Newspaper article The Canadian Press

TransCanada Asks Shippers to Support New Natural Gas Pipeline Tolls

Newspaper article The Canadian Press

TransCanada Asks Shippers to Support New Natural Gas Pipeline Tolls

Article excerpt

Shippers polled on cheaper natural gas tolls

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CALGARY - TransCanada (TSX:TRP) is proposing a new pipeline tolling system it says will allow western Canadian natural gas to be shipped to Ontario at lower rates to better compete with growing American supplies.

The Calgary-based energy transport company is inviting shippers to sign long-term binding commitments by March 9 to move gas on its underutilized Canadian Mainline system from a shipping centre in Alberta to a hub in southern Ontario.

Financial analysts say they expect the deal will garner enough support from shippers to convince TransCanada to proceed with seeking regulatory approval from the National Energy Board, despite the shippers' rejection of a similar attempt last year.

Analyst Robert Kwan of RBC Dominion Securities points out in a report that the proposed toll of 77 cents per gigajoule of natural gas, starting as early as November, would represent a big saving over current Mainline tolls of about $1. …

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