TransCanada, EDF Energy ink retail contract
TransCanada Corporation announced this week that it has entered into an agreement to sell its outstanding U.S. retail power contracts to EDF Energy Services, LLC.
According to The Canadian Press, yesterday’s announcement is part of the continued wind down of TransCanada’s Power Marketing Ltd. operations. The transaction is expected to close in the first quarter of 2018 subject to certain regulatory and other approvals.
TransCanada operates one of the largest natural gas transmission networks that extends more than 91,500 kilometres (56,900 miles), tapping into virtually all major gas supply basins in North America. With more than 65 years of experience, it operates an energy structure that includes natural gas and liquids pipelines, power generation and gas storage facilities.