Enbridge (ENB) 10-Q 1 Nov 24 2024 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2024	Oct. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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		2,177,956,195
Entity Central Index Key	0000895728
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Total operating revenues (Note 3)	$ 14,882	$ 9,844	$ 37,256	$ 32,351
Operating expenses
Operating and administrative	2,281	2,055	6,723	6,120
Depreciation and amortization	1,317	1,164	3,783	3,447
Total operating expenses	12,664	8,050	30,054	25,545
Operating income	2,218	1,794	7,202	6,806
Income from equity investments	479	343	1,664	1,338
Gain on disposition of equity investments (Note 6)	0	0	1,091	0
Other income / (expense)	376	(465)	(206)	212
Interest expense	(1,314)	(921)	(3,301)	(2,709)
Earnings before income taxes	1,759	751	6,450	5,647
Income tax expense	(312)	(128)	(1,437)	(1,157)
Earnings	1,447	623	5,013	4,490
Earnings attributable to noncontrolling interests	(56)	(2)	(167)	(117)
Earnings attributable to controlling interests	1,391	621	4,846	4,373
Preference share dividends	(98)	(89)	(286)	(260)
Earnings attributable to common shareholders	$ 1,293	$ 532	$ 4,560	$ 4,113
Earnings per common share attributable to common shareholders (in Canadian dollars per share)	$ 0.59	$ 0.26	$ 2.12	$ 2.02
Diluted earnings per common share attributable to common shareholders (in Canadian dollars per share)	$ 0.59	$ 0.26	$ 2.12	$ 2.02
Commodity sales
Operating revenues
Total operating revenues (Note 3)	$ 8,986	$ 4,652	$ 18,422	$ 14,114
Operating expenses
Commodity costs and Gas distribution costs	8,865	4,648	18,044	13,833
Gas distribution sales
Operating revenues
Total operating revenues (Note 3)	702	516	3,181	3,587
Operating expenses
Commodity costs and Gas distribution costs	201	183	1,504	2,145
Transportation and other services
Operating revenues
Total operating revenues (Note 3)	$ 5,194	$ 4,676	$ 15,653	$ 14,650

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Earnings	$ 1,447	$ 623	$ 5,013	$ 4,490
Other comprehensive income/(loss), net of tax
Change in unrealized gain/(loss) on cash flow hedges	(107)	238	21	359
Change in unrealized gain/(loss) on net investment hedges	181	(358)	(357)	42
Other comprehensive income from equity investees	2	7	3	7
Excluded components of fair value hedges	3	2	7	11
Reclassification to earnings of loss on cash flow hedges	9	39	18	58
Reclassification to earnings of pension and other postretirement benefits (OPEB) amounts	(2)	(5)	(11)	(13)
Foreign currency translation adjustments	(858)	1,386	1,527	(131)
Other comprehensive income/(loss), net of tax	(772)	1,309	1,208	333
Comprehensive income	675	1,932	6,221	4,823
Comprehensive income attributable to noncontrolling interests	(46)	(45)	(206)	(143)
Comprehensive income attributable to controlling interests	629	1,887	6,015	4,680
Preference share dividends	(98)	(89)	(286)	(260)
Comprehensive income attributable to common shareholders	$ 531	$ 1,798	$ 5,729	$ 4,420

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CAD ($) $ in Millions	Total	Total Enbridge Inc. shareholders’ equity	Preference shares	Common shares	Additional paid-in capital	Deficit	Accumulated other comprehensive income (Note 9)	Noncontrolling interests
Balance at the beginning of the period at Dec. 31, 2022			$ 6,818	$ 64,760	$ 275	$ (15,486)	$ 3,520	$ 3,511
Increase (Decrease) in Stockholders' Equity
Shares issued, net of issue costs (Note 8)				4,485
Shares issued on exercise of stock options				3	(3)
Shares issued on vesting of restricted stock units (RSU), net of tax				12	(20)
Purchase of noncontrolling interests					(29)			2
Share repurchases at stated value				(80)
Stock-based compensation					53
Earnings attributable to controlling interests	$ 4,373					4,373
Preference share dividends						(260)
Common share dividends declared						(3,591)
Share repurchases in excess of stated value						(45)
Other comprehensive income/(loss) attributable to common shareholders, net of tax							307
Earnings attributable to noncontrolling interests								117
Change in unrealized gain on cash flow hedges								29
Foreign currency translation adjustments								(3)
Other comprehensive income/(loss) attributable to noncontrolling interests, net of tax								26
Comprehensive income attributable to noncontrolling interests	(143)							143
Distributions								(281)
Contributions								10
Other								(3)
Balance at the end of the period at Sep. 30, 2023	$ 68,474	$ 65,092	6,818	69,180	276	(15,009)	3,827	3,382
