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.