Latest news with #JasonSharpe
Calgary Herald
6 days ago
- Business
- Calgary Herald
ATCO says savings to come despite Alberta Utilities Commission decision
Southern Alberta-based ATCO says efficiency initiatives will save its utility customers more than $500 million despite an Alberta Utilities Commission decision. Article content Article content The AUC decision report that was released Wednesday notes that the commission found ATCO's performance-based regulation (PBR) plans 'did not operate as intended in each of 2021 and 2022.' Article content Through PBR, which is used to regulate distribution utilities in Alberta, utilities are incentivized to find efficiencies in their work and pass those on to customers through rates. Article content Article content ATCO maintains it operated within the PBR, and says established rules are now being interpreted and administered differently after the fact. It has been granted the right to appeal one of the AUC's reopener decisions, which will be heard in the Alberta Court of Appeal. Article content Article content Although it has been ordered to refund tens of millions, ATCO asserts that it should be held until the appeal is heard by the court in October. Article content The report does not directly dispute the $500 million in cost savings, and the chief operating officer of ATCO Energy Systems doesn't believe that is the AUC's intent. Article content 'This would be the AUC looking for an additional piece on top of that 500 million,' said Jason Sharpe. 'I wouldn't want someone to look at this decision and say, ATCO isn't committed to delivering lower rates for customers and being more efficient.' Article content In an email an AUC spokesperson said the regulator won't be providing interviews on the matter, but noted it has directed ATCO Electric and ATCO Gas to refund a total of $71 million. Article content Article content This comes 'after finding the companies' 2021 and 2022 rates were not just and reasonable,' resulting in overcharging of customers. Refunds to ATCO Electric and ATCO Gas customers will be $35 million and $36 million respectively. Article content 'The refund will be provided over a six-month period from Sept. 2025 to Feb. 2026, through a rate rider on bills,' the email read. Article content However, ATCO's appeal has been granted the right to be heard, and if they are correct there would be no refund. Article content By going ahead of the appeal, he said customers could end up with a refund on their bill that gets 'clawed back' after the fact.
Cision Canada
6 days ago
- Business
- Cision Canada
ATCO Delivering Over $500 Million in Savings to Albertans: Undeterred by AUC Decision, ATCO Continues to Pursue Efficiency and Affordability for Customers
CALGARY, AB, May 29, 2025 /CNW/ - ATCO Ltd. (TSX: ACO.X) (TSX: ACO.Y) /Canadian Utilities Limited (TSX: CU) ATCO is extremely disappointed with yesterday's AUC decision regarding regulatory rules. ATCO believes the AUC is now interpreting the rules differently than previously outlined. ATCO is the only Utility in Alberta to reduce distribution costs by 8 per cent and continues to drive affordability for Albertans along with regulatory fairness. View PDF ATCO is the only utility in Alberta to reduce distribution costs during the current five-year regulatory term and supported the PBR (Performance-Based Regulation) framework since its introduction. PBR incentivizes Alberta utilities to reduce costs while maintaining safe and reliable service and then share those cost savings with customers. ATCO is extremely disappointed with the position announced by the Alberta Utilities Commission (AUC) yesterday. ATCO has already been granted the right to appeal the AUC PBR 2 Reopener decision, and the matter will be heard in the Alberta Court of Appeal this October. "ATCO operated within the PBR regulatory framework and is proud of the cost savings we have achieved for customers and for our business under PBR," said Jason Sharpe, Chief Operating Officer of ATCO Energy Systems. "Our employees put the customer at the centre of our business, enabling ATCO to deliver more than $500 million in savings in distribution costs, which customers are already benefitting from over the 2023-2028 period." "ATCO believes the rules that were established are now being interpreted and administered differently, after the fact," continued Mr. Sharpe. "We will continue to advocate for a regulatory framework that provides certainty for customers and industry alike." As an energy provider in Alberta for more than 110 years, ATCO remains steadfast in its mission to serve Albertans with integrity and a long-term vision for reliable and affordable energy. ATCO continues to be a leader in advocating for a fair, affordable, and efficient regulatory and business environment in Alberta. Background on Performance Based Regulation Rates for electric and gas distribution utilities in Alberta are set under a form of Performance Based Regulation (PBR). PBR is designed to mimic competition and encourage efficiency by providing incentives for the utility to reduce costs, while safeguarding reliability, and minimizing rate increases. The issue concerns the AUC's position that ATCO was not detailed enough in documenting the specific sources of all the cost savings achieved by its Alberta natural gas and electricity distribution utilities during the previous PBR period of 2018-2022. The AUC has previously acknowledged that "it is difficult, if not impossible, to identify and separate cost reductions that the ATCO Utilities would have undertaken" in response to the PBR framework from other factors. Yet in the May 2024 PBR2 reopener decision, the AUC claimed that the ATCO Utilities failed to fully quantify or attribute all efficiency gains under PBR to specific programs or initiatives —leading to today's remedy decision. This contradiction underscores the pressing need for regulatory certainty. While the May 2024 PBR2 reopener decision is currently under appeal, ATCO requested that the AUC delay determining any remedy until the appeal is resolved. That request was denied. From 2023 – 2028 ATCO Gas and ATCO Electric businesses will deliver over $500 million in distribution savings to its Alberta customers, already reducing distribution costs charged to customers by eight per cent. ATCO is the only Alberta utility that delivered natural gas and electricity rate reductions to customers at the end of the PBR2 period. While ATCO disagrees with the remedy decision issued, we remain proud to have already reduced rates for customers through the actions taken. 