We’ve established trusts with the National Energy Board (NEB) to ensure the responsible retirement of our assets once they have reached the end of their lifecycle.
Read more about the financial aspects of this process at the NEB website.
The amount to be collected and set aside each year is approved by the NEB. As of December 31, 2015, the balance of funds set aside in the trust accounts are provided in the 2015 Abandonment Funding Forms for individual pipelines viewable in the forms above.
We are required to collect and set aside funds for all of our federally regulated pipelines under NEB jurisdiction. This includes the Canadian Mainline, NGTL, Foothills and TQM natural gas pipeline systems and the Keystone oil pipeline system.
Our customers who transport natural gas and oil through our pipeline systems are levied a surcharge to cover costs associated with the abandonment of those pipelines. This surcharge is collected and protected in trusts established for each individual pipeline.
Yes. The NEB requires a periodic review process that includes public participation to ensure appropriate funds are collected for pipeline retirement. We also regularly assess our finances to ensure adequate funds will be available when needed.