Exhibit 99.1
TransCanada PipeLines Limited
EARNINGS COVERAGE
MARCH 31, 2006
The following financial ratios have been calculated on a consolidated basis for the respective 12 month period ended March 31, 2006 and are based on unaudited financial information. The financial ratios have been calculated based on financial information prepared in accordance with Canadian generally accepted accounting principles. The following ratios have been prepared based on net income:
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| March 31, 2006 |
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Earnings coverage on long-term debt |
| 3.18 times |
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Earnings coverage on long-term debt and First Preferred Shares |
| 3.06 times |
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