Pipeline companies plan joint Alberta operations
NEW YORK, Sept 8 (Reuters) - Canadian Utilities Ltd (CU.TO) and TransCanada Corp (TRP.TO) on Monday said they had reached a proposed deal under which a subsidiary of each company would jointly provide natural gas transmission service across Canada's province of Alberta.
Canadian Utilities' subsidiary ATCO Pipelines and TransCanada Corp's NOVA Gas Transmission Ltd subsidiary would combine physical assets under a single rates and services structure, if the deal is approved by regulators, the companies said in a joint release.
Each company, however, would separately manage assets within its distinct operating territories in the province.
"It is expected that the model will end duplicative tolling and operational activities and will result in more-efficient regulatory processes," the companies said.
