Enbridge (ENB) 10-Q 5 May 23 2023 Q1 Quarterly report Financial data

COVER

COVER - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-15254
Entity Registrant Name	ENBRIDGE INC.
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-0377957
Entity Address, Address Line One	200, 425 - 1st Street S.W.
Entity Address, City or Town	Calgary
Entity Address, State or Province	AB
Entity Address, Country	CA
Entity Address, Postal Zip Code	T2P 3L8
City Area Code	403
Local Phone Number	231-3900
Title of 12(b) Security	Common Shares
Trading Symbol	ENB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,024,676,423
Entity Central Index Key	0000895728
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating revenues
Total operating revenues	$ 12,075	$ 15,097
Operating expenses
Operating and administrative	2,037	1,875
Depreciation and amortization	1,146	1,055
Total operating expenses	9,413	12,677
Operating income	2,662	2,420
Income from equity investments	517	491
Other income	102	458
Interest expense	(905)	(719)
Earnings before income taxes	2,376	2,650
Income tax expense	(510)	(593)
Earnings	1,866	2,057
Earnings attributable to noncontrolling interests	(49)	(28)
Earnings attributable to controlling interests	1,817	2,029
Preference share dividends	(84)	(102)
Earnings attributable to common shareholders	$ 1,733	$ 1,927
Earnings per common share attributable to common shareholders (in Canadian dollars per share)	$ 0.86	$ 0.95
Diluted earnings per common share attributable to common shareholders (in Canadian dollars per share)	$ 0.85	$ 0.95
Commodity sales
Operating revenues
Total operating revenues	$ 4,783	$ 8,325
Operating expenses
Commodity costs and Gas distribution costs	4,636	8,291
Gas distribution sales
Operating revenues
Total operating revenues	2,279	2,098
Operating expenses
Commodity costs and Gas distribution costs	1,594	1,456
Transportation and other services
Operating revenues
Total operating revenues	$ 5,013	$ 4,674

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Earnings	$ 1,866	$ 2,057
Other comprehensive income/(loss), net of tax
Change in unrealized gain/(loss) on cash flow hedges	(45)	294
Change in unrealized gain on net investment hedges	15	133
Excluded components of fair value hedges	7	(1)
Reclassification to earnings of loss on cash flow hedges	7	57
Reclassification to earnings of pension and other postretirement benefits (OPEB) amounts	(4)	(2)
Foreign currency translation adjustments	(59)	(708)
Other comprehensive loss, net of tax	(79)	(227)
Comprehensive income	1,787	1,830
Comprehensive income attributable to noncontrolling interests	(64)	(13)
Comprehensive income attributable to controlling interests	1,723	1,817
Preference share dividends	(84)	(102)
Comprehensive income attributable to common shareholders	$ 1,639	$ 1,715

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CAD ($) $ in Millions	Total	Preference shares	Common shares	Additional paid-in capital	Deficit	Accumulated other comprehensive income (loss)	Total Enbridge Inc. shareholders’ equity	Noncontrolling interests
Balance at the beginning of the period at Dec. 31, 2021		$ 7,747	$ 64,799	$ 365	$ (10,989)	$ (1,096)		$ 2,542
Increase (Decrease) in Stockholders' Equity
Redemption of preference shares		(737)
Options exercised			36	(34)
Shares issued on vesting of restricted stock units (RSU)			0
Share purchases at stated value			(30)
Other			(4)	(28)
Stock-based compensation				13
Earnings attributable to controlling interests	$ 2,029				2,029
Preference share dividends					(102)
Share purchases in excess of stated value					(20)
Other								35
Other comprehensive loss attributable to common shareholders, net of tax						(212)
Earnings attributable to noncontrolling interests								28
Change in unrealized gain on cash flow hedges								2
Foreign currency translation adjustments								(17)
Other comprehensive income/(loss) attributable to noncontrolling interests, net of tax								(15)
Comprehensive income attributable to noncontrolling interests	(13)							13
Distributions								(60)
Contributions								6
Balance at the end of the period at Mar. 31, 2022	$ 64,273	7,010	64,801	316	(9,082)	(1,308)	$ 61,737	2,536
Increase (Decrease) in Stockholders' Equity
Common stock, dividends per share, paid (in dollars per share)	$ 0.860
Balance at the beginning of the period at Dec. 31, 2022	$ 63,398	6,818	64,760	275	(15,486)	3,520		3,511
Increase (Decrease) in Stockholders' Equity
Redemption of preference shares		0
Options exercised			2	(1)
Shares issued on vesting of restricted stock units (RSU)			12
Share purchases at stated value			0
Other			0	0
Stock-based compensation				0
Earnings attributable to controlling interests	1,817				1,817
Preference share dividends					(84)
Share purchases in excess of stated value					0
Other								(1)
Other comprehensive loss attributable to common shareholders, net of tax						(94)
Earnings attributable to noncontrolling interests								49
Change in unrealized gain on cash flow hedges								17
Foreign currency translation adjustments								(2)
Other comprehensive income/(loss) attributable to noncontrolling interests, net of tax								15
Comprehensive income attributable to noncontrolling interests	(64)							64
Distributions								(92)
Contributions								4
Balance at the end of the period at Mar. 31, 2023	$ 65,025	$ 6,818	$ 64,774	$ 274	$ (13,753)	$ 3,426	$ 61,539	$ 3,486
Increase (Decrease) in Stockholders' Equity
Common stock, dividends per share, paid (in dollars per share)	$ 0.888

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities
Earnings	$ 1,866	$ 2,057
Adjustments to reconcile earnings to net cash provided by operating activities:
Depreciation and amortization	1,146	1,055
Deferred income tax expense	484	423
Unrealized derivative fair value loss, net	(520)	(369)
Income from equity investments	(517)	(491)
Distributions from equity investments	453	394
Other	40	47
Changes in operating assets and liabilities	914	(177)
Net cash provided by operating activities	3,866	2,939
Investing activities
Capital expenditures	(1,129)	(1,048)
Long-term investments and restricted long-term investments	(413)	(314)
Distributions from equity investments in excess of cumulative earnings	100	97
Additions to intangible assets	(66)	(53)
Affiliate loans, net	71	0
Net cash used in investing activities	(1,437)	(1,318)
Financing activities
Net change in short-term borrowings	(559)	89
Net change in commercial paper and credit facility draws	(2,921)	(283)
Debenture and term note issues, net of issue costs	4,111	2,643
Debenture and term note repayments	(968)	(1,155)
Contributions from noncontrolling interests	4	6
Distributions to noncontrolling interests	(92)	(60)
Common shares issued	0	2
Common shares repurchased	0	(50)
Preference share dividends	(84)	(91)
Common share dividends	(1,798)	(1,742)
Redemption of preference shares	0	(750)
Affiliate loans, net	51	0
Other	(33)	(92)
Net cash used in financing activities	(2,289)	(1,483)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash	4	(4)
Net change in cash and cash equivalents and restricted cash	144	134
Cash and cash equivalents and restricted cash at beginning of period	907	320
Cash and cash equivalents and restricted cash at end of period	$ 1,051	$ 454

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CAD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 976	$ 861
Restricted cash	75	46
Trade receivables and unbilled revenues	4,755	5,616
Other current assets	2,701	3,255
Accounts receivable from affiliates	100	114
Inventory	1,311	2,255
Current assets	9,918	12,147
Property, plant and equipment, net	104,251	104,460
Long-term investments	16,320	15,936
Restricted long-term investments	646	593
Deferred amounts and other assets	9,148	9,542
Intangible assets, net	3,913	4,018
Goodwill	32,411	32,440
Deferred income taxes	463	472
Total assets	177,070	179,608
Current liabilities
Short-term borrowings	1,437	1,996
Trade payables and accrued liabilities	4,098	6,172
Other current liabilities	3,051	5,220
Accounts payable to affiliates	47	105
Interest payable	709	763
Current portion of long-term debt	7,436	6,045
Current liabilities	16,778	20,301
Long-term debt	71,740	72,939
Other long-term liabilities	9,235	9,189
Deferred income taxes	14,292	13,781
Total liabilities	112,045	116,210
Contingencies
Share capital
Preference shares	6,818	6,818
Common shares (2,025 outstanding at March 31, 2023 and December 31, 2022)	64,774	64,760
Additional paid-in capital	274	275
Deficit	(13,753)	(15,486)
Accumulated other comprehensive income	3,426	3,520
Total Enbridge Inc. shareholders’ equity	61,539	59,887
Noncontrolling interests	3,486	3,511
Equity	65,025	63,398
Total liabilities and equity	$ 177,070	$ 179,608

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - shares shares in Millions	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common shares, outstanding (in shares)	2,025	2,025

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited interim consolidated financial statements of Enbridge Inc. ("we", "our", "us" and "Enbridge") have been prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP) and Regulation S-X for interim consolidated financial information. They do not include all of the information and notes required by US GAAP for annual consolidated financial statements and should therefore be read in conjunction with our audited consolidated financial statements and notes for the year ended December 31, 2022. In the opinion of management, the interim consolidated financial statements contain all normal recurring adjustments necessary to present fairly our financial position, results of operations and cash flows for the interim periods reported. These interim consolidated financial statements follow the same significant accounting policies as those included in our audited consolidated financial statements for the year ended December 31, 2022. Amounts are stated in Canadian dollars unless otherwise noted. Our operations and earnings for interim periods can be affected by seasonal fluctuations within the gas distribution utility businesses, as well as other factors such as supply of and demand for crude oil and natural gas, and may not be indicative of annual results. Certain comparative figures in our interim consolidated financial statements have been reclassified to conform to the current year's presentation.

REVENUES

REVENUES	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES REVENUE FROM CONTRACTS WITH CUSTOMERS Major Products and Services Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Transportation revenue 2,942 1,384 276 — — — 4,602 Storage and other revenue 64 95 99 — — — 258 Gas distribution revenue — — 2,287 — — — 2,287 Electricity revenue — — — 66 — — 66 Total revenue from contracts with customers 3,006 1,479 2,662 66 — — 7,213 Commodity sales — — — — 4,783 — 4,783 Other revenue 1,2 30 11 (40) 78 — — 79 Intersegment revenue 129 1 3 — 18 (151) — Total revenue 3,165 1,491 2,625 144 4,801 (151) 12,075 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Transportation revenue 2,685 1,194 251 — — — 4,130 Storage and other revenue 51 84 47 — — — 182 Gas gathering and processing revenue — 15 — — — — 15 Gas distribution revenue — — 2,098 — — — 2,098 Electricity revenue — — — 62 — — 62 Total revenue from contracts with customers 2,736 1,293 2,396 62 — — 6,487 Commodity sales — — — — 8,325 — 8,325 Other revenue 1,2 178 7 4 94 2 — 285 Intersegment revenue 141 — 11 — 10 (162) — Total revenue 3,055 1,300 2,411 156 8,337 (162) 15,097 1 Includes realized and unrealized gains and losses from our hedging program which for the three months ended March 31, 2023 were a net $55 million loss (2022 - $94 million gain). 2 Includes revenues from lease contracts for the three months ended March 31, 2023 and 2022 of $144 million and $164 million, respectively. We disaggregate revenue into categories which represent our principal performance obligations within each business segment. These revenue categories represent the most significant revenue streams in each segment and consequently are considered to be the most relevant revenue information for management to consider in evaluating performance. Contract Balances Contract Receivables Contract Assets Contract Liabilities (millions of Canadian dollars) Balance as at March 31, 2023 3,186 232 2,328 Balance as at December 31, 2022 3,183 230 2,241 Contract receivables represent the amount of receivables derived from contracts with customers. Contract assets represent the amount of revenue which has been recognized in advance of payments received for performance obligations we have fulfilled (or have partially fulfilled) and prior to the point in time at which our right to the payment is unconditional. Amounts included in contract assets are transferred to accounts receivable when our right to the consideration becomes unconditional. Contract liabilities represent payments received for performance obligations which have not been fulfilled. Contract liabilities primarily relate to make-up rights and deferred revenue. Revenue recognized during the three months ended March 31, 2023 included in contract liabilities at the beginning of the period was $36 million. Increases in contract liabilities from cash received, net of amounts recognized as revenue during the three months ended March 31, 2023 were $124 million. Performance Obligations There was no material revenue recognized in the three months ended March 31, 2023 from performance obligations satisfied in previous periods. Revenue to be Recognized from Unfulfilled Performance Obligations Total revenue from performance obligations expected to be fulfilled in future periods is $60.0 billion, of which $6.0 billion and $6.7 billion are expected to be recognized during the remaining nine months ending December 31, 2023 and the year ending December 31, 2024, respectively. The revenues excluded from the amounts above, based on optional exemptions available under Accounting Standards Codification (ASC) 606, as explained below, represent a significant portion of our overall revenues and revenues from contracts with customers. Certain revenues such as flow-through operating costs charged to shippers are recognized at the amount for which we have the right to invoice our customers and are excluded from the amounts for revenue to be recognized in the future from unfulfilled performance obligations above. Variable consideration is excluded from the amounts above due to the uncertainty of the associated consideration, which is generally resolved when actual volumes and prices are determined. For example, we consider interruptible transportation service revenues to be variable revenues since volumes cannot be estimated. Additionally, the effect of escalation on certain tolls which are contractually escalated for inflation has not been reflected in the amounts above as it is not possible to reliably estimate future inflation rates. Revenues for periods extending beyond the current rate settlement term for regulated contracts where the tolls are periodically reset by the regulator are excluded from the amounts above since future tolls remain unknown. Finally, revenues from contracts with customers which have an original expected duration of one year or less are excluded from the amounts above. Variable Consideration During the three months ended March 31, 2023, revenue for the Canadian Mainline has been recognized in accordance with the terms of the Competitive Tolling Settlement, which expired on June 30, 2021. The tolls in place on June 30, 2021 continue on an interim basis until a new commercial arrangement is implemented and are subject to finalization and adjustment applicable to the interim period, if any. Due to the uncertainty of adjustment to tolling pursuant to a Canada Energy Regulator (CER) decision, interim toll revenue recognized during the three months ended March 31, 2023 is considered variable consideration. Recognition and Measurement of Revenues Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Consolidated Three months ended March 31, 2023 (millions of Canadian dollars) Revenue from products transferred at a point in time — — 30 — 30 Revenue from products and services transferred over time 1 3,006 1,479 2,632 66 7,183 Total revenue from contracts with customers 3,006 1,479 2,662 66 7,213 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Consolidated Three months ended March 31, 2022 (millions of Canadian dollars) Revenue from products transferred at a point in time — — 16 — 16 Revenue from products and services transferred over time 1 2,736 1,293 2,380 62 6,471 Total revenue from contracts with customers 2,736 1,293 2,396 62 6,487 1 Revenue from crude oil and natural gas pipeline transportation, storage, natural gas gathering, compression and treating, natural gas distribution, natural gas storage services and electricity sales.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
SEGMENTED INFORMATION	SEGMENTED INFORMATION Three months ended Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated (millions of Canadian dollars) Operating revenues 3,165 1,491 2,625 144 4,801 (151) 12,075 Commodity and gas distribution costs — — (1,612) (4) (4,782) 168 (6,230) Operating and administrative (1,123) (549) (309) (53) (18) 15 (2,037) Income/(loss) from equity investments 248 238 — 35 — (4) 517 Other income/(expense) 73 25 12 14 — (22) 102 Earnings before interest, income taxes and depreciation and amortization 2,363 1,205 716 136 1 6 4,427 Depreciation and amortization (1,146) Interest expense (905) Income tax expense (510) Earnings 1,866 Capital expenditures 1 280 527 264 45 — 25 1,141 Three months ended Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated (millions of Canadian dollars) Operating revenues 3,055 1,300 2,411 156 8,337 (162) 15,097 Commodity and gas distribution costs (11) — (1,468) (4) (8,427) 163 (9,747) Operating and administrative (947) (530) (299) (48) (14) (37) (1,875) Income from equity investments 215 221 — 55 — — 491 Other income 17 23 21 3 3 391 458 Earnings/(loss) before interest, income taxes and depreciation and amortization 2,329 1,014 665 162 (101) 355 4,424 Depreciation and amortization (1,055) Interest expense (719) Income tax expense (593) Earnings 2,057 Capital expenditures 1 545 229 266 6 — 12 1,058 1 Includes allowance for equity funds used during construction.

