Shareholders of TransCanada Corp. will vote this spring on a management proposal to change the company’s name to TC Energy.
The switch was announced Wednesday at an event that stood out as a reminder that the firm has grown to span beyond Canada during a staff and contractor meeting in Mexico City.
“TC Energy better reflects the breadth of our business,” President Russ Girling said.
“We believe the name TC Energy clearly articulates our complete business — pipelines, power generation and energy storage operations — and reflects our continued continental growth into an enterprise with critical assets and employees in Canada, the United States and Mexico.”
The new name also would work in all three major North American languages.
“Whether they know us as TC Energy in English, TC Ã‰nergie in French, or TC EnergÃa in Spanish, the communities where we operate can continue to count on us,” Girling said.
The change is scheduled to take effect as soon as the annual spring shareholder meeting votes approval.
TC Energy would be the third name for the firm, which started life as TransCanada Pipe Lines Ltd. to build a cross-country natural gas conduit in the 1950s. The company’s stock exchange identity would remain “TRP.”
Energy companies have rebranded from time to time for various reasons, either via mergers or to note their expanded scope.
For example, Calgary-based Encana Corp. was formed in 2002 with the merger of Canadian operators Alberta Energy Co. Ltd. and PanCanadian Energy Corp., which created at the time the largest independent natural gas producer in North America.
Norway-based supermajor Equinor SA, formerly Statoil SA, whose North American portfolio stretches from Canada’s offshore to the Gulf of Mexico, last year rebranded to reflect a broader energy strategy that elevated alternative energy and downgraded fossil fuels. “Equinor” combined “equi” (equal, equality and equilibrium) and “nor,” a nod to its Norwegian roots.
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