Click here to close now.

SYS-CON MEDIA Authors: Pat Romanski, Carmen Gonzalez, Liz McMillan, Blue Box Blog, Lori MacVittie

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
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company...
Enterprise IoT is an exciting and chaotic space with a lot of potential to transform how the enterprise resources are managed. In his session at @ThingsExpo, Hari Srinivasan, Sr Product Manager at Cisco, will describe the challenges in enabling mass adoption of IoT, and share perspectives and insights on architectures/standards/protocols that are necessary to build a healthy ecosystem and lay the foundation to for a wide variety of exciting IoT use cases in the years to come.
SYS-CON Events announced today that CenturyLink, Inc., a leader in the network services market, has been named “Platinum Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. CenturyLink is the third largest telecommunications company in the United States and is recognized as a leader in the network services market by technology industry analyst firms. The company is a global leader in cloud infrastructure and ...
Docker is becoming very popular--we are seeing every major private and public cloud vendor racing to adopt it. It promises portability and interoperability, and is quickly becoming the currency of the Cloud. In his session at DevOps Summit, Bart Copeland, CEO of ActiveState, discussed why Docker is so important to the future of the cloud, but will also take a step back and show that Docker is actually only one piece of the puzzle. Copeland will outline the bigger picture of where Docker fits a...
SYS-CON Events announced today the DevOps Foundation Certification Course, being held June ?, 2015, in conjunction with DevOps Summit and 16th Cloud Expo at the Javits Center in New York City, NY. This sixteen (16) hour course provides an introduction to DevOps – the cultural and professional movement that stresses communication, collaboration, integration and automation in order to improve the flow of work between software developers and IT operations professionals. Improved workflows will res...
As cloud gives an opportunity to businesses to buy services externally – how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, provided answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He also discussed Intercloud and Cisco’s investment on it.
SYS-CON Events announced today that B2Cloud, a provider of enterprise resource planning software, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. B2cloud develops the software you need. They have the ideal tools to help you work with your clients. B2Cloud’s main solutions include AGIS – ERP, CLOHC, AGIS – Invoice, and IZUM
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch ...
A new definition of Big Data & the practical applications of the defined components & associated technical architecture models This presentation introduces a new definition of Big Data, along with the practical applications of the defined components and associated technical architecture models. In his session at Big Data Expo, Tony Shan will start with looking into the concept of Big Data and tracing back the first definition by Doug Laney, and then he will dive deep into the description of 3V...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and eas...
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immed...
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on T...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
There are 182 billion emails sent every day, generating a lot of data about how recipients and ISPs respond. Many marketers take a more-is-better approach to stats, preferring to have the ability to slice and dice their email lists based numerous arbitrary stats. However, fundamentally what really matters is whether or not sending an email to a particular recipient will generate value. Data Scientists can design high-level insights such as engagement prediction models and content clusters that a...