CALGARY - Enbridge Inc. (TSX: NYSE:ENB) (NYSE: ENB) reported that the Canada Energy Regulator (CER) has approved a negotiated settlement for the Mainline pipeline system's tolling structure, which will remain in effect until December 31, 2028. This settlement establishes the tariffs for the transportation of crude oil and liquids from Western Canada across the continent.
The CER's approval follows the guidelines for negotiated settlements and confirms the tariffs that have been applied on an interim basis since July 1, 2023. These tariffs are retroactively effective from July 1, 2021.
Colin Gruending, President of Liquids Pipelines at Enbridge, expressed satisfaction with the CER's decision, highlighting the unanimous approval from the industry and the benefits it brings to customers, Enbridge, and the broader North American energy market.
Gruending stated, "Our customers will continue to receive competitive and responsive service; Enbridge will earn attractive risk-adjusted returns; and the Mainline will continue to feed North America and global markets with a long-term source of safe, secure, and affordable energy."
The Mainline is a critical component of North America's energy infrastructure, delivering energy products safely and reliably. Enbridge emphasizes its commitment to investing in both traditional and modern energy infrastructure, with a focus on sustaining access to secure and affordable energy.
The company has also stated its goal to achieve net zero greenhouse gas emissions by 2050, with ongoing investments in technologies such as hydrogen, renewable natural gas, carbon capture, and storage.
Enbridge, headquartered in Calgary, Alberta, operates extensive networks for natural gas, oil, and renewable power in North America, as well as a growing offshore wind portfolio in Europe. The company's shares are traded on the Toronto and New York stock exchanges under the symbol ENB.
Further details regarding the Mainline Tolling Agreement can be found on the CER website. This news is based on a press release statement from Enbridge Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.