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 for which ATCO Gas and ATCO Electric are responsible. 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 Media Inquiries: Kurt Kadatz Director, Corporate Communications [email protected] 587-228-4571 Forward Looking Information Advisory Certain statements contained in this news release constitute forward-looking information, including, but not limited to, references to reductions in natural gas and electricity distribution rates to be delivered to customers during the regulatory rate period from 2023-2028. Although we believe that the expectations reflected in the forward-looking information are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors, which may cause actual results, levels of activity, and achievements to differ materially from those anticipated in such forward-looking information. The forward-looking information reflects beliefs and assumptions with respect to, among other things, the applicability and stability of legal and regulatory requirements; continuing collaboration with certain business partners, and regulatory and environmental groups; the performance of assets and equipment; the ability to meet current project schedules, and other assumptions inherent in management's expectations in respect of the forward-looking information identified herein. Actual results could differ materially from those anticipated in this forward-looking information as a result of, among other things, risks inherent in the performance of assets; applicable laws and regulations and the interpretation and manner of enforcement of such laws and regulations; changes to government policies; regulatory decisions; competitive factors; evolving market or economic conditions; credit risk; interest rate fluctuations; the availability and cost of labour, materials, services, and infrastructure; future demand for resources; the development and execution of projects; prices of electricity and natural gas; the risk of operational disruptions, outages, or force majeure events; the occurrence of unexpected events such as fires, extreme weather conditions, explosions, blow-outs, equipment failures, transportation incidents, and other accidents or similar events; global pandemics; the imposition of or changes to customs duties, tariffs or other trade restrictions; geopolitical tensions and wars; and other risk factors, many of which are beyond control. Due to the interdependencies and correlation of these factors, the impact of any one material assumption or risk on a forward-looking statement cannot be determined with certainty. Readers are cautioned that the foregoing lists are not exhaustive. For additional information about the principal risks that are faced by the companies, see "Business Risks and Risk Management" in Management's Discussion and Analysis for ATCO Ltd. and Canadian Utilities Limited, respectively, for the year ended December 31, 2024. Any forward-looking information contained in this news release represents management's expectations as of the date hereof, and is subject to change after such date. The companies disclaim any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
Cision Canada
26-05-2025
- Business
- Cision Canada
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 Investor Inquiries: Colin Jackson Senior Vice President, Financial Operations [email protected] 403-808-2636 Media Inquiries: Kurt Kadatz Director, Corporate Communications [email protected] 587-228-4571 Forward Looking Information Advisory Certain statements contained in this news release constitute forward-looking information, including, but not limited to, references to reductions in natural gas and electricity distribution rates to be delivered to customers during the regulatory rate period from 2023-2028. Although we believe that the expectations reflected in the forward-looking information are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors, which may cause actual results, levels of activity, and achievements to differ materially from those anticipated in such forward-looking information. The forward-looking information reflects beliefs and assumptions with respect to, among other things, the applicability and stability of legal and regulatory requirements; continuing collaboration with certain business partners, and regulatory and environmental groups; the performance of assets and equipment; the ability to meet current project schedules, and other assumptions inherent in management's expectations in respect of the forward-looking information identified herein. Actual results could differ materially from those anticipated in this forward-looking information as a result of, among other things, risks inherent in the performance of assets; applicable laws and regulations and the interpretation and manner of enforcement of such laws and regulations; changes to government policies; regulatory decisions; competitive factors; evolving market or economic conditions; credit risk; interest rate fluctuations; the availability and cost of labour, materials, services, and infrastructure; future demand for resources; the development and execution of projects; prices of electricity and natural gas; the risk of operational