Who Are the Core Customers of TC Energy Company?

Regulated utilities and Local Distribution Companies (LDCs) across Canada, the United States, and Mexico are the primary customer group for TC Energy customers, relying on firm pipeline capacity and contracted takeaway to serve residential heating and commercial power needs; utilities accounted for an estimated ~45-50% of pipeline throughput contract value in 2025.

Global energy firms and LNG exporters using the NGTL system and Coastal GasLink to feed LNG Canada make up a critical TC Energy core customers segment; long-term offtake agreements tied to the LNG terminal drove multi-decade contracted revenues and represented roughly 25-30% of 2025 gas transmission contracted capacity.

TC Energy serves institutional, business, and municipal customers-primarily pipeline customers and natural gas shippers-rather than mass retail consumers; revenues in 2025 remained driven by long-term contractual customers rather than spot-market sales.

Hyperscale data center operators and technology firms emerged as the fastest-growing TC Energy customer segment in 2025, contracting firm power and pipeline capacity to support 24/7 AI workloads; this commercial push contributed to incremental power sales and non-gas transmission fee growth estimated at ~10-15% year-over-year in targeted markets.

The US Gulf Coast is the primary market for TC Energy customers because LNG export demand rose by about 15 percent year-over-year in 2025, increasing pipeline offtake and long-haul shipping contracts with natural gas shippers and LNG exporters using TC Energy pipelines.

The Western Canadian Sedimentary Basin anchors supply with the NGTL system managing receipts over 13 billion cubic feet per day, while Mexico's Southeast Gateway Pipeline (commercial from mid-2025) adds 1.3 billion cubic feet per day of high-margin demand for industrial and municipal customers.

TC Energy customers list utilities, LNG exporters, and large industrials; the company is strongest in long-haul transmission and cross-border capacity where contracted shipper revenues and tolls make up a significant portion of 2025 transport income.

PJM Interconnection and the Southeast US show rapid demand growth as coal-to-gas switching and new gas-fired power plants for digital economy loads increase take-or-pay nominations from electric utility customers and power generators that contract with TC Energy.

TC Energy leverages Bruce Power life-extension investments and pipeline modernization to sell services to power generators, hydrogen project developers, and carbon sequestration operators, expanding TC Energy customer segments beyond traditional natural gas shippers while keeping pipeline customers engaged. Why Customers Choose TC Energy Company

By spinning off the liquids business in 2024 and emphasizing gas-and-power utilities, TC Energy sharpened focus on regulated transmission revenues; its disciplined US$6-7 billion annual 2026 capital program prioritizes pipeline integrity, hydrogen-ready retrofits, and CCS-ready corridors to retain municipal and provincial customers and long-term shippers.

TC Energy increases stickiness through long-term contracts with electric utility customers, LNG exporters, and industrials, offering bundled gas transportation, interconnection to Bruce Power capacity, and CO2 transport options-boosting renewal rates and repeat demand among core customers.

The strongest growth lever is positioning pipelines as hydrogen-ready and CCS-capable assets, which attracts ESG-aligned institutional capital and new commercial customers; this strategy supports higher-margin power sales during the AI-driven electricity demand surge while preserving TC Energy core customers-natural gas shippers and electric utility customers.