HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) subsidiary Tennessee Gas Pipeline
Company (TGP) today issued the following statement:
The Massachusetts Department of Public Utilities order finding that it
has the authority to approve contracts entered into by electric
distribution companies (EDCs) to secure dedicated natural gas pipeline
transportation capacity is an important step in ensuring that electric
generators have reliable access to the fuel needed to generate
electricity within the ISO-NE transmission grid.
By requiring that such contracts be subject to an open and transparent
procurement process in order to win approval, the DPU’s order should
also benefit consumers, as interstate pipeline companies serving the
region compete to provide natural gas to electric generators across New
England at the lowest cost.
“Tennessee Gas Pipeline supported the utilization of an open and
transparent process during its participation in the DPU proceedings,”
said Kimberly S. Watson, president of TGP. “TGP’s initiation last month
of its open season for its innovative PowerServe transportation solution
provides a competitive market alternative that will lead to lower
consumer energy costs.”
Kinder Morgan, Inc. (NYSE: KMI) is the largest energy infrastructure
company in North America. It owns an interest in or operates
approximately 84,000 miles of pipelines and 165 terminals. The company’s
pipelines transport natural gas, gasoline, crude oil, CO2 and
other products, and its terminals store petroleum products and
chemicals, and handle bulk materials like coal and petroleum coke.
Kinder Morgan is the largest midstream and third largest energy company
in North America with an enterprise value of approximately $110 billion.
For more information please visit www.kindermorgan.com.
This news release includes forward-looking statements. These
forward-looking statements are subject to risks and uncertainties and
are based on the beliefs and assumptions of management, based on
information currently available to them. Although Kinder Morgan
believes that these forward-looking statements are based on reasonable
assumptions, it can give no assurance that such assumptions will
materialize. Important factors that could cause actual results to
differ materially from those in the forward-looking statements herein
include those enumerated in Kinder Morgan’s reports filed with the
Securities and Exchange Commission. Forward-looking statements
speak only as of the date they were made, and except to the extent
required by law, Kinder Morgan undertakes no obligation to update or
review any forward-looking statement because of new information, future
events or other factors. Because of these uncertainties, readers
should not place undue reliance on these forward-looking statements.