EARNINGS PER COMMON SHARE AND D

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE	EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE BASIC Earnings per common share is calculated by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding. DILUTED The treasury stock method is used to determine the dilutive impact of stock options and RSUs. This method assumes any proceeds from the exercise of stock options and vesting of RSUs would be used to purchase common shares at the average market price during the period. Weighted average shares outstanding used to calculate basic and diluted earnings per share are as follows: Three months ended 2023 2022 (number of shares in millions) Weighted average shares outstanding 2,025 2,026 Effect of dilutive options and RSUs 3 3 Diluted weighted average shares outstanding 2,028 2,029 For the three months ended March 31, 2023 and 2022, 16.7 million and 12.9 million, respectively, of anti-dilutive stock options with a weighted average exercise price of $55.62 and $56.09, respectively, were excluded from the diluted earnings per common share calculation. DIVIDENDS PER SHARE On May 2, 2023, our Board of Directors declared the following quarterly dividends. All dividends are payable on June 1, 2023 to shareholders of record on May 15, 2023. Dividend per share Common Shares 1 $0.88750 Preference Shares, Series A $0.34375 Preference Shares, Series B $0.32513 Preference Shares, Series D 2 $0.33825 Preference Shares, Series F $0.29306 Preference Shares, Series H $0.27350 Preference Shares, Series L US$0.36612 Preference Shares, Series N $0.31788 Preference Shares, Series P $0.27369 Preference Shares, Series R $0.25456 Preference Shares, Series 1 US$0.37182 Preference Shares, Series 3 $0.23356 Preference Shares, Series 5 US$0.33596 Preference Shares, Series 7 $0.27806 Preference Shares, Series 9 $0.25606 Preference Shares, Series 11 $0.24613 Preference Shares, Series 13 $0.19019 Preference Shares, Series 15 $0.18644 Preference Shares, Series 19 3 $0.38825 1 The quarterly dividend per common share was increased 3.2% to $0.8875 from $0.86, effective March 1, 2023. 2 The quarterly dividend per share paid on Preference Shares, Series D was increased to $0.33825 from $0.27875 on March 1, 2023 due to reset of the annual dividend on March 1, 2023. 3 The quarterly dividend per share paid on Preference Shares, Series 19 was increased to $0.38825 from $0.30625 on March 1, 2023 due to reset of the annual dividend on March 1, 2023.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
DEBT	DEBT CREDIT FACILITIES The following table provides details of our committed credit facilities as at March 31, 2023: Maturity 1 Total Draws 2 Available (millions of Canadian dollars) Enbridge Inc. 2023-2027 9,623 7,053 2,570 Enbridge (U.S.) Inc. 2024-2027 8,594 1,702 6,892 Enbridge Pipelines Inc. 2024 2,000 876 1,124 Enbridge Gas Inc. 2024 2,500 1,440 1,060 Total committed credit facilities 22,717 11,071 11,646 1 Maturity date is inclusive of the one-year term out option for certain credit facilities. 2 Includes facility draws and commercial paper issuances that are back-stopped by credit facilities. In March 2023, Enbridge Gas Inc. (Enbridge Gas) increased its 364-day extendible credit facility from $2.0 billion to $2.5 billion. In addition to the committed credit facilities noted above, we maintain $1.3 billion of uncommitted demand letter of credit facilities, of which $720 million was unutilized as at March 31, 2023. As at December 31, 2022, we had $1.3 billion of uncommitted demand letter of credit facilities, of which $689 million was unutilized. Our credit facilities carry a weighted average standby fee of 0.1% per annum on the unused portion and draws bear interest at market rates. Certain credit facilities serve as a back-stop to the commercial paper programs and we have the option to extend such facilities, which are currently scheduled to mature from 2023 to 2027. As at March 31, 2023 and December 31, 2022, commercial paper and credit facility draws, net of short-term borrowings and non-revolving credit facilities that mature within one year, of $9.0 billion and $10.5 billion, respectively, were supported by the availability of long-term committed credit facilities and, therefore, have been classified as long-term debt. LONG-TERM DEBT ISSUANCES During the three months ended March 31, 2023, we completed the following long-term debt issuances totaling US$3.0 billion: Company Issue Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. March 2023 5.70% sustainability-linked senior notes due March 2033 1 US$2,300 March 2023 5.97% senior notes due March 2026 2 US$700 1 The sustainability-linked senior notes are subject to a sustainability performance target of 35% reduction in emissions intensity from 2018 levels at an observation date of December 31, 2030. If the target is not met, on September 8, 2031, the interest rate will be set to equal 5.70% plus a margin of 50 basis points. 2 We have the option to call the notes at par after one year from issuance. Refer to Note 7 - Risk Management and Financial Instruments . LONG-TERM DEBT REPAYMENTS During the three months ended March 31, 2023, we completed the following long-term debt repayments totaling US$513 million and $275 million: Company Repayment Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. January 2023 3.94% medium-term notes $275 February 2023 Floating rate notes 1 US$500 Tri Global Energy, LLC January 2023 10.00 % senior notes US$4 January 2023 14.00 % senior notes US$9 1 The notes carried an interest rate set to equal the Secured Overnight Financing Rate plus a margin of 40 basis points. On April 15, 2023 call date, we redeemed at par all of the outstanding US$600 million five-year callable, 6.38% fixed-to-floating rate subordinated notes that carried an original maturity date of April 2078. SUBORDINATED TERM NOTES As at March 31, 2023 and December 31, 2022, our fixed-to-floating rate and fixed-to-fixed rate subordinated term notes had a principal value of $10.3 billion. FAIR VALUE ADJUSTMENT As at March 31, 2023 and December 31, 2022, the net fair value adjustments to total debt assumed in a historical acquisition were $588 million and $608 million, respectively. During the three months ended March 31, 2023 and 2022, amortization of the fair value adjustment recorded as a reduction to Interest expense in the Consolidated Statements of Earnings was $11 million. DEBT COVENANTS Our credit facility agreements and term debt indentures include standard events of default and covenant provisions whereby accelerated repayment and/or termination of the agreements may result if we are to default on payment or violate certain covenants. As at March 31, 2023, we were in compliance with all covenant provisions.

COMPONENTS OF ACCUMULATED OTHER

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	3 Months Ended
	Mar. 31, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) Changes in Accumulated other comprehensive income/(loss) (AOCI) attributable to our common shareholders for the three months ended March 31, 2023 and 2022 are as follows: Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2023 121 (35) (1,137) 4,348 5 218 3,520 Other comprehensive income/(loss) retained in AOCI (90) 7 15 (57) — — (125) Other comprehensive loss/(income) reclassified to earnings Interest rate contracts 1 8 — — — — — 8 Other contracts 2 1 — — — — — 1 Amortization of pension and OPEB actuarial gain 3 — — — — — (5) (5) (81) 7 15 (57) — (5) (121) Tax impact Income tax on amounts retained in AOCI 28 — — — — — 28 Income tax on amounts reclassified to earnings (2) — — — — 1 (1) 26 — — — — 1 27 Balance as at March 31, 2023 66 (28) (1,122) 4,291 5 214 3,426 Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2022 (897) — (166) 56 (5) (84) (1,096) Other comprehensive income/(loss) retained in AOCI 384 (1) 133 (691) — — (175) Other comprehensive loss/(income) reclassified to earnings Interest rate contracts 1 76 — — — — — 76 Foreign exchange contracts 4 (4) — — — — — (4) Other contracts 2 2 — — — — — 2 Amortization of pension and OPEB actuarial gain 3 — — — — — (3) (3) 458 (1) 133 (691) — (3) (104) Tax impact Income tax on amounts retained in AOCI (92) — — — — — (92) Income tax on amounts reclassified to earnings (17) — — — — 1 (16) (109) — — — — 1 (108) Balance as at March 31, 2022 (548) (1) (33) (635) (5) (86) (1,308) 1 Reported within Interest expense in the Consolidated Statements of Earnings. 2 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. 3 These components are included in the computation of net periodic benefit credit and are reported within Other income in the Consolidated Statements of Earnings. 4 Reported within Transportation and other services revenues and Other income in the Consolidated Statements of Earnings.

