Company: ENBSF
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000895728-25-000006
Chunk: 206

Company: ENBRIDGE INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 206
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0 and attaining net-zero emissions by 2050. The ERP details the complementary policies and programs that Canada will enact to enable it to meet its domestic climate goal. Effective April 1, 2024, the federal carbon price was increased to $65 per tonne of carbon dioxide equivalent (tCO2e). This will increase by $15 per tonne each year and rise to $170 per tCO2e in 2030.

Two pending regulations in Canada that are expected to impact our operations include the amended federal methane regulations and the proposed volatile organic compounds (VOC) regulations. The amended methane regulations are part of Canada's broader effort to achieve at least a 75% reduction in methane emissions from the oil and gas sector by 2030, relative to 2012 levels. These regulations would impact Enbridge’s Gas Transmission assets to build upon the current regulations to further reduce methane emissions by limiting venting and increasing leak detection. The proposed VOC regulations, if adopted, would impact Enbridge’s Liquids Pipelines assets, specifically petroleum liquid storage tanks and loading operations, by requiring emission control equipment on in-scope storage tanks and loading racks. Both regulations are expected to be finalized in the first quarter of 2025; we continue to monitor these developments, including any potential impacts to our business.

Gas Distribution and Storage

Our Gas Distribution and Storage operations, facilities and workers are subject to municipal, provincial, state and federal legislation which regulates the protection of the environment and the health and safety of workers. Environmental legislation primarily includes regulation of spills and emissions to air, land and water; hazardous waste management; the assessment and management of excess soil and contaminated sites; protection of environmentally sensitive areas, and species at risk and their habitats; and the reporting and reduction of GHG emissions.

Gas distribution system operation, as with any industrial operation, has the potential risk of abnormal or emergency conditions, or other unplanned events that could result in releases or emissions exceeding permitted levels. These events could result in injuries to workers or the public, adverse impacts to the environment, property damage and/or regulatory infractions including orders and fines. We could also incur future liability for soil and groundwater contamination associated with past and present site activities.

In addition to gas distribution, we also operate gas storage facilities in Ontario and Ohio, and our Wexpro business develops and produces natural gas reserves. Environmental risk associated with these facilities has the potential for unplanned releases, which could require remediation of the affected area. There would also be potential for fines and orders under