 | |
| Company type | Public |
|---|---|
| Traded as | TSX: CU |
| Industry | Electric Utilities |
| Headquarters | Calgary, Canada |
| Key people | Nancy Southern (CEO) |
| Revenue |  3,796 billion CAD (2023) |
| Net income |  717 million CAD (2023) |
| Total assets | 23,158 billion CAD (2023) |
| Number of employees | 8,000 (2023) |
| Parent | ATCO |
| Website | www.canadian-utilities.com |
Canadian Utilities Limited, a member of the ATCO Group of companies, is a Canada-based worldwide organization of companies with around $22 billion in assets and more than 8,000 employees.
Canadian Utilities has three business units:
- ATCO Energy Systems (previously Utilities): electricity and natural gas transmission and distribution, and international electricity operations. Areas served include northern and central-eastern Alberta, the Yukon, the Northwest Territories, the Lloydminster area of Saskatchewan, and international energy users. Its subsidiaries include:
- ATCO Electric
- LUMA Energy LLC (50 per cent ownership with Quanta Services), international electricity operations.
- ATCO Gas
- ATCO Pipelines
- ATCO Gas Australia
- ATCO EnPower (previously Energy Infrastructure): energy storage, electricity generation, industrial water solutions, renewables and 'next energy' - including hydrogen, ammonia, hydro, liquefied natural gas, natural gas, and carbon capture. Areas served include Alberta, the Yukon, the Northwest Territories, Ontario, Australia, Mexico, and Chile. Its subsidiaries include:
- ATCO Renewables (previously ATCO Power)
- ATCO Next Energy (previously ATCO Energy Solutions)
- ATCO Power Australia
- ATCO Energy: electricity and natural gas retail sales, and whole-home and business solutions. Includes Canadian Utilities Limited Corporate, and Other segments.
Canadian Utilities' controlling share owner is the Southern family.
Governance and Leadership
As of 2024, Canadian Utilities' Board of Directors was composed of:
| Name | Position & Time on Board | Background | Compensation (2023) |
|---|---|---|---|
| Matthias F. Bichsel | Corporate Director (2014-) | Executive Management, Shell plc; Senior Advisor, McKinsey & Co.; Vice-Chair, Sulzer Ltd.; Director, South Pole Ltd.; Director, Petrofac Ltd. | $220,000 CAD |
| Loraine M. Charlton | Corporate Director (2006-) | VP & CFO, Lintus Resources Ltd.; Director, AKITA Drilling Ltd.; Director, CU Inc. | $279,800 CAD |
| Robert J. Hanf | Corporate Director (2021-) | EVP & CLO, Emera Inc.; President & CEO, Nova Scotia Power; Chair, Barbados Light & Power Holdings; President & COO, Bangor Hydro Electric Company; Partner, McCarthy Tétrault LLP (Calgary); Director, LUMA Energy; Director, Mancal Corporation; Chair, Board of Governors, Dalhousie University; Director, Canadian Electricity Association; Director, Energy Council of Canada | $425,586 CAD |
| Kelly C. Koss-Brix* | Corporate Director (2023-) | Member, Canadian Equestrian Team; Director, Sentgraf Enterprises; Director, Spruce Meadows | $146,385 CAD |
| Robert J. Normand | Corporate Director (2008-) | Chair, Workers Compensation Board of Alberta; President & CEO, Alberta Treasury Branches (ATB); Executive, Bank of Montreal; Director, CU Inc. | $272,800 CAD |
| Alex J. Pourbaix | Corporate Director (2019-) | Executive Chair, Cenovus Energy; Co-Founder, Pathways Alliance; President & CEO, Cenovus; COO, TC Energy; Board Member, Business Council of Alberta; AB Regional Board, Nature Conservancy of Canada; Chair, Board of Governors, Mount Royal University; Chair, Canadian Association of Petroleum Producers; Chair, Canadian Energy Pipeline Association; Board Member, Business Council of Canada; Board Member, Trican Well Service Ltd. | $220,000 CAD |
