FERC Tax Policy Revisions Expected to be Immaterial to Tallgrass Energy
March 15 2018 - 5:29PM
Business Wire
Tallgrass Energy Partners, LP (NYSE:TEP) announced today that it
does not expect policy revisions governing recovery of income taxes
released today from the Federal Energy Regulatory Commission (FERC)
to have a material impact on the company’s revenues.
“While we are in the process of reviewing the FERC orders, it’s
important to note that the bulk of TEP’s revenues come from REX and
Pony Express,” said Tallgrass Energy President and CEO David G.
Dehaemers Jr. “Both REX and Pony Express have negotiated rate
contracts, and we expect the ruling would have little to no impact
on these revenues. While TIGT and Trailblazer both have some
recourse rate contracts, we expect the impact to be immaterial to
Tallgrass given the relative size of those businesses.”
About Tallgrass Energy
Tallgrass Energy is a family of companies that includes publicly
traded partnerships Tallgrass Energy Partners, LP (NYSE:TEP) and
Tallgrass Energy GP, LP (NYSE:TEGP). Operating across 11 states,
Tallgrass is a growth-oriented midstream energy operator with
transportation, storage, terminal, water, gathering and processing
assets that serve some of the nation’s most prolific crude oil and
natural gas basins.
To learn more, please visit www.tallgrassenergy.com.
Cautionary Note Concerning
Forward-Looking Statements
Disclosures in this press release contain forward-looking
statements. All statements, other than statements of historical
facts, included in this press release that address activities,
events or developments that management expects, believes or
anticipates will or may occur in the future are forward-looking
statements. Without limiting the generality of the foregoing,
forward-looking statements contained in this press release
specifically include the expected impact to TEP of FERC’s policy
revisions governing recovery of income taxes. Such statements are
subject to a number of assumptions, risks and uncertainties, many
of which are beyond the control of TEP, which may cause actual
results to differ materially from those implied or expressed by the
forward-looking statements, and other important factors that could
cause actual results to differ materially from those projected,
including those set forth in reports filed by TEP with the
Securities and Exchange Commission. Any forward-looking statement
applies only as of the date on which such statement is made and TEP
does not intend to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20180315006484/en/
Tallgrass Energy Partners, LPInvestor and Financial
InquiriesNate Lien,
913-928-6012investor.relations@tallgrassenergylp.comorMedia and
Trade InquiriesPhyllis Hammond,
303-763-3568phyllis.hammond@tallgrassenergylp.com
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