North American pipeline giant TC Energy announced its U.S.-based Columbia Gas Transmission subsidiary filed a rate case July 31 to recoup $3 billion in capital and operational expenses on the company’s Columbia Gas Transmission system. The filing marks the subsidiary’s first Section 4 rate case in more than 20 years and would enable Columbia to move forward on Phase III of its ongoing modernization program. TC says it will have invested more than $2.5 billion in Columbia system enhancements by year end since acquiring it in 2016. The third leg of the program is expected to take place over the next seven years without the need to file additional rate cases.
TC Energy Corporation is a major North American energy company, based in Calgary, Alberta, Canada, that develops and operates energy infrastructure in Canada, the United States, and Mexico. The company operates three core businesses: Natural Gas Pipelines, Liquids Pipelines and Energy.
Columbia Gas Transmission transports 3 BCFD of natural gas through more than 12,550 miles of pipeline that extend from N.Y., to the Midwest and Southeast, and includes 30 storage locations in four states with nearly 630 BCF of capacity. TC Energy’s natural gas pipelines in Canada, the U.S., and Mexico represent the company’s largest business segment. Other interests include liquids pipelines and power generation.
Despite decades-long starts and stops on its embattled Keystone XL pipeline extension, Alberta-based TC Energy wrapped up the first half of 2020 declaring a total net income of $2.4 billion in Q1 and Q2, compared to $2.1 billion at the same time last year. Following the most recent halt of Keystone XL, the Trump Administration now has approved a 29% increase in shipments of Canadian crude along the existing Keystone Pipeline to feed Midwest and Gulf Coast refineries.
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