This document is a comprehensive report on a company's activities throughout the preceding year.

With four congenerating plants in Alberta, TransCanada manages, operates and markets close to 450 megawatts (MW) of electricity. Alberta Power Marketing offers wholesale power for a range of industries, including agriculture, oil and gas, commercial real estate, large scale commercial and industrial, public institutions and brokers and consultants.

The document listed below in this Section and filed as Exhibit 99.1 to this Form 6-K is hereby filed with the Securities and Exchange Commission for the purpose of being and hereby is incorporated by reference into Registration Statement on Form F-9 (Reg. No. 333-121265) under the Securities Act of 1933, as amended.

The Management’s Discussion and Analysis (MD&A) dated February 22, 2007 should be read in conjunction with the audited Consolidated Financial Statements of TransCanada PipeLines Limited (TCPL or the Company) and the notes thereto for the year ended December 31, 2006.

Lockheed Martin And TC Energy Partner To Advance Alberta Sustainability And Decarbonization Efforts.

We connect North America’s energy. With more than 75 years of experience operating essential energy systems, we provide dependable energy across Canada, the U.S. and Mexico every day.