CALGARY, AB, June 9, 2021 /CNW/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) announced today that in collaboration with the Government of Ontario it is expanding natural gas access to rural, northern and Indigenous communities in Ontario, Canada.
Enbridge will access Ontario's Natural Gas Expansion Program to support 27 projects to expand natural gas access across the province, helping to keep the cost of energy low for families, businesses and farmers.
The average household could save up to 50 percent in energy costs by switching to natural gas from costlier fuel sources, and businesses could save up to 30 per cent on energy costs per year. These important impacts are made possible through the ongoing support of the Government of Ontario and Enbridge's ongoing work with local communities.
"We're excited that Enbridge is bringing much-needed natural gas service to additional communities while supporting jobs and providing energy savings to residents and businesses," said Cynthia Hansen, Enbridge Executive Vice-President and President of Enbridge Gas Distribution and Storage. "We are pleased that the Government of Ontario selected these projects and look forward to working together with the province and local municipalities to continue to bring natural gas to more Ontario homes and businesses."
Expanding access to natural gas will continue to play a critical role in North America's energy future. It's a lower-carbon fuel compared to other fuel choices and provides a significant opportunity to help municipalities lower their greenhouse gas emissions. As a leader in the energy transition, Enbridge is committed to continuing its work to lower the emission intensity of the natural gas it transports through investment in renewable natural gas and hydrogen.
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 1,763 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.
Forward-Looking Information
Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge and its subsidiaries and affiliates, including management's assessment of Enbridge and its subsidiaries and affiliates' future plans and operations. This information may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as ''anticipate'', ''expect'', ''project'', ''estimate'', ''forecast'', ''plan'', ''intend'', ''target'', ''believe'', "likely" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information or statements included in this news release include, but are not limited to, statements with respect to energy transition, greenhouse gas emissions and the natural gas community expansion program (the "Program"), including the projects comprising the Program and their anticipated benefits, anticipated employment, costs and construction dates, and expected energy cost savings.
Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. Assumptions regarding the expected supply of and demand for energy, and the prices thereof, are material to and underlie all forward-looking statements, as they may impact current and future levels of demand for Enbridge's services and for the Program. Similarly, exchange rates, inflation, interest rates, energy transition, including the drivers and pace thereof, and the COVID-19 pandemic impact the economies and business environments in which Enbridge operates and may impact levels of demand for Enbridge's services and the Program as well as the cost of inputs and are therefore inherent in all forward-looking statements. Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on a forward-looking statement cannot be determined with certainty. The most relevant assumptions associated with forward-looking statements on announced projects and projects under construction such as the Program, including estimated construction dates and expected capital expenditures, include the following: the COVID-19 pandemic and the duration and impact thereof; the impact of customer, government and regulatory approvals on construction and in-service schedules and cost recovery regimes; the availability and price of labour and construction materials; the effects of inflation and foreign exchange rates on labour and material costs; the effects of interest rates on borrowing costs; and the impact of weather.
Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to those risks and uncertainties discussed in this press release and in Enbridge's other filings with Canadian and United States securities regulators. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and Enbridge's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on Enbridge's behalf, are expressly qualified in their entirety by these cautionary statements.
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SOURCE Enbridge Inc.
