RNS Number:0850J
TransCanada Pipelines Ld
21 March 2003

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NewsRelease

                  TransCanada Responds to Ontario Government's

                             Power Market Decision

CALGARY, Alberta - March 21, 2003 - (TSX: TRP) (NYSE: TRP) - Hal Kvisle, chief
executive officer of TransCanada PipeLines Limited, responded today to the
Ontario government's decision not to include large industrial or commercial
customers in the 4.3 cent per kilowatt hour electricity rate guarantee that now
applies to small volume and designated users.

"We are pleased and encouraged by the government's decision to let Ontario's
wholesale power business remain open to market competition," said Mr. Kvisle.
"Ontario remains a key power market for TransCanada and we support the need for
a strong and effective wholesale market for the long-term benefit of all
electricity consumers in Ontario. An effective wholesale market is one that is
not just "open" to competition, but actually achieves a high level of
competition. A truly competitive Ontario wholesale market will succeed in
attracting new and stable sources of power supply for residential and business
consumers."

TransCanada has been active in the Ontario power market for more than 10 years.
The company has an interest in a total of approximately 1,700 megawatts of power
in the province through six facilities.

TransCanada is a leading North American energy company. We are focused on
natural gas transmission and power services with employees who are expert in
these businesses. Our network of approximately 38,000 kilometres of pipeline
transports the majority of western Canada's natural gas production to the
fastest growing markets in Canada and the United States. TransCanada has
interests in more than 4,000 megawatts of power - an equal amount of power can
meet the needs of about four million average households. Our common shares trade
under the symbol TRP on the Toronto and New York stock exchanges. Visit us on
the internet at www.transcanada.com for more information.



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Media Inquiries:                  Glenn Herchak/Hejdi Feick   (403) 920-7877

Investor & Analyst Inquiries:     David Moneta/Debbie Persad  (403) 920-7911


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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