RISK MANAGEMENT AND FINANCIAL I

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	RISK MANAGEMENT AND FINANCIAL INSTRUMENTS MARKET RISK Our earnings, cash flows and other comprehensive income/(loss) (OCI) are subject to movements in foreign exchange rates, interest rates, commodity prices and our share price (collectively, market risks). Formal risk management policies, processes and systems have been designed to mitigate these risks. The following summarizes the types of market risks to which we are exposed and the risk management instruments used to mitigate them. We use a combination of qualifying and non-qualifying derivative instruments to manage the risks noted below. Foreign Exchange Risk We generate certain revenues, incur expenses and hold a number of investments and subsidiaries that are denominated in currencies other than Canadian dollars. As a result, our earnings, cash flows and OCI are exposed to fluctuations resulting from foreign exchange rate variability. We employ financial derivative instruments to hedge foreign currency denominated earnings exposure. A combination of qualifying cash flow, fair value and non-qualifying derivative instruments is used to hedge anticipated foreign currency denominated revenues and expenses and to manage variability in cash flows. We hedge certain net investments in United States (US) dollar-denominated investments and subsidiaries using foreign currency derivatives and US dollar-denominated debt. The foreign exchange risks inherent within the Competitive Toll Settlement framework are not expected to be present in the negotiated settlement. Accordingly, our foreign exchange hedging program related to the Canadian Mainline will no longer be required, and the related derivatives were terminated in the first quarter of 2023 for a realized loss of $638 million. Interest Rate Risk Our earnings and cash flows are exposed to short-term interest rate variability due to the regular repricing of our variable rate debt, primarily commercial paper. We monitor our debt portfolio mix of fixed and variable rate debt instruments to manage a consolidated portfolio of floating rate debt within the Board of Directors' approved policy limit of a maximum of 30% of floating rate debt as a percentage of total debt outstanding. We primarily use qualifying derivative instruments to manage interest rate risk. Pay fixed-receive floating interest rate swaps may be used to hedge against the effect of future interest rate movements. We have implemented a hedging program to partially mitigate the impact of short-term interest rate volatility on interest expense via the execution of floating-to-fixed interest rate swaps. These hedges have an average fixed rate of 4.1%. On March 8, 2023, we issued US$700 million three-year fixed rate notes which includes the right for us to call at par after the first year. A corresponding fix-to-floating cancellable swap was also executed which gives the swap counterparty a similar right to cancel the swap after the first year. This swap has a fixed rate of 6.0%. This instrument is our only pay floating-receive fixed interest rate swap outstanding as at March 31, 2023. Our earnings and cash flows are also exposed to variability in longer term interest rates ahead of anticipated fixed rate term debt issuances. Forward starting interest rate swaps are used to hedge against the effect of future interest rate movements. We have established a program including some of our subsidiaries to partially mitigate our exposure to long-term interest rate variability on forecas ted term debt issuances via the execution of floating-to-fixed interest rate swaps with an average swap rate of 2.5% . Commodity Price Risk Our earnings and cash flows are exposed to changes in commodity prices as a result of our ownership interests in certain assets and investments, as well as through the activities of our energy services subsidiaries. These commodities include natural gas, crude oil, power and natural gas liquids (NGL). We employ financial and physical derivative instruments to fix a portion of the variable price exposures that arise from physical transactions involving these commodities. We use primarily non-qualifying derivative instruments to manage commodity price risk. Equity Price Risk Equity price risk is the risk of earnings fluctuations due to changes in our share price. We have exposure to our own common share price through the issuance of various forms of stock-based compensation, which affect earnings through the revaluation of outstanding units every period. We use equity derivatives to manage the earnings volatility derived from one form of stock-based compensation, RSUs. We use a combination of qualifying and non-qualifying derivative instruments to manage equity price risk. TOTAL DERIVATIVE INSTRUMENTS We generally have a policy of entering into individual International Swaps and Derivatives Association, Inc. (ISDA) agreements, or other similar derivative agreements, with the majority of our financial derivative counterparties. These agreements provide for the net settlement of derivative instruments outstanding with specific counterparties in the event of bankruptcy or other significant credit events and reduce our credit risk exposure on financial derivative asset positions outstanding with the counterparties in those circumstances. The following table summarizes the Consolidated Statements of Financial Position location and carrying value of our derivative instruments, as well as the maximum potential settlement amounts, in the event of the specific circumstances described above. All amounts are presented gross in the Consolidated Statements of Financial Position. March 31, 2023 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 68 54 122 (13) 109 Interest rate contracts 194 — 21 215 (11) 204 Commodity contracts — — 193 193 (118) 75 Other contracts — — 2 2 — 2 194 68 270 532 (142) 390 Deferred amounts and other assets Foreign exchange contracts — 83 131 214 (108) 106 Interest rate contracts 154 — 44 198 (43) 155 Commodity contracts — — 67 67 (30) 37 154 83 242 479 (181) 298 Other current liabilities Foreign exchange contracts — (42) (89) (131) 13 (118) Interest rate contracts (19) — (1) (20) 11 (9) Commodity contracts (30) — (218) (248) 118 (130) (49) (42) (308) (399) 142 (257) Other long-term liabilities Foreign exchange contracts — — (980) (980) 108 (872) Interest rate contracts (4) — (45) (49) 43 (6) Commodity contracts (21) — (123) (144) 30 (114) (25) — (1,148) (1,173) 181 (992) Total net derivative asset/(liability) Foreign exchange contracts — 109 (884) (775) — (775) Interest rate contracts 325 — 19 344 — 344 Commodity contracts (51) — (81) (132) — (132) Other contracts — — 2 2 — 2 274 109 (944) (561) — (561) December 31, 2022 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — — 46 46 (41) 5 Interest rate contracts 649 — 11 660 — 660 Commodity contracts — — 302 302 (182) 120 Other contracts — — 7 7 — 7 649 — 366 1,015 (223) 792 Deferred amounts and other assets Foreign exchange contracts — 156 153 309 (138) 171 Interest rate contracts 254 — — 254 — 254 Commodity contracts — — 61 61 (25) 36 Other contracts 1 — 2 3 — 3 255 156 216 627 (163) 464 Other current liabilities Foreign exchange contracts — (42) (524) (566) 41 (525) Commodity contracts (48) — (284) (332) 182 (150) (48) (42) (808) (898) 223 (675) Other long-term liabilities Foreign exchange contracts — — (1,116) (1,116) 138 (978) Interest rate contracts (3) — (1) (4) — (4) Commodity contracts (37) — (133) (170) 25 (145) (40) — (1,250) (1,290) 163 (1,127) Total net derivative asset/(liability) Foreign exchange contracts — 114 (1,441) (1,327) — (1,327) Interest rate contracts 900 — 10 910 — 910 Commodity contracts (85) — (54) (139) — (139) Other contracts 1 — 9 10 — 10 816 114 (1,476) (546) — (546) The following table summarizes the maturity and notional principal or quantity outstanding related to our derivative instruments: March 31, 2023 2023 2024 2025 2026 2027 Thereafter Total Foreign exchange contracts - US dollar forwards - purchase (millions of US dollars) 832 1,000 500 — — — 2,332 Foreign exchange contracts - US dollar forwards - sell (millions of US dollars) 4,566 4,708 4,763 4,157 2,969 1,728 22,891 Foreign exchange contracts - British pound (GBP) forwards - sell (millions of GBP) 21 30 30 28 32 — 141 Foreign exchange contracts - Euro forwards - sell (millions of Euro) 69 91 86 85 81 262 674 Foreign exchange contracts - Japanese yen forwards - purchase (millions of yen) — — 84,800 — — — 84,800 Interest rate contracts - short-term debt pay fixed rate (millions of Canadian dollars) 7,821 1,929 80 26 25 39 9,920 Interest rate contracts - short-term debt receive fixed rate (millions of Canadian dollars) 711 947 947 179 — — 2,784 Interest rate contracts - long-term debt pay fixed rate (millions of Canadian dollars) 4,153 1,494 588 — — — 6,235 Equity contracts (millions of Canadian dollars) — 32 12 — — — 44 Commodity contracts - natural gas (billions of cubic feet) 34 25 23 8 3 — 93 Commodity contracts - crude oil (millions of barrels) 11 — — — — — 11 Commodity contracts - power (megawatt per hour) (MW/H) 19 (31) (46) — — — (17) 1 1 Total is an average net purchase/(sale) of power. Fair Value Derivatives For foreign exchange derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative is included in Other income or Interest expense in the Consolidated Statements of Earnings. The offsetting loss or gain on the hedged item attributable to the hedged risk is included in Other income in the Consolidated Statements of Earnings. Any excluded components are included in the Consolidated Statements of Comprehensive Income. Three months ended 2023 2022 (millions of Canadian dollars) Unrealized gain/(loss) on derivative (11) 76 Unrealized gain/(loss) on hedged item 11 (87) Realized loss on derivative (11) (75) Realized gain on hedged item — 85 The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income The following table presents the effect of cash flow hedges and fair value hedges on our consolidated earnings and consolidated comprehensive income, before the effect of income taxes: Three months ended 2023 2022 (millions of Canadian dollars) Amount of unrealized gain/(loss) recognized in OCI Cash flow hedges Foreign exchange contracts — 2 Interest rate contracts (105) 377 Commodity contracts 34 4 Other contracts (2) 3 Fair value hedges Foreign exchange contracts 7 (1) (66) 385 Amount of loss reclassified from AOCI to earnings Foreign exchange contracts 1 — 13 Interest rate contracts 2 8 76 Other contracts 3 1 2 9 91 1 Reported within Transportation and other services revenues and Other income in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. We estimate that a gain of $20 million from AOCI related to cash flow hedges will be reclassified to earnings in the next 12 months. Actual amounts reclassified to earnings depend on the foreign exchange rates, interest rates and commodity prices in effect when derivative contracts that are currently outstanding mature. For all forecasted transactions, the maximum term over which we are hedging exposures to the variability of cash flows is 33 months as at March 31, 2023. Non-Qualifying Derivatives The following table presents the unrealized gains and losses associated with changes in the fair value of our non-qualifying derivatives: Three months ended 2023 2022 (millions of Canadian dollars) Foreign exchange contracts 1 556 433 Interest rate contracts 2 10 — Commodity contracts 3 (39) (68) Other contracts 4 (7) 4 Total unrealized derivative fair value gain/(loss), net 520 369 1 For the respective three months ended periods, reported within Transportation and other services revenues (2023 - $645 million gain; 2022 - $134 million gain) and Other income (2023 - $89 million loss; 2022 - $299 million gain) in the Consolidated Statements of Earnings. 2 Reported as an increase within Interest expense in the Consolidated Statements of Earnings. 3 For the respective three months ended periods, reported within Transportation and other services revenues (2023 - $6 million gain; 2022 - $16 million loss), Commodity sales (2023 - $69 million gain; 2022 - $16 million loss), Commodity costs (2023 - $75 million loss; 2022 - $37 million loss) and Operating and administrative expense (2023 - $39 million loss; 2022 - $1 million gain) in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. LIQUIDITY RISK Liquidity risk is the risk that we will not be able to meet our financial obligations, including commitments and guarantees, as they become due. In order to mitigate this risk, we forecast cash requirements over a 12-month rolling time period to determine whether sufficient funds will be available and maintain substantial capacity under our committed bank lines of credit to address any contingencies. Our primary sources of liquidity and capital resources are funds generated from operations, the issuance of commercial paper and draws under committed credit facilities and long-term debt, which includes debentures and medium-term notes. Our shelf prospectuses with securities regulators enable ready access to either the Canadian or US public capital markets, subject to market conditions. In addition, we maintain sufficient liquidity through committed credit facilities with a diversified group of banks and institutions which, if necessary, enables us to fund all anticipated requirements for approximately one year without accessing the capital markets. We were in compliance with all the terms and conditions of our committed credit facility agreements and term debt indentures as at March 31, 2023. As a result, all credit facilities are available to us and the banks are obligated to fund us under the terms of the facilities. CREDIT RISK Entering into derivative instruments may result in exposure to credit risk from the possibility that a counterparty will default on its contractual obligations. In order to mitigate this risk, we enter into risk management transactions primarily with institutions that possess strong investment grade credit ratings. Credit risk relating to derivative counterparties is mitigated through the maintenance and monitoring of credit exposure limits and contractual requirements, netting arrangements and ongoing monitoring of counterparty credit exposure using external credit rating services and other analytical tools. We have credit concentrations and credit exposure, with respect to derivative instruments, in the following counterparty segments: March 31, December 31, (millions of Canadian dollars) Canadian financial institutions 471 644 US financial institutions 115 277 European financial institutions 178 334 Asian financial institutions 97 224 Other 1 88 105 949 1,584 1 Other is comprised of commodity clearing house and physical natural gas and crude oil counterparties. As at March 31, 2023, we did not provide any letters of credit in lieu of providing cash collateral to our counterparties pursuant to the terms of the relevant ISDA agreements. We held no cash collateral on derivative asset exposures as at March 31, 2023 and December 31, 2022. Gross derivative balances have been presented without the effects of collateral posted. Derivative assets are adjusted for non-performance risk of our counterparties using their credit default swap spread rates and are reflected at fair value. For derivative liabilities, our non-performance risk is considered in the valuation. Credit risk also arises from trade and other long-term receivables, and is mitigated through credit exposure limits and contractual requirements, the assessment of credit ratings and netting arrangements. Within Enbridge Gas, credit risk is mitigated by the utility's large and diversified customer base and the ability to recover an estimate for expected credit losses through the ratemaking process. We actively monitor the financial strength of large industrial customers and, in select cases, have obtained additional security to minimize the risk of default on receivables. Generally, we utilize a loss allowance matrix which contemplates historical credit losses by age of receivables, adjusted for any forward-looking information and management expectations to measure lifetime expected credit losses of receivables. The maximum exposure to credit risk related to non-derivative financial assets is their carrying value. FAIR VALUE MEASUREMENTS Our financial assets and liabilities measured at fair value on a recurring basis include derivatives and other financial instruments. We also disclose the fair value of other financial instruments not measured at fair value. The fair value of financial instruments reflects our best estimates of market value based on generally accepted valuation techniques or models and is supported by observable market prices and rates. When such values are not available, we use discounted cash flow analysis from applicable yield curves based on observable market inputs to estimate fair value. FAIR VALUE OF FINANCIAL INSTRUMENTS We categorize our financial instruments measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. Level 1 Level 1 includes financial instruments measured at fair value based on unadjusted quoted prices for identical assets and liabilities in active markets that are accessible at the measurement date. An active market for a financial instrument is considered to be a market where transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Our Level 1 instruments consist primarily of exchange-traded derivatives used to mitigate the risk of crude oil price fluctuations, US and Canadian treasury bills, investments in exchange-traded equity funds held by our captive insurance subsidiaries, as well as restricted long-term investments in Canadian equity securities that are held in trust in accordance with the CER's regulatory requirements under the Land Matters Consultation Initiative (LMCI). Level 2 Level 2 includes financial instrument valuations determined using directly or indirectly observable inputs other than quoted prices included within Level 1. Financial instruments in this category are valued using models or other industry standard valuation techniques derived from observable market data. Such valuation techniques include inputs such as quoted forward prices, time value, volatility factors and broker quotes that can be observed or corroborated in the market for the entire duration of the financial instrument. Derivatives valued using Level 2 inputs include non-exchange traded derivatives such as over-the-counter foreign exchange forward and cross-currency swap contracts, interest rate swaps, physical forward commodity contracts, as well as commodity swaps and options for which observable inputs can be obtained. We have also categorized the fair value of our long-term debt, investments in debt securities held by our captive insurance subsidiaries, and restricted long-term investments in Canadian government bonds held in accordance with the CER's regulatory requirements under the LMCI as Level 2. The fair value of our long-term debt is based on quoted market prices for instruments of similar yield, credit risk and tenor. When possible, the fair value of our restricted long-term investments is based on quoted market prices for similar instruments and, if not available, based on broker quotes. Level 3 Level 3 includes derivative valuations based on inputs which are less observable, unavailable or where the observable data does not support a significant portion of the derivatives' fair value. Generally, Level 3 derivatives are longer dated transactions, occur in less active markets, occur at locations where pricing information is not available or have no binding broker quote to support Level 2 classification. We have developed methodologies, benchmarked against industry standards, to determine fair value for these derivatives based on the extrapolation of observable future prices and rates. Derivatives valued using Level 3 inputs primarily include long-dated derivative power, NGL and natural gas contracts, basis swaps, commodity swaps, and power and energy swaps, as well as physical forward commodity contracts. We do not have any other financial instruments categorized in Level 3. We use the most observable inputs available to estimate the fair value of our derivatives. When possible, we estimate the fair value of our derivatives based on quoted market prices. If quoted market prices are not available, we use estimates from third party brokers. For non-exchange traded derivatives classified in Levels 2 and 3, we use standard valuation techniques to calculate the estimated fair value. These methods include discounted cash flows for forwards and swaps and Black-Scholes-Merton pricing models for options. Depending on the type of derivative and nature of the underlying risk, we use observable market prices (interest, foreign exchange, commodity and share price) and volatility as primary inputs to these valuation techniques. Finally, we consider our own credit default swap spread, as well as the credit default swap spreads associated with our counterparties, in our estimation of fair value. We have categorized our derivative assets and liabilities measured at fair value as follows: March 31, 2023 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 122 — 122 Interest rate contracts — 215 — 215 Commodity contracts 46 63 84 193 Other contracts — 2 — 2 46 402 84 532 Long-term derivative assets Foreign exchange contracts — 214 — 214 Interest rate contracts — 198 — 198 Commodity contracts — 17 50 67 — 429 50 479 Financial liabilities Current derivative liabilities Foreign exchange contracts — (131) — (131) Interest rate contracts — (20) — (20) Commodity contracts (36) (48) (164) (248) (36) (199) (164) (399) Long-term derivative liabilities Foreign exchange contracts — (980) — (980) Interest rate contracts — (49) — (49) Commodity contracts — (26) (118) (144) — (1,055) (118) (1,173) Total net financial asset/(liability) Foreign exchange contracts — (775) — (775) Interest rate contracts — 344 — 344 Commodity contracts 10 6 (148) (132) Other contracts — 2 — 2 10 (423) (148) (561) December 31, 2022 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 46 — 46 Interest rate contracts — 660 — 660 Commodity contracts 65 90 147 302 Other contracts — 7 — 7 65 803 147 1,015 Long-term derivative assets Foreign exchange contracts — 309 — 309 Interest rate contracts — 254 — 254 Commodity contracts — 17 44 61 Other contracts — 3 — 3 — 583 44 627 Financial liabilities Current derivative liabilities Foreign exchange contracts — (566) — (566) Commodity contracts (60) (77) (195) (332) (60) (643) (195) (898) Long-term derivative liabilities Foreign exchange contracts — (1,116) — (1,116) Interest rate contracts — (4) — (4) Commodity contracts — (38) (132) (170) — (1,158) (132) (1,290) Total net financial asset/(liability) Foreign exchange contracts — (1,327) — (1,327) Interest rate contracts — 910 — 910 Commodity contracts 5 (8) (136) (139) Other contracts — 10 — 10 5 (415) (136) (546) The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments were as follows: March 31, 2023 Fair Unobservable Minimum Maximum Weighted Unit of (fair value in millions of Canadian dollars) Commodity contracts - financial 1 Natural gas (34) Forward gas price 2.30 10.29 4.60 $/mmbtu 2 Crude (12) Forward crude price 72.61 104.87 92.25 $/barrel Power (92) Forward power price 25.07 214.37 70.68 $/MW/H Commodity contracts - physical 1 Natural gas (34) Forward gas price 0.60 8.14 3.51 $/mmbtu 2 Crude (9) Forward crude price 74.97 116.60 91.05 $/barrel Power 33 Forward power price 13.30 107.36 55.46 $/MW/H (148) 1 Financial and physical forward commodity contracts are valued using a market approach valuation technique. 2 One million British thermal units (mmbtu). If adjusted, the significant unobservable inputs disclosed in the table above would have a direct impact on the fair value of our Level 3 derivative instruments. The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments include forward commodity prices. Changes in forward commodity prices could result in significantly different fair values for our Level 3 derivatives. Changes in net fair value of derivative assets and liabilities classified as Level 3 in the fair value hierarchy were as follows: Three months ended 2023 2022 (millions of Canadian dollars) Level 3 net derivative liability at beginning of period (136) (108) Total gain/(loss) Included in earnings 1 (44) (52) Included in OCI 33 4 Settlements (1) (24) Level 3 net derivative liability at end of period (148) (180) 1 Reported within Transportation and other services revenues, Commodity costs and Operating and administrative expense in the Consolidated Statements of Earnings. There were no transfers into or out of Level 3 as at March 31, 2023 or December 31, 2022. NET INVESTMENT HEDGES We currently have designated a portion of our US dollar-denominated debt as a hedge of our net investment in US dollar-denominated investments and subsidiaries. During the three months ended March 31, 2023 and 2022, we recognized unrealized foreign exchange gains of $59 million and $133 million, respectively, on the translation of US dollar-denominated debt, in OCI. No unrealized gains or losses on the change in fair value of our outstanding foreign exchange forward contracts were recognized in OCI during the three months ended March 31, 2023 and 2022. No realized gains or losses associated with the settlement of foreign exchange forward contracts were recognized in OCI during the three months ended March 31, 2023 and 2022. During the three months ended March 31, 2023 and 2022, we recognized a realized loss of $44 million and nil, respectively, associated with the settlement of US dollar-denominated debt that had matured during the period, in OCI. FAIR VALUE OF OTHER FINANCIAL INSTRUMENTS Certain long-term investments in other entities with no actively quoted prices are classified as Fair Value Measurement Alternative (FVMA) investments and are recorded at cost less impairment. The carrying value of FVMA investments totaled $209 million and $102 million as at March 31, 2023 and December 31, 2022, respectively. As at March 31, 2023, we had investments with a fair value of $646 million included in Restricted long-term investments in the Consolidated Statements of Financial Position (December 31, 2022 - $593 million). These securities are classified as available-for-sale and represent restricted funds which are collected from customers and held in trust for the purpose of funding pipeline abandonment in accordance with the CER's regulatory requirements. We had restricted long-term investments held in trust totaling $249 million as at March 31, 2023, which are classified as Level 1 in the fair value hierarchy (December 31, 2022 - $236 million). We also had restricted long-term investments held in trust totaling $397 million (cost basis - $451 million ) and $357 million (cost basis - $437 million ) as at March 31, 2023 and December 31, 2022, respectively, which are classified as Level 2 in the fair value hierarchy. There were unrealized holding gains of $34 million on these investments for the three months ended March 31, 2023 (2022 - losses of $60 million). We have wholly-owned captive insurance subsidiaries whose principal activity is providing insurance and reinsurance coverage for certain insurable property and casualty risk exposures of our operating subsidiaries and certain equity investments. As at March 31, 2023, the fair value of investments in equity funds and debt securities held by our captive insurance subsidiaries was $351 million and $309 million, respectively (December 31, 2022 - $335 million and $298 million, respectively). Our investments in debt securities had a cost basis of $303 million as at March 31, 2023 (December 31, 2022 - $295 million). These investments in equity funds and debt securities are recognized at fair value, classified as Level 1 and Level 2 in the fair value hierarchy, respectively, and are recorded in Other current assets and Long-term investments in the Consolidated Statements of Financial Position. There were unrealized holding gains of $15 million and losses of $8 million for the three months ended March 31, 2023 and 2022, respectively.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the three months ended March 31, 2023 and 2022 were 21.5% and 22.4%, respectively. The period-over-period decrease in the effective income tax rate is due to higher investment tax credits available on certain capital projects in the US, and the effects of rate-regulated accounting for income taxes relative to earnings.

