Kinder Morgan Announces 501-G Settlements
HOUSTON--(BUSINESS WIRE)--Apr 8, 2019--Kinder Morgan, Inc. (NYSE: KMI) is pleased to announce that Tennessee Gas Pipeline (TGP) and El Paso Natural Gas (EPNG) have agreed to settlements with their shippers to address issues raised by the Federal Energy Regulatory Commission’s (FERC) 501-G process. KMI was very happy to work with our shippers without the need for litigation or any additional intervention by the FERC. Rate adjustments set forth in the agreements by TGP and EPNG will have a combined approximately $50 million EBITDA impact for 2019; and when fully implemented, will have an approximately $100 million combined annual impact on EBITDA. KMI expects that these two agreements, pending approval by FERC, should resolve the vast majority of KMI’s 501-G exposure.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. is one of the largest energy infrastructure companies in North America. We own an interest in or operate approximately 84,000 miles of pipelines and 157 terminals. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO 2 and other products, and our terminals transload and store liquid commodities including petroleum products, ethanol and chemicals, and bulk products, including petroleum coke, metals and ores. For more information, please visit www.kindermorgan.com.
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CONTACT: Dave Conover
KEYWORD: UNITED STATES NORTH AMERICA CANADA TEXAS
INDUSTRY KEYWORD: ENERGY OIL/GAS MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Kinder Morgan, Inc.
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PUB: 04/08/2019 09:05 AM/DISC: 04/08/2019 09:05 AM