CPXWF - Enbridge to negotiate new Mainline commercial framework after rejection

Enbridge (ENB -2.1%) says it plans to negotiate a new go-forward commercial framework for its Mainline oil pipeline network, after the Canada Energy Regulator rejected its proposal to sell space through long-term contracts rather than on a monthly basis. The company says it will explore alternatives that may include a modified and extended Competitive Tolling Settlement agreement, a new incentive rate-making agreement, or a cost-of-service rate-making structure; any negotiated settlement would require CER approval before implementation. Enbridge expects Mainline throughput will remain strong over the next several years and the company's outlook is "positive," with the range of financial outcomes associated with an alternative commercial model being "manageable and not expected to materially impact" its overall financial results. Separately, Enbridge says it will collaborate with Capital Power Corp. (OTCPK:CPXWF) to evaluate and advance a carbon capture and storage project in Alberta. The proposed project would serve Capital Power's 1,200 MW

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Enbridge to negotiate new Mainline commercial framework after rejection