Enbridge Receives FERC Approval of Rate Settlement on Algonquin Gas Transmission system

Rhea-AI Summary

Enbridge Inc. announced on July 2, 2020, that Algonquin Gas Transmission, LLC received approval from the Federal Energy Regulatory Commission (FERC) for its uncontested rate settlement with customers. This settlement resolves all issues in Docket No. RP19-57-000 and terminates the FERC Form No. 501-G proceeding. Algonquin, a key natural gas pipeline owned by Enbridge, is vital for energy supply to New England and connects with other Enbridge pipelines. Enbridge is a leading North American energy infrastructure company, crucial for liquid and gas transportation.

Positive

• Approval of uncontested rate settlement by FERC enhances operational stability for Algonquin Gas Transmission.
• Settlement resolves all issues in Docket No. RP19-57-000, streamlining regulatory oversight.

Negative

• None.

HOUSTON, July 2, 2020 /PRNewswire/ - Enbridge Inc. (Enbridge) (TSX: ENB) (NYSE: ENB) announced today that Algonquin Gas Transmission, LLC (Algonquin) has received approval from the Federal Energy Regulatory Commission (FERC) of its uncontested rate settlement with customers. Additionally, this uncontested Settlement resolves all issues in Docket No. RP19-57-000 and therefore terminated Algonquin's FERC Form No. 501-G proceeding.  Algonquin and its customers collaborated to effectively resolve this matter in a mutually satisfactory manner.

Algonquin, an Enbridge-owned natural gas pipeline asset, delivers critical energy supply to New England consumers and surrounding markets, and interconnects with Enbridge-owned Texas Eastern and Maritimes & Northeast pipelines.

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:

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:http://www.prnewswire.com/news-releases/enbridge-receives-ferc-approval-of-rate-settlement-on-algonquin-gas-transmission-system-301087942.html

SOURCE Enbridge Inc.

FAQ

What recent approval did Enbridge receive regarding Algonquin Gas Transmission?

Enbridge received FERC approval for an uncontested rate settlement concerning Algonquin Gas Transmission.

What does the FERC approval mean for Algonquin Gas Transmission?

The FERC approval resolves all issues in Docket No. RP19-57-000, enhancing regulatory clarity and operational efficiency.

When was the FERC approval for Algonquin Gas Transmission announced?

The FERC approval was announced on July 2, 2020.

How does Algonquin Gas Transmission impact New England's energy supply?

Algonquin is a crucial natural gas pipeline that delivers energy to New England consumers and surrounding markets.

What is the stock symbol for Enbridge?

The stock symbol for Enbridge is ENB, trading on both the TSX and NYSE.