OTHER INCOME

OTHER INCOME	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
OTHER INCOME	OTHER INCOME Three months ended March 31, 2023 2022 (millions of Canadian dollars) Gain/(loss) on dispositions 3 (2) Realized foreign currency gain 145 2 Unrealized foreign currency gain/(loss) (188) 367 Net defined pension and OPEB credit 33 58 Other 109 33 102 458

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2023
Loss Contingency [Abstract]
CONTINGENCIES	CONTINGENCIES LITIGATION We and our subsidiaries are subject to various legal and regulatory actions and proceedings which arise in the normal course of business, including interventions in regulatory proceedings and challenges to regulatory approvals and permits. While the final outcome of such actions and proceedings cannot be predicted with certainty, management believes that the resolution of such actions and proceedings will not have a material impact on our interim consolidated financial position or results of operations. TAX MATTERS We and our subsidiaries maintain tax liabilities related to uncertain tax positions. While fully supportable in our view, these tax positions, if challenged by tax authorities, may not be fully sustained on review. INSURANCE We maintain a comprehensive insurance program for us, our operating subsidiaries and certain equity investments. This program includes insurance coverage in types and amounts and is subject to certain deductibles, terms, exclusions and conditions that are generally consistent with coverage considered customary for our industry, however insurance does not cover all events in all circumstances. We self-insure a significant portion of expected losses relating to certain insurance property and casualty risk exposures in the US and Canada through our wholly-owned captive insurance subsidiaries. In the unlikely event multiple insurable incidents occur which exceed coverage limits within the same insurance period, the total insurance coverage will be allocated among entities on an equitable basis based on an insurance allocation agreement we have entered into with us and other subsidiaries. Insurance estimates include certain assumptions and management judgments regarding the frequency and severity of claims, claim development and settlement practices and the selection of estimated loss among estimates derived using different methods.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT TRES PALACIOS HOLDINGS LLC On April 3, 2023, we acquired Tres Palacios Holdings LLC (Tres Palacios) for US$335 million of cash, subject to customary closing adjustments. Tres Palacios is a natural gas storage facility located in the US Gulf Coast and its infrastructure serves Texas gas-fired power generation and liquefied natural gas exports, as well as Mexico pipeline exports.

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Major Products and Services Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Transportation revenue 2,942 1,384 276 — — — 4,602 Storage and other revenue 64 95 99 — — — 258 Gas distribution revenue — — 2,287 — — — 2,287 Electricity revenue — — — 66 — — 66 Total revenue from contracts with customers 3,006 1,479 2,662 66 — — 7,213 Commodity sales — — — — 4,783 — 4,783 Other revenue 1,2 30 11 (40) 78 — — 79 Intersegment revenue 129 1 3 — 18 (151) — Total revenue 3,165 1,491 2,625 144 4,801 (151) 12,075 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated Three months ended (millions of Canadian dollars) Transportation revenue 2,685 1,194 251 — — — 4,130 Storage and other revenue 51 84 47 — — — 182 Gas gathering and processing revenue — 15 — — — — 15 Gas distribution revenue — — 2,098 — — — 2,098 Electricity revenue — — — 62 — — 62 Total revenue from contracts with customers 2,736 1,293 2,396 62 — — 6,487 Commodity sales — — — — 8,325 — 8,325 Other revenue 1,2 178 7 4 94 2 — 285 Intersegment revenue 141 — 11 — 10 (162) — Total revenue 3,055 1,300 2,411 156 8,337 (162) 15,097 1 Includes realized and unrealized gains and losses from our hedging program which for the three months ended March 31, 2023 were a net $55 million loss (2022 - $94 million gain). 2 Includes revenues from lease contracts for the three months ended March 31, 2023 and 2022 of $144 million and $164 million, respectively. Recognition and Measurement of Revenues Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Consolidated Three months ended March 31, 2023 (millions of Canadian dollars) Revenue from products transferred at a point in time — — 30 — 30 Revenue from products and services transferred over time 1 3,006 1,479 2,632 66 7,183 Total revenue from contracts with customers 3,006 1,479 2,662 66 7,213 Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Consolidated Three months ended March 31, 2022 (millions of Canadian dollars) Revenue from products transferred at a point in time — — 16 — 16 Revenue from products and services transferred over time 1 2,736 1,293 2,380 62 6,471 Total revenue from contracts with customers 2,736 1,293 2,396 62 6,487 1 Revenue from crude oil and natural gas pipeline transportation, storage, natural gas gathering, compression and treating, natural gas distribution, natural gas storage services and electricity sales.
Schedule of Contract with Customer, Asset and Liability	Contract Balances Contract Receivables Contract Assets Contract Liabilities (millions of Canadian dollars) Balance as at March 31, 2023 3,186 232 2,328 Balance as at December 31, 2022 3,183 230 2,241

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Reporting Information by Segment	Three months ended Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated (millions of Canadian dollars) Operating revenues 3,165 1,491 2,625 144 4,801 (151) 12,075 Commodity and gas distribution costs — — (1,612) (4) (4,782) 168 (6,230) Operating and administrative (1,123) (549) (309) (53) (18) 15 (2,037) Income/(loss) from equity investments 248 238 — 35 — (4) 517 Other income/(expense) 73 25 12 14 — (22) 102 Earnings before interest, income taxes and depreciation and amortization 2,363 1,205 716 136 1 6 4,427 Depreciation and amortization (1,146) Interest expense (905) Income tax expense (510) Earnings 1,866 Capital expenditures 1 280 527 264 45 — 25 1,141 Three months ended Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services Eliminations and Other Consolidated (millions of Canadian dollars) Operating revenues 3,055 1,300 2,411 156 8,337 (162) 15,097 Commodity and gas distribution costs (11) — (1,468) (4) (8,427) 163 (9,747) Operating and administrative (947) (530) (299) (48) (14) (37) (1,875) Income from equity investments 215 221 — 55 — — 491 Other income 17 23 21 3 3 391 458 Earnings/(loss) before interest, income taxes and depreciation and amortization 2,329 1,014 665 162 (101) 355 4,424 Depreciation and amortization (1,055) Interest expense (719) Income tax expense (593) Earnings 2,057 Capital expenditures 1 545 229 266 6 — 12 1,058 1 Includes allowance for equity funds used during construction.