Increase (Decrease) in Stockholders' Equity
Dividends paid per common share (in CAD per share)	$ 2,670,000
Balance at the beginning of the period at Jun. 30, 2023			6,818	64,694	291	(13,746)	2,561	3,420
Increase (Decrease) in Stockholders' Equity
Shares issued, net of issue costs (Note 8)				4,485
Shares issued on exercise of stock options				1	(1)
Shares issued on vesting of restricted stock units (RSU), net of tax				0	(20)
Purchase of noncontrolling interests					(29)			2
Share repurchases at stated value				0
Stock-based compensation					35
Earnings attributable to controlling interests	$ 621					621
Preference share dividends						(89)
Common share dividends declared						(1,795)
Share repurchases in excess of stated value						0
Other comprehensive income/(loss) attributable to common shareholders, net of tax							1,266
Earnings attributable to noncontrolling interests								2
Change in unrealized gain on cash flow hedges								11
Foreign currency translation adjustments								32
Other comprehensive income/(loss) attributable to noncontrolling interests, net of tax								43
Comprehensive income attributable to noncontrolling interests	(45)							45
Distributions								(86)
Contributions								2
Other								(1)
Balance at the end of the period at Sep. 30, 2023	$ 68,474	65,092	6,818	69,180	276	(15,009)	3,827	3,382
Increase (Decrease) in Stockholders' Equity
Dividends paid per common share (in CAD per share)	$ 890,000
Balance at the beginning of the period at Dec. 31, 2023	$ 64,483		6,818	69,180	268	(17,115)	2,303	3,029
Increase (Decrease) in Stockholders' Equity
Shares issued, net of issue costs (Note 8)				2,489
Shares issued on exercise of stock options				14	(14)
Shares issued on vesting of restricted stock units (RSU), net of tax				24	(42)
Purchase of noncontrolling interests					0			(2)
Share repurchases at stated value				0
Stock-based compensation					74
Earnings attributable to controlling interests	4,846					4,846
Preference share dividends						(286)
Common share dividends declared						(3,940)
Share repurchases in excess of stated value						0
Other comprehensive income/(loss) attributable to common shareholders, net of tax							1,169
Earnings attributable to noncontrolling interests								167
Change in unrealized gain on cash flow hedges								10
Foreign currency translation adjustments								29
Other comprehensive income/(loss) attributable to noncontrolling interests, net of tax								39
Comprehensive income attributable to noncontrolling interests	(206)							206
Distributions								(246)
Contributions								4
Other								(1)
Balance at the end of the period at Sep. 30, 2024	$ 68,778	65,788	6,818	71,707	286	(16,495)	3,472	2,990
Increase (Decrease) in Stockholders' Equity
Dividends paid per common share (in CAD per share)	$ 2,760,000
Balance at the beginning of the period at Jun. 30, 2024			6,818	71,698	272	(15,794)	4,234	3,025
Increase (Decrease) in Stockholders' Equity
Shares issued, net of issue costs (Note 8)				0
Shares issued on exercise of stock options				9	(9)
Shares issued on vesting of restricted stock units (RSU), net of tax				0	2
Purchase of noncontrolling interests					0			(2)
Share repurchases at stated value				0
Stock-based compensation					21
Earnings attributable to controlling interests	$ 1,391					1,391
Preference share dividends						(98)
Common share dividends declared						(1,994)
Share repurchases in excess of stated value						0
Other comprehensive income/(loss) attributable to common shareholders, net of tax							(762)
Earnings attributable to noncontrolling interests								56
Change in unrealized gain on cash flow hedges								2
Foreign currency translation adjustments								(12)
Other comprehensive income/(loss) attributable to noncontrolling interests, net of tax								(10)
Comprehensive income attributable to noncontrolling interests	(46)							46
Distributions								(79)
Contributions								2
Other								(2)
Balance at the end of the period at Sep. 30, 2024	$ 68,778	$ 65,788	$ 6,818	$ 71,707	$ 286	$ (16,495)	$ 3,472	$ 2,990
Increase (Decrease) in Stockholders' Equity
Dividends paid per common share (in CAD per share)	$ 920,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($) $ in Millions		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Operating activities
Earnings		$ 5,013	$ 4,490
Adjustments to reconcile earnings to net cash provided by operating activities:
