TransCanada ends Mainline open season, open season bids fall short

CALGARY – TransCanada Corp. (TSX:TRP) says it’s not going ahead with a plan for new lower-priced long-term contracts for Alberta natural gas shippers that want to use its Canadian Mainline system.

The company says the “open season” resulted in bids that fell well short of the volumes required to make the plan viable.

The Canadian Mainline system extends from the Empress receipt point in Alberta to the Dawn hub, near Sarnia, Ont.

The proposal for a new round of binding commitments did not affect current contracts already in place for the system.

TransCanada says the Canadian Mainline system continues to be commercially supported and an important piece of energy infrastructure.