EARNINGS PER COMMON SHARE AND_2

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Weighted Average Shares Outstanding Used to Calculate Basic and Diluted Earnings Per Common Share	Weighted average shares outstanding used to calculate basic and diluted earnings per share are as follows: Three months ended 2023 2022 (number of shares in millions) Weighted average shares outstanding 2,025 2,026 Effect of dilutive options and RSUs 3 3 Diluted weighted average shares outstanding 2,028 2,029
Schedule of Preferred Stock Characteristics by Class	On May 2, 2023, our Board of Directors declared the following quarterly dividends. All dividends are payable on June 1, 2023 to shareholders of record on May 15, 2023. Dividend per share Common Shares 1 $0.88750 Preference Shares, Series A $0.34375 Preference Shares, Series B $0.32513 Preference Shares, Series D 2 $0.33825 Preference Shares, Series F $0.29306 Preference Shares, Series H $0.27350 Preference Shares, Series L US$0.36612 Preference Shares, Series N $0.31788 Preference Shares, Series P $0.27369 Preference Shares, Series R $0.25456 Preference Shares, Series 1 US$0.37182 Preference Shares, Series 3 $0.23356 Preference Shares, Series 5 US$0.33596 Preference Shares, Series 7 $0.27806 Preference Shares, Series 9 $0.25606 Preference Shares, Series 11 $0.24613 Preference Shares, Series 13 $0.19019 Preference Shares, Series 15 $0.18644 Preference Shares, Series 19 3 $0.38825 1 The quarterly dividend per common share was increased 3.2% to $0.8875 from $0.86, effective March 1, 2023. 2 The quarterly dividend per share paid on Preference Shares, Series D was increased to $0.33825 from $0.27875 on March 1, 2023 due to reset of the annual dividend on March 1, 2023. 3 The quarterly dividend per share paid on Preference Shares, Series 19 was increased to $0.38825 from $0.30625 on March 1, 2023 due to reset of the annual dividend on March 1, 2023.

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Credit Facilities	The following table provides details of our committed credit facilities as at March 31, 2023: Maturity 1 Total Draws 2 Available (millions of Canadian dollars) Enbridge Inc. 2023-2027 9,623 7,053 2,570 Enbridge (U.S.) Inc. 2024-2027 8,594 1,702 6,892 Enbridge Pipelines Inc. 2024 2,000 876 1,124 Enbridge Gas Inc. 2024 2,500 1,440 1,060 Total committed credit facilities 22,717 11,071 11,646 1 Maturity date is inclusive of the one-year term out option for certain credit facilities. 2 Includes facility draws and commercial paper issuances that are back-stopped by credit facilities.
Schedule of Long-Term Debt Instruments	During the three months ended March 31, 2023, we completed the following long-term debt issuances totaling US$3.0 billion: Company Issue Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. March 2023 5.70% sustainability-linked senior notes due March 2033 1 US$2,300 March 2023 5.97% senior notes due March 2026 2 US$700 1 The sustainability-linked senior notes are subject to a sustainability performance target of 35% reduction in emissions intensity from 2018 levels at an observation date of December 31, 2030. If the target is not met, on September 8, 2031, the interest rate will be set to equal 5.70% plus a margin of 50 basis points. 2 We have the option to call the notes at par after one year from issuance. Refer to Note 7 - Risk Management and Financial Instruments .
Schedule of Repayment of Debt	During the three months ended March 31, 2023, we completed the following long-term debt repayments totaling US$513 million and $275 million: Company Repayment Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. January 2023 3.94% medium-term notes $275 February 2023 Floating rate notes 1 US$500 Tri Global Energy, LLC January 2023 10.00 % senior notes US$4 January 2023 14.00 % senior notes US$9 1 The notes carried an interest rate set to equal the Secured Overnight Financing Rate plus a margin of 40 basis points.

COMPONENTS OF ACCUMULATED OTH_2

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	3 Months Ended
	Mar. 31, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of Changes in AOCI Attributable to Enbridge, Inc. Common Shareholders	Changes in Accumulated other comprehensive income/(loss) (AOCI) attributable to our common shareholders for the three months ended March 31, 2023 and 2022 are as follows: Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2023 121 (35) (1,137) 4,348 5 218 3,520 Other comprehensive income/(loss) retained in AOCI (90) 7 15 (57) — — (125) Other comprehensive loss/(income) reclassified to earnings Interest rate contracts 1 8 — — — — — 8 Other contracts 2 1 — — — — — 1 Amortization of pension and OPEB actuarial gain 3 — — — — — (5) (5) (81) 7 15 (57) — (5) (121) Tax impact Income tax on amounts retained in AOCI 28 — — — — — 28 Income tax on amounts reclassified to earnings (2) — — — — 1 (1) 26 — — — — 1 27 Balance as at March 31, 2023 66 (28) (1,122) 4,291 5 214 3,426 Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2022 (897) — (166) 56 (5) (84) (1,096) Other comprehensive income/(loss) retained in AOCI 384 (1) 133 (691) — — (175) Other comprehensive loss/(income) reclassified to earnings Interest rate contracts 1 76 — — — — — 76 Foreign exchange contracts 4 (4) — — — — — (4) Other contracts 2 2 — — — — — 2 Amortization of pension and OPEB actuarial gain 3 — — — — — (3) (3) 458 (1) 133 (691) — (3) (104) Tax impact Income tax on amounts retained in AOCI (92) — — — — — (92) Income tax on amounts reclassified to earnings (17) — — — — 1 (16) (109) — — — — 1 (108) Balance as at March 31, 2022 (548) (1) (33) (635) (5) (86) (1,308) 1 Reported within Interest expense in the Consolidated Statements of Earnings. 2 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. 3 These components are included in the computation of net periodic benefit credit and are reported within Other income in the Consolidated Statements of Earnings. 4 Reported within Transportation and other services revenues and Other income in the Consolidated Statements of Earnings.

RISK MANAGEMENT AND FINANCIAL_2

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the Consolidated Statements of Financial Position Location and Carrying Value of Derivative Instruments	The following table summarizes the Consolidated Statements of Financial Position location and carrying value of our derivative instruments, as well as the maximum potential settlement amounts, in the event of the specific circumstances described above. All amounts are presented gross in the Consolidated Statements of Financial Position. March 31, 2023 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 68 54 122 (13) 109 Interest rate contracts 194 — 21 215 (11) 204 Commodity contracts — — 193 193 (118) 75 Other contracts — — 2 2 — 2 194 68 270 532 (142) 390 Deferred amounts and other assets Foreign exchange contracts — 83 131 214 (108) 106 Interest rate contracts 154 — 44 198 (43) 155 Commodity contracts — — 67 67 (30) 37 154 83 242 479 (181) 298 Other current liabilities Foreign exchange contracts — (42) (89) (131) 13 (118) Interest rate contracts (19) — (1) (20) 11 (9) Commodity contracts (30) — (218) (248) 118 (130) (49) (42) (308) (399) 142 (257) Other long-term liabilities Foreign exchange contracts — — (980) (980) 108 (872) Interest rate contracts (4) — (45) (49) 43 (6) Commodity contracts (21) — (123) (144) 30 (114) (25) — (1,148) (1,173) 181 (992) Total net derivative asset/(liability) Foreign exchange contracts — 109 (884) (775) — (775) Interest rate contracts 325 — 19 344 — 344 Commodity contracts (51) — (81) (132) — (132) Other contracts — — 2 2 — 2 274 109 (944) (561) — (561) December 31, 2022 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — — 46 46 (41) 5 Interest rate contracts 649 — 11 660 — 660 Commodity contracts — — 302 302 (182) 120 Other contracts — — 7 7 — 7 649 — 366 1,015 (223) 792 Deferred amounts and other assets Foreign exchange contracts — 156 153 309 (138) 171 Interest rate contracts 254 — — 254 — 254 Commodity contracts — — 61 61 (25) 36 Other contracts 1 — 2 3 — 3 255 156 216 627 (163) 464 Other current liabilities Foreign exchange contracts — (42) (524) (566) 41 (525) Commodity contracts (48) — (284) (332) 182 (150) (48) (42) (808) (898) 223 (675) Other long-term liabilities Foreign exchange contracts — — (1,116) (1,116) 138 (978) Interest rate contracts (3) — (1) (4) — (4) Commodity contracts (37) — (133) (170) 25 (145) (40) — (1,250) (1,290) 163 (1,127) Total net derivative asset/(liability) Foreign exchange contracts — 114 (1,441) (1,327) — (1,327) Interest rate contracts 900 — 10 910 — 910 Commodity contracts (85) — (54) (139) — (139) Other contracts 1 — 9 10 — 10 816 114 (1,476) (546) — (546)
Schedule of the Maturity and Notional Principal or Quantity Outstanding Related to Derivative Instruments	The following table summarizes the maturity and notional principal or quantity outstanding related to our derivative instruments: March 31, 2023 2023 2024 2025 2026 2027 Thereafter Total Foreign exchange contracts - US dollar forwards - purchase (millions of US dollars) 832 1,000 500 — — — 2,332 Foreign exchange contracts - US dollar forwards - sell (millions of US dollars) 4,566 4,708 4,763 4,157 2,969 1,728 22,891 Foreign exchange contracts - British pound (GBP) forwards - sell (millions of GBP) 21 30 30 28 32 — 141 Foreign exchange contracts - Euro forwards - sell (millions of Euro) 69 91 86 85 81 262 674 Foreign exchange contracts - Japanese yen forwards - purchase (millions of yen) — — 84,800 — — — 84,800 Interest rate contracts - short-term debt pay fixed rate (millions of Canadian dollars) 7,821 1,929 80 26 25 39 9,920 Interest rate contracts - short-term debt receive fixed rate (millions of Canadian dollars) 711 947 947 179 — — 2,784 Interest rate contracts - long-term debt pay fixed rate (millions of Canadian dollars) 4,153 1,494 588 — — — 6,235 Equity contracts (millions of Canadian dollars) — 32 12 — — — 44 Commodity contracts - natural gas (billions of cubic feet) 34 25 23 8 3 — 93 Commodity contracts - crude oil (millions of barrels) 11 — — — — — 11 Commodity contracts - power (megawatt per hour) (MW/H) 19 (31) (46) — — — (17) 1 1 Total is an average net purchase/(sale) of power.
Schedule of Effect of Cash Flow Hedges and Net Investment Hedges on Consolidated Earnings and Consolidated Comprehensive Income, Before Income Taxes	For foreign exchange derivative instruments that are designated and qualify as fair value hedges, the gain or loss on the derivative is included in Other income or Interest expense in the Consolidated Statements of Earnings. The offsetting loss or gain on the hedged item attributable to the hedged risk is included in Other income in the Consolidated Statements of Earnings. Any excluded components are included in the Consolidated Statements of Comprehensive Income. Three months ended 2023 2022 (millions of Canadian dollars) Unrealized gain/(loss) on derivative (11) 76 Unrealized gain/(loss) on hedged item 11 (87) Realized loss on derivative (11) (75) Realized gain on hedged item — 85 The following table presents the effect of cash flow hedges and fair value hedges on our consolidated earnings and consolidated comprehensive income, before the effect of income taxes: Three months ended 2023 2022 (millions of Canadian dollars) Amount of unrealized gain/(loss) recognized in OCI Cash flow hedges Foreign exchange contracts — 2 Interest rate contracts (105) 377 Commodity contracts 34 4 Other contracts (2) 3 Fair value hedges Foreign exchange contracts 7 (1) (66) 385 Amount of loss reclassified from AOCI to earnings Foreign exchange contracts 1 — 13 Interest rate contracts 2 8 76 Other contracts 3 1 2 9 91 1 Reported within Transportation and other services revenues and Other income in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.
Schedule of Unrealized Gains and Losses Associated With Changes in the Fair Value of Non-Qualifying Derivatives	The following table presents the unrealized gains and losses associated with changes in the fair value of our non-qualifying derivatives: Three months ended 2023 2022 (millions of Canadian dollars) Foreign exchange contracts 1 556 433 Interest rate contracts 2 10 — Commodity contracts 3 (39) (68) Other contracts 4 (7) 4 Total unrealized derivative fair value gain/(loss), net 520 369 1 For the respective three months ended periods, reported within Transportation and other services revenues (2023 - $645 million gain; 2022 - $134 million gain) and Other income (2023 - $89 million loss; 2022 - $299 million gain) in the Consolidated Statements of Earnings. 2 Reported as an increase within Interest expense in the Consolidated Statements of Earnings. 3 For the respective three months ended periods, reported within Transportation and other services revenues (2023 - $6 million gain; 2022 - $16 million loss), Commodity sales (2023 - $69 million gain; 2022 - $16 million loss), Commodity costs (2023 - $75 million loss; 2022 - $37 million loss) and Operating and administrative expense (2023 - $39 million loss; 2022 - $1 million gain) in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.
Schedule of Group Credit Concentrations and Maximum Credit Exposure, With Respect to Derivative Instruments	We have credit concentrations and credit exposure, with respect to derivative instruments, in the following counterparty segments: March 31, December 31, (millions of Canadian dollars) Canadian financial institutions 471 644 US financial institutions 115 277 European financial institutions 178 334 Asian financial institutions 97 224 Other 1 88 105 949 1,584 1 Other is comprised of commodity clearing house and physical natural gas and crude oil counterparties.
Schedule of Derivative Assets and Liabilities Measured at Fair Value	We have categorized our derivative assets and liabilities measured at fair value as follows: March 31, 2023 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 122 — 122 Interest rate contracts — 215 — 215 Commodity contracts 46 63 84 193 Other contracts — 2 — 2 46 402 84 532 Long-term derivative assets Foreign exchange contracts — 214 — 214 Interest rate contracts — 198 — 198 Commodity contracts — 17 50 67 — 429 50 479 Financial liabilities Current derivative liabilities Foreign exchange contracts — (131) — (131) Interest rate contracts — (20) — (20) Commodity contracts (36) (48) (164) (248) (36) (199) (164) (399) Long-term derivative liabilities Foreign exchange contracts — (980) — (980) Interest rate contracts — (49) — (49) Commodity contracts — (26) (118) (144) — (1,055) (118) (1,173) Total net financial asset/(liability) Foreign exchange contracts — (775) — (775) Interest rate contracts — 344 — 344 Commodity contracts 10 6 (148) (132) Other contracts — 2 — 2 10 (423) (148) (561) December 31, 2022 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 46 — 46 Interest rate contracts — 660 — 660 Commodity contracts 65 90 147 302 Other contracts — 7 — 7 65 803 147 1,015 Long-term derivative assets Foreign exchange contracts — 309 — 309 Interest rate contracts — 254 — 254 Commodity contracts — 17 44 61 Other contracts — 3 — 3 — 583 44 627 Financial liabilities Current derivative liabilities Foreign exchange contracts — (566) — (566) Commodity contracts (60) (77) (195) (332) (60) (643) (195) (898) Long-term derivative liabilities Foreign exchange contracts — (1,116) — (1,116) Interest rate contracts — (4) — (4) Commodity contracts — (38) (132) (170) — (1,158) (132) (1,290) Total net financial asset/(liability) Foreign exchange contracts — (1,327) — (1,327) Interest rate contracts — 910 — 910 Commodity contracts 5 (8) (136) (139) Other contracts — 10 — 10 5 (415) (136) (546)
Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Level 3 Derivative Instruments	The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments were as follows: March 31, 2023 Fair Unobservable Minimum Maximum Weighted Unit of (fair value in millions of Canadian dollars) Commodity contracts - financial 1 Natural gas (34) Forward gas price 2.30 10.29 4.60 $/mmbtu 2 Crude (12) Forward crude price 72.61 104.87 92.25 $/barrel Power (92) Forward power price 25.07 214.37 70.68 $/MW/H Commodity contracts - physical 1 Natural gas (34) Forward gas price 0.60 8.14 3.51 $/mmbtu 2 Crude (9) Forward crude price 74.97 116.60 91.05 $/barrel Power 33 Forward power price 13.30 107.36 55.46 $/MW/H (148) 1 Financial and physical forward commodity contracts are valued using a market approach valuation technique. 2 One million British thermal units (mmbtu).
Schedule of Changes in Net Fair Value of Derivative Assets and Liabilities Classified as Level 3 in the Fair Value Hierarchy	Changes in net fair value of derivative assets and liabilities classified as Level 3 in the fair value hierarchy were as follows: Three months ended 2023 2022 (millions of Canadian dollars) Level 3 net derivative liability at beginning of period (136) (108) Total gain/(loss) Included in earnings 1 (44) (52) Included in OCI 33 4 Settlements (1) (24) Level 3 net derivative liability at end of period (148) (180) 1 Reported within Transportation and other services revenues, Commodity costs and Operating and administrative expense in the Consolidated Statements of Earnings.