Depreciation and amortization		3,783	3,447
Deferred income tax expense		743	923
Unrealized derivative fair value loss/(gain), net (Note 10)		809	(270)
Income from equity investments		(1,664)	(1,338)
Distributions from equity investments		1,499	1,539
Gain on disposition of equity investments		(1,091)	0
Other		198	137
Changes in operating assets and liabilities		(352)	1,461
Net cash provided by operating activities		8,938	10,389
Investing activities
Capital expenditures		(4,165)	(3,284)
Long-term, restricted and other investments		(1,851)	(487)
Distributions from equity investments in excess of cumulative earnings		646	865
Additions to intangible assets		(157)	(165)
Acquisitions		(13,065)	(487)
Proceeds from disposition of equity investments		2,724	0
Net change in affiliate loans		2	86
Other		(49)	(31)
Net cash used in investing activities		(15,915)	(3,503)
Financing activities
Net change in short-term borrowings		528	(412)
Net change in commercial paper and credit facility draws		3,276	(9,855)
Debenture and term note issues, net of issue costs		8,614	9,611
Debenture and term note repayments		(5,615)	(2,881)
Contributions from noncontrolling interests		4	10
Distributions to noncontrolling interests		(246)	(281)
Common shares issued, net of issue costs		2,485	4,450
Common shares repurchased		0	(125)
Preference share dividends		(286)	(260)
Common share dividends		(5,885)	(5,390)
Net change in affiliate loans		99	69
Other		(31)	(82)
Net cash provided by/(used in) financing activities		2,943	(5,146)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash		151	0
Net change in cash and cash equivalents and restricted cash		(3,883)	1,740
Cash and cash equivalents and restricted cash at beginning of period		5,985	907
Cash and cash equivalents and restricted cash at end of period	[1]	$ 2,102	$ 2,647
[1]As at September 30, 2024, long-term restricted cash of $94 million (2023 - nil) was included in Restricted long-term investments and cash in the Consolidated Statements of Financial Position.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - CAD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Long-term restricted cash	$ 94	$ 0

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CAD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 1,875	$ 5,901
Restricted cash	133	84
Trade receivables and unbilled revenues	5,559	4,410
Other current assets	2,611	2,440
Inventory	1,608	1,479
Current assets	11,895	14,399
Property, plant and equipment, net	124,429	104,641
Long-term investments	18,295	16,793
Restricted long-term investments and cash	959	717
Deferred amounts and other assets	10,440	8,041
Intangible assets, net	4,403	3,537
Goodwill	34,858	31,848
Deferred income taxes	494	341
Total assets	205,773	180,317
Current liabilities
Short-term borrowings	928	400
Trade payables and accrued liabilities	6,024	4,308
Other current liabilities	3,869	5,659
Interest payable	1,156	958
Current portion of long-term debt	7,053	6,084
Current liabilities	19,050	17,435
Long-term debt	87,320	74,715
Other long-term liabilities	12,254	8,653
Deferred income taxes	18,371	15,031
Total liabilities	136,995	115,834
Contingencies (Note 13)
Share capital
Preference shares	6,818	6,818
Common shares (2,178 and 2,125 outstanding at September 30, 2024 and December 31, 2023, respectively)	71,707	69,180
Additional paid-in capital	286	268
Deficit	(16,495)	(17,115)
Accumulated other comprehensive income (Note 9)	3,472	2,303
Total Enbridge Inc. shareholders’ equity	65,788	61,454
Noncontrolling interests	2,990	3,029
Equity	68,778	64,483
Total liabilities and equity	205,773	180,317
Related Party
Current assets
Accounts receivable from affiliates	109	85
Current liabilities
Accounts payable to affiliates	$ 20	$ 26

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - shares shares in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common shares, outstanding (in shares)	2,178	2,125

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
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, 2023. 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, 2023. 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. Our current year earnings are also impacted by the effect of acquisitions and dispositions, if any, occurring during the remaining three months period ending December 31, 2023. Certain comparative figures in our interim consolidated financial statements have been reclassified to conform to the current year's presentation.

