NGPC TOP ACCORD APPROACHES $600 MILLION

Natural Gas Pipeline Co. of America (NGPC) has reached a comprehensive settlement with all its utility customers to recover about $582.9 million plus interest in take or pay (TOP) contract reformation costs. The settlement resolves all issues of NGPC's transition costs. Those costs were incurred as a result of buying out or buying down producer supply contracts in the pipeline's transition to a transporter role from a merchant function under federal pipeline access deregulation efforts.

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