TC Energy will highlight long-term sustainable growth at its virtual Investor Day

Published on: 30 November 2021
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TC Energy Corporation will host its annual Investor Day online. Strong industry fundamentals, cost-of-service regulation, and/or long-term, take-or-pay contracts support $29 billion in secured capital projects. We are working to modernize our existing systems and assets while also reducing our own energy consumption.

Today, TC Energy Corporation (TSX, NYSE: TRP) will hold its annual Investor Day in a virtual format. We will present an overview of our corporate strategy, five-year financial outlook, and the targets we have set to support our ten sustainability commitments during the event. Furthermore, we will discuss the vast opportunity set that awaits our natural gas pipelines, liquids pipelines, and power and storage businesses in Canada, the United States, and Mexico.

"Our vision is to be the premier energy infrastructure company in North America now and in the future,"

said TC Energy President and CEO François Poirier.

"As evidenced by the record financial results we are on track to deliver in 2021, our $100 billion portfolio of high-quality, long-life energy infrastructure assets is performing very well. We also see significant future growth as a result of both the world's increasing energy demand and the transition to a cleaner energy future. Today, we are advancing $29 billion in commercially secured projects that will expand and extend our asset footprint across North America while providing attractive long-term returns to our shareholders over the next five years."

The $29 billion in secured capital projects at TC Energy are supported by strong industry fundamentals, cost-of-service regulation, and/or long-term, take-or-pay contracts. This figure includes $7 billion in new projects that will be approved by the end of 2021. This capital program, when combined with the strong performance of our existing assets, is expected to result in 5% annual EBITDA growth through 2026.

Additional approved projects that enter service by 2026, as well as other revenue enhancements and cost savings, would contribute to our growth forecast. Based on our confidence in our business plans, we expect the common share dividend to grow at a three to five percent annual rate. This is consistent with our established conservative capital allocation approach and is expected to provide the capacity to fund our sizable capital program while strengthening our financial strength and flexibility.

"Our strong and growing cash flow from operations will enable us to fund the majority of our $29 billion secured capital program and pay a sustainable dividend,"

Poirier added.

"As a result, we expect to strengthen our already strong credit profile and exceed targeted credit metrics in the second half of our five-year plan. This will allow us to fund additional growth opportunities, maintain our long history of dividend increases, or consider a share buyback. As always, we will allocate capital in a way that maximizes earnings, cash flow, and dividends per share growth while also providing superior long-term returns to our shareholders."

Looking ahead, TC Energy anticipates capturing significant new opportunities that will contribute to its EBITDA growth forecast. Our critical energy infrastructure network will be used for decades to come, generating significant in-corridor growth potential. We are also committed to the long-term growth of our company. We are focusing on modernizing our existing systems and assets, as well as decarbonizing our own energy consumption, while also looking for opportunities to invest in low-carbon energy infrastructure.

We are moving forward with numerous renewable energy projects and new ventures in pumped hydro storage, hydrogen and carbon capture utilization and storage, while remaining committed to critical projects like Bruce Power's multi-billion dollar life extension and uprate programs, which will ensure that Ontario has a significant source of emission-free power for decades to come.

In all of our operations and projects, we remain committed to managing and reducing our GHG emissions while also developing positive, long-term relationships with our communities and stakeholders. We believe that our creativity, technical strength, and unrivaled market connectivity enable us to thrive regardless of the pace and direction of the energy transition.

The event will take place from 7:30 a.m. to 11:30 a.m. MST (9:30 a.m. to 1:30 p.m. EST). The event will be webcast live via the Investors section of TC Energy's website at TCEnergy.com/InvestorDay or the following URL: https://tcenergyinvestorday2021.can.chime.live/. The webcast will also be available for replay after the event.

At 6:00 a.m. MST, the presentation materials will be available at TCEnergy.com/InvestorDay (8:00 a.m. EST).

We are an essential part of daily life, providing the energy that millions of people rely on to power their lives in a sustainable manner. We're there because of a safe, dependable network of natural gas and liquids pipelines, as well as power generation and storage facilities. Our 7,500 employees make a positive difference in the communities where we operate across Canada, the United States, and Mexico, guided by our core values of safety, innovation, responsibility, collaboration, and integrity.

The common shares of TC Energy are traded on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. Visit TCEnergy.com to learn more.

Source: TC Energy news

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