TransCanada Announces Settlement on Nat-Gas Service with LDCs in Ontario, Quebec
TransCanada Corporation (NYSE: TRP) (TransCanada) today announced that it has reached a settlement with local natural gas distribution companies (LDCs) in Ontario and Quebec in connection with the access to Dawn and Niagara supplies and long-term tolls that will allow TransCanada to provide customers with the flexibility to source gas from various geographic locations while ensuring that the tolls for the Mainline are set at levels that recover the costs of providing that flexibility.
TransCanada has reached an agreement with Union Gas Ltd., Gaz Metro Limited Partnership and Enbridge Gas Distribution Inc. that will allow for the development of new capacity through the Parkway to Maple transportation corridor near Toronto. This will result in rate stability on the Mainline with contracts that fully recover TransCanada's costs of providing Mainline natural gas transmission service in the Eastern Triangle. The agreement provides resolution to outstanding disputes between TransCanada and the LDCs relating to tolls and services in the region.
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