AltaGas Ltd. Delivering superior returns Wednesday June 22, 2011
Forward-looking information Certain information presented today may constitute forward- looking statements with respect to AltaGas Ltd. Such statements reflect the Companys current expectations, estimates, projections and assumptions.…
AltaGas Ltd. (TSX:ALA) Diversified energy Financial strength infrastructure BBB (stable) credit rating Enterprise value 3 billion Bank liquidity of 975 million Natural gas gathering and Debt-to-total capitalization 43 processing…
Were a leading energy infrastructure company Gas Asset Base Growth 1.6 Bcf/d interests in six extraction 120 Mmcf/d Gordondale gas plant under facilities development 1.2 Bcf/d gas processing 250 Mmcf/d Harmattan Co-stream project…
2 billion of organic growth 5
Significant progress on capital growth plans Objective: 2 billion in organic growth (2010-2016) 2010 progress report: Approximately 1.4 billion in committed growth capital secured (includes 2010 - 200 million) Awaiting regulatory…
2010 Accomplishments Significant progress on executing our growth strategy Strong access to capital markets Our Growth Projects Business What Weve Accomplished This Year 60-yr EPA with BC Hydro and IBA signed with First Nations in…
Gas business growth focus Grow processing facilities to meet growing unconventional gas supply in Western Alberta and Northeast BC Source: Ziff Energy Group 8
Gordondale processing facility 120 Mmcf/d deep cut Encana processing agreement committing long-term supply Capital cost estimate: 235 million Phase I: 15 Mmcf/d processed by mid-2011 Phase II in-service: late-2012 Clearing…
The Montney is a good place to be - Gordondale 10
Younger extraction plant Licensed capacity 750 Mmcf/d Only fractionation plant in BC Owned 57 percent and operated by AltaGas Rail, truck and pipeline interconnectivity 30 percent interest in 250 Mmcf/d pipeline project to bring…
Abundant gas supply in Younger area 12
Optimizing assets - Harmattan Co-stream 250 Mmcf/d, 100 km pipeline increases throughput to near full capacity of 490 Mmcf/d Deep cut facility maximizes producer net-backs Positioned as a regional hub; rail, truck and pipeline…
Power business growth focus Harmattan Cogeneration II 15 MW gas-fired cogeneration In-service estimate: Q2 2012 Capital cost estimate: 24 million Sparwood waste heat recovery In-service estimate: Q1 2012 6 MW project, EPA with BC…
Run-of-river - NW Projects Forrest Kerr McLymont and Volcano Creek 195 MW capacity, in service mid-2014 Two developments totaling approximately 80 MW capacity 55 percent capacity factor In-service estimate: 2015-2016 60 year EPA…
Predictable, sustainable hydrological data 900 800 700 600 Discharge (m/s) Water flow used for generation 500 400 300 200 Design discharge of 252 m/s 100 Minimum release of 10 m/s 0 Jan Feb Mar Apr May…
Construction activities - Tunneling 17
Building a diversified power business Generation Capacity by Fuel Type 2010 2016E Capacity: 509 MW Goal: 1000 MW 18
Utility business growth focus 286 million 2010 rate base Rate base growth will drive earnings growth AUI 16 percent rate base growth in 2011 Heritage 25 percent rate base growth in 2011 Driven primarily by: Expansion of…
Growing and diversifying EBITDA Growing earnings Adding highly contracted, 6% 13% long-life infrastructure Unhedged Commodity Enhancing earnings stability 21% Hedged Commodity 16% 27% Fee for Service 22% Renewable Long…
Funding our 2011-2016 committed capital 1,100mm committed capital 1,200mm FCF (past 3 year average) 180mm DRIP 700mm dividends (at current rate) 1,000mm current bank liquidity* 1,800mm in uses 2,400mm in sources Ample…
Stable cash flow and earnings EBITDA: 244 million Operating income: 152 million Funds from operations: 195 million Net income: 97 million Normalized FFO payout: 56% Net income per share: 1.19 Dividend: 1.32 *TTM ending March…
Looking forward 2011 2012 Stronger results from all Projects in service: businesses Co-stream Gordondale Phase I Cogen II complete Waste heat recovery Younger pipeline complete Gordondale Higher deferred taxes (non- cash…
2011 Milestones Our growth projects Business Planned accomplishments for 2011 Complete access and surge tunnels, start construction Forrest Kerr Power on power-house, power tunnel and intake structure; 75 percent of costs…
AltaGas is a good place to be Strong, diversified asset base of gas, power Attractive portfolio of and utilities energy infrastructure Capital growth focused on stable, long-term contracted projects and regulated asset growth assets…
Forrest Kerr construction site 27
Headwork and intake area 28
Main & Construction Portal Area 29 29
Intake Area 30
Power Tunnel Construction Access 31
Construction activities - tunneling Total linear meters of tunneling: 4,870m Tunnel dimension: 10mX10m Three portals/access points Power tunnel intake Access tunnel Tailrace discharge Keys to successful tunneling: Powerhouse…
Excavation Map and Progress (May 31st) 33
Main Access Tunnel (Powerhouse Access)- Large Jumbo 34
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