John Miller

Forward-looking information
This presentation contains forward-looking statements. When used in this presentation the words “may”, “would”, “could”, “will”,
“intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions, as they relate to AltaGas or
any affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this presentation contains forward-looking
statements with respect to, among others things, business objectives, expected growth, results of operations, performance, business
projects, 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 forward-looking 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, changes in tax legislation, general economic
conditions and other factors set out in AltaGas’ public disclosure documents. Many factors could cause AltaGas’ or any of its
business segments’ actual results, performance or achievements to vary from those described in this presentation, including without
limitation those listed above as well as the assumptions upon which they are based proving incorrect. These factors should not be
construed as exhaustive. Factors which could cause results or events to differ from current expectations are: capital resources and
liquidity risk, market risk, commodity price risk, operational risk, volume declines, weather, construction, counterparty risk,
environmental risk, regulatory risk and labour relations. 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
presentation as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking
statements included in this presentation herein should not be unduly relied upon. These statements speak only as of the date of this
presentation. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements except as
required by law. The forward-looking statements contained in this presentation are expressly qualified as cautionary statements.
Financial outlook information contained in this presentation about prospective results of operations, financial position or cash flows is
based on assumptions about future events, including economic conditions and proposed courses of action, based on management’s
assessment of the relevant information currently available. Readers are cautioned that such financial outlook information contained
in this presentation should not be used for the purposes other than for which it is disclosed herein. Additional information relating to
AltaGas can be found on its website at The continuous disclosure materials of AltaGas, including its annual MD&A
and Consolidated Financial Statements, Annual Information Form, Information Circular, and Proxy Statement, material change
reports and press releases, are also available through AltaGas’ website or directly through the SEDAR system at
See "Forward-Looking Statements & Information"
We’re a leading energy infrastructure company
• Listed on TSX (ALA)
• Enterprise value ~$7.4
• 5 Utilities serving over
540,000 customers in the
U.S. and Canada
• 1,372 MW of Power
Generation in five fuel
• Gas processing – touching
over 2 Bcf/d
Diversified markets and business segments
Northwest Projects
• Three run-of-river projects
totalling 277 MW
o Forrest Kerr 195 MW
o McLymont Creek 66 MW
o Volcano Creek 16 MW
Total investment ~$1.0 billion
Long-term Energy Purchase
Agreements with BC Hydro
Impact Benefit Agreements
in place with Tahltan First
Construction started in 2010
will take 5 years to complete
all three projects
See "Forward-Looking Statements & Information
BC Hydro 344 km
287 kV
Transmission Line
Northwest Projects – Forrest Kerr history
1970s –
BC Hydro investigates site for potential development of large 800 MW dam
Mid 1990s
Site is investigated as a potential power source of 30 MW for a mine development
2000 – 2001
Coast Mountain Hydro initiates investigations for the site as independent power
2003 – 2004
Environmental Assessment Certificate issued for 112 MW facility @156 m3/s
diversion flow
NovaGold acquires Coast Mountain to support its Galore Creek mine development
NovaGold sells Coast Mountain assets to AltaGas Ltd.
2008 – 2010
195 MW Project with 252m3/s diversion flow fully permitted by AltaGas, an EPA in
place with BC Hydro and Participation Agreement is signed with Tahltan First Nation
In mid-2010 AltaGas began construction of the Forrest Kerr Project
Forrest Kerr – Project Overview
Completing Forrest Kerr
Key Parameters/ Components
• 100m gross head
design flow
• 2 @10m L x 7m H Obermeyer Weir
• Intake and de-sanding basin
• Over 5 km of tunnels - largest is power
tunnel 10m dia. 3km L
• Underground powerhouse
144m L X 17m W X 27m H
• 4m dia. ~130m L vertical bus shaft
• 9 @ 22 MW Andritz Horizontal Francis
Power Tunnel
• 40km 287 kV Transmission line
• 300+ man camp and related facilities
• COD Mid-2014
• Capital cost estimate: $725 million
Forrest Kerr Contractors/Suppliers
Over 170 suppliers major contractors include:
Tahltan Nation Development
Corp. (site prep. civil support)
Procon Mining (Excavation)
Obermeyer Hydro (Weir)
Turbine Pro ( Installation)
Andritz Hydro (Turbines,
Generators supply)
AFI Hydro (gates/ hoist)
Formula Contractors (civil etc.)
WestPro (civil etc.)
CG Power/ Alstom (Transformers)
Hitachi Power Sys.(Penstock)
Valard Construction (T/L)
PDI Solutions (Cranes)
Hatch Engineering
Northwest Hydraulics
Intake Structure
Forrest Kerr Weir
January 2013
May 2013
Sediment Chamber
Intake Sluice Channel
Forrest Kerr Underground Powerhouse
Fall 2012
Fall 2013
26 MVA Generators
Switchgear Panels
Forrest Kerr (on schedule and budget)
Keys to Success
Permitting / approvals
First Nations / community
Cost control and mgt.
Remote location / weather
Securing and retaining labour
in a remote site
Early and on-going community
and First Nations engagement
Unique configuration
Self performing project
execution with a strong site
mgt. team that has decision
making authority and support
Full service camp, individual
rooms, strict camp policies
Securing workers from across
the country
Balance sheet financing

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