OTHER INCOME (Tables)

OTHER INCOME (Tables)	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Schedule of Other Income	Three months ended March 31, 2023 2022 (millions of Canadian dollars) Gain/(loss) on dispositions 3 (2) Realized foreign currency gain 145 2 Unrealized foreign currency gain/(loss) (188) 367 Net defined pension and OPEB credit 33 58 Other 109 33 102 458

REVENUES - Disaggregation of Re

REVENUES - Disaggregation of Revenue (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 7,213	$ 6,487
Total revenues	12,075	15,097
Mark-to-market (loss) gain from hedging program	(55)	94
Revenues from lease contracts	144	164
Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	30	16
Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	7,183	6,471
Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4,602	4,130
Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	258	182
Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		15
Gas distribution sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,287	2,098
Total revenues	2,279	2,098
Electricity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	66	62
Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	4,783	8,325
Total revenues	4,783	8,325
Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	79	285
Liquids Pipelines
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,006	2,736
Liquids Pipelines | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Liquids Pipelines | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,006	2,736
Gas Transmission and Midstream
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,479	1,293
Gas Transmission and Midstream | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Gas Transmission and Midstream | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,479	1,293
Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,662	2,396
Gas Distribution and Storage | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	30	16
Gas Distribution and Storage | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,632	2,380
Renewable Power Generation
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	66	62
Renewable Power Generation | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Renewable Power Generation | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	66	62
Business segments | Liquids Pipelines
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,006	2,736
Total revenues	3,165	3,055
Business segments | Liquids Pipelines | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,942	2,685
Business segments | Liquids Pipelines | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	64	51
Business segments | Liquids Pipelines | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		0
Business segments | Liquids Pipelines | Gas distribution sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Liquids Pipelines | Electricity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Liquids Pipelines | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Business segments | Liquids Pipelines | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	30	178
Business segments | Gas Transmission and Midstream
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,479	1,293
Total revenues	1,491	1,300
Business segments | Gas Transmission and Midstream | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,384	1,194
Business segments | Gas Transmission and Midstream | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	95	84
Business segments | Gas Transmission and Midstream | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		15
Business segments | Gas Transmission and Midstream | Gas distribution sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Gas Transmission and Midstream | Electricity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Gas Transmission and Midstream | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Business segments | Gas Transmission and Midstream | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	11	7
Business segments | Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,662	2,396
Total revenues	2,625	2,411
Business segments | Gas Distribution and Storage | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	276	251
Business segments | Gas Distribution and Storage | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	99	47
Business segments | Gas Distribution and Storage | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		0
Business segments | Gas Distribution and Storage | Gas distribution sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,287	2,098
Business segments | Gas Distribution and Storage | Electricity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Gas Distribution and Storage | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Business segments | Gas Distribution and Storage | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	(40)	4
Business segments | Renewable Power Generation
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	66	62
Total revenues	144	156
Business segments | Renewable Power Generation | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Renewable Power Generation | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Renewable Power Generation | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		0
Business segments | Renewable Power Generation | Gas distribution sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Renewable Power Generation | Electricity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	66	62
Business segments | Renewable Power Generation | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Business segments | Renewable Power Generation | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	78	94
Business segments | Energy Services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Total revenues	4,801	8,337
Business segments | Energy Services | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Energy Services | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Energy Services | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		0
Business segments | Energy Services | Gas distribution sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Energy Services | Electricity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Business segments | Energy Services | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	4,783	8,325
Business segments | Energy Services | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	2
Eliminations and Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Total revenues	(151)	(162)
Eliminations and Other | Transportation revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Eliminations and Other | Storage and other revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Eliminations and Other | Gas gathering and processing revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers		0
Eliminations and Other | Gas distribution sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Eliminations and Other | Electricity revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
Eliminations and Other | Commodity sales
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Eliminations and Other | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Intersegment revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	(151)	(162)
Total revenues	(151)	(162)
Intersegment revenue | Liquids Pipelines
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	129	141
Intersegment revenue | Gas Transmission and Midstream
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	1	0
Intersegment revenue | Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	3	11
Intersegment revenue | Renewable Power Generation
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Intersegment revenue | Energy Services
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	$ 18	$ 10

REVENUES - Contract Balances (D

REVENUES - Contract Balances (Details) - CAD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract Receivables	$ 3,186	$ 3,183
Contract Assets	232	230
Contract Liabilities	$ 2,328	$ 2,241

REVENUES - Narrative (Details)

REVENUES - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 CAD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 36
Increase in contract with customers, liability	124
Remaining performance obligation	60,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 6,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 6,700
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period	1 year

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segmented Information
Operating revenues	$ 12,075	$ 15,097
Commodity and gas distribution costs	(6,230)	(9,747)
Operating and administrative	(2,037)	(1,875)
Income/(loss) from equity investments	517	491
Other income/(expense)	102	458
Earnings/(loss) before interest, income taxes and depreciation and amortization	4,427	4,424
Depreciation and amortization	(1,146)	(1,055)
Interest expense	(905)	(719)
Income tax expense	(510)	(593)
Earnings	1,866	2,057
Capital expenditures	1,141	1,058
Eliminations and Other
Segmented Information
Operating revenues	(151)	(162)
Commodity and gas distribution costs	168	163
Operating and administrative	15	(37)
Income/(loss) from equity investments	(4)	0
Other income/(expense)	(22)	391
Earnings/(loss) before interest, income taxes and depreciation and amortization	6	355
Capital expenditures	25	12
Liquids Pipelines | Business segments
Segmented Information
Operating revenues	3,165	3,055
Commodity and gas distribution costs	0	(11)
Operating and administrative	(1,123)	(947)
Income/(loss) from equity investments	248	215
Other income/(expense)	73	17
Earnings/(loss) before interest, income taxes and depreciation and amortization	2,363	2,329
Capital expenditures	280	545
Gas Transmission and Midstream | Business segments
Segmented Information
Operating revenues	1,491	1,300
Commodity and gas distribution costs	0	0
Operating and administrative	(549)	(530)
Income/(loss) from equity investments	238	221
Other income/(expense)	25	23
Earnings/(loss) before interest, income taxes and depreciation and amortization	1,205	1,014
Capital expenditures	527	229
Gas Distribution and Storage | Business segments
Segmented Information
Operating revenues	2,625	2,411
Commodity and gas distribution costs	(1,612)	(1,468)
Operating and administrative	(309)	(299)
Income/(loss) from equity investments	0	0
Other income/(expense)	12	21
Earnings/(loss) before interest, income taxes and depreciation and amortization	716	665
Capital expenditures	264	266
Renewable Power Generation | Business segments
Segmented Information
Operating revenues	144	156
Commodity and gas distribution costs	(4)	(4)
Operating and administrative	(53)	(48)
Income/(loss) from equity investments	35	55
Other income/(expense)	14	3
Earnings/(loss) before interest, income taxes and depreciation and amortization	136	162
Capital expenditures	45	6
Energy Services | Business segments
Segmented Information
Operating revenues	4,801	8,337
Commodity and gas distribution costs	(4,782)	(8,427)
Operating and administrative	(18)	(14)
Income/(loss) from equity investments	0	0
Other income/(expense)	0	3
Earnings/(loss) before interest, income taxes and depreciation and amortization	1	(101)
Capital expenditures	$ 0	$ 0

EARNINGS PER COMMON SHARE AND_3

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Diluted (Details) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Weighted average number of common shares outstanding diluted
Weighted average shares outstanding (in shares)	2,025	2,026
Effect of dilutive options and RSUs (in shares)	3	3
Diluted weighted average shares outstanding (in shares)	2,028	2,029
Stock options
Weighted average number of common shares outstanding diluted
Antidilutive securities excluded from the diluted earnings per common share calculation (in shares)	16.7	12.9
Weighted average exercise price of antidilutive securities (in Canadian dollars per share)	$ 55.62	$ 56.09

EARNINGS PER COMMON SHARE AND_4

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Dividends Per Share (Details)							3 Months Ended
	Jun. 01, 2023 $ / shares	Jun. 01, 2023 $ / shares	May 02, 2023 $ / shares	May 02, 2023 $ / shares	Mar. 01, 2023 $ / shares	Feb. 28, 2023 $ / shares	Mar. 31, 2023 $ / shares	Mar. 31, 2022 $ / shares
Dividends Payable [Line Items]
Common stock, dividends, per share, declared (in dollars per share)					$ 0.8875	$ 0.86
Common stock, dividends per share, paid (in dollars per share)							$ 0.888	$ 0.860
Common Stock Dividends Per Share Increase Decrease					3.20%
Preference Shares, Series L
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)					$ 0.38825	0.30625
Common shares | Forecast
Dividends Payable [Line Items]
Common stock, dividends per share, paid (in dollars per share)	$ 0.88750
Common shares | Subsequent event
Dividends Payable [Line Items]
Common stock, dividends, per share, declared (in dollars per share)			$ 0.88750
Preferred share investment | Preference Shares, Series A | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.34375
Preferred share investment | Preference Shares, Series A | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.34375
Preferred share investment | Preference Shares, Series B
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)					$ 0.33825	$ 0.27875
Preferred share investment | Preference Shares, Series B | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.32513
Preferred share investment | Preference Shares, Series B | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.32513
Preferred share investment | Preference Shares, Series D | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.33825
Preferred share investment | Preference Shares, Series D | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.33825
Preferred share investment | Preference Shares, Series F | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.29306
Preferred share investment | Preference Shares, Series F | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.29306
Preferred share investment | Preference Shares, Series H | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.27350
Preferred share investment | Preference Shares, Series H | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.27350
Preferred share investment | Preference Shares, Series L | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)		$ 0.36612
Preferred share investment | Preference Shares, Series L | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)				$ 0.36612
Preferred share investment | Preference Shares, Series N | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.31788
Preferred share investment | Preference Shares, Series N | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.31788
Preferred share investment | Preference Shares, Series P | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.27369
Preferred share investment | Preference Shares, Series P | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.27369
Preferred share investment | Preference Shares, Series R | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.25456
Preferred share investment | Preference Shares, Series R | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.25456
Preferred share investment | Preference Shares, Series 1 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)		0.37182
Preferred share investment | Preference Shares, Series 1 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)				0.37182
Preferred share investment | Preference Shares, Series 3 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.23356
Preferred share investment | Preference Shares, Series 3 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.23356
Preferred share investment | Preference Shares, Series 5 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)		$ 0.33596
Preferred share investment | Preference Shares, Series 5 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)				$ 0.33596
Preferred share investment | Preference Shares, Series 7 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.27806
Preferred share investment | Preference Shares, Series 7 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.27806
Preferred share investment | Preference Shares, Series 9 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.25606
Preferred share investment | Preference Shares, Series 9 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.25606
Preferred share investment | Preference Shares, Series 11 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.24613
Preferred share investment | Preference Shares, Series 11 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.24613
Preferred share investment | Preference Shares, Series 13 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.19019
Preferred share investment | Preference Shares, Series 13 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.19019
Preferred share investment | Preference Shares, Series 15 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	0.18644
Preferred share investment | Preference Shares, Series 15 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			0.18644
Preferred share investment | Preference Shares, Series 19 | Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (dollars per share)	$ 0.38825
Preferred share investment | Preference Shares, Series 19 | Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (dollars per share)			$ 0.38825

