TransCanada Reaches Settlement on Natural Gas Service With Local Distribution Companies in Eastern Canada

TransCanada Reaches Settlement on Natural Gas Service With Local Distribution 
Companies in Eastern Canada 
CALGARY, ALBERTA -- (Marketwired) -- 09/13/13 -- TransCanada
Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that
it has reached a settlement with local natural gas distribution
companies (LDCs) in Ontario and Quebec in connection with the access
to Dawn and Niagara supplies and long-term tolls that will allow
TransCanada to provide customers with the flexibility to source gas
from various geographic locations while ensuring that the tolls for
the Mainline are set at levels that recover the costs of providing
that flexibility.  
TransCanada has reached an agreement with Union Gas Ltd., Gaz Metro
Limited Partnership and Enbridge Gas Distribution Inc. that will
allow for the development of new capacity through the Parkway to
Maple transportation corridor near Toronto. This will result in rate
stability on the Mainline with contracts that fully recover
TransCanada's costs of providing Mainline natural gas transmission
service in the Eastern Triangle. The agreement provides resolution to
outstanding disputes between TransCanada and the LDCs relating to
tolls and services in the region. 
"I am very pleased that we were able to reach a mutually-agreeable
solution that allows for the expansion of the Eastern portion of our
system to meet the changing needs of Ontario and Quebec,"
TransCanada's President and CEO Russ Girling said. "It takes
significant time and effort to work out these agreements and I would
like to thank the parties involved for the commitment to finding a
workable solution." 
As part of the settlement, TransCanada is committed to providing
natural gas pipeline capacity to meet all current and future needs of
Eastern gas consumers. 
"We are in the gas transmission business, and we have consistently
said that we will ensure there is sufficient capacity to meet the
needs of our contracted gas customers," Girling said. "Through
initiatives such as this settlement, we are pursuing innovative ways
to increase revenue and reduce costs from the Mainline and ensure
that it is utilized in the most efficient manner for the benefit of
natural gas producers, gas distributors and their consumers." 
Details of the settlement will be devel
oped in the coming weeks. 
TransCanada intends to immediately begin consulting with all
remaining Mainline stakeholders. The settlement must also receive
approval from the National Energy Board before being placed into
effect in January, 2015. TransCanada expects to file the necessary
regulatory applications by the end of 2013. 
While this agreement will increase consumers' access to affordable
energy, discussions between TransCanada and the three LDCs regarding
TransCanada's Energy East Pipeline project to convert a portion of
its Mainline system from natural gas to oil service are ongoing. 
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 July 26, 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
 
 
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