CER Issues Mainline Contracting Regulatory Decision
Enbridge Inc. (TSX: ENB, NYSE: ENB) announced a decision from the Canada Energy Regulator (CER) regarding its commercial proposal for transportation contracting on its Mainline pipeline system, which transports 3 million barrels of liquids daily.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Enbridge Inc. (TSX: ENB, NYSE: ENB) announced a decision from the Canada Energy Regulator (CER) regarding its commercial proposal for transportation contracting on its Mainline pipeline system, which transports 3 million barrels of liquids daily. This proposal, submitted in December 2019, received support from over 75% of Mainline shippers by volume. Enbridge is currently reviewing the CER's decision and will comment further after the review is complete.
Positive
- The proposal received support from over 75% of Mainline shippers by volume, indicating strong market confidence.
- The Mainline pipeline system plays a crucial role in transporting approximately 3 million barrels daily.
Negative
- None.
Details
News Market Reaction – ENB
The recorded move for ENB in the trading session of this news was -2.00%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CALGARY, AB, Nov. 26, 2021 /PRNewswire/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today received a decision from the Canada Energy Regulator (CER) on the Company's commercial proposal to offer transportation contracting on its Mainline pipeline system, which moves approximately 3 million barrels a day of liquids from Edmonton, AB to essential U.S. demand centers.
Enbridge submitted a regulatory application to the CER in December 2019 to offer contracted transportation service on the Mainline pipeline system and participated in a rigorous regulatory process in 2020 and 2021. Throughout the regulatory review, the offering has been supported by over
Enbridge is currently reviewing the CER's decision. We will provide further comment after completing that review.
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 owns approximately 1,766 megawatts (net) in renewable power generation capacity 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
Toll Free: (888) 992-0997
Email: media@enbridge.com
Investment Community
Toll Free: (800) 481-2804
Email: investor.relations@enbridge.com
View original content:https://www.prnewswire.com/news-releases/cer-issues-mainline-contracting-regulatory-decision-301432524.html
SOURCE Enbridge Inc.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.