Elk Point REA Members Vote to Sell to ATCO Electric
09 Ottobre 2012 - 9:15PM
Marketwired
ATCO Electric
At a special general meeting held Sept. 5, 2012 the members of
the Elk Point Rural Electrification Association (REA) voted 87 per
cent in favour of a motion to sell their electric distribution
system to ATCO Electric pending approval by the Alberta Utilities
Commission and all sale conditions being met. Upon completion of
the sale, each member will receive just over $19,000 for each site
they own. The motion to sell was based on an ATCO Electric purchase
proposal requested by the Elk Point REA Board of Directors.
"It has been a great honour to be an REA for the past 57 years
and to have had a part in bringing electricity to rural Alberta,"
said Ed Smith, President, Elk Point REA. "It was time for us to
explore our options for the future and to present them to the
membership. By selling to ATCO Electric, we will have lower monthly
distribution rates and the peace of mind that we will continue to
receive reliable electrical service for generations to come."
"We have been privileged to serve the Elk Point REA and its
membership since it was first formed back in 1955 and to have
developed strong ties to the community," said Brent Kobelka,
Manager, Southeast Region, ATCO Electric. "On behalf of ATCO
Electric, I would like to applaud all Elk Point REA members who
have served on the Board over the years for their work to build and
maintain their electrical system. We appreciate the opportunity
this sale brings us to continue to serve them and the rest of the
membership."
A rural electrification association is a not-for-profit
cooperative that owns an electrical distribution system and
supplies electric energy to members in a rural region of
Alberta.
ATCO Electric provides safe, reliable delivery of electricity to
nearly 213,000 customers in 245 communities across Alberta and is
part of the ATCO Group of Companies. ATCO Group, with more than
8,800 employees and assets of approximately $13 billion, delivers
service excellence and innovative business solutions worldwide with
leading companies engaged in structures & logistics
(manufacturing, logistics and noise abatement), utilities
(pipelines, natural gas and electricity transmission and
distribution), energy (power generation, natural gas gathering,
processing, storage and liquids extraction) and technologies
(business systems solutions). More information can be found at
www.atco.com.
Contacts: Elk Point REA Ed Smith President 780-724-3116
Contacts: ATCO Electric Corporate Communications 780-288-7621 (24
hours) www.atco.com
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