- Footnote 1
-
The capacity figure for Trans Mountain assumes that 20% of throughput is heavy crude oil. As the proportion of heavy crude oil decreases, throughput capacity increases.
Return to Footnote 1 referrer
- Footnote 2
-
Calculation by the NEB based on the combined takeaway capacity of TCPL Mainline Prairies Segment and Foothills SK. TCPL estimates Eastern Gate design capability at 127 106 m³/d (4.5 Bcf/d).
Return to Footnote 2 referrer
- Footnote 3
-
BP Statistical Review of World Energy June 2016. BP’s total production numbers include NGLs and differ from the Board’s numbers.
Return to Footnote 3 referrer
- Footnote 4
-
NEB Analysis: Canadian Crude Oil Exports – By Export Transportation System Summary – 5 Year Trend
Return to Footnote 4 referrer
- Footnote 5
-
BP Statistical Review of World Energy June 2016. Total production numbers differ from the Board’s numbers.
Return to Footnote 5 referrer
- Footnote 6
-
For example, new oil pipeline infrastructure is commonly underpinned with long-term, take-or-pay transportation service agreements which serve to manage volume risk associated with supply and market variables. These are agreements between a pipeline company and its shippers in which the obligation to pay tolls for volumes committed over the contract term is binding regardless of whether commodities are supplied for transport. If a shipper’s credit rating drops below investment grade, it could be required to post financial assurances to backstop its shipping commitments.
Return to Footnote 6 referrer
- Footnote 7
-
The NEB has granted some pipeline companies exemptions from certain information filing requirements. The details that are provided as part of tariff applications or annual compliance filings differ among pipeline companies.
Return to Footnote 7 referrer
- Footnote 8
-
Companies have always been, and will continue to be, subject to unlimited liability when found to be at fault or negligent.
Return to Footnote 8 referrer
- Footnote 9
-
When shippers nominate more oil, or oil product, in a given month than the pipeline is able to transport, shipper volumes are apportioned (reduced) based on the tariff in effect. Apportionment can be driven by several factors, including growing oil supply, increased oil demand, and reduced pipeline capacity.
Return to Footnote 9 referrer
- Footnote 10
-
A netback price is the price received for a product in the market, less the costs of moving the product to the market.
Return to Footnote 10 referrer
- Footnote 11
-
NEB Canadian Crude Oil Exports by Rail Monthly Data
Return to Footnote 11 referrer
- Footnote 12
-
High demand for pipeline capacity to the west coast has contributed to apportionment on Trans Mountain and triggered several applications to allocate capacity between Land Shippers (mostly B.C. and Washington State refineries) and Dock Shippers (marine exporters). Currently, approximately 26% of capacity is allocated to the Westridge Dock, including 8.6 10³ m³/d (54 Mb/d) of firm service and 4.0 10³ m³/d (25 Mb/d) of interruptible service which is auctioned each month.
Return to Footnote 12 referrer
- Footnote 13
-
NEB 2015 Propane and Butanes Exports Summary
Return to Footnote 13 referrer
- Footnote 14
-
The total cost of providing service, including operating and maintenance expenses, depreciation, amortization, taxes, and return on rate base.
Return to Footnote 14 referrer
- Footnote 15
-
The GDP deflator is a measure of inflation. Pipeline tolls are compared to the GDP deflator to indicate how they have changed relative to overall inflation.
Return to Footnote 15 referrer
- Footnote 16
-
Differing pipeline distances add to the challenges of comparing tolls between pipelines. To allow comparison, all tolls and the GDP deflator are compared to their own values in 2010 by normalizing so that the 2010 value equals one.
Return to Footnote 16 referrer
- Footnote 17
-
No adjustments are made for the relative volume, capacity, or length of the inasideidual pipelines.
Return to Footnote 17 referrer
- Footnote 18
-
Estimates in current dollars for the dates in which they were made, 2011-2014.
Return to Footnote 18 referrer
- Footnote 19
-
For example a 30% equity ratio means that 30% of the capital structure of a company comes from equity and 70% comes from debt.
Return to Footnote 19 referrer
- Footnote 20
-
A deemed common equity ratio is a notional capital structure used for rate-making purposes that may differ from a company's actual capital structure.
Return to Footnote 20 referrer
- Footnote 21
-
The NEB has granted some pipeline companies exemptions from certain information filing requirements. The details that are provided as part of tariff applications or annual compliance filings differ among pipeline companies.
Return to Footnote 21 referrer
- Footnote 22
-
Between 1995 and late 2009, the Board set an ROE annually, using a formula outlined in RH-2-94. In 2009, the Board initiated a written process to review RH-2-94 and considered, among other things, changes in financial and economic circumstances since 1994 and the experience industry had gained reaching negotiated settlements over the intervening 15 years. In October 2009, the Board decided that the RH-2-94 Decision would not continue to be in effect. However, for the convenience of parties which still use it in their settlements, the Board has continued to publish the formula.
Return to Footnote 22 referrer
- Footnote 23
-
DBRS issues credit ratings and reports for some, but not all, of the NEB-regulated Group 1 pipelines. Keystone and Trans Mountain, for example, are covered as part of their parent companies TransCanada PipeLines and Kinder Morgan, respectively.
Return to Footnote 23 referrer
- Footnote 24
-
Enbridge Inc., Enbridge Pipelines Inc., Enbridge Gas Distribution Inc. S&P also downgraded the rating on Houston-based Enbridge Energy Partners L.P. to “BBB” from “BBB+”.
Return to Footnote 24 referrer
