This is a contracted pipe story, not an AECO price story
TC Energy (TSX: TRP, NYSE: TRP) released second-quarter 2026 results on July 30. Comparable EBITDA was $2.9 billion versus $2.6 billion a year earlier. Comparable earnings were $1.0 billion, or $0.94 per share. Management said it expects 2026 comparable EBITDA at the upper end of the $11.6 billion to $11.8 billion range.
The company sanctioned $700 million of low-risk expansions in the quarter, part of roughly $3 billion of growth projects announced in the first half of 2026. New approvals include the Central Virginia Capacity project on Columbia Gas for up to 0.4 Bcf per day to gas-fired power and data-centre load, the Clark project on Columbia Gulf for 0.3 Bcf per day to an existing power plant, and NGTL Multi-Year Growth Plan facilities targeted for 2028 in-service.
Canadian gas deliveries averaged 24.2 Bcf per day, up 1 percent year over year. Deliveries to LNG facilities averaged 3.9 Bcf per day, up 13 percent. The board declared a $0.8775 quarterly dividend payable October 30 to record holders September 29.