Canadian Utilities Limited Announces Increase to Preferred Share Issue

Canadian Utilities Limited announced today that as a result of strong investor
demand for its previously announced offering of Cumulative Redeemable Second
Preferred Shares Series DD, the size of the offering has been increased to
9,000,000 shares. The aggregate gross proceeds will now be $225,000,000. The
proceeds will be used for capital expenditures, to repay indebtedness and for
other general corporate purposes.


The Series DD Preferred Shares will be issued to the public at a price of $25.00
per share and holders will be entitled to receive fixed cumulative preferential
cash dividends, payable quarterly as and when declared by the Board of Directors
of the Corporation at an annual rate of $1.125 per share, to yield 4.50%
annually. On or after September 1, 2018, the Corporation may redeem the Series
DD Preferred Shares in whole or in part from time to time, at $26.00 per share
if redeemed during the 12 months commencing September 1, 2018, at $25.75 per
share if redeemed during the 12 months commencing September 1, 2019, at $25.50
per share if redeemed during the 12 months commencing September 1, 2020, at
$25.25 per share if redeemed during the 12 months commencing September 1, 2021,
and at $25.00 per share if redeemed on or after September 1, 2022.


The offering is being made only in the provinces of Canada by means of a
prospectus supplement and the closing date of the issue is expected to be on or
about May 15, 2013.


This news release does not constitute an offer to sell securities, nor is it a
solicitation of an offer to buy securities, in any jurisdiction. All sales will
be made through registered securities dealers in jurisdictions where the
offering has been qualified for distribution.


Canadian Utilities Limited, an ATCO company, with more than 7,100 employees and
assets of approximately $14 billion, delivers service excellence and innovative
business solutions worldwide with leading companies engaged in utilities
(pipelines, natural gas and electricity transmission and distribution), energy
(power generation, natural gas gathering, processing, storage and liquids
extraction) and technologies (business systems solutions). More information can
be found at www.canadianutilities.com.


Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking
statements. Forward-looking statements are often, but not always, identified by
the use of words such as "anticipate", "plan", "expect", "may", "will",
"intend", "should", and similar expressions. 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. The Corporation believes that the expectations reflected in the
forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct and such forward-looking statements
should not be unduly relied upon.


The Corporation's actual results could differ materially from those anticipated
in these forward-looking statements as a result of regulatory decisions,
competitive factors in the industries in which the Corporation operates,
prevailing economic conditions, and other factors, many of which are beyond the
control of the Corporation.


The forward-looking statements contained in this news release represent the
Corporation's expectations as of the date hereof, and are subject to change
after such date. The Corporation disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new information,
future events or otherwise, except as required under applicable securities
regulations.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Utilities Limited
B.R. (Brian) Bale
Senior Vice President & Chief Financial Officer
(403) 292-7502
www.canadianutilities.com

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