disruptions, outages, or force majeure events; the occurrence of unexpected events such as fires, extreme weather conditions, explosions, blow-outs, equipment failures, transportation incidents, and other accidents or similar events; global pandemics; the imposition of or changes to customs duties, tariffs or other trade restrictions; geopolitical tensions and wars; and other risk factors, many of which are beyond the control of the Company. Due to the interdependencies and correlation of these factors, the impact of any one material assumption or risk on a forward-looking statement cannot be determined with certainty. Readers are cautioned that the foregoing lists are not exhaustive. For additional information about the principal risks that are faced by the companies, see "Business Risks and Risk Management" in Management's Discussion and Analysis for ATCO Ltd. and Canadian Utilities Limited for the year ended December 31, 2024. Any forward-looking information contained in this news release represents management's expectations as of the date hereof, and is subject to change after such date. The companies disclaim any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
Yahoo
26-05-2025
- Business
- Yahoo
ATCO's Efficiency Initiatives to Save Alberta Utility Customers More Than Half a Billion Dollars
CALGARY, AB, May 26, 2025 /CNW/ - ATCO Ltd. (TSX: ACO.X) (TSX: ACO.Y)/Canadian Utilities Limited (TSX: CU) 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 Investor Inquiries: Colin Jackson Senior Vice President, Financial Operations 403-808-2636 Media Inquiries: Kurt Kadatz Director, Corporate Communications Media@ 587-228-4571 Forward Looking Information Advisory Certain statements contained in this news release constitute forward-looking information, including, but not limited to, references to reductions in natural gas and electricity distribution rates to be delivered to customers during the regulatory rate period from 2023-2028. Although we believe that the expectations reflected in the forward-looking information are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors, which may cause actual results, levels of activity, and achievements to differ materially from those anticipated in such forward-looking information. The forward-looking information reflects beliefs and assumptions with respect to, among other things, the applicability and stability of legal and regulatory requirements; continuing collaboration with certain business partners, and regulatory and environmental groups; the performance of assets and equipment; the ability to meet current project schedules, and other assumptions inherent in management's expectations in respect of the forward-looking information identified herein. Actual results could differ materially from those anticipated in this forward-looking information as a result of, among other things, risks inherent in the performance of assets; applicable laws and regulations and the interpretation and manner of enforcement of such laws and regulations; changes to government policies; regulatory decisions; competitive factors; evolving market or economic conditions; credit risk; interest rate fluctuations; the availability and cost of labour, materials, services, and infrastructure; future demand for resources; the development and execution of projects; prices of electricity and natural gas; the risk of operational disruptions, outages, or force majeure events; the occurrence of unexpected events such as fires, extreme weather conditions, explosions, blow-outs, equipment failures, transportation incidents, and other accidents or similar events; global pandemics; the imposition of or changes to customs duties, tariffs or other trade restrictions; geopolitical tensions and wars; and other risk factors, many of which are beyond the control of the Company. Due to the interdependencies and correlation of these factors, the impact of any one material assumption or risk on a forward-looking statement cannot be determined with certainty. Readers are cautioned that the foregoing lists are not exhaustive. For additional information about the principal risks that are faced by the companies, see "Business Risks and Risk Management" in Management's Discussion and Analysis for ATCO Ltd. and Canadian Utilities Limited for the year ended December 31, 2024. Any forward-looking information contained in this news release represents management's expectations as of the date hereof, and is subject to change after such date. The companies disclaim any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. SOURCE ATCO Ltd. View original content:
Yahoo
19-03-2025
- Entertainment
- Yahoo
Taste of Liberty event returns this weekend to showcase local flavors
LIBERTY TWP., Ohio (WKBN) – An event celebrating the collaboration of community is making its return in Trumbull County. The third annual Taste of Liberty event is happening Saturday at Liberty High School from 4 to 5:30 p.m. Various restaurants and businesses along Belmont Avenue come together to create a cultural feast. Plus, entertainment will be provided by Liberty students. 'I'd like to think it's anyone from Howland, Boardman and Canfield that maybe doesn't come up this way very often, they might want to come and try the huge variety of food that Liberty has to offer and maybe make this a destination for them to come by later down the road,' said Elaine Jacobs, with the Liberty School Alumni Association. Money raised from the event will go back to the schools. The event also gives restaurants in Liberty greater exposure. 'Be a part of the things that help the community run. You know, the football teams, the sporting events and events like this that bring people who maybe have no reason to come over here to see what we have to offer,' said Jason Sharpe, owner of Shakers Bar and Grill. Tickets for the event are $25. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
