On September 18, 2006, TC PipeLines, LP announced that Northern Border Pipeline Company reached a settlement with its participant customers regarding its pending rate case before the Federal Energy Regulatory Commission (FERC). The filed settlement establishes maximum long-term rates and charges for transportation on the Northern Border system. Northern Border expects the approval process to be completed by late 2006.  TC PipeLines, LP’s general partner, TransCanada Corporation, will become the operator of Northern Border effective April 1, 2007.

For further information on this settlement, please refer to the News Release.