was $246.5 million, an increase of $6.9 million compared to the same period in 2024. The change is primarily due to higher revenue related to a salvage recovery reduction in June 2024 as a result of the AUC’s June 19, 2024, approval of the capitalization of site preparation costs for replacement projects effective January 1, 2024, partially offset by lower equity returns on rate base in 2025 due to a lower approved return on equity of 8.97% versus 9.28% in 2024.
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As a partnership, AltaLink, L.P. reports its net income before income taxes; therefore, its results are not directly comparable with net income reported by corporations that recognize income taxes in their financial statements.
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AltaLink’s full financial results and management’s discussion and analysis can be found on AltaLink’s website at www.altalink.ca or on SEDAR+ at www.sedarplus.ca.
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Headquartered in Calgary, with offices in Edmonton, Red Deer and Lethbridge, AltaLink is Alberta’s largest electricity transmission provider, with more than 13,400 kilometres of transmission lines and more than 310 substations. AltaLink is partnering with its customers to provide innovative solutions to meet the province’s demand for reliable and affordable energy.
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Significant highlights during the second quarter of 2025
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AltaLink’s second quarter of 2025 results highlight ongoing focus on safety, reliability and customer satisfaction:
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- We achieved a customer satisfaction average score of 9.73 out of 10 compared to 9.71 for the same quarter in 2024.
- We had one employee injury, representing a total recordable injury frequency rate of 0.61, matching our performance for the same quarter in 2024.
- Our customer average outage duration increased to six minutes compared to four minutes for the same quarter in 2024. Performance was impacted by wildfire activity that required de-energization of seven transmission lines across four different fire events. These wildfire de-energizations contributed three of the six average outage duration minutes in the quarter. Excluding the impact of wildfires, our reliability performance improved compared to the same quarter in 2024.
- On May 28, 2025, we activated our emergency response plan due to an out-of-control wildfire in the Lac La Biche area of Alberta. We quickly installed fire-resistant pole wrap on structures to help protect our assets where possible. This wildfire impacted four of our transmission lines. On June 10, 2025, we completed repairs and restored transmission service to our industrial customers in the area.
- On May 15, 2025, we filed our 2026-2027 GTA, 2023-2024 Deferral Accounts Reconciliation Application, and the 2026-2027 GTAs on behalf of PLP and KLP. On July 15, 2025, we filed an amended application and are seeking approval of total amended revenue requirements of $929.0 million and $975.5 million for 2026 and 2027, respectively.
- On July 10, 2025, the Transmission Amendment Regulation was enacted through Order in Council. The updated regulation, along with the May 15, 2025, implementation of Bill 52, the Energy and Utilities Statutes Amendment Act, makes several legislative and regulatory amendments to transmission policy. The focus of the legislation and regulation is on strengthening reliability, lowering and stabilizing Alberta utility bills and encouraging investment in the province.
- In July 2025, with the release of our 2024 Sustainability Report, AltaLink continued to demonstrate its commitment to sustainability as it operates the transmission system that supplies millions of Albertans with electricity.
- We earned net and comprehensive income of $82.6 million compared to $83.9 million for the same quarter in 2024. Our income decreased mainly due to decreased revenue from a lower approved return on equity of 8.97% in 2025 versus 9.28% in 2024, partially offset by one-time utility right-of-way revenue.
- In May 2025, S&P reaffirmed its issuer credit rating and senior secured rating on AltaLink at “A-” with a stable outlook. In July 2025, DBRS reaffirmed its ratings on AltaLink including the Issuer, Medium-Term Note (Secured), and Senior Secured Note ratings at “A”, as well as the Commercial Paper rating at R-1 (low), all with stable trends. “A” and “A-” ratings allow us to keep debt financing costs low for our customers.
- We invested $112.1 million in capital assets compared to $96.0 million for the same quarter in 2024 to ensure continued electric transmission system safety and reliability, to replace transmission assets damaged by wildfires, and to connect customers.
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