MLPs Plunge Amid FERC Decision to End Income Tax Allowance Cost Recovery

Master limited partnerships (MLPs) have suffered sharp losses after the Federal Energy Regulatory Commission (FERC) announced it will no longer allow MLPs to recover an income tax allowance in cost of service rates. Many MLPs, including EEP, WMB, TCP, BPL, ETE, ETP, SNMP, PAGP, VLP, BWP, SHLX, ANDX, DCP, EPD, WPZ, MPLX, SEP, PAA, MMP, CQP, WGP, WES, APO, EQGP, PSXP, ENBL, and BEP, have slumped to 52-week lows.