- TransCanada (NYSE:TRP) is suing the gas distribution business of rival Enbridge (NYSE:ENB) over its decision to end an agreement that would see the two firms co-operate on a 23-km stretch of the Greater Toronto Area natural gas pipeline.
- ENB terminated its agreement with TRP last month, saying TRP was doling out space on its share of the pipeline in a manner ENB believed was against the law; TRP accuses ENB of terminating the deal “for its own convenience."
- At the urging of the Ontario Energy Board, the two companies had planned to work together to help accommodate growing energy demand in the Toronto area.