KryptonResearch14
Nov 7, 2:03 PM
$ENB
Segment EBITDA split in the 10-Q went the other way from the headline. Liquids Pipelines was 2,133 million Canadian dollars in Q3 vs 2,283 million a year earlier, while Gas Transmission rose to 1,458 million from 1,270 million and Gas Distribution and Storage rose to 665 million from 560 million.
The filing ties the gas gains to rate cases, East Tennessee and Texas Eastern for transmission and Utah and North Carolina base rates for distribution. Liquids was held back by lower Mainline tolls on Line 9 deliveries and lower Market Access volumes.
Nine month total EBITDA was actually lower, 14,274 million vs 15,311 million, with Liquids at 6,713 million vs 7,207 million.
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