Strong Operational Performance in Q3
AltaGas reported an 18% year-over-year increase in normalized EBITDA, achieving $268 million. Record global export volumes were over 133,000 barrels per day, with year-to-date volumes up 4%.
New Growth Projects and Investments
Three new growth projects were announced, including REEF Optimization One and Dimsdale gas storage facility expansion, with a combined investment of over $200 million. These projects are backed by strong demand.
Successful Project Execution
Pipestone II reached mechanical completion and remains on track for full operation by late 2025. The REEF project is 60% complete, with significant progress in construction.
Positive Regulatory and Financial Developments
Advancements in rate cases in Virginia and D.C., with a reduction of 5% in O&M costs at WGL. A $200 million issuance of hybrid notes resulted in $30 million cash savings over five years.