TC Energy Corporation reported strong second quarter 2025 operating and financial results, with comparable EBITDA growing 12 percent and segmented earnings increasing 13 percent compared to Q2 2024. Driven by this performance, the company raised its 2025 comparable EBITDA outlook to a range of $10.8 to $11.0 billion, up from the original outlook of $10.7 to $10.9 billion.
The Southeast Gateway pipeline, completed on schedule and under budget in the second quarter, commenced toll collection from the CFE in May 2025. Additionally, the newly constituted Comisión Nacional de Energía (CNE) approved the regulated rates for potential future interruptible service users on the pipeline in July, making the project fully operational.
TC Energy also announced a settlement-in-principle on the Columbia Gas Section 4 Rate Case on July 1, 2025, expecting an increase relative to pre-filed rates. The East Lateral XPress (ELXP) project was placed into service in May, delivering approximately 0.7 Bcf/d to Venture Global’s Plaquemines LNG terminal. The company sanctioned $0.4 billion of expansion facilities as part of its Multi-Year Growth Program (MYGP) and upsized capacity on its Maysville and Pulaski projects, contributing to $4.5 billion in new capital projects announced over the past nine months.
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