We believe that the FERC's actions will not substantively impact negotiated or non-recourse rates. It is important to note that in 2017, about 45 percent of the Partnership's revenues came from non-recourse rate contracts. The remaining approximately 55 percent of natural gas pipeline revenues were derived from cost of service-based rates which would be subject to tax recovery disallowance. We note that this percentage of negotiated or non-recourse revenue is set to climb to over 50 percent as the Partnership's growth projects come on line between now and 2020.Important details of implementing the new revised policy statement require further clarification and the Partnership will continue to assess the financial impacts as more information becomes available. About TC PipeLines, LP TC PipeLines, LP is a Delaware master limited partnership with interests in eight federally regulated U.S. interstate natural gas pipelines which serve markets in the Western, Midwestern and Northeastern United States. The Partnership is managed by its general partner, TC PipeLines GP, Inc., a subsidiary of TransCanada Corporation (NYSE:TRP). For more information about TC PipeLines, LP, visit the Partnership's website at www.tcpipelineslp.com. Forward-Looking Statements Certain non-historical statements in this release relating to future plans, projections, events or conditions are intended to be "forward-looking statements". These statements are based on current expectations and, therefore, subject to a variety of risks and uncertainties that could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including, without limitation to the final costs of compliance with newly enacted regulations, the timing, terms and closing of future acquisitions of additional natural gas pipeline assets and the ability of these assets to generate ongoing value to our unitholders, overall increase in the allocated management and operational expenses on our pipeline systems as performed by TransCanada, impact of potential impairment charges, decreases in demand on our pipeline systems, increases in operating and compliance costs, the outcome of rate proceedings, the impact of recently issued and future accounting updates and other changes in accounting policies, FERC's final rules implementing the Tax Cuts and Jobs Act enacted on December 22, 2017, our ability to identify and complete expansion and growth opportunities, operating hazards beyond our control, disruption in the debt and equity markets that negatively impacts the Partnership's ability to finance its capital spending. These and other factors that could cause future results to differ materially from those anticipated are discussed in Item 1A in our Annual Report on Form 10-K for the year-ended December 31, 2017 filed with the Securities and Exchange Commission (the SEC), as updated and supplemented by subsequent filings with the SEC. All forward-looking statements are made only as of the date made and except as required by applicable law, we undertake no obligation to update any forward-looking statements to reflect new information, subsequent events or other changes.
Media Inquiries: Scott Castleman304.357.2128 or 800.608.7859Unitholder and Analyst Inquiries: Rhonda Amundson 877.290.2772 firstname.lastname@example.org