TC Energy

TC Energy in its application of the Dawn Long Term Fixed Price service

Client

TC Energy

Value

$2 billion

Service

Regulatory, Environmental, Aboriginal & Land

Date Closed

September 2017

Industry

Energy

Lead Office

Calgary

 

The Dawn LTFP application was for a new long-term firm transportation service on the TransCanada Mainline from the Alberta/Saskatchewan border to the Dawn hub in southern Ontario. The service was negotiated between TC Energy and 23 natural gas producers in the Western Canada Sedimentary Basin for a total volume of 1.5 petajoules per day (PJ/d) at a fixed toll of $0.77 per gigajoule (Gj) per day for a term of 10 years, representing approximately $2 billion in net revenues to the Mainline over the contract term. The application was contested by several existing shippers on the Mainline and was subject to a public hearing process before the National Energy Board (NEB). The NEB approved the Dawn LTFP service as applied-for on September 21, 2017.

Osler, Hoskin and Harcourt LLP represented TC Energy with a team consisting of Shawn Denstedt and Sander Duncanson (Regulatory, Environmental, Aboriginal and Land).