DEBT - Credit Facilities (Detai

DEBT - Credit Facilities (Details) - Committed credit facilities $ in Millions	3 Months Ended
	Mar. 31, 2023 CAD ($)
CREDIT FACILITIES
Total Facilities	$ 22,717
Draws	11,071
Available	$ 11,646
Term out option period	1 year
Enbridge (U.S.) Inc.
CREDIT FACILITIES
Total Facilities	$ 8,594
Draws	1,702
Available	6,892
Enbridge Pipelines Inc.
CREDIT FACILITIES
Total Facilities	2,000
Draws	876
Available	1,124
Enbridge Gas Inc.
CREDIT FACILITIES
Total Facilities	2,500
Draws	1,440
Available	1,060
Enbridge Inc.
CREDIT FACILITIES
Total Facilities	9,623
Draws	7,053
Available	$ 2,570

DEBT - Narrative (Details)

DEBT - Narrative (Details) $ in Millions		3 Months Ended
	Apr. 15, 2023 USD ($)	Mar. 31, 2023 CAD ($)	Feb. 28, 2023 CAD ($)	Dec. 31, 2022 CAD ($)
Line of Credit Facility [Line Items]
Commitment fee percentage		0.10%
Long-term debt		$ 71,740,000,000		$ 72,939,000,000
Long-term debt, fair value adjustment		588,000,000		608,000,000
Amortization of fair value adjustment		11,000,000
Commercial paper and credit facility draws
Line of Credit Facility [Line Items]
Long-term debt		9,000,000,000		10,500,000,000
Fixed-to-floating subordinated term notes | Subordinated term notes
Line of Credit Facility [Line Items]
Subordinated debt		10,300,000,000
Five-year Callable Fixed To Floating Rate Subordinated Notes | Subsequent event | Long-Term Debt
Line of Credit Facility [Line Items]
Long-term debt, amount outstanding	$ 600
Interest rate (as a percent)	6.38%
Revolving credit facility | 364-day extendible credit facility
Line of Credit Facility [Line Items]
Amount of credit facility		2,500,000,000	$ 2,000,000,000
Uncommitted demand credit facilities
Line of Credit Facility [Line Items]
Amount of credit facility		1,300,000,000		1,300,000,000
Unutilized amount of facility		$ 720,000,000		$ 689,000,000

DEBT - Long Term Debt Issuance

DEBT - Long Term Debt Issuance (Details) - Enbridge Inc. $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Debt Instrument [Line Items]
Principal amount of debt	$ 3,000
5.70% sustainability-linked senior notes due March 2033
Debt Instrument [Line Items]
Interest rate (as a percent)	5.70%
Principal amount of debt	$ 2,300
5.70% sustainability-linked senior notes due March 2033 | Debt Instrument Interest Rate Terms Period One
Debt Instrument [Line Items]
Interest rate (as a percent)	35%
5.70% sustainability-linked senior notes due March 2033 | Debt Instrument Interest Rate Terms Period Two
Debt Instrument [Line Items]
Interest rate (as a percent)	5.70%
Spread on variable rate (percent)	0.50%
5.97% senior note due March 2026
Debt Instrument [Line Items]
Interest rate (as a percent)	5.97%
Principal amount of debt	$ 700
Term of fixed rate	3 years
Debt instrument maturity period (in year)	1 year

DEBT - Long Term Debt Repayment

DEBT - Long Term Debt Repayments (Details) $ in Millions, $ in Millions	1 Months Ended			3 Months Ended
	Feb. 28, 2023 USD ($)	Jan. 31, 2023 USD ($)	Jan. 31, 2023 CAD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2023 CAD ($)
Long-Term Debt
DEBT
Principal Amount				$ 513	$ 275
10.00% Senior notes | Tri Global Energy, LLC
DEBT
Interest rate (as a percent)		10%	10%
Principal Amount		$ 4
14.00% Senior notes | Tri Global Energy, LLC
DEBT
Interest rate (as a percent)		14%	14%
Principal Amount		$ 9
Enbridge Inc. | 3.94% medium-term notes
DEBT
Interest rate (as a percent)		3.94%	3.94%
Principal Amount			$ 275
Enbridge Inc. | Floating rate notes
DEBT
Principal Amount	$ 500
Enbridge Inc. | Floating rate notes | London Interbank Offered Rate
DEBT
Spread on variable rate (percent)				0.40%	0.40%

COMPONENTS OF ACCUMULATED OTH_3

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in AOCI
Balance at the beginning of the period	$ 63,398
Other comprehensive income/(loss) retained in AOCI	(125)	$ (175)
Total before tax impact	(121)	(104)
Income tax on amounts retained in AOCI	28	(92)
Income tax on amounts reclassified to earnings	(1)	(16)
Tax impact	27	(108)
Balance at the end of the period	65,025	64,273
Interest rate contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	8	76
Foreign exchange contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings		(4)
Other contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	1	2
Total
Changes in AOCI
Balance at the beginning of the period	3,520	(1,096)
Balance at the end of the period	3,426	(1,308)
Cash Flow Hedges
Changes in AOCI
Balance at the beginning of the period	121	(897)
Other comprehensive income/(loss) retained in AOCI	(90)	384
Total before tax impact	(81)	458
Income tax on amounts retained in AOCI	28	(92)
Income tax on amounts reclassified to earnings	(2)	(17)
Tax impact	26	(109)
Balance at the end of the period	66	(548)
Cash Flow Hedges | Interest rate contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	8	76
Cash Flow Hedges | Foreign exchange contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings		(4)
Cash Flow Hedges | Other contracts
Changes in AOCI
Other comprehensive loss/(income) reclassified to earnings	1	2
Excluded Components of Fair Value Hedges
Changes in AOCI
Balance at the beginning of the period	(35)	0
Other comprehensive income/(loss) retained in AOCI	7	(1)
Total before tax impact	7	(1)
Tax impact	0	0
Balance at the end of the period	(28)	(1)
Net Investment Hedges
Changes in AOCI
Balance at the beginning of the period	(1,137)	(166)
Other comprehensive income/(loss) retained in AOCI	15	133
Total before tax impact	15	133
Income tax on amounts retained in AOCI		0
Tax impact	0	0
Balance at the end of the period	(1,122)	(33)
Cumulative Translation Adjustment
Changes in AOCI
Balance at the beginning of the period	4,348	56
Other comprehensive income/(loss) retained in AOCI	(57)	(691)
Total before tax impact	(57)	(691)
Tax impact	0	0
Balance at the end of the period	4,291	(635)
Equity Investees
Changes in AOCI
Balance at the beginning of the period	5	(5)
Other comprehensive income/(loss) retained in AOCI	0	0
Total before tax impact	0	0
Income tax on amounts retained in AOCI	0	0
Tax impact	0	0
Balance at the end of the period	5	(5)
Pension and OPEB Adjustment
Changes in AOCI
Balance at the beginning of the period	218	(84)
Other comprehensive loss/(income) reclassified to earnings	(5)	(3)
Total before tax impact	(5)	(3)
Income tax on amounts reclassified to earnings	1	1
Tax impact	1	1
Balance at the end of the period	$ 214	$ (86)

RISK MANAGEMENT AND FINANCIAL_3

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Market Risk (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 equity_type	Mar. 08, 2023 USD ($)
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Average swap rate, variable (as a percent)	2.50%
Three-Year Fixed Rate Notes | Notes Payable, Other Payables
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Principal Amount | $		$ 700
Interest rate contracts - short-term borrowings
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Floating rate debt as target percentage of total debt outstanding maximum	30%
Average swap rate (percent)	4.10%
Derivative, fixed interest rate		6%
Equity contracts
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Number of forms of stock-based compensation with equity price risk | equity_type	1

RISK MANAGEMENT AND FINANCIAL_4

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Foreign Exchange Risk (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 CAD ($)
Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Derivatives terminated, realized loss	$ 638

RISK MANAGEMENT AND FINANCIAL_5

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Total Derivative Instruments (Details) - CAD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	$ (561)	$ (546)
Derivative liabilities, Total Net Derivative Instruments	(561)	(546)
Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(944)	(1,476)
Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	274	816
Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	109	114
Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	532	1,015
Derivative assets, Amounts Available for Offset	(142)	(223)
Derivative assets, Total Net Derivative Instruments	390	792
Other current assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	270	366
Other current assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	194	649
Other current assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	68	0
Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	479	627
Derivative assets, Amounts Available for Offset	(181)	(163)
Derivative assets, Total Net Derivative Instruments	298	464
Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	242	216
Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	154	255
Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	83	156
Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(399)	(898)
Derivative liabilities, Amounts Available for Offset	142	223
Derivative liabilities, Total Net Derivative Instruments	(257)	(675)
Other current liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(308)	(808)
Other current liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(49)	(48)
Other current liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(42)	(42)
Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(1,173)	(1,290)
Derivative liabilities, Amounts Available for Offset	181	163
Derivative liabilities, Total Net Derivative Instruments	(992)	(1,127)
Other long-term liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(1,148)	(1,250)
Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(25)	(40)
Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Foreign exchange contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(775)	(1,327)
Derivative liabilities, Total Net Derivative Instruments	(775)	(1,327)
Foreign exchange contracts | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(884)	(1,441)
Foreign exchange contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	0	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Foreign exchange contracts | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	109	$ 114
Foreign exchange contracts | Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	122	46
Derivative assets, Amounts Available for Offset	(13)	(41)
Derivative assets, Total Net Derivative Instruments	109	5
Foreign exchange contracts | Other current assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	54	46
Foreign exchange contracts | Other current assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Foreign exchange contracts | Other current assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	68	0
Foreign exchange contracts | Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	214	309
Derivative assets, Amounts Available for Offset	(108)	(138)
Derivative assets, Total Net Derivative Instruments	106	171
Foreign exchange contracts | Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	131	153
Foreign exchange contracts | Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Foreign exchange contracts | Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	83	156
Foreign exchange contracts | Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(131)	(566)
Derivative liabilities, Amounts Available for Offset	13	41
Derivative liabilities, Total Net Derivative Instruments	(118)	(525)
Foreign exchange contracts | Other current liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(89)	(524)
Foreign exchange contracts | Other current liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Foreign exchange contracts | Other current liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(42)	(42)
Foreign exchange contracts | Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(980)	(1,116)
Derivative liabilities, Amounts Available for Offset	108	138
Derivative liabilities, Total Net Derivative Instruments	(872)	(978)
Foreign exchange contracts | Other long-term liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(980)	(1,116)
Foreign exchange contracts | Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Foreign exchange contracts | Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Interest rate contracts
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities		(4)
Total net financial asset/(liability)	344	910
Derivative liabilities, Total Net Derivative Instruments	344	$ 910
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Interest rate contracts | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities		$ (1)
Total net financial asset/(liability)	19	$ 10
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Interest rate contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities		$ (3)
Total net financial asset/(liability)	325	900
Interest rate contracts | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities		0
Total net financial asset/(liability)	0	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Interest rate contracts | Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	215	$ 660
Derivative assets, Amounts Available for Offset	(11)	0
Derivative assets, Total Net Derivative Instruments	204	660
Interest rate contracts | Other current assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	21	11
Interest rate contracts | Other current assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	194	649
Interest rate contracts | Other current assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Interest rate contracts | Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	198	254
Derivative assets, Amounts Available for Offset	(43)	0
Derivative assets, Total Net Derivative Instruments	155	254
Interest rate contracts | Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	44	0
Interest rate contracts | Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	154	254
Interest rate contracts | Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Interest rate contracts | Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(20)
Derivative liabilities, Amounts Available for Offset	11
Derivative liabilities, Total Net Derivative Instruments	(9)
Interest rate contracts | Other current liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(1)
Interest rate contracts | Other current liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(19)
Interest rate contracts | Other current liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0
Interest rate contracts | Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(49)
Derivative liabilities, Amounts Available for Offset	43	0
Derivative liabilities, Total Net Derivative Instruments	(6)	(4)
Interest rate contracts | Other long-term liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(45)
Interest rate contracts | Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(4)
Interest rate contracts | Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0
Commodity contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(132)	(139)
Derivative liabilities, Total Net Derivative Instruments	(132)	(139)
Commodity contracts | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(81)	(54)
Commodity contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(51)	(85)
Commodity contracts | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	0	0
Commodity contracts | Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	193	302
Derivative assets, Amounts Available for Offset	(118)	(182)
Derivative assets, Total Net Derivative Instruments	75	120
Commodity contracts | Other current assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	193	302
Commodity contracts | Other current assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts | Other current assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts | Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	67	61
Derivative assets, Amounts Available for Offset	(30)	(25)
Derivative assets, Total Net Derivative Instruments	37	36
Commodity contracts | Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	67	61
Commodity contracts | Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts | Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts | Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(248)	(332)
Derivative liabilities, Amounts Available for Offset	118	182
Derivative liabilities, Total Net Derivative Instruments	(130)	(150)
Commodity contracts | Other current liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(218)	(284)
Commodity contracts | Other current liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(30)	(48)
Commodity contracts | Other current liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Commodity contracts | Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(144)	(170)
Derivative liabilities, Amounts Available for Offset	30	25
Derivative liabilities, Total Net Derivative Instruments	(114)	(145)
Commodity contracts | Other long-term liabilities | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(123)	(133)
Commodity contracts | Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(21)	(37)
Commodity contracts | Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Other contracts
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	2
Total net financial asset/(liability)	2	10
Derivative assets, Amounts Available for Offset	0
Derivative assets, Total Net Derivative Instruments	2
Derivative liabilities, Total Net Derivative Instruments	2	10
Other contracts | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	2
Total net financial asset/(liability)	2	9
Other contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0
Total net financial asset/(liability)	0	1
Other contracts | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0
Total net financial asset/(liability)	$ 0	0
Other contracts | Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		7
Derivative assets, Amounts Available for Offset		0
Derivative assets, Total Net Derivative Instruments		7
Other contracts | Other current assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		7
Other contracts | Other current assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		0
Other contracts | Other current assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		0
Other contracts | Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		3
Derivative assets, Amounts Available for Offset		0
Derivative assets, Total Net Derivative Instruments		3
Other contracts | Deferred amounts and other assets | Non-Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		2
Other contracts | Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		1
Other contracts | Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		$ 0

