Welcome!

News Feed Item

Enbridge CEO Sees Opportunities in Changing Energy Landscape

Company announces election of directors today at annual shareholder meeting

CALGARY, ALBERTA -- (Marketwired) -- 05/07/14 -- Editor's note: There is one image associated with this press release.

Enbridge Inc. (TSX: ENB) (NYSE: ENB) is well positioned to respond to an evolving energy landscape, President and Chief Executive Officer Al Monaco told shareholders during Enbridge's annual general meeting today in Calgary.

Growing global demand for energy and increased North American supply have stretched existing energy infrastructure and are driving the need for new pipeline capacity to coastal markets, Mr. Monaco said. "North America needs new infrastructure, which in turn provides us with a great opportunity to grow. Enbridge has great assets, strategically located, that enable us to capture new opportunities created by changing supply and demand, and that's best illustrated by our record $41 billion capital growth program."

2013 was another solid year for Enbridge with adjusted earnings for 2013 of $1.4 billion, an increase of 16 per cent over the prior year. Earnings per share (EPS) was $1.78 or 11 per cent above 2012; over the past five years, the Company's average annual EPS growth rate has been 14 per cent. Based on strong earnings growth and confidence in the Company's long-term outlook, Enbridge increased its dividend by 11 per cent in March 2014 - the nineteenth consecutive annual increase.

Over the last decade, Enbridge has delivered an average annual total return to shareholders of 17 per cent, "well above the broader market and peer group," said Mr. Monaco.

Enbridge secured $6 billion in new growth investment in 2013, increasing the Company's secured growth capital to $36 billion and placing it in a position to deliver industry-leading growth through 2017 and beyond.

"In Liquids Pipelines, with our three market access programs - totaling more than $15 billion -- we're opening up 1.7 million barrels per day of new markets in North America," said Mr. Monaco. "Wherever possible, we're using existing rights-of-way or pipe that's already in the ground to minimize our environmental footprint."

Enbridge's other core businesses - natural gas pipelines and processing, gas distribution and power generation - also continue to grow at a measured pace. In Gas Pipelines and Processing, Enbridge successfully completed several projects, including the Texas Express system and the Ajax plant in Texas, and continues to build on its strong position in the offshore Gulf of Mexico.

Enbridge Gas Distribution sanctioned a major investment in its Greater Toronto Area system that will provide benefits to customers, enhancing reliability and access to lower-cost natural gas.

Renewable power generation continues to be a key area of growth, said Mr. Monaco, with recent investments in wind projects in Quebec and Alberta bringing the Company's renewable energy portfolio to nearly $4 billion and generating capacity of 1,800 megawatts - or enough power to supply 600,000 homes. Enbridge also brought its first power transmission project into service in 2013.

Mr. Monaco concluded his remarks by reiterating Enbridge's commitment to building trust, key to meeting changing public expectations of energy companies.

"Listening to a range of perspectives, finding common ground and striking a balance among competing interests is something I believe is a critical part of our job and a key to success," said Mr. Monaco. "Ten years from now, we'll look back at this period and acknowledge how the intense focus we're under today pushed our industry to get better."

Election of Directors

Enbridge also announced that the nominees listed in the management information circular dated March 4, 2014 were elected as directors of Enbridge Inc. The detailed results of the vote for the election of directors held at its Annual Meeting of shareholders earlier today in Calgary are set out below.

On a vote by ballot, each of the following 12 nominees proposed by management was elected as a director of the Company:


----------------------------------------------------------------------------
Nominee                  Votes For     % For      Votes Withheld  % Withheld
----------------------------------------------------------------------------
David A. Arledge       524,303,273     99.76           1,256,383        0.24
----------------------------------------------------------------------------
James J. Blanchard     524,200,940     99.74           1,358,716        0.26
----------------------------------------------------------------------------
J. Lorne Braithwaite   508,153,283     96.69          17,406,373        3.31
----------------------------------------------------------------------------
J. Herb England        513,121,004     97.63          12,438,652        2.37
----------------------------------------------------------------------------
Charles W. Fischer     515,959,252     98.17           9,600,404        1.83
----------------------------------------------------------------------------
V. Maureen Kempston
 Darkes                515,699,207     98.12           9,860,449        1.88
----------------------------------------------------------------------------
David A. Leslie        524,465,635     99.79           1,094,021        0.21
----------------------------------------------------------------------------
Al Monaco              524,557,522     99.81           1,002,134        0.19
----------------------------------------------------------------------------
George K. Petty        523,262,075     99.56           2,297,581        0.44
----------------------------------------------------------------------------
Charles E. Shultz      514,991,424     97.99          10,568,232        2.01
----------------------------------------------------------------------------
Dan C. Tutcher         524,062,324     99.72           1,497,332        0.28
----------------------------------------------------------------------------
Catherine L. Williams  516,108,270     98.20           9,451,386        1.80
----------------------------------------------------------------------------

About Enbridge Inc.

Enbridge Inc., a Canadian Company, is a North American leader in delivering energy and has been included on the Global 100 Most Sustainable Corporations in the World ranking for the past six years. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a significant and growing involvement in natural gas gathering, transmission and midstream businesses, and an increasing involvement in power transmission. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. As a generator of energy, Enbridge has interests in more than 1,800 megawatts of renewable and alternative energy generating capacity and is expanding its interests in wind and solar energy and geothermal. Enbridge employs more than 10,000 people, primarily in Canada and the U.S. and is ranked as one of Canada's Top 100 Employers for 2013. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.

Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Enbridge believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings and American SEC filings. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Except as may be required by applicable securities laws, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

To view the image associated with this press release, please visit the following link: http://www.marketwire.com/library/20140507-944289_bg.jpg

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.