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    ENB   CA29250N1050

ENBRIDGE INC.

(ENB)
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CER Issues Mainline Contracting Regulatory Decision

11/26/2021 | 05:55pm EST

CALGARY, AB, Nov. 26, 2021 /CNW/ - 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 75% of Mainline shippers, by volume, reflecting its competitive toll and overall shipper benefits.

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

Cision
View original content:https://www.prnewswire.com/news-releases/cer-issues-mainline-contracting-regulatory-decision-301432524.html

SOURCE Enbridge Inc.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 47 002 M 37 209 M 37 209 M
Net income 2021 5 423 M 4 293 M 4 293 M
Net Debt 2021 75 801 M 60 006 M 60 006 M
P/E ratio 2021 18,7x
Yield 2021 6,56%
Capitalization 103 B 81 606 M 81 591 M
EV / Sales 2021 3,81x
EV / Sales 2022 3,43x
Nbr of Employees 11 200
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 50,87 CAD
Average target price 55,30 CAD
Spread / Average Target 8,72%
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Managers and Directors
Albert Monaco President, CEO & Non-Independent Director
Vern D. Yu Chief Financial Officer & Executive Vice President
Gregory Lorne Ebel Non-Executive Chairman
Bhushan Ivaturi Chief Information Officer & Senior Vice President
Tyler W. Robinson Chief Compliance Officer & VP-Enterprise Security
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