More on positve earnings Press Release: AltaGas' Third Quarter Results Saw Strong Performance from the Midstream Business Driven by RIPET and the Advancement of its Energy Export Strategy
Dow Jones News7:45 AM Eastern Daylight Time Oct 30, 2019 The Midstream segment delivered strong results with normalized EBITDA growing by approximately 95 percent to $127 million compared to $65 million in the prior year. The first full quarter of operations at RIPET contributed approximately $37 million of normalized EBITDA. During the quarter RIPET averaged two ships exported per month to Asian markets. Volumes delivered to RIPET averaged approximately 40,000 bbl/d. -- Subsequent to quarter end, AltaGas' subsidiary Washington Gas, received an Approved Rate Case Settlement Agreement in Maryland, approving an increase in annual revenues of US$27 million with a return on equity of 9.7 percent. These rates became effective October 15th.