November 15, 2016 / 1:47 PM / in a year

Transcanada halts open season for tolls on Canada gas pipeline

Nov 15 (Reuters) - TransCanada Corp said on Tuesday it halted an open season for a new, fixed-price toll on its natural gas pipeline from western Canada to southern Ontario as the bids it received did not make the project viable.

The company launched the open season, where potential customers bid for a part of a pipeline’s capacity, in October to gauge interest from shippers for the Canadian Mainline.

“The Open Season for the proposed service resulted in bids that fell well short of the volumes required to make the proposal viable,” the company said in a statement. (Reporting by Vishaka George in Bengaluru; Editing by Savio D‘Souza)

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