News Release
July 11, 2002

MARITIMES & NORTHEAST PIPELINE AND CUSTOMERS ACHIEVE TOLLING AGREEMENT FOR 2003

HALIFAX, NOVA SCOTIA – Maritimes & Northeast Pipeline L.P. (M&N) announced today that it has reached agreement with its customers on Canadian tolls through its Tolls & Tariff Working Group (TTWG).

 

The settlement provides M&N customers with predictable pipeline tolls through 2003 and should eliminate the need for a formal hearing process. The settlement is subject to review and approval by the National Energy Board (NEB).

 

“This agreement is beneficial to all customers on the M&N system,” said Phil Knoll, president of Maritimes & Northeast Pipeline. “It comes as a result of a very positive working relationship with our customers.”

 

The streamlined process consisted of settlement discussions with customers and culminated on June 28 with the positive vote by TTWG members in favour of the agreement, which results in a 2003 Canadian toll set at Cdn $0.6536/GJ (Cdn $0.6896/MMBTU). Maritimes & Northeast Pipeline and its customers were also successful in reaching negotiated toll settlements in 2001 and 2002.

 

“The agreement will allow all stakeholders to move forward with greater certainty,” said Knoll. “We plan to build on this success through expansion of our system and the addition of new customers on Maritimes & Northeast Pipeline.”

 

The project sponsors of Maritimes & Northeast Pipeline are Duke Energy (75 percent), ExxonMobil (12.5 percent) and Emera Inc. (12.5 percent). Maritimes & Northeast is headquartered in Halifax, Nova Scotia and has offices in Boston, Mass. For more information, contact us on the Internet at www.mnpp.com.

 

Contact: Stephen Rankin
Phone: 902/425-4293
24 Hour Phone: n/a
Email: srankin@mnpp.com