Latest news with #FrançoisPoirier
Hamilton Spectator
27-06-2025
- Business
- Hamilton Spectator
TC Energy commences collection of tolls on Southeast Gateway pipeline
CALGARY, Alberta, June 27, 2025 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it has commenced the collection of tolls from the Comisión Federal de Electricidad (CFE) for the Southeast Gateway pipeline and has been paid by the CFE for the month of May, on time in accordance with our contract. We continue to work with the newly constituted Comisión Nacional de Energía (CNE) to obtain the approval of our regulated rates as soon as possible, which is required to provide service to potential future interruptible service users on Southeast Gateway other than the CFE. The Southeast Gateway pipeline, a 1.3 Bcf/d, 715-kilometre natural gas pipeline, was constructed approximately 13 per cent under the original cost estimate in less than three years from the project's final investment decision. Southeast Gateway was the first significant energy infrastructure project constructed under our successful public-private partnership with the CFE. 'The successful completion of the Southeast Gateway pipeline reflects the unwavering commitment of our team, the CFE and the Ministry of Energy (SENER) to support Mexico's expanding energy demand and future economic development,' said François Poirier, TC Energy's President and Chief Executive Officer. To advance Mexico's economic growth and energy security, the Government of Mexico has announced plans to add approximately 8.5 gigawatts of newly installed capacity from natural gas power plants. The Southeast Gateway pipeline, along with the Company's other assets in Mexico, is positioned to play a vital role in supporting this initiative and the transition to lower-emission, more reliable energy sources. About TC Energy We're a team of 6,500+ energy problem solvers connecting the world to the energy it needs. Our extensive network of natural gas infrastructure assets is one-of-a-kind. We seamlessly move, generate and store energy and deliver it to where it is needed most, to homes and businesses in North America and across the globe through LNG exports. Our natural gas assets are complemented by our strategic ownership and low-risk investments in power generation. TC Energy's common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at . FORWARD-LOOKING INFORMATION This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as 'anticipate', 'expect', 'believe', 'may', 'will', 'should', 'estimate', 'intend' or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management's assessment of TC Energy's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TC Energy's beliefs and assumptions based on information available at the time the statements were made, and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy's profile on SEDAR+ at and with the U.S. Securities and Exchange Commission at . -30- Media Inquiries: Media Relations media@ 403-920-7859 or 800-608-7859 Investor & Analyst Inquiries: Gavin Wylie / Hunter Mau investor_relations@ 403-920-7911 or 800-361-6522 PDF available:
Epoch Times
02-05-2025
- Business
- Epoch Times
TC Energy Expanding US Gas Network to Fuel Data Centre Growth in Midwest
TC Energy Corp. has green-lit a US$900-million pipeline expansion feeding new natural gas-fired power plants in the U.S. Midwest, where artificial intelligence data centres are ravenous for electricity, as well as major refurbishments at the Bruce Power nuclear plant in Ontario. The Northwoods project would add 400,000 mmBTU's of capacity to TC's ANR system, which brings natural gas from Texas, Louisiana and Oklahoma to Wisconsin, Michigan, Illinois and Ohio. It is expected to come into service in late 2029 and is backed by 20-year contracts. The expansion would be done by adding parallel segments of pipe along the existing system as well as additional compression to push more gas through, Tina Faraca, the executive in charge of TC's natural gas pipelines, told analysts on a conference call to discuss the company's first-quarter results. 'We have a really strong record of progressing those types of projects on time and on budget,' she said. TC said it's also eyeing opportunities to power data centres being contemplated in Alberta, but chief executive François Poirier expects those would differ from projects it's pursing south of the border. In the U.S., TC has taken an 'in-front-of-the-meter' approach by providing fuel to big utilities that power the overall grid, as opposed to going 'behind the meter' and supplying a specific customer, like a data centre. Related Stories 4/10/2025 4/29/2025 'Strictly from a pipeline perspective, it's a little bit different in Canada, a little bit more of an 'if you build it they will come' kind of approach,' said Poirier. 'So we are working with producers, developers as well to see what the solution set might look like.' Data centres are massive operations that require an immense amount of electricity to run and cool off computer servers. Alberta's technology minister has said the province hopes to see $100 billion worth of artificial intelligence data centres under construction in the next five years. Greg Grant, the executive who leads TC's power and energy business, said prospective data centres are looking to connect to a collective 12 gigawatts of electricity in Alberta, about the same size as the province's existing grid 'We've been operating gas transmission, storage (and) power in Alberta for decades so I think that uniquely positions us on how we can quickly bring some of these services to fruition,' he said. But the company is not looking to set up an independent power plant to serve a data centre customer. 'We're going to be very thoughtful in our approach and of course we must compete for capital among all the other great opportunities,' Grant said. Also Thursday, TC said its board had decided to move ahead with a major component replacement on Unit 5 at its Bruce Power nuclear plant after receiving approval from the Ontario Independent Electricity System Operator last month. The $1.1-billion project is expected to begin in the fourth quarter of 2026 with service resuming by early 2030. Earlier in the day, TC reported $978 million in net income attributable to its common shares for its first quarter, down from $988 million a year earlier. It said its profit amounted to 94 cents per share for the quarter ended March 31 compared with a profit of 95 cents per share in the first three months of 2024. Comparable earnings totalled 95 cents per share, down from $1.02 a year earlier. Revenue for the quarter totalled $3.62 billion, up from $3.51 billion in the first quarter of 2024.
