Enable Midstream Partners, LP has announced that Enable Mississippi River Transmission, LLC (MRT) received approval from the Federal Energy Regulatory Commission (FERC) of its uncontested rate case settlements with customers. The settlements establish rates for services on the MRT system that provide a return on MRT’s historical investments, recovery of the pipeline’s ongoing operating costs and rate certainty for customers.
Effective 1 August 2019, MRT’s maximum firm transportation rates for service across both of MRT’s pipeline zones have increased by approximately 60% and storage deliverability and capacity rates have increased by approximately 30% compared to the rates in effect before 1 January 2019. Excluding the one-time benefit that Enable expects to recognise in 2020 for 2019 billings, Enable expects 2020 MRT service revenues of approximately US$87 million, an increase of approximately US$7 million compared to 2018 levels, the last year unaffected by these rate cases and recent capacity turnback. The settlements also include contract extensions for most firm transportation and storage customers through 31 July 2024.
“We are pleased with the approved settlements and believe they represent a fair return on MRT’s historical investments,” said Rod Sailor, President and CEO. “I want to thank everyone involved in the rate case process, including our customers, our employees, FERC staff and the FERC Commissioners. MRT has been in service to customers for over 90 years, and today’s settlement approvals demonstrate the pipeline’s strategic value to its service area and position it to continue providing that service well into the future.”
About Enable Midstream Partners
Enable owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Enable’s assets include approximately 14 000 miles of natural gas, crude oil, condensate and produced water gathering pipelines, approximately 2.6 billion ft3/d of natural gas processing capacity, approximately 7800 miles of interstate pipelines (including Southeast Supply Header, LLC of which Enable owns 50%), approximately 2300 miles of intrastate pipelines and eight natural gas storage facilities comprising 84.5 billion ft3 of storage capacity.
Read the article online at: https://www.worldpipelines.com/business-news/27032020/ferc-approves-enable-midstreams-settlements/