8-K

ENBRIDGE INC 8-K Report (Jul 2, 2014)

Filed July 2, 2014For Securities:ENBENBMFEBBGFEBRGFEBRZFENBGFENBRFENFFFEBGEFENBFFENBHFENBNFENBOFENBSFEBBNFENNPF

Summary

This Form 6-K filing by Enbridge Inc. (ENB) from July 2, 2014, primarily consists of two press releases that provide important updates for investors regarding the company's operations. The first press release, dated June 17, 2014, is a media advisory announcing a conference call to discuss the federal government's decision concerning the Northern Gateway Pipelines project. This indicates a significant regulatory development that could impact future projects and investor sentiment. The second and more detailed press release, dated June 26, 2014, focuses on Enbridge Gas Distribution's rate update in Ontario. It announces an approved decrease in the Cost Adjustment charge for residential customers, effective July 1, 2014. This decrease, stemming from the Ontario Energy Board's decision to spread costs related to a harsh winter over a longer period, is expected to lower monthly bills for typical residential customers, making natural gas a more economical heating choice compared to electricity and oil. The company also outlines various customer assistance programs and energy efficiency initiatives.

Key Highlights

  • 1Enbridge Inc. filed a Form 6-K on July 2, 2014, containing two press releases.
  • 2A media advisory was issued on June 17, 2014, regarding a conference call to discuss a federal government decision on Northern Gateway Pipelines.
  • 3Enbridge Gas Distribution received Ontario Energy Board (OEB) approval to decrease the Cost Adjustment charge for residential customers, effective July 1, 2014.
  • 4The OEB decision spreads the costs of a cold winter over 27 months instead of 12, reducing the monthly financial impact on customers.
  • 5A typical residential customer in Ontario can expect an approximate $12 monthly decrease in their bill compared to interim rates.
  • 6Natural gas is presented as the most economical heating choice in Ontario, significantly cheaper than electricity and oil.
  • 7Enbridge Gas Distribution highlighted customer assistance programs and energy efficiency tips.

Frequently Asked Questions

The filing includes a media advisory for a conference call on June 17, 2014, to discuss a federal government decision related to the Northern Gateway Pipelines project. This suggests a significant regulatory event that could impact Enbridge's future project development and investor outlook.

The Ontario Energy Board (OEB) approved a decrease in the Cost Adjustment charge for residential customers, effective July 1, 2014. This is due to spreading the costs from a cold winter over a longer period. As a result, typical residential customers are expected to see a decrease of approximately $12 per month on their bills compared to the interim rates.

No, Enbridge Gas Distribution is a regulated utility and explicitly states that it does not earn a profit on the price of natural gas. Customers pay Enbridge what Enbridge pays for the natural gas itself. The charges are related to the cost of delivery and other regulated adjustments.

Enbridge Gas Distribution is offering several options, including low-cost energy efficiency tips, a Budget Billing Plan to spread costs over 11 months, and information on assistance programs like the OEB's Low-income Energy Assistance Program (LEAP) and Enbridge's Home Winterproofing Program.