SYS-CON MEDIA Authors: Trevor Parsons, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

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
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then we took the concept a step further, giving it a beautiful interface and making it simple enough for our bosses to understand. We named it GuardRail after its function - to allow businesses to move fast and stay sa...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting an...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
SYS-CON Events announced today that IDenticard 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. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver 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, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, 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. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.