real-time news and commentary for investors
Friday, Sep 13
TransCanada withdraws suit against Enbridge
- In addition to settling its dispute with eastern Canada gas distributors over mainline tolls, TransCanada (TRP) also withdraws its $4.5B lawsuit filed against Enbridge (ENB).
- Details of the arrangement have not been finalized, but the companies have "agreed to a tolling framework which will ensure market access and supply flexibility, while providing cost recovery for TransCanada."
- The deal paves the way for “resolution of all outstanding disputes” including the lawsuit TRP filed last month against ENB over development of a proposed 27-km stretch of natural gas pipeline near Toronto, the distributors say.