ALA.PR.U AltaGas Ltd

AltaGas Ltd. ("AltaGas") (TSX:ALA)(TSX:ALA.PR.A)(TSX:ALA.PR.U) announced today
that through its indirect wholly owned subsidiary AltaGas Power Holdings (U.S.)
Inc., it has successfully completed the acquisition of Blythe Energy, LLC
("Blythe"), which owns a 507 MW natural gas-fired combined cycle plant (the
"Blythe Energy Center"), associated major spare parts, and a related 230 kV
67-mile electric transmission line in Southern California, for US$515 million.


"Blythe is an important addition to our energy infrastructure portfolio and fits
well with our strategy," said David Cornhill, Chairman and CEO of AltaGas. "The
addition of natural gas-fired power generation in the US provides us with
another platform for growth to meet the increasing demand for clean sources of
energy and capitalize on the renaissance of natural gas."


The Blythe Energy Center is contracted under a Power Purchase Agreement ("PPA")
through to July 2020 with Southern California Edison. Contract provisions match
PPA revenues to all major plant costs.


The Blythe Energy Center is well positioned upon expiry of the PPA in 2020 to
contract with other market participants due to its location and ability to serve
both the California Independent System Operator and Desert Southwest markets.
The demand for cleaner energy sources, including natural gas, continues to be
strong across North America and is a key driver for potential future growth of
the Blythe Energy Center. Blythe is located on an owned 76-acre site which
provides a significant geographic footprint for potential future expansion.


The Acquisition is expected to be accretive to earnings and cash flow per share
in 2014, the first full year of ownership, and is expected to add approximately
$50 million in incremental contracted EBITDA per year.


AltaGas is an energy infrastructure business with a focus on natural gas, power
and regulated utilities. AltaGas creates value by acquiring, growing and
optimizing its energy infrastructure, including a focus on clean energy sources.
For more information visit: www.altagas.ca.


This news release contains forward-looking statements. When used in this news
release, the words "may", "would", "could", "will", "intend", "plan",
"anticipate", "believe", "seek", "propose", "estimate", "expect", and similar
expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended
to identify forward-looking statements. In particular, this news release
contains forward-looking statements with respect to, among other things,
business objectives, expected growth, results of operations, performance,
business projects and 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, general
economic conditions and other factors set out in AltaGas' public disclosure
documents. Many factors could cause AltaGas' actual results, performance or
achievements to vary from those described in this news release, including
without limitation those listed above. These factors should not be construed as
exhaustive. 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 news release as
intended, planned, anticipated, believed, sought, proposed, estimated or
expected, and such forward-looking statements included in, or incorporated by
reference in this news release, should not be unduly relied upon. Such
statements speak only as of the date of this news release. AltaGas does not
intend, and does not assume any obligation, to update these forward-looking
statements. The forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
AltaGas Ltd.
Investment Community
1-877-691-7199
investor.relations@altagas.ca


AltaGas Ltd.
Media
(403) 691-9873
media.relations@altagas.ca
www.altagas.ca

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