RISK MANAGEMENT AND FINANCIAL_6

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Notional Principal or Quantity Information (Details) - Mar. 31, 2023 € in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions	USD ($)	GBP (£)	EUR (€)	JPY (¥)	CAD ($)	Bcf	MMBbls	MWh
Foreign exchange contracts - forwards - purchase
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Derivative Notional Amount Outstanding	$ 2,332			¥ 84,800
Foreign exchange contracts - forwards - purchase | United States dollar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023	832
2024	1,000
2025	500
2026	0
2027	0
Thereafter	0
Foreign exchange contracts - forwards - purchase | Japanese yen
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023 | ¥				0
2024 | ¥				0
2025 | ¥				84,800
2026 | ¥				0
2027 | ¥				0
Thereafter | ¥				¥ 0
Foreign exchange contracts - forwards - sell
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Derivative Notional Amount Outstanding	22,891	£ 141	€ 674
Foreign exchange contracts - forwards - sell | United States dollar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023	4,566
2024	4,708
2025	4,763
2026	4,157
2027	2,969
Thereafter	$ 1,728
Foreign exchange contracts - forwards - sell | GBP
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023 | £		21
2024 | £		30
2025 | £		30
2026 | £		28
2027 | £		32
Thereafter | £		£ 0
Foreign exchange contracts - forwards - sell | Euro
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023 | €			69
2024 | €			91
2025 | €			86
2026 | €			85
2027 | €			81
Thereafter | €			€ 262
Interest rate contracts - short-term borrowings
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023					$ 7,821
2024					1,929
2025					80
2026					26
2027					25
Thereafter					39
Derivative Notional Amount Outstanding					9,920
Interest rate contracts - short-term debt receive
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023					711
2024					947
2025					947
2026					179
2027					0
Thereafter					0
Derivative Notional Amount Outstanding					2,784
Interest rate contracts - long-term debt pay fixed rate
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023					4,153
2024					1,494
2025					588
2026					0
2027					0
Thereafter					0
Derivative Notional Amount Outstanding					6,235
Equity contracts
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023					0
2024					32
2025					12
2026					0
2027					0
Thereafter					0
Derivative Notional Amount Outstanding					$ 44
Commodity contracts
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Derivative Nonmonetary Notional Amount Outstanding						93,000,000	11,000,000
Commodity contracts | Natural gas
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023 (bcf / mmbbls) | Bcf						34,000,000
2024 (bcf / mmbbls) | Bcf						25,000,000
2025 (bcf / mmbbls) | Bcf						23,000,000
2026 (bcf / mmbbls) | Bcf						8,000,000
2027 (bcf / mmbbls) | Bcf						3,000,000
Thereafter (bcf / mmbbls) | Bcf						0
Commodity contracts | Crude
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023 (bcf / mmbbls) | MMBbls							11,000,000
2024 (bcf / mmbbls) | MMBbls							0
2025 (bcf / mmbbls) | MMBbls							0
2026 (bcf / mmbbls) | MMBbls							0
2027 (bcf / mmbbls) | MMBbls							0
Thereafter (bcf / mmbbls) | MMBbls							0
Net sell | Commodity contracts | Power
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2023 (MWH) | MWh								19,000,000
2024 (MWH) | MWh								(31,000,000)
2025 (MWH) | MWh								(46,000,000)
2026 (MWH) | MWh								0
2027 (MWH) | MWh								0
Thereafter (MWH) | MWh								0
Total (MWH) | MWh								(17)

RISK MANAGEMENT AND FINANCIAL_7

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Fair Value Derivatives (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Foreign Currency Fair Value Hedge Derivative [Line Items]
Realized loss on derivative	$ (55)	$ 94
Fair value hedges | Interest rate contracts
Foreign Currency Fair Value Hedge Derivative [Line Items]
Unrealized gain/(loss) on derivative	(11)	76
Unrealized gain/(loss) on hedged item	11	(87)
Realized loss on derivative	(11)	(75)
Realized gain on hedged item	$ 0	$ 85

RISK MANAGEMENT AND FINANCIAL_8

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Earnings and Comprehensive Income (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	$ (66)	$ 385
Amount of loss reclassified from AOCI to earnings	9	91
Estimated gain (loss) of AOCI related to cash flow hedges reclassified to earnings in the next 12 months	$ 20
Maximum term of hedging exposures to variability of cash flows	33 months
Unrealized gain (loss) on derivatives	$ 520	369
Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	520	369
Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	0	13
Foreign exchange contracts | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	556	433
Foreign exchange contracts | Gas distribution sales revenues | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	(645)	134
Foreign exchange contracts | Other income/(expense) | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	(89)	(299)
Interest rate contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	8	76
Interest rate contracts | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	10	0
Commodity contracts | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	(39)	(68)
Commodity contracts | Gas distribution sales revenues | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	6	(16)
Commodity contracts | Commodity sales | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	69	(16)
Commodity contracts | Commodity costs | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	(75)	(37)
Commodity contracts | Operating and administrative expense | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	39	1
Other contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	1	2
Other contracts | Non-Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Unrealized gain (loss) on derivatives	(7)	4
Cash flow hedges | Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	0	2
Cash flow hedges | Interest rate contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	(105)	377
Cash flow hedges | Commodity contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	34	4
Cash flow hedges | Other contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	(2)	3
Fair value hedges | Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	$ 7	$ (1)

RISK MANAGEMENT AND FINANCIAL_9

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Liquidity and Credit Risk (Details) - CAD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Dec. 31, 2022
LIQUIDITY RISK AND CREDIT RISK
Rolling time period over which the Company forecasts cash requirements	12 months
Period of anticipated requirements for which the Company maintains sufficient liquidity through committed credit facilities	1 year
Derivative instruments
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	$ 949,000,000	$ 1,584,000,000
Cash collateral on asset exposure	0		$ 0
Derivative instruments | Canadian financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	471,000,000	644,000,000
Derivative instruments | US financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	115,000,000	277,000,000
Derivative instruments | European financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	178,000,000	334,000,000
Derivative instruments | Asian financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	97,000,000	224,000,000
Derivative instruments | Other
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	$ 88,000,000	$ 105,000,000

RISK MANAGEMENT AND FINANCIA_10

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - CAD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value of Derivatives
Total net financial asset/(liability)	$ (561)	$ (546)
Fair Value
Fair Value of Derivatives
Current derivative assets	532	1,015
Long-term derivative assets	479	627
Current derivative liabilities	(399)	(898)
Long-term derivative liabilities	(1,173)	(1,290)
Total net financial asset/(liability)	(561)	(546)
Foreign exchange contracts
Fair Value of Derivatives
Total net financial asset/(liability)	(775)	(1,327)
Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	122	46
Long-term derivative assets	214	309
Current derivative liabilities	(131)	(566)
Long-term derivative liabilities	(980)	(1,116)
Total net financial asset/(liability)	(775)	(1,327)
Interest rate contracts
Fair Value of Derivatives
Total net financial asset/(liability)	344	910
Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	215	660
Long-term derivative assets	198	254
Current derivative liabilities	(20)
Long-term derivative liabilities	(49)	(4)
Total net financial asset/(liability)	344	910
Commodity contracts
Fair Value of Derivatives
Total net financial asset/(liability)	(132)	(139)
Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	193	302
Long-term derivative assets	67	61
Current derivative liabilities	(248)	(332)
Long-term derivative liabilities	(144)	(170)
Total net financial asset/(liability)	(132)	(139)
Other contracts
Fair Value of Derivatives
Total net financial asset/(liability)	2	10
Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	2	7
Long-term derivative assets		3
Total net financial asset/(liability)	2	10
Level 1 | Fair Value
Fair Value of Derivatives
Current derivative assets	46	65
Long-term derivative assets	0	0
Current derivative liabilities	(36)	(60)
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	10	5
Level 1 | Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Level 1 | Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Level 1 | Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	46	65
Long-term derivative assets	0	0
Current derivative liabilities	(36)	(60)
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	10	5
Level 1 | Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets		0
Total net financial asset/(liability)	0	0
Level 2 | Fair Value
Fair Value of Derivatives
Current derivative assets	402	803
Long-term derivative assets	429	583
Current derivative liabilities	(199)	(643)
Long-term derivative liabilities	(1,055)	(1,158)
Total net financial asset/(liability)	(423)	(415)
Level 2 | Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	122	46
Long-term derivative assets	214	309
Current derivative liabilities	(131)	(566)
Long-term derivative liabilities	(980)	(1,116)
Total net financial asset/(liability)	(775)	(1,327)
Level 2 | Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	215	660
Long-term derivative assets	198	254
Current derivative liabilities	(20)
Long-term derivative liabilities	(49)	(4)
Total net financial asset/(liability)	344	910
Level 2 | Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	63	90
Long-term derivative assets	17	17
Current derivative liabilities	(48)	(77)
Long-term derivative liabilities	(26)	(38)
Total net financial asset/(liability)	6	(8)
Level 2 | Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	2	7
Long-term derivative assets		3
Total net financial asset/(liability)	2	10
Level 3
Fair Value of Derivatives
Total net financial asset/(liability)	(148)
Level 3 | Fair Value
Fair Value of Derivatives
Current derivative assets	84	147
Long-term derivative assets	50	44
Current derivative liabilities	(164)	(195)
Long-term derivative liabilities	(118)	(132)
Total net financial asset/(liability)	(148)	(136)
Level 3 | Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Level 3 | Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Level 3 | Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	84	147
Long-term derivative assets	50	44
Current derivative liabilities	(164)	(195)
Long-term derivative liabilities	(118)	(132)
Total net financial asset/(liability)	(148)	(136)
Level 3 | Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets		0
Total net financial asset/(liability)	$ 0	$ 0

RISK MANAGEMENT AND FINANCIA_11

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Level 3 Inputs (Details) $ in Millions	Mar. 31, 2023 CAD ($) $ / MWh $ / bbl $ / MillionsofBTU-MMBTU	Dec. 31, 2022 CAD ($)
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (561)	$ (546)
Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(561)	(546)
Level 3
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(148)
Level 3 | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(148)	$ (136)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (34)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	2.30
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	10.29
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	4.60
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (12)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	72.61
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	104.87
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	92.25
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (92)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MWh	25.07
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MWh	214.37
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MWh	70.68
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (34)
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	0.60
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	8.14
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MillionsofBTU-MMBTU	3.51
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (9)
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	74.97
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	116.60
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / bbl	91.05
Market approach valuation technique | Level 3 | Commodity contracts - physical | Power | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ 33
Market approach valuation technique | Level 3 | Commodity contracts - physical | Power | Minimum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MWh	13.30
Market approach valuation technique | Level 3 | Commodity contracts - physical | Power | Maximum
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MWh	107.36
Market approach valuation technique | Level 3 | Commodity contracts - physical | Power | Weighted Average
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) | $ / MWh	55.46

RISK MANAGEMENT AND FINANCIA_12

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Changes in Level 3 (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in net fair value of derivative assets and liabilities classified as Level 3
Level 3 net derivative liability at beginning of period	$ (136)	$ (108)
Total gain/(loss)
Included in earnings	(44)	(52)
Included in OCI	33	4
Settlements	(1)	(24)
Level 3 net derivative liability at end of period	$ (148)	$ (180)

RISK MANAGEMENT AND FINANCIA_13

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Other Financial Instruments (Details) - CAD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value of Other Financial Instruments
Unrealized gain or losses on the change in fair value of foreign exchange foreign contracts	$ 0	$ 0
Realized gain (loss) recognized in OCI associated with settlement of foreign exchange forward contracts	0	0
FMVA investments	209,000		$ 102,000
Restricted long-term investments	646,000		593,000
Long-term debt, carrying value	79,500,000		79,300,000
Long-term debt	74,900,000		73,500,000
Debt Securities
Fair Value of Other Financial Instruments
Debt securities, available-for-sale, amortized cost	303,000		295,000
Equity Funds And Debt Securities
Fair Value of Other Financial Instruments
Unrealized gain (loss) on lnvestments	15,000	(8,000)
Net investment hedges
Fair Value of Other Financial Instruments
Unrealized foreign exchange gain (loss) on translation of United States dollar denominated debt	59,000	133,000
Realized loss associated with the settlement of foreign exchange forward contracts	44,000	0
Level 1
Fair Value of Other Financial Instruments
Restricted long-term investments	249,000		236,000
Level 1 | Debt Securities
Fair Value of Other Financial Instruments
Fair value of investments	351,000		335,000
Level 2
Fair Value of Other Financial Instruments
Restricted long-term investments	397,000		357,000
Restricted long-term investments, cost basis	451,000		437,000
Level 2 | Debt Securities
Fair Value of Other Financial Instruments
Fair value of investments	309,000		298,000
Fair Value
Fair Value of Other Financial Instruments
Restricted long-term investments	646,000		593,000
Unrealized holding gains (losses)	34,000	$ (60,000)
Fair value note receivable	691,000		752,000
Carrying value
Fair Value of Other Financial Instruments
Non-current notes receivable	$ 691,000		$ 752,000

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	21.50%	22.40%

OTHER INCOME (Details)

OTHER INCOME (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income and Expenses [Abstract]
Gain/(loss) on dispositions	$ 3	$ (2)
Realized foreign currency gain	145	2
Unrealized foreign currency gain/(loss)	(188)	367
Net defined pension and OPEB credit	33	58
Other	109	33
Total	$ 102	$ 458

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) $ in Millions	Apr. 03, 2023 USD ($)
Subsequent event | Tres Palacios Holdings LLC
Subsequent Event [Line Items]
Cash	$ 335