Partners L.P. (NYSE: WPZ) announced today that its Northwest
Pipeline system received approval from the Federal Energy Regulatory
Commission on a pre-filed rate settlement.
Northwest filed a Stipulation and Settlement Agreement with the FERC on
March 15, 2012.
The supporting or non-opposing customers named in the Settlement
represent approximately 99.5 percent of Northwest’s long-term firm
transportation and storage capacity.
(NYSE: WMB) owns approximately 69 percent of Williams Partners,
including the general-partner interest.
“We’re pleased to have reached a settlement with our customers. We
appreciate the long-standing relationships with them that allowed us to
work cooperatively and reach a timely quick settlement,” said Randy
Barnard, senior vice president of the partnership’s interstate gas
The settlement is based on an annual cost of service of $466.5 million
and established a new general system firm transportation rate of $0.44
per dekatherm, a 7.4 percent increase over the current rate. New rates
will become effective Jan. 1, 2013. Northwest can file another rate case
in three years and must file within five years. The settlement is in
line with Williams Partners’ and Williams’ earnings and cash flow
guidance for 2013 and 2014.
Northwest Pipeline is a primary artery for the transmission of natural
gas to the Pacific Northwest and Intermountain Region. The 4,000-mile
system crosses Washington, Oregon, Idaho, Wyoming, Utah and Colorado.
Peak capacity is 3.8 billion cubic feet per day. Northwest’s
bi-directional system provides markets with access to British Columbia,
Alberta, Rocky Mountain and San Juan Basin gas supplies.
About Williams Partners L.P. (NYSE: WPZ)
Williams Partners L.P. is a leading diversified master limited
partnership focused on natural gas transportation; gathering, treating,
and processing; storage; natural gas liquid (NGL) fractionation; and oil
transportation. The partnership owns interests in three major interstate
natural gas pipelines that, combined, deliver 14 percent of the natural
gas consumed in the United States. The partnership’s gathering and
processing assets include large-scale operations in the U.S. Rocky
Mountains and both onshore and offshore along the Gulf of Mexico.
Williams (NYSE: WMB) owns approximately 69 percent of Williams Partners,
including the general-partner interest. More information is available at www.williamslp.com.
Portions of this document may constitute “forward-looking statements”
as defined by federal law. Although the partnership believes any such
statements are based on reasonable assumptions, there is no assurance
that actual outcomes will not be materially different. Any such
statements are made in reliance on the “safe harbor” protections
provided under the Private Securities Reform Act of 1995. Additional
information about issues that could lead to material changes in
performance is contained in the partnership’s annual reports filed with
the Securities and Exchange Commission.