NEW YORK TC PipeLines LP
recorded net income of $30 million in the fourth quarter, down
21 percent from $38 million in the same period a year earlier,
on cash flows that fell 38 percent to $51 million from $82
million as the partnership entered into more rate cases with
shippers, lowering revenue but stabilizing cash flow.
"Our focus is on maintaining the
long-term value of our portfolio and ensuring a stable asset
base as the North American natural gas transmission industry
strengthens," Steve Becker, president of TC PipeLines GP Inc.,
said in a statement. TC PipeLines GP Inc. manages TC PipeLines
TC PipeLines, a subsidiary of
Calgary, Alberta-based TransCanada Corp., said it has
significant interests in about 5,560 miles of natural gas
pipelines in the United States.