Enbridge gets CER approval for Mainline Tolling Settlement through 2028, extends growth outlook, adds $0.5B investments

ENBRIDGE INC

CER approved Mainline Tolling Settlement effective through Dec 31, 2028, retroactive to July 1, 2021, with unanimous industry support.
Enbridge extends average annual EBITDA growth outlook to 7-9% through 2026; EPS growth 4-6%, DCF per share ~3%.
Reaffirms 2024 full-year financial guidance for adjusted EBITDA and DCF per share; acquisitions of U.S. gas utilities expected to close in 2024.
Announces accretive new investments: Gray Oak pipeline expansion (120 kbd), EIEC storage (2.5M bbl), FHR docks acquisition (~$0.2B), Oceanus pipeline with Shell (~$0.2B).
Secured growth backlog now $25B; post-2026 average annual growth outlook of ~5% for EBITDA, EPS, DCF per share.

item 1.01 item 7.01 item 9.01

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

ENBRIDGE INC entered into Mainline Tolling Settlement with Canada Energy Regulator (effective 2024-03-04).

Action: entry
Counterparty: Canada Energy Regulator
Effective: 2024-03-04

Exact text from the filing

On March 4, 2024, the Canada Energy Regulator approved Enbridge Inc.’s (“Enbridge”) Mainline Tolling Settlement (“MTS”), which will be effective until December 31, 2028.

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Source: SEC EDGAR

accession 0001193125-24-063693

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