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Williams Announces FERC Filing For Transco Rate Case Settlement; Expects ~$76M Favorable Impact To EBITDA In 2020

The Settlement provides rate certainty for customers while allowing Transco to recover its costs The company anticipates FERC approval of the Settlement during the second quarter of 2020 TULSA, Okla.--(BUSINESS WIRE)--

Benzinga · -

The Settlement provides rate certainty for customers while allowing Transco to recover its costs

The company anticipates FERC approval of the Settlement during the second quarter of 2020

TULSA, Okla.--(BUSINESS WIRE)-- Williams (NYSE:WMB) announced today that it has filed a comprehensive Stipulation and Agreement (“Settlement”) with the Federal Energy Regulatory Commission (“FERC”), which would settle all aspects of the Transcontinental Gas Pipe Line Company, LLC (“Transco”) rate case currently pending before the FERC. The company anticipates FERC approval of the Settlement during the second quarter of 2020. The Settlement provides rate certainty for customers while allowing Transco to recover its costs, safely and reliably operate its infrastructure, and expand to meet the needs of its customers.

Including revenue impacts and other related accounting entries, Williams expects approximately $76 million favorable impact to EBITDA in 2020 versus 2018 (the last full year with no rate case effect), which was included in 2020 guidance provided at Williams’ Analyst Day on Dec. 5, 2019.