Exceptional Safety Record
TC Energy maintained an exceptional safety record with incident rates at 5-year lows, demonstrating the team's commitment to safety and operational excellence.
Strong Financial Performance
The company delivered a 12% year-over-year increase in comparable EBITDA and raised its 2025 comparable EBITDA outlook to $10.8 billion to $11 billion, representing a 9% increase over 2024.
Columbia Gas Settlement
A settlement in principle on the Columbia Gas system is expected to result in a 26% increase in pre-filed FTS rates, underscoring demand and stakeholder collaboration.
Project Completions
Approximately $5.8 billion of capacity projects, including Southeast Gateway and East Lateral XPress Project, have been completed or placed into service.
Increased Natural Gas Demand Forecast
North American natural gas demand is now forecasted to grow by 45 Bcf per day by 2035, up from a previous forecast of 40 Bcf per day.
Improved IRR on Projects
Sanctioned projects have an expected average unlevered after-tax IRR of approximately 12%, with future projects expected to deliver low to mid-teens IRRs.
Bruce Power Performance
Bruce Power achieved 98% availability in the quarter with a higher average realized price per megawatt hour, and investments are enhancing reliability and availability.
Sustainability Achievements
TC Energy reduced absolute methane emissions by 12% over the last 5 years while increasing throughput by 15% and increasing comparable EBITDA in the natural gas business by 40%.