Pipelines

TransCanada Files Interim Toll Hike

TransCanada PipeLines filed applications with the NationalEnergy Board and the Alberta Energy and Utilities Board yesterdayfor significant interim toll hikes on its Canadian Mainline andAlberta natural gas transmission systems. The requested tolls wouldgo into effect Jan. 1, 2001.

December 8, 2000

Rockies Interest Grows for Producers, Pipelines

The Colorado Oil and Gas Commission says the state will issuemore than 1,400 permits for oil and gas drilling before the end ofthis year. In Wyoming, coal bed methane production has never beenmore active. The Rockies haven’t seen this much exploration sinceLewis and Clark were here. Today, the interest is underground, ascompanies map strategies to tap energy reserves.

November 6, 2000

Financial Brief

After being on the divestiture road for almost a year andshedding $3 billion worth of non-core assets, TransCanada PipeLinesLtd., reported that its first nine months of 2000 and third quartershowed progress over the equivalent time periods of 1999. Netearnings before asset sales and long-term natural gas contractlosses were $433 million ($0.91 per share) for the first ninemonths of 2000, compared to $402 million ($0.86 per share) duringthe same period last year. The company attributed the 8% increaseto higher income from the power and gas marketing businesses aswell as reduced financial and preferred equity charges. Beforeadding special items, the company posted third quarter net earningsof $151 million ($0.32 per share), compared to $141 million ($0.30per share) for the third quarter of 1999.Deliveries of natural gason the Canadian Mainline and the BC system were approximately thesame for the first nine months of 2000 and 1999. The CanadianMainline delivered about 7.3 Bcf/d for both periods, while the BCsystem delivered approximately 1.1 Bcf/d. The Alberta system didexperience a decline. For the first nine months of 2000 itdelivered an average of 12.2 Bcf/d, compared with the same periodduring 1999 when it delivered 12.4 Bcf/d. Marketing also stumbled abit, as the company marketed about 6.1 Bcf/d for the first ninemonths of 2000, compared to 6.6 Bcf/d for the first nine months of1999. TransCanada took a beating on some long-term natural gascontracts it had entered into to support various pipelineinvestments and other business initiatives. Due to growing naturalgas demand in Alberta, and excess pipeline capacity leaving theprovince, the price differential between the Western CanadaSedimentary Basin and eastern market areas continued to shrink.TransCanada was forced to enter into third party arrangements tocrystallize the negative value of its long term natural gascontracts and the company reported taking a $124 million after-taxcharge associated with the losses.

November 1, 2000

TCPL’s Asset Divestiture Target Rises to $3.45 Billion

TransCanada PipeLines Ltd. (TCPL) reported that it now expects proceeds from its non-core asset divestiture program to rise from the previous estimate of $3 billion to $3.45 billion. As a direct result of this, the company expects to record a positive $200 million after-tax adjustment to last year’s provision for discontinued operations in the third quarter of 2000.

October 16, 2000

TCPL Offers FT Service Open Season

TransCanada PipeLines Ltd. (TCPL) announced a one-year firmtransportation open season on its Canadian Mainline from Empress toseveral points. Bids will be accepted from until Oct. 12.

October 9, 2000

TransCanada Picks Up 5 Westcoast Cogeneration Plants

Calgary’s TransCanada Power LP, a unit of TransCanada Pipelines Ltd., last week said it was buying Westcoast Energy Inc.’s interest in five Canadian cogeneration plants in a deal valued at C$512 million. Westcoast, based in Vancouver, is expected to net C$75 million after taxes, and turn its attention toward its new power generation projects.

September 11, 2000

TransCanada Picks Up 5 Westcoast Cogeneration Plants

Calgary’s TransCanada Power LP, a unit of TransCanada Pipelines Ltd., is buying Westcoast Energy Inc.’s interest in five Canadian cogeneration plants in a deal valued at C$512 million. Westcoast, based in Vancouver, is expected to net C$75 million after taxes, and turn its attention toward its new power generation projects.

September 8, 2000

TransCanada Continues Asset Divestiture Program

TransCanada PipeLines Ltd. cashed in another large assetyesterday in its $3 billion divestiture program by sellingNorthridge Petroleum Marketing Ltd. (NPML) to CXY Energy Marketing,a subsidiary of Canadian Occidental Petroleum Ltd., for $40million, which includes working capital. The sale is expected toclose by the end of July.

July 12, 2000

Industry Briefs

TransCanada PipeLines has set an open season through tomorrow forone-year firm maximum rate capacity for 750,000 gigajoules a day fromEmpress to several points on its system. Bids will be accepted for FTcontracts to commence anytime between Nov. 1, 2000 and March 30,2001. The FT space is available to the Saskatchewan, Manitoba orEmerson zones, or there is 300,000 gj/d available to the Eastern Zone(SWDA). TransCanada is not considering annual short haultransportation in the current posting, but may do so in a futureposting. Also, if long haul FT offers are made after tomorrow’sdeadline, the pipeline may initiate a new open season. TransCanadacurrently is not authorized to offer discounted FT, but “we’re alwaysavailable to sell capacity.” Contact Keith Nelson at403-267-1691 or keith_nelson@transcanada.com for information and bidforms or to get on an email or fax list for future postings. Also,current rates, toll schedules, proforma contracts and information isavailable at www.transcanada.com/business/pdftariff

July 10, 2000

TransCanada Looks for Shippers

TransCanada PipeLines has set an open season through tomorrowfor one-year firm maximum rate capacity for 750,000 gigajoules aday from Empress to several points on its system. Bids will beaccepted for FT contracts to commence anytime between Nov. 1, 2000and March 30, 2001. The FT space is available to the Saskatchewan,Manitoba or Emerson zones, or there is 300,000 gj/d available tothe Eastern Zone (SWDA). TransCanada is not considering annualshort haul transportation in the current posting, but may do so ina future posting. Also, if long haul FT offers are made aftertomorrow’s deadline, the pipeline may initiate a new open season.TransCanada currently is not authorized to offer discounted FT, but”we’re always available to sell capacity.” Contact Keith Nelson at403-267-1691 or keith_nelson@transcanada.com for information.

July 10, 2000