Last $48.79 USD
Change Today 0.00 / 0.00%
Volume 485.4K
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As of 5:15 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

transcanada corp (TRP) Key Developments

The National Energy Board Approves TransCanada's Tariff and Tolls Application

The National Energy Board announced that it has approved TransCanada's application for approval of 2015 to 2030 Tolls. The components of the application reflected a settlement between TransCanada Corporation (TransCanada) and local natural gas distribution companies in Ontario and Qubec. Approval of the application enables the addition of natural gas pipeline capacity to meet current and future affordable energy needs of Eastern gas consumers. The settlement also ensures just and reasonable rates for all Mainline shippers, and provides a reasonable opportunity for the Mainline to recover its system-wide costs. The agreement between TransCanada, Union Gas Limited, Gaz Metro Limited Partnership and Enbridge Gas Distribution Inc. was previously announced in September 2013. It gives all shippers the flexibility to source gas from various geographic locations including the Marcellus shale plays in the U.S., while ensuring that tolls are stable and set at levels that allow TransCanada to recover its system-wide costs. Highlights of the approved application include: TransCanada’s commitment to add increased pipeline capacity that allows Eastern markets more access to Dawn and Niagara area supplies. Renewal provisions that will give TransCanada the tools to gain more certainty over capacity requirements. Continued pricing discretion. Revenue requirement and return. Segmented tolling structure.

TransCanada Corporation Approves Amendments to By-Law No. 1

TransCanada Corporation announced that its Board of Directors approved amendments to By-law No. 1 of TransCanada (collectively the By-law Amendments) on November 3, 2014. TransCanada believes that strong corporate governance improves corporate performance and benefits shareholders. Among other things, the By-law Amendments: establish a framework for advance notice of nominations of directors by common shareholders of TransCanada (the Advance Notice By-law); increase the quorum requirements for TransCanada shareholders' meetings to two or more persons holding or representing at least 25% of the eligible vote from a 20% threshold; increase the quorum requirement for TransCanada directors' meetings from four directors to a majority of the directors; remove the casting vote previously granted to the chair for both directors' and shareholders' meetings and provide the Board of Directors with the ability to ensure the legality of proxies and voting rights, and the chair the ability to adjourn any shareholders' meeting at any point during the meeting if appropriate.

TransCanada Corp. - Special Call

To discuss the results of the U.S Senate vote on Keystone XL and the fundamental reasons why the pipeline is in the national interest of the United States and should be built

TransCanada Urged By Investor Sandell To Expand MLP

TransCanada Corp. (TSX:TRP) should sell all U.S. assets to the master-limited partnership it controls and spin off its power-generation business to boost its share price, activist investor Sandell Asset Management Corp. said.

TransCanada Corporation Moving Forward with its Vaughan Pipeline Project and Associated Facilities Within Eastern Triangle Portion of the Canadian Mainline System

TransCanada Corporation announced that it is moving forward with its Vaughan pipeline project and associated facilities as part of $475 million in pipeline and facility expansions within the Eastern Triangle portion of the Canadian Mainline system. This is the next step of development for natural gas infrastructure in southern Ontario and is the result of collaboration between TransCanada, Enbridge Gas Distribution, Gaz Metro and Union Gas. Construction of TransCanada's Kings North Connection, Parkway West Connection and Hamilton Area Project are expected to cost about $255 million and be in-service in November 2015. The Vaughan pipeline and associated facilities are expected to cost approximately $220 million and be in-service in November 2016. These projects are backed by long-term, binding agreements and have been developed to respond to changing market needs. All of these projects are subject to regulatory approval.


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