TransCanada Disappointed with NEB's Rejection of Mainline Tolls Decision Changes

TransCanada Disappointed with NEB's Rejection of Mainline Tolls Decision Changes 
CALGARY, ALBERTA -- (Marketwired) -- 06/12/13 -- TransCanada
Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) has received the
National Energy Board (NEB)'s decision to reject TransCanada's
request for review and variance of the NEB's previous decision
released March 27, 2013 related to TransCanada's 2012-2013
restructuring proposal for tolls and service on the Canadian
Mainline.  
On June 11, the NEB informed TransCanada that it is dismissing the
company's review and variance application in its entirety. The NEB's
letter advised that its reasons for dismissing the application will
follow at a later date. Although the NEB dismissed the application,
it set a separate process for consideration of the tariff revisions
that were included in the review and variance application. 
"We are very disappointed that the NEB rejected our review and
variance application without the opportunity for a full hearing and
without issuing rationale for its rejection," TransCanada President
and CEO Russ Girling said. "Our application was specifically designed
to work within the new regulatory framework established by the NEB in
its March 27 decision without trying to undo it."  
The NEB's March 27 decision created a new model for the Mainline's
tolls that is a departure from what TransCanada applied for and from
the regulatory framework that has been in place for decades.  
In its review and variance application filed May 1, 2013, TransCanada
asked the NEB to adjust the five-year Empress to Dawn toll from
$1.42/GJ to $1.52/GJ as well as the other tolls that are derived from
the long-haul toll, approve tariff revisions required for
implementation of the decision model, establish a surcharge
methodology for recovery of future new costs that may be imposed
during the five-year fixed toll period and change the implementation
date of the decision from July 1, 2013 to November 1, 2013. 
TransCanada is considering its future options including potential
appeal. 
With more than 60 years' experience, TransCanada is a leader in the
responsible development and reliable operation of North American
energy infrastructure including natural gas and oil pipelines, power
generation and gas storage facilities. TransCanada operates a network
of natural gas pipelines that extends more than 68,500 kilometres
(42,500 miles), tapping into virtually all major gas supply basins in
North America. TransCanada is one of the continent's largest
providers of gas storage and related services with more than 400
billion cubic feet of storage capacity. A growing independent power
producer, TransCanada owns or has interests in over 11,800 megawatts
of power generation in Canada and the United States. TransCanada is
developing one of North America's largest oil delivery systems.
TransCanada's common shares trade on the Toronto and New York stock
exchanges under the symbol TRP. For more information visit:
www.transcanada.com or check us out on Twitter @TransCanada or
http://blog.transcanada.com.  
FORWARD LOOKING INFORMATION This publication contains certain
information that is forward-looking and is subject to important risks
and uncertainties (such statements are usually accompanied by words
such as "anticipate", "expect", "would", "will" or other similar
words). Forward-looking statements in this document are intended to
provide TransCanada security holders and potential investors with
information regarding TransCanada and its subsidiaries, including
management's assessment of TransCanada's and its subsidiaries' future
financial and operation plans and outlook. All forward-looking
statements reflect TransCanada's beliefs and assumptions based on
information available at the time the statements were made. Readers
are cautioned not to place undue reliance on this forward-looking
information. TransCanada undertakes no obligation to update or revise
any forward-looking information except as required by law. For
additional information on the assumptions made, and the risks and
uncertainties which could cause actual results to differ from the
anticipated results, refer to TransCanada's Quarterly Report to
Shareholders dated April 25, 2013 and 2012 Annual Report filed under
TransCanada's profile on SEDAR at www.sedar.com and with the U.S.
Securities and Exchange Commission at www.sec.gov and available on
TransCanada's website at www.transcanada.com.
Contacts:
TransCanada
Media Enquiries:
Shawn Howard/Grady Semmens
403.920.7859 or 800.608.7859 
TransCanada
Investor & Analyst Enquiries:
David Moneta/Lee Evans
403.920.7911 or 800.361.6522
www.transcanada.com