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
CHANGES IN ACCOUNTING POLICIES	CHANGES IN ACCOUNTING POLICIES FUTURE ACCOUNTING POLICY CHANGES Segment Reporting Accounting Standards Update (ASU) 2023-07 was issued in November 2023 to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses and to require in interim period financial statements all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The new ASU requires entities to disclose the title and position of the individual or the name of the group or committee identified as the chief operating decision maker (CODM). ASU 2023-07 is effective January 1, 2024, with interim period disclosure requirements effective after January 1, 2025 and should be applied retrospectively to all prior periods presented in the financial statements. We are currently assessing the impact of the new standard on our annual disclosures for the year ending December 31, 2024 and on our interim disclosures beginning in 2025. Income Tax Disclosures ASU 2023-09 was issued in December 2023 to improve income tax disclosures by requiring specified categories in the annual rate reconciliation that meet quantitative thresholds and further disaggregation on income taxes paid by jurisdiction. ASU 2023-09 is effective January 1, 2025 and should be applied prospectively, with retrospective application being permitted. We are currently assessing the impact of the new standard on our consolidated financial statements.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE REVENUE FROM CONTRACTS WITH CUSTOMERS Major Products and Services Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other Consolidated (millions of Canadian dollars) Transportation revenue 2,906 1,264 447 — — 4,617 Storage and other revenue 65 143 125 — — 333 Gas distribution revenue — — 710 — — 710 Electricity revenue — — — 36 — 36 Commodity sales — 37 — — — 37 Total revenue from contracts with customers 2,971 1,444 1,282 36 — 5,733 Commodity sales 8,725 10 — — 214 8,949 Other revenue 1,2 79 27 (2) 96 — 200 Intersegment revenue — 5 1 1 (7) — Total revenue 11,775 1,486 1,281 133 207 14,882 Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other Consolidated (millions of Canadian dollars) Transportation revenue 2,856 1,294 148 — — 4,298 Storage and other revenue 65 118 83 — — 266 Gas distribution revenue — — 528 — — 528 Electricity revenue — — — 79 — 79 Total revenue from contracts with customers 2,921 1,412 759 79 — 5,171 Commodity sales 4,373 — — — 279 4,652 Other revenue 1,2 61 11 (9) (42) — 21 Intersegment revenue — — 1 3 (4) — Total revenue 7,355 1,423 751 40 275 9,844 Nine months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other Consolidated (millions of Canadian dollars) Transportation revenue 8,916 3,895 1,267 — — 14,078 Storage and other revenue 192 416 351 — — 959 Gas distribution revenue — — 3,149 — — 3,149 Electricity revenue — — — 137 — 137 Commodity sales — 115 — — — 115 Total revenue from contracts with customers 9,108 4,426 4,767 137 — 18,438 Commodity sales 17,494 62 — — 751 18,307 Other revenue 1,2 213 46 24 228 — 511 Intersegment revenue — 16 5 5 (26) — Total revenue 26,815 4,550 4,796 370 725 37,256 Nine months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other Consolidated (millions of Canadian dollars) Transportation revenue 8,800 3,968 593 — — 13,361 Storage and other revenue 191 326 267 — — 784 Gas distribution revenue — — 3,611 — — 3,611 Electricity revenue — — — 220 — 220 Total revenue from contracts with customers 8,991 4,294 4,471 220 — 17,976 Commodity sales 13,039 — — — 1,075 14,114 Other revenue 1,2 170 29 (50) 112 — 261 Intersegment revenue — 1 5 2 (8) — Total revenue 22,200 4,324 4,426 334 1,067 32,351 1 Includes realized and unrealized gains and losses from our hedging program which for the three months ended September 30, 2024 were a net $54 million gain (2023 - $97 million loss) and for the nine months ended September 30, 2024 were a net $15 million gain (2023 - $149 million loss). 2 Includes revenues from lease contracts for the three months ended September 30, 2024 and 2023 of $125 million and $107 million, respectively, and for the nine months ended September 30, 2024 and 2023 of $407 million and $387 million, respectively. We disaggregate revenues 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 September 30, 2024 2,563 325 2,738 Balance as at December 31, 2023 2,802 400 2,591 Contract receivables represent the amount of receivables derived from contracts with customers. Contract assets represent the amount of revenues 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 payment is unconditional. Amounts included in contract assets are transferred to accounts receivable when our right to receive 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 revenues. Revenue recognized during the three and nine months ended September 30, 2024 included in contract liabilities at the beginning of the period were $62 million and $295 million, respectively. Increases in contract liabilities from cash received, net of amounts recognized as revenues, during the three and nine months ended September 30, 2024 were $201 million and $467 million, respectively. Performance Obligations There were no material revenues recognized in the three and nine months ended September 30, 2024 from performance obligations satisfied in previous periods. Revenues to be Recognized from Unfulfilled Performance Obligations Total revenues from performance obligations expected to be fulfilled in future periods is $57.7 billion, of which $2.1 billion and $8.4 billion are expected to be recognized during the remaining three months ending December 31, 2024 and the year ending December 31, 2025, 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 revenues 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. Mainline Tolling Agreement On March 4, 2024, the Canada Energy Regulator (CER) approved the negotiated Mainline tolling settlement. The new tolls are finalized and were in effect on an interim basis on July 1, 2023, and the overall agreement is retroactively effective as of July 1, 2021 through to the end of 2028