 TransCanada announced on Feb. 26, 2007 it has reached a five-year settlement with its customers and other interested parties regarding 2007 tolls and costs for years 2008 to 2011 on its Canadian Mainline natural gas transmission system. The settlement is supported by an unopposed resolution of TransCanada’s Tolls Task Force.
“With this settlement, TransCanada has continued our collaborative relationship with customers,” said Hal Kvisle, TransCanada’s chief executive officer. “TransCanada will achieve increased equity earnings and additional revenues through performance in various incentive programs, while customers will benefit from lower tolls and share the benefit of incentive program outcomes.”
The performance-based incentive arrangements, similar to those agreed to in the 2006 settlement, are focused on aligning interests in achieving cost savings and increased value, thereby providing mutual benefits to both TransCanada and its customers.
The Canadian Mainline will remain on interim tolls until the settlement is approved by the NEB. With NEB approval, the terms of this settlement will be effective Jan. 1, 2007 for five years. TransCanada will apply to the NEB for approval of this settlement in the near future.
For more information, contact Heather Poole directly at 403.920.5570. |
