6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of January 2011

Commission File No. 1-31690

TransCanada Corporation

(Translation of Registrant's Name into English)

450 – 1 Street S.W., Calgary, Alberta, T2P 5H1, Canada

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ¨ Form 40-F þ

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Exhibit 99.1 and 99.2 to this report, furnished on Form 6-K, are furnished, not filed, and will not be incorporated by reference into any registration statement filed by the registrant under the Securities Act of 1933, as amended.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: January 20, 2011
 

TRANSCANADA CORPORATION
By:	/s/ Donald J. DeGrandis
	Donald J. DeGrandis
	Corporate Secretary

EXHIBIT INDEX

  99.1 A copy of the registrant’s News Release dated January 18, 2011.

  99.2 A copy of the registrant’s News Release dated January 20, 2011.

EX-99.1

EXHIBIT 99.1

NewsRelease

Bison Pipeline Begins Service Moving Natural Gas out of the Rockies

CALGARY, Alberta – January 18, 2010 – TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) today announced its Bison Pipeline became operational on Friday, January 14. The 303-mile (487-kilometre), 30-inch-diameter interstate pipeline has an initial capacity of 407 million cubic feet a day, all of which is currently under long-term contract. With additional compression, the pipeline is expandable to 1 billion cubic feet a day.

Bison begins in northeastern Wyoming and travels northeast through Montana and North Dakota before connecting with Northern Border Pipeline in North Dakota. Natural gas transported on Bison will reach Midwest markets via Northern Border, a pipeline partially owned indirectly through TransCanada’s interest in TC PipeLines, LP. Bison is TransCanada’s first pipeline to access natural gas produced in the U.S. Rocky Mountain region.

“The Rockies was one of the last major North American producing basins that we weren’t connected to,” said Russ Girling, TransCanada president and chief executive officer. “Bison provides new options both to producers in the Powder River Basin and to consumers in the Midwest."

“Connecting to Northern Border provides a lower-cost overall competitive solution for Bison’s customers, and it adds value to an existing asset by strengthening its contract profile and diversifying its gas supply mix,” Girling added.

With Bison operational, TransCanada has put into service six major projects in the last ten months.  The initial phase of the Keystone Oil Pipeline began commercial operation; North Central Corridor and Groundbirch pipelines began shipping natural gas through TransCanada’s Alberta System in 2010; Maine’s largest wind project – Kibby Wind – became fully operational in late October; and the Halton Hills Generating Station in Ontario began producing power in the fall as well.

TransCanada will continue bringing large-scale projects into service in the coming months, including the Keystone Cushing extension, the Guadalajara natural gas pipeline in Mexico and the Coolidge Generating Station in Arizona.

Collectively, these projects are expected to generate approximately $1 billion of earnings before interest, taxes, depreciation and amortization (EBITDA) to TransCanada in 2011.

With more than 50 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 60,000 kilometres (37,000 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 10,800 megawatts of power generat ion in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com.

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Media Enquiries:	Terry Cunha	(403) 920-7859  (800) 608-7859
Investor & Analyst Enquiries:	David Moneta/Terry Hook/Lee Evans	(403) 920-7911  (800) 361-6522

EX-99.2

EXHIBIT 99.2

NewsRelease

TransCanada to Transport U.S. Crude Oil to Market

Bakken Open Season a Success

CALGARY, Alberta – January 20, 2011 – TransCanada Corporation (TransCanada) (TSX, NYSE: TRP)today announced it has concluded a successful open season for the Bakken Marketlink Project which will deliver U.S. crude oil from Baker, Montana to Cushing, Oklahoma.  Bakken Marketlink will transport U.S. crude oil production to market using pipeline facilities that form part of the Keystone XL system.  The project has secured a total of 65,000 barrels p er day (Bbl/d) of firm, term contracts.  The Bakken formation is one of the fastest growing crude oil plays in the United States.

“These agreements are a clear indication of producer support for the first direct link between the prolific Bakken crude oil producing region in the Williston Basin and key U.S. markets near Cushing, Oklahoma and the U.S. Gulf Coast, the largest refining market in North America,” said Russ Girling, TransCanada’s president and chief executive officer. “This project will provide U.S. producers with an alternative and competitive way of bringing their crude oil to market and supports American workers who produce the oil and American companies who will refine it.”

Keystone XL’s proximity to the key Bakken crude oil producing regions within the Williston Basin uniquely positions TransCanada to provide an effective market access alternative for U.S. Bakken crude oil production to reach Cushing, Oklahoma and the U.S. Gulf Coast.

Crude oil forecasts for the U.S. Bakken region continue to grow with production expected to increase by approximately 200,000 – 300,000 bpd by 2015. The Bakken Marketlink Project will help to relieve pipeline capacity constraints in the Williston Basin and will support forecasted growth in U.S. domestic crude oil production.

Keystone XL has extensive support south of the border and will reduce America’s dependence on crude oil from Venezuela and the Middle East by up to 40 per cent.  The expansion will also create 20,000 jobs for American workers and inject $20 billion into the U.S. economy. 

The project is expected to be in service in the first quarter of 2013, subject to the receipt of necessary regulatory approvals.

With more than 50 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 60,000 kilometres (37,000 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns, or has interests in, over 10,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com

TRANSCANADA FORWARD-LOOKING INFORMATION

This news release may contain certain information that is forward looking and is subject to important risks and uncertainties. The words "anticipate", "expect", "believe", "may", "should", "estimate", "project", "outlook", "forecast" or other similar words are used to identify such forward-looking information. Forward-looking statements in this document are intended to provide TransCanada securityholders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future financial and operations plans and outlook.  Forward-looking statements in this document may include, among others, statements regarding the anticipated business prospects and financial performance of TransCanada and its subsidiaries, expectations or projections about the future, and strategies and goals for growth and expansion.  All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among others, the ability of TransCanada to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the operating performance of TransCanada's pipeline and energy assets, the availability and price of energy commodities, capacity payments, regulatory processes and decisions, changes in environmental and other laws and regulations, competitive factors in the pipeline and energy sectors, construction and completion of capital projects, labour, equipment and material costs, access to capital markets, interest and currenc y exchange rates, technological developments and the current economic conditions in North America. By its nature, forward looking information is subject to various risks and uncertainties, which could cause TransCanada's actual results and experience to differ materially from the anticipated results or expectations expressed. Additional information on these and other factors is available in the reports filed by TransCanada with Canadian securities regulators and with the U.S. Securities and Exchange Commission (SEC). Readers are cautioned to not place undue reliance on this forward looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.

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Media Enquiries:	Terry Cunha	(403) 920-7859  (800) 608-7859
Investor & Analyst Enquiries:	David Moneta/Terry Hook/Lee Evans	(403) 920-7911  (800) 361-6522