Topic: How To Invest

The Successful Investor Hotline – Friday, January 19, 2024

Article Excerpt

TC ENERGY INC., $52.08, Toronto symbol TRP, remains a buy. TC generates steady cash flow for investors mainly through a 93,700-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Its other operations include 4,900 kilometres of crude oil pipelines and nine power plants. The company continues to make progress with its plan to build a new pumped storage hydro power project near Meaford, Ontario. The system would pump water (mainly overnight) from Georgian Bay to an elevated reservoir when electrical power demand and prices are low. When power is needed, the system will release the water through a series of turbines to generate electricity. Ontario’s Ministry of Energy has now directed the province’s Independent Electricity System Operator (IESO) to develop a cost recovery agreement with TC and its project partner, the Saugeen Ojibway Nation. This is an important step in the process, and TC expects to make a final decision in the second half of 2024. The project would probably…