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or Name
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CA



Enbridge Inc
Symbol ENB
Shares Issued 855,034,826
Close 2015-05-13 C$ 61.04
Market Cap C$ 52,191,325,779
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Globe/AP say Enbridge settles with Michigan over spill

2015-05-14 06:16 ET - In the News

The Globe and Mail reports in its Thursday edition that Enbridge has reached a settlement with the State of Michigan nearly five years after a broken pipeline spilled more than three million litres of oil into wetlands and the Kalamazoo River. An Associated Press dispatch to The Globe reports that state officials say Enbridge has agreed to restore or create 120 hectares of wetlands valued at $30-million (U.S.) as part of the agreement to improve the watershed in southwestern Michigan. The settlement also requires Enbridge to continue to monitor the impacts of the spill on the environment and pay $12-million (U.S.) to reimburse the state for legal costs and the expense of overseeing cleanup and restoration. Enbridge has also agreed to spend $75-million (U.S.), much of it on various projects including a dam removal and improved access to boating and fishing on the river. Some projects have been finished. The improvements are on top of Enbridge's costs directly related to the spill, which have been pegged at more than $1-billion (U.S.). The pipeline runs through Michigan and carries oil between Ontario and Griffith, Ind. Wetlands are considered to be crucial in a watershed.

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