HOUSTON--(BUSINESS WIRE)--Mar. 15, 2018--
Enterprise Products Partners L.P. (NYSE:EPD) announced that revisions
announced today by the Federal Energy Regulatory Commission (“FERC”)
with regard to its 2005 policy for recovery of income taxes are not
expected to have a material impact to the earnings and cash flow of
Enterprise. The FERC announced today that it would revise its 2005
Policy Statement for Recovery of Income Tax costs so that it no longer
will allow interstate pipelines owned by master limited partnerships to
recover an income tax allowance in the cost of service.
“We do not expect the revisions to the FERC’s policy on the recovery of
income taxes to materially impact our earnings and cash flow,” said A.J.
“Jim” Teague, chief executive officer of Enterprise’s general partner.
“The cost-based tariff rates that are in effect for all of our
interstate pipelines are based on a cost of service for those pipelines
whereby the disallowance for the recovery of an income tax allowance
will not have a material effect, if any, to the posted tariffs.”
Enterprise Products Partners L.P. is one of the largest publicly traded
partnerships and a leading North American provider of midstream energy
services to producers and consumers of natural gas, NGLs, crude oil,
refined products and petrochemicals. Our services include: natural gas
gathering, treating, processing, transportation and storage; NGL
transportation, fractionation, storage and import and export terminals;
crude oil gathering, transportation, storage and terminals;
petrochemical and refined products transportation, storage and
terminals; and a marine transportation business that operates primarily
on the United States inland and Intracoastal Waterway systems. The
partnership’s assets include approximately 50,000 miles of pipelines;
260 million barrels of storage capacity for NGLs, crude oil, refined
products and petrochemicals; and 14 billion cubic feet of natural gas
This press release includes “forward-looking statements” as defined
by the Securities and Exchange Commission. All statements, other than
statements of historical fact, included herein that address activities,
events, developments or transactions that Enterprise and its general
partner expect, believe or anticipate will or may occur in the future
are forward-looking statements. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially from expectations, including required approvals by
regulatory agencies, the possibility that the anticipated benefits from
such activities, events, developments or transactions cannot be fully
realized, the possibility that costs or difficulties related thereto
will be greater than expected, the impact of competition, and other risk
factors included in Enterprise’s reports filed with the Securities and
Exchange Commission. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of their dates.
Except as required by law, Enterprise does not intend to update or
revise its forward-looking statements, whether as a result of new
information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180315006243/en/
Source: Enterprise Products Partners L.P.
Enterprise Products Partners L.P.
Randy Burkhalter, (713)
381-6812 or (866) 230-0745
Rainey, (713) 381-3635