October 02, 2015 06:21 PM Eastern Daylight Time
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.