Enbridge Inc. · TSX:ENB
Enbridge — Investor Presentation (November 2023)
17 slides from Enbridge's investor presentation, Nov 21, 2023
Slide 1: Enbridge Mainline Tolling Settlement Joint Virtual Industry Open House
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Enbridge Mainline Tolling Settlement Joint Virtual Industry Open House Brent Heinz (Enbridge), Joanne Pasini (FHR), John Van Heyst (Suncor
Slide 2: Safety Moment: Cyber security
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Safety Moment Cyber security • One of the most critical factors determining if you click on a phishing email is context • Criminals try an
Slide 3: Mainline Tolling Settlement
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Mainline Tolling Settlement • RSG approved the Mainline Tolling Settlement (MTS) Term Sheet on May 2, 2023. • Enbridge worked with a subgr
Slide 4: Key MTS Highlights
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Key MTS Highlights Term 7.5 years; Jul 1, 2021 – Dec 31, 2028 Headline IJT US$4.63/bbl, a ~US$0.75 reduction to the Base interim IJT toll
Slide 5: Mainline Tolling Settlement Key Principles
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Mainline Tolling Settlement Key Principles • Level of service and toll certainty • Cost informed tolls • Risk sharing • Line 5 treatment •
Slide 6: Level of Service and Toll Certainty
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Level of Service and Toll Certainty • No change in the level of service or operation of the Mainline • 100% common carrier • If there is a
Slide 7: Cost Informed Tolls
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Cost Informed Tolls • Industry has benefitted from an immediate toll reduction with the interim tolls in effect on July 1 • Initial headli
Slide 8: Cost Informed Tolls continued
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Cost Informed Tolls continued • O&A component of the Base IJT Tolls will be escalated by US CPI, starting July 1, 2024 • Power components
Slide 9: Risk Sharing within a Financial Return Collar
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Risk Sharing within a Financial Return Collar • The Annual MTS Financial Return derived from tolls will fall within the Financial Return C
Slide 10: Line 5 Treatment
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Line 5 Treatment • Line 5 risk sharing commercial framework • Enbridge will exclude costs spent up to December 31, 2022, and up to approxi
Slide 11: Jurisdictional Cost Alignment
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Jurisdictional Cost Alignment • Initial MTS tolls are set to equalize ROE’s between the Canadian Mainline and Lakehead for the Test Year •
Slide 12: Regulatory Peace
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Regulatory Peace • No change in access to the Mainline (100% common carrier) • Settlement of the interim period • Term of 7.5 years provid
Slide 13: Approvals and Reporting
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Approvals and Reporting • RSG approval required for: • Annual funding for the Line 5 Relocation and Tunnel projects • Any non-integrity ca
Slide 14: Next Steps
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Next Steps • Enbridge will conduct second RSG vote on the MTS Agreement, on December 14. • Enbridge will submit the MTS Application to the
Slide 15: Q&A
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Q&A CONFIDENTIAL AND WITHOUT PREJUDICE 15 Commercially Sensitive Information – November 21, 2023 Page 15 of 17
Slide 16: Appendix
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Appendix Page 16 of 17
Slide 17: Legal Notice
Enbridge Pipelines Inc. Appendix 4 - Open House Presentation, November 21, 2023 Mainline Tolling Settlement and Final Toll Application Filed on December 15, 2023 Legal Notice This presentation (the “Presentation”) has been prepared and is presented solely for the purpose of providing the recipients