TC Energy Corporation (TSX, NYSE: TRP) CEO François Poirier said on Tuesday the company will invest US$8.5 billion over the next five years in new US power projects, based on a forecast of a 45 billion cubic feet per day increase in natural gas demand over the next decade.
Poirier made the announcement in an interview with Fox Business’ Mornings With Maria.
He attributed the new spending to gas-fired generation demand that will power artificial intelligence (AI) buildouts, pointing to the Midwest, Mid-Atlantic, and Gulf Coast regions as concurrent priorities.
TC Energy’s CEO also mentioned the faster US permitting process under the Trump administration, in which the construction time could be “cut in half or better”.
Furthermore, he said TC Energy raised its full-year profit guidance because “all of our pipeline capacity is being utilized to the maximum extent possible” amid broader economic growth.
Poirier also told an audience during the 2025 Concordia Annual Summit in New York, the “returns we can earn in the United States are significantly more attractive than they are in Canada.”
TC Energy stock rose 0.8% to C$73.68 in late afternoon trading on Tuesday.