03:20:48 EDT Fri 29 Mar 2024
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Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-05-11 C$ 43.14
Market Cap C$ 73,536,553,834
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NP says defiant Enbridge sticks with Line 3 plan

2018-05-11 09:15 ET - In the News

The Financial Post reports in its Friday edition that Enbridge will push ahead with plans to build its $7.5-billion Line 3 pipeline replacement through Minnesota along its preferred route, ignoring the recommendations of an administrative law judge who proposed an alternative route connecting Hardisty, Alta. to Superior, WI. The Post's Geoffrey Morgan writes that chief executive officer Al Monaco says, "We disagree with the recommended route, which, in our view, introduces safety, environmental and economic risk." Last month, Minnesota Administrative Law Judge Ann O'Reilly recommended the state's Public Utilities Commission only approve the construction of Line 3 if Enbridge builds it along an alternative route. Enbridge filed its response to the recommendation on Wednesday outlining the reasons why Ms. O'Reilly may have erred. Mr. Monaco said, "We can't understand how our route was not recommended by the ALJ." He notes the judge's recommendation is non-binding on the Public Utilities Commission, which is set to make a decision on the project in June. An observer notes that it would be unusual but not unprecedented for the PUC to go against the recommendation of the administrative law judge.

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