Energy Transfer Announces It Expects No Material Impact from FERC Policy Revisions
DALLAS–(BUSINESS WIRE)–Energy Transfer Partners, L.P. (NYSE: ETP) is aware of revisions the
Federal Energy Regulatory Commission (“FERC”) is proposing to its 2005
Policy Statement for Recovery of Income Tax Costs, which if adopted
after a public comment period, would no longer allow interstate
pipelines owned by master limited partnerships to recover an income tax
allowance in the cost of service. These revisions are not expected to
have a material impact to ETP’s earnings and cash flow. Many of ETP’s
rates are set pursuant to negotiated rate arrangements or rate
settlements that it believes would not be subject to adjustment, or
would be limited in terms of adjustment. In addition, many of its
current transportation services are provided at discounted rates that
are below maximum tariff rates, many of which it believes would not be
impacted by a change in the maximum tariff rate.
Energy Transfer Partners, L.P. (NYSE: ETP) is a master limited
partnership that owns and operates one of the largest and most
diversified portfolios of energy assets in the United States.
Strategically positioned in all of the major U.S. production basins, ETP
owns and operates a geographically diverse portfolio of complementary
natural gas midstream, intrastate and interstate transportation and
storage assets; crude oil, natural gas liquids (NGL) and refined product
transportation and terminalling assets; NGL fractionation; and various
acquisition and marketing assets. ETP’s general partner is owned by
Energy Transfer Equity, L.P. (NYSE: ETE). For more information, visit
the Energy Transfer Partners, L.P. website at energytransfer.com.
Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited
partnership that owns the general partner and 100% of the incentive
distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE: ETP)
and Sunoco LP (NYSE: SUN). ETE also owns Lake Charles LNG Company. On a
consolidated basis, ETE's family of companies owns and operates a
diverse portfolio of natural gas, natural gas liquids, crude oil and
refined products assets, as well as retail and wholesale motor fuel
operations and LNG terminalling. For more information, visit the Energy
Transfer Equity, L.P. website at energytransfer.com.
Forward-Looking Statements
This press release may include certain statements concerning
expectations for the future that are forward-looking statements as
defined by federal law. Such forward-looking statements are subject to a
variety of known and unknown risks, uncertainties, and other factors
that are difficult to predict and many of which are beyond management’s
control. These risks and uncertainties include the risks that the
proposed transaction may not be consummated or the benefits contemplated
therefrom may not be realized. An extensive list of other factors that
can affect ETP’s future results are discussed in its Annual Reports on
Form 10-K and other documents filed from time to time with the
Securities and Exchange Commission. Except as required by law, ETP
undertakes no obligation to update or revise any forward-looking
statement to reflect new information or events.
Contacts
Energy Transfer Partners, L.P.
Investor Relations:
Lyndsay
Hannah, Brent Ratliff, Helen Ryoo, 214-981-0795
or
Media
Relations:
Vicki Granado, Alexis Daniel, 214-840-5820