| Hector A. Rangel | Corporate Director (2014-)
President, BCP Securities Mexico |
CEO, Nacional Financiera S.N.C.; CEO, Bancomext; Cabinet Member, President Felipe Calderon; Chair, Grupo Financiero Bancomer; President, Mexico Bankers Association; President, Mexican Business Council; Director, GNP Profuturo Afore; Director, GNP Seguros; Director, Fresnillo PLC; Director, LUMA Energy | $224,500 CAD |
| Laura A. Reed | Corporate Director (2014-) | Director, ATCO Australia Pty Ltd.; Chair, Spark Infrastructure Group; Board Member, Victoria Power Networks PTY; Board Member, SA Power Networks Partnership; Chair, Epic Energy South Australia Pty Ltd.; Board Member, Clean Energy Finance Corporation; Chair, ERIC Alpha Holdings Pty Ltd.; Director, Ausgrid; CEO & MD, Spark Infrastructure; CFO, Envestra Ltd.; Director, Bass Oil Ltd. | $284,055 CAD |
| Robert J. Routs | Corporate Director (2023-) | Director, ATCO Structures & Logistics Ltd.; Director, ATCO Australia Pty Ltd.; Director, Neltume Ports S.A.; Executive Board Member, Shell plc; Chair, Shell Canada; International Advisory Council, Development Board of Singapore; Chair, Royal DSM NV; Director, AECOM Technology Corporation | $208,443 CAD |
| Nancy C.Southern** | Chair & CEO, Canadian Utilities (1990-) | Chair & CEO, ATCO Ltd.; EVP, Spruce Meadows; Founding Director, AKITA Drilling Ltd.; Director, Sentgraf Enterprises Ltd.; Honorary Director, BMO Financial Group; Director, Rideau Hall Foundation; Honorary Chief of the Kainai; Member, The US Business Council; Member, American Society of Corporate Executives; Canadian Member, Trilateral Commission; Member, Business Council of Canada; Alberta Economic Recovery Council; Director & President, Swizzlesticks Enterprises Ltd. | $7,113 million CAD |
| Linda A.Southern-Heathcott** | Vice Chair, Canadian Utilities (2000-)
President/CEO,Spruce Meadows Ltd. |
President & CEO, Spruce Meadows; Founding Director & Executive Chair, AKITA Drilling Ltd.; Chair, Travel Alberta; Board Member, ATCO Structures & Logistics Ltd.; Board Member, Sentgraf Enterprises Ltd.; Honorary Lieutenant Colonel, King's Own Calgary Regiment | $228,000 CAD |
| Roger J. Urwin | Lead Director, Canadian Utilities (2020-) | Director, ATCO Ltd.; Chair, ATCO Australia Pty Ltd.; Vice-Chair, LUMA Energy; Group Chief Executive, National Grid plc; Chief Executive & MD, London Electricity; Chair, Utilico Investments Ltd.; Special Advisor, Global Infrastructure Partners; Chair, Alfred McAlpine plc; Commander, Order of the British Empire | $593,265 CAD |
| Wayne G.Wouters | Corporate Director (2019-) | Strategic & Policy Advisor, McCarthy Tétrault LLP; Director, BlackBerry Ltd.; Director, Foran Mining Corporation; Clerk of the Privy Council & Secretary to the Cabinet; Secretary, Treasury Board of Canada; Deputy Minister, Human Resources Development; Deputy Minister, Labour; Deputy Minister, Fisheries and Oceans | $220,000 CAD |
* Daughter of Nancy Southern, Chair/CEO; ** Majority Share Owner and 1/3 Trustees of the Spousal Trust
As of 2024, Canadian Utilities' Executive Leadership was composed of:
| Name | Position | Background | Compensation (2023) |
|---|---|---|---|
| Nancy C. | Chair & CEO | --- | $4,925 million CAD |
| James D. Armstrong | SVP, Technology &
Global Security |
Chief Security & Chief Data Officer, Shaw Communications; | |
| Melanie L. Bayley | President, | Board Member, Western Energy Institute; Board Member, Canadian Electricity Association; Board Member, Drake Landing Solar Community | |
| Kyle M.
Brunner |
SVP, General Counsel & Corporate Secretary | VP, General Counsel, & Corporate Secretary, Seven Generations Energy Ltd. | |
| P. Derek Cook | SVP & Controller | VP, ATCO Gas; CFO, ATCO Australia; VP, Controller, ATCO Group | |
| Lisa Cooke | SVP & CMO | VP Brand, Advertising & Marketing, Shaw Communications/Freedom Mobile; | |
| Colin R. Jackson | SVP, Finance, Treasury & Sustainability | Valuation & Business Modelling, Ernst & Young | |
| M. George
Contantinescu |
EVP & Chief
Transformation Officer |
Chair & CEO, ORTHOSHOP Geomatics Ltd.; CEO, OGEO Ltd.; Board Member, Artificial Pancreas Technologies Inc.; Senior Manager of Corporate Development, ATCO Group | |
| John Ivulich | CEO & Country Chair,
ATCO Australia |
Group Financial Controller, Westnet Infrastructure Group | |
| Bob
J. Myles |
COO, ATCO
EnPower |
COO Industrial, Stuart Olson Ltd.; President & CEO, Tartan Canada Corporation; SVP, ATCO; President, ATCO Pipelines; Director, WaterSMART; Chair, Canadian Energy Pipelines Association; Director, Petroleum Joint Venture Association; Chair, Canadian Gas Processors Association | $1,840 million CAD |
| Brian P.
Shkrobot |
EVP & CFO | Staff Auditor, Office of the Auditor General of Alberta; Business Analyst, Syncrude; Controller, ATCO Electric | $1,099 million CAD |
| Katie
J. Patrick |
EVP & CFO (2024-) | EVP & CFIO, ATCO Ltd.; Director, Mergers & Acquisitions, Bunge; Director, Strategic Initiatives, Viterra; Investment Banking Associate, RBC Capital Markets; Investment Banking Analyst, Lehman Brothers | $1,485 million CAD |
| Becky
A. Penrice |
EVP, Corporate
Services |
Chair, BGC Canada; CEO, Sears Canada; SVP HR, Hudson's Bay Company; Corporate HR, Lord & Taylor; Task Force Chair, Business Council of Alberta; Sponsor, World Vision; President, Sears Canada Charitable Foundation | $1,171 million CAD |
| D. Jason
Sharpe |
President, ATCO Gas
& Pipelines |
Vice-Chair, Canadian Gas Association; Director, Canadian Energy Pipeline Association; Board Member, Pipeline Research Council International; Board Member, Van Horne Institute | n/a |
| Wayne K.
Stensby |
COO, ATCO
Energy Systems |
President & CEO, LUMA Energy; COO & MD, ATCO Australia | $2,617 million CAD |
| Clinton G. Warkentin | EVP & CIO, ATCO
Energy Systems |
Commercial Lead, ATCO Australia; CFO, Certarus Ltd.; VP Treasurer, EarthFirst Canada Inc.; Advisor to the CFO, North America Oil Sands Corporation; VP & Treasurer, Superior Plus Income Fund; VP Corporate & Investment Banking Group, TD Bank Group | |
| Marshall F.
Wilmot |
President, Retail &
Chief Digital Officer |
President, Rümi; President, ATCOenergy; Chief Loyalty Officer, WestJet; VP Marketing, Rogers Communications; COO, Banyan Corporation; VP Marketing, FGL Sports Ltd.; VP, Canadian Airlines International |
References
- "Canadian Utilities | About Us". www.canadianutilities.com. Retrieved 2024-05-08.
- "Our Businesses". www.canadianutilities.com. Retrieved 2024-05-08.
- Canadian Utilities, ATCO Group (31 December 2023). "Annual Financial Statements" (PDF).
- Canadian Utilities, ATCO Group (11 March 2024). "Management Proxy Circular (AGM)" (PDF).
- Belliveau, Emilia (2024-01-26). "Alex Pourbaix: The Big Oil Spindoctor". Environmental Defence. Retrieved 2024-05-08.
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