04:22:45 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,695,000,042
Close 2018-03-09 C$ 40.99
Market Cap C$ 69,478,051,722
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Globe says Hydro One vying to replace power consortium

2018-03-12 08:36 ET - In the News

See In the News (C-H) Hydro One Ltd

The Globe and Mail reports in its Monday edition that Hydro One has launched an effort to replace a competing consortium to build a transmission project aimed at bringing more reliable power to communities in Northwestern Ontario. The Globe's Shawn McCarthy writes that as NextBridge Infrastructure enters the final stages for regulatory approval, Hydro One is urging the provincial regulator to allow it to build the project instead, saying it can save Ontario ratepayers $120-million in capital costs and $3.5-million in annual operating costs. Hydro One plans to hold public meetings along the route later this month, and will consult with first nations which have already agreed to take a 20-per-cent interest with NextBridge, a consortium comprising Enbridge, NextEra Energy and the Ontario Municipal Employees Retirement System. The Ontario government has designated the East-West Tie from Wawa to Thunder Bay as a priority project that is needed to bolster economic development and provide electricity to underserviced communities in the region north of Lake Superior. About 23 new mines are proposed for the region and proponents want to be able to count on an upgraded electricity system to power their operations.

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