Alberta Contract ExtensionThere'e the reason for the halt...
CALGARY , Aug. 29, 2013 /CNW/ - Axia announces that, as part of its overall strategy for Alberta, continuity of services has been assured for its public and private sector customers. Axia's agreement with the Government of Alberta (GOA) has been extended from July 1, 2015 to June 30, 2018 (the Extension Period), on substantially the same terms as those governing the initial 10-year contract period.
Art Price , Chairman and CEO of Axia, commented "Together with other initiatives, we are confident that this extension will lead to long-term growth for Axia in Alberta. We are pleased that the GOA has chosen to continue to work with Axia in maintaining and enhancing Alberta's province wide open access next generation network and look forward to continuing our long term relationship with the GOA for the benefit of all Albertans. This network provides a compelling alternative to traditional broadband service providers fostering competition across the province. "
Concurrently, Axia and Bell Canada (Bell) have executed an amendment to their existing agreements, effective July 1, 2015 , to reflect standard commercial terms based on market rates. During the Extension Period, Axia will pay to Bell approximately $6M per year for current services which fee is adjustable for an increase in services purchased.