RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2015

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

The following amounts are included in Due from affiliates:

		2015			2014
(millions of Canadian $)	Maturity Date	Outstanding at December 31	Effective Interest Rate		Outstanding at December 31	Effective Interest Rate
Discount Notes1	2016	2,376	0.9	%	2,597	1.3	%
Credit Facility2		100	2.7	%	245	3.0	%
		2,476			2,842

¹  Issued to TransCanada. Interest on the discount notes is equivalent to current commercial paper rates.

²  Issued to TransCanada. This facility is repayable on demand and bears interest at the Royal Bank of Canada prime rate per annum.

In 2015, Interest income included $29 million as a result of inter-corporate lending to TransCanada (2014 –$37 million; 2013 –$38 million).

At December 31, 2015, Accounts receivable included $13 million due from TransCanada (December 31, 2014 –$59 million).

The following amounts are included in Due to affiliates:

		2015			2014
(millions of Canadian $)	Maturity Date	Outstanding at December 31	Effective Interest Rate		Outstanding at December 31	Effective Interest Rate
Credit Facility1	2016	311	3.5	%	866	3.8	%
		311			866

¹  TransCanada has an unsecured $3.5 billion credit facility with a subsidiary of TCPL. Interest on this facility is charged at Reuters prime rate plus 75 basis points.

In 2015, Interest expense included $28 million of interest charges as a result of inter-corporate borrowing (2014 –$37 million; 2013 - $62 million).

At December 31, 2015, Accounts payable and other included $12 million due to TransCanada (December 31, 2014 –$16 million).

At December 31, 2015, Accrued interest included nil of interest payable to TransCanada (December 31, 2014 –$1 million).

In 2015, the Company made interest payments of $29 million to TransCanada (2014 –$37 million; 2013 –$62 million).