ENB — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-31

• Vector Pipeline L.P. (Vector) filed a rate case on May 30, 2025 and a settlement in principle was reached with all active participants in February 2026. The Stipulation and Agreement was approved by the FERC on May 26, 2026 with rates effective April 1, 2026.

• In relation to Enbridge Gas Inc. (Enbridge Gas Ontario)'s application with the Ontario Energy Board (OEB) to establish a 2024-2028 Incentive Regulation rate setting framework, undertaken in three phases, Enbridge Gas Ontario continues to appeal the OEB's Phase 1 findings on depreciation, equity thic…

• In March 2026, the OEB issued a decision approving the settlement proposal for Phase 3 of Enbridge Gas Ontario's application, which addressed cost allocation and the harmonization of rates, rate classes, and services. The remaining non-ratemaking Phase 3 matters are being addressed through a written…

• On May 11, 2026, Enbridge Pipelines Inc. (EPI) redeemed, at par, all of the outstanding $400 million 3.00% medium-term notes that carried an original maturity date in August 2026.

• On June 16, 2026, we completed an exchange of all outstanding series of EPI medium-term notes (EPI Notes) for an equal principal amount of newly issued medium-term notes of Enbridge Inc. (Enbridge Notes), with financial terms identical to those of the EPI Notes (the Note Exchange Transaction) and wh…

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• The toll settlement agreement for Maritimes & Northeast Pipeline Limited Partnership Canada (M&N Canada) expired in December 2025. M&N Canada reached a toll settlement with shippers for the effective period from January 1, 2026 to December 31, 2027. On December 15, 2025, M&N Canada filed the 2026–20…

• Vector Pipeline L.P. (Vector) filed a rate case on May 30, 2025. On June 30, 2025, the FERC issued an order accepting and suspending tariff records filed in this rate case. In compliance with the order, Vector placed the proposed tariff rates into effect on July 1, 2025. On July 1, 2025, the chief a…

• In relation to Enbridge Gas Inc. (Enbridge Gas Ontario)'s application with the Ontario Energy Board (OEB) to establish a 2024-2028 Incentive Regulation rate setting framework, undertaken in three phases, Enbridge Gas Ontario continues to appeal the OEB's Phase 1 findings on depreciation, equity thic…

• In March 2026, the OEB issued a decision approving the settlement proposal for Phase 3 of Enbridge Gas Ontario's application, which addressed cost allocation and the harmonization of rates, rate classes, and services. The remaining non-ratemaking Phase 3 matters will be addressed through a written h…

• These financing activities, in combination with the financing activities executed in 2025, provide significant liquidity that we expect will enable us to fund our current portfolio of capital projects and other operating working capital requirements through potential periods of extended market disru…

Text added vs the prior filing · source: 10-Q · 2026-07-31

• Tariffs and other trade measures announced, imposed, modified, suspended, terminated or replaced by the US, together with potential, announced or implemented retaliatory tariffs by other governments on imports from the US, and other potential measures, including duties, fees, economic sanctions or o…

• On July 1, 2026, the formal review period for USMCA began with the US Government announcing its intent not to renew the agreement without changes. As a result, the USMCA is not renewed; however, the agreement remains in force pending resolution of these issues or until the agreement’s termination in…

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• Terrorist attacks and threats, escalation of military activity in response to these attacks or acts of war, other civil unrest or activism, or geopolitical uncertainty could adversely affect our business, operations or financial results.

• Terrorist attacks and threats (which may take the form of cyber attacks), escalation of military activity, armed hostilities, war, sabotage, or civil unrest or activism may disrupt general economic conditions, cause fluctuations in consumer confidence and spending, and affect market liquidity, all o…

• In addition, increased environmental activism against energy infrastructure could lead to work delays, reduced demand for our services, new or stricter legislation or public policy, or denial or delay of permits and rights-of-way. We also face risks related to international relations and geopolitica…

• The announcement and imposition of tariffs by the US, together with potential, announced or implemented retaliatory tariffs by other governments on imports from the US, and other potential measures, including duties, fees, economic sanctions or other trade measures, as well as the potential impacts …

• tariff on Canadian goods that are non-compliant under the United States-Mexico-Canada Agreement (USMCA) (excludes crude oil, natural gas and natural gas liquids);