CALGARY, May 19, 2020 /PRNewswire/ - Today, the Canada
Energy Regulator (CER) announced that the regulatory process for
Enbridge Inc.'s (TSX: ENB) (NYSE: ENB) proposal to offer contracted
transportation service on the Mainline pipeline system will proceed
in a single phase hearing process that balances the need to address
pandemic-related challenges and the Commission's mandate to
adjudicate in an appropriately expeditious manner.
"Mainline contracts will provide shippers with priority access
to the best markets, at competitive and stable tolls, ensuring
certainty of demand for Canadian light and heavy crude oil over the
long-term and supporting the best netbacks for Western Canadian
producers, said Vern Yu, Enbridge
Executive Vice President and President of Liquids Pipelines.
"Mainline contracting was developed and refined over a two-year
period in response to customer input and negotiation. The
offering has strong support from a wide cross-section of producers
and refiners representing greater than 70 percent of the Mainline's
current throughput."
Forward-Looking Statement
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 Mainline contract offering, including the
benefits and timing thereof and the process and timetable to
receive applicable governmental, regulatory and other approvals,
including the approval 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, and the
COVID-19 pandemic and the duration and impact thereof, affect 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 the COVID-19 pandemic, 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.; Gas Distribution and Storage, which serves
approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which
generates approximately 1,750 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:
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Media
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Investment
Community
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Jesse
Semko
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Jonathan
Morgan
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Toll Free: (888)
992-0997
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Toll Free: (800)
481-2804
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Email:
media@enbridge.com
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Email:
investor.relations@enbridge.com
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SOURCE Enbridge Inc.