Click here to close now.

SYS-CON MEDIA Authors: Mike Kavis, Carmen Gonzalez, Elizabeth White, Pat Romanski, Liz McMillan

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
The WebRTC Summit 2014 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things...
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC is an up-and-coming standard that enables real-time voice and video to be directly embedded into browsers making the browser a primary user interface for communications and collaboration. WebRTC runs in a number of browsers today and is currently supported in over a billion installed browsers globally, across a range of platform OS and devices. Today, organizations that choose to deploy WebRTC applications and use a host machine that supports audio through USB or Bluetooth can use Plantro...
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
Chef announced that James Casey has been appointed Vice President of Engineering. Casey has more than a decade of experience managing engineering and operations for CERN and is a three-year Chef veteran. Casey brings deep expertise in DevOps practices, as well as an innate understanding of the needs of Chef customers and the community. Casey will oversee the quality and cadence of product development for Chef's engineering and operations teams, and will report to Chef CEO Barry Crist.
DevOps tasked with driving success in the cloud need a solution to efficiently leverage multiple clouds while avoiding cloud lock-in. Flexiant today announces the commercial availability of Flexiant Concerto. With Flexiant Concerto, DevOps have cloud freedom to automate the build, deployment and operations of applications consistently across multiple clouds. Concerto is available through four disruptive pricing models aimed to deliver multi-cloud at a price point everyone can afford.
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed...
Business as usual for IT is evolving into a “Make or Buy” decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud busi...
SYS-CON Events announced today that Alert Logic, the leading provider of Security-as-a-Service solutions for the cloud, has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® and DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo® and DevOps Summit 2015 Silicon Valley, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog 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. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Businesses are looking to empower employees and departments to do more, go faster, and streamline their processes. For all workers – but mobile workers especially – utilizing the cloud to reconnect documents and improve processes without destructing existing workflows can have a dramatic impact on productivity. In his session at 16th Cloud Expo, Mark Grilli, vice president of Acrobat Solutions marketing at Adobe Systems Incorporated, will outline new ways that the cloud is changing the way peo...