Shares in what used to be known as TransCanada Pipelines – a cornerstone holding in many retirement funds – are down 26 per cent over the past 12 months.
A key element in TC Energy’s transition strategy is moving natural gas across Northern British Columbia on its. The company estimated the project would cost $6.2-billion when it was launched in 2018. The price tag is now at $14.5-billion. While the project is 90 per cent complete and projected to be completed by year-end, investors are now in “show me” mode on the pipeline.
TC Energy’s executives face challenges centred on their ability to get the nuts and bolts of the business right, as opposed to setting out a grand strategy for the company’s move away from its roots in the oilpatch.
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