Global News
01-05-2025
- Business
- Global News
TC Energy expanding U.S. gas network for data centre growth
TC Energy Corp. has green-lit a US$900-million pipeline expansion feeding new natural gas-fired power plants in the U.S. Midwest, where artificial intelligence data centres are ravenous for electricity, as well as major refurbishments at the Bruce Power nuclear plant in Ontario. The Northwoods project would add 400,000 mmBTU's of capacity to TC's ANR system, which brings natural gas from Texas, Louisiana and Oklahoma to Wisconsin, Michigan, Illinois and Ohio. It is expected to come into service in late 2029 and is backed by 20-year contracts. The expansion would be done by adding parallel segments of pipe along the existing system as well as additional compression to push more gas through, Tina Faraca, the executive in charge of TC's natural gas pipelines, told analysts on a conference call to discuss the company's first-quarter results. 'We have a really strong record of progressing those types of projects on time and on budget,' she said. Story continues below advertisement TC said it's also eyeing opportunities to power data centres being contemplated in Alberta, but chief executive François Poirier expects those would differ from projects it's pursing south of the border. In the U.S., TC has taken an 'in-front-of-the-meter' approach by providing fuel to big utilities that power the overall grid, as opposed to going 'behind the meter' and supplying a specific customer, like a data centre. Get weekly money news Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday. Sign up for weekly money newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'Strictly from a pipeline perspective, it's a little bit different in Canada, a little bit more of an 'if you build it they will come' kind of approach,' said Poirier. 'So we are working with producers, developers as well to see what the solution set might look like.' Data centres are massive operations that require an immense amount of electricity to run and cool off computer servers. Story continues below advertisement Alberta's technology minister has said the province hopes to see $100 billion worth of artificial intelligence data centres under construction in the next five years. Greg Grant, the executive who leads TC's power and energy business, said prospective data centres are looking to connect to a collective 12 gigawatts of electricity in Alberta, about the same size as the province's existing grid 'We've been operating gas transmission, storage (and) power in Alberta for decades so I think that uniquely positions us on how we can quickly bring some of these services to fruition,' he said. But the company is not looking to set up an independent power plant to serve a data centre customer. 'We're going to be very thoughtful in our approach and of course we must compete for capital among all the other great opportunities,' Grant said. Also Thursday, TC said its board had decided to move ahead with a major component replacement on Unit 5 at its Bruce Power nuclear plant after receiving approval from the Ontario Independent Electricity System Operator last month. The $1.1-billion project is expected to begin in the fourth quarter of 2026 with service resuming by early 2030. Earlier in the day, TC reported $978 million in net income attributable to its common shares for its first quarter, down from $988 million a year earlier. Story continues below advertisement It said its profit amounted to 94 cents per share for the quarter ended March 31 compared with a profit of 95 cents per share in the first three months of 2024. Comparable earnings totalled 95 cents per share, down from $1.02 a year earlier. Revenue for the quarter totalled $3.62 billion, up from $3.51 billion in the first quarter of 2024.
Hamilton Spectator
01-05-2025
- Business
- Hamilton Spectator
TC Energy reports $978M first-quarter profit as revenues increase
CALGARY - TC Energy Corp. says its profits edged lower in its latest quarter as revenues increased compared with a year ago. The pipeline company reported $978 million in net income attributable to its common shares for its first quarter, down from $988 million a year earlier. It says its profit amounted to 94 cents per share for the quarter ended March 31 compared with a profit of 95 cents per share in the first three months of 2024. The company says its comparable earnings totalled 95 cents per share in its latest quarter, down from $1.02 a year earlier. Revenue for the quarter totalled $3.62 billion, up from $3.51 billion in the first quarter of 2024. TC Energy president and CEO François Poirier says the company's results demonstrate the 'overall resiliency of our business,' even as 'evolving macroeconomic conditions continue to contribute to market uncertainty.' This report by The Canadian Press was first published May 1, 2025. Companies in this story: (TSX:TRP)
Winnipeg Free Press
01-05-2025
- Business
- Winnipeg Free Press
TC Energy reports $978M first-quarter profit as revenues increase
CALGARY – TC Energy Corp. says its profits edged lower in its latest quarter as revenues increased compared with a year ago. The pipeline company reported $978 million in net income attributable to its common shares for its first quarter, down from $988 million a year earlier. It says its profit amounted to 94 cents per share for the quarter ended March 31 compared with a profit of 95 cents per share in the first three months of 2024. The company says its comparable earnings totalled 95 cents per share in its latest quarter, down from $1.02 a year earlier. Revenue for the quarter totalled $3.62 billion, up from $3.51 billion in the first quarter of 2024. TC Energy president and CEO François Poirier says the company's results demonstrate the 'overall resiliency of our business,' even as 'evolving macroeconomic conditions continue to contribute to market uncertainty.' During Elections Get campaign news, insight, analysis and commentary delivered to your inbox during Canada's 2025 election. This report by The Canadian Press was first published May 1, 2025. Companies in this story: (TSX:TRP)
