CALGARY, Sept. 29, 2019
/PRNewswire/ - On September 27, the
Canada Energy Regulator (CER) ordered that Enbridge Inc. (TSX: ENB)
(NYSE: ENB) (Enbridge or the Company) may not offer firm
service to prospective shippers on the Mainline until such firm
service, including all associated tolls and terms and conditions of
service, has been approved by the CER.
Although this decision changes the timing of the open season,
Enbridge today re-affirmed its plan to proceed with contracting of
its Mainline system in response to its customers' needs through an
expected filing of a regulatory application seeking approval of
firm service, on terms and conditions approved by the CER.
"Our Mainline contract offering is the result of 18 months of
extensive negotiations with our diverse customer base and enjoys
strong support from a cross section of shippers on our system,"
said Guy Jarvis, Executive Vice
President, Liquids Pipelines, Enbridge. "The offering includes a
number of features and enhancements to accommodate shippers' needs
and priorities. Customers representing a significant percentage of
capacity on the Mainline support the approach."
"Friday's decision by the CER is a departure from the decades of
precedent and commercial practice in our industry. Although the CER
decision results in a change to the process of securing commercial
support through an open season in advance of the regulatory
application, it does not change our plans to respond to the desires
of our customers for priority access to Mainline capacity, toll
certainty and access to the best markets that contract carriage
offers."
Enbridge will file an application with the CER seeking approval
of a firm service offering as soon as practical.
Forward-Looking Information
Forward-looking
information, or forward-looking statements, have been included or
incorporated by reference in this news release to provide
information about Enbridge Inc. ("Enbridge" or the "Company") and
its subsidiaries and affiliates, including management's assessment
of Enbridge and its subsidiaries' and affiliates' future plans and
operations. This information may not be appropriate for other
purposes. Forward-looking statements are typically identified by
words such as ''anticipate'', ''expect'', ''project'',
''estimate'', ''forecast'', ''plan'', ''intend'', ''target'',
''believe'', "likely" and similar words suggesting future outcomes
or statements regarding an outlook. Forward-looking information or
statements included or incorporated by reference in this document
include, but are not limited to, statements with respect to the
proposed contract offering of the Canadian Mainline pipeline
system, including the benefits and timing thereof and the process
and timetable to file and receive applicable governmental,
regulatory and other approvals, including any approvals of the
Canada Energy Regulator.
Although Enbridge believes these forward-looking statements
are reasonable based on the information available on the date such
statements are made and processes used to prepare the information,
such statements are not guarantees of future performance and
readers are cautioned against placing undue reliance on
forward-looking statements. By their nature, these statements
involve a variety of assumptions, known and unknown risks and
uncertainties and other factors, which may cause actual results,
levels of activity and achievements to differ materially from those
expressed or implied by such statements. Assumptions regarding the
expected supply of and demand for crude oil, natural gas, NGL and
renewable energy, and the prices of these commodities, are material
to and underlie all forward-looking statements, as they may impact
current and future levels of demand for the Company's services.
Similarly, exchange rates, inflation and interest rates impact the
economies and business environments in which the Company operates
and may impact levels of demand for the Company's services and cost
of inputs, and are therefore inherent in all forward-looking
statements. Due to the interdependencies and correlation of these
macroeconomic factors, the impact of any one assumption on a
forward-looking statement cannot be determined with
certainty.
Enbridge's forward-looking statements are subject to risks
and uncertainties, including, but not limited to customer and
regulatory approvals and other risks and uncertainties discussed in
this news release and in the Company's other filings with Canadian
and United States securities
regulators. The impact of any one risk, uncertainty or factor on a
particular forward-looking statement is not determinable with
certainty as these are interdependent and Enbridge's future course
of action depends on management's assessment of all information
available at the relevant time. Except to the extent required by
applicable law, Enbridge assumes no obligation to publicly update
or revise any forward-looking statements made in this news release
or otherwise, whether as a result of new information, future events
or otherwise. All subsequent forward-looking statements, whether
written or oral, attributable to Enbridge or persons acting on the
Company's behalf, are expressly qualified in their entirety by
these cautionary statements.
About Enbridge Inc.
Enbridge Inc. is a
leading North American energy infrastructure company. We safely and
reliably deliver the energy people need and want to fuel quality of
life. Our core businesses include Liquids Pipelines, which
transports approximately 25 percent of the crude oil produced in
North America; Gas Transmission
and Midstream, which transports approximately 20 percent of the
natural gas consumed in the U.S.; and Utilities and Power
Operations, which serves approximately 3.7 million retail customers
in Ontario, Quebec and New
Brunswick, and generates approximately 1,600 MW of net
renewable power in North America
and Europe. The Company's common
shares trade on the Toronto and
New York stock exchanges under the
symbol ENB. For more information, visit www.enbridge.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Media
Jesse Semko
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment Community
Jonathan
Morgan
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
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SOURCE Enbridge Inc.