CALGARY, Feb. 10, 2012 /CNW/ - The National Energy Board (NEB or the Board) will hold an oral public hearing on the cost of pipeline abandonment. Based on the findings from a previous hearing, (RH-2-2008 Reasons for Decision), the Board required all NEB-regulated pipeline companies to set aside funds for future abandonment by 2015. These Reasons for Decision also set out a five-year Action Plan to reach this milestone. In continuation of this plan, the Board is currently examining the pipeline abandonment cost estimates of larger companies and will decide whether each company's estimates are a reasonable starting point. Pipeline companies will be required to begin collecting and setting aside funds for abandonment by 2015/2016.
The Board is not deciding on the abandonment plan for specific lands or pipelines in this hearing.
Members of the public may participate in this hearing in one of two ways - by filing a letter of comment or by seeking intervenor status. Applications to intervene must be filed with the Board by 30 March 2012. Letters of Comment must be received by 17 April 2012. Any person may attend the hearing as an observer.
Details on the location(s) and date(s) of the hearing will be announced at a later time.
The NEB is an independent federal regulator of several parts of Canada's energy industry. Its purpose is to regulate pipelines, energy development and trade in the Canadian public interest.
This news release is available on the NEB's Internet site at www.neb-one.gc.ca under What's New!
List of Group 1 Companies who filed preliminary cost estimates requiring Board approval:
- Enbridge Pipelines Inc.
- Enbridge Pipelines (NW) Inc.
- Kinder Morgan Cochin ULC
- TransCanada Keystone Pipeline GP Ltd.
- Trans Mountain Pipeline ULC on behalf of Trans Mountain LP
- Trans-Northern Pipelines Inc.
- Alliance Pipeline Ltd.
- Foothills Pipe Lines Ltd.
- NOVA Gas Transmission Ltd.
- Westcoast Energy Inc., carrying on business as Spectra Energy Transmission
- Trans Quebec & Maritimes Pipeline Inc.
- TransCanada Pipelines Limited
For further information:
Rebecca Taylor ([email protected])
TTY (teletype): 1-800-632-1663