TransCanada Corporation (TransCanada) confirmed that the Nebraska Public Service Commission (PSC) has approved an alternative route for the proposed Keystone XL Pipeline project through the state. TransCanada is evaluating the PSC's decision.

"As a result of today's decision, we will conduct a careful review of the Public Service Commission's ruling while assessing how the decision would impact the cost and schedule of the project," said Russ Girling, TransCanada's president and chief executive officer.

Apart from Keystone XL, TransCanada will continue to advance its $24 billion near-term capital program in addition to other longer-term opportunities. TransCanada's portfolio of high quality projects is expected to generate growth in earnings and cash flow to support an expected annual dividend growth rate at the upper end of an eight to 10 percent range through 2020.

About Keystone XL

Keystone XL is a proposed 36-inch-diameter crude oil pipeline, beginning in Hardisty, Alta. and extending south to Steele City, Neb. The project will be a key component of a much needed refocus on U.S. infrastructure investment while also producing thousands of well-paying jobs and substantial economic benefit to local communities and the U.S. GDP.

Keystone XL represents a safe, reliable, and environmentally sound way to connect the American economy with an abundant North American energy resource produced by a neighbor that shares a commitment to a clean and healthy environment. The energy it carries will ultimately fuel the daily lives of Americans.

About TransCanada

With more than 65 years' experience, TransCanada (TSX:TRP) (NYSE:TRP) is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TransCanada operates one of the largest natural gas transmission networks that extends more than 91,500 kilometres (56,900 miles), tapping into virtually all major gas supply basins in North America. TransCanada is the continent's leading provider of gas storage and related services with 653 billion cubic feet of storage capacity. A large independent power producer, TransCanada currently owns or has interests in approximately 6,200 megawatts of power generation in Canada and the United States. TransCanada is also the developer and operator of one of North America's leading liquids pipeline systems that extends approximately 4,800 kilometres (3,000 miles), connecting growing continental oil supplies to key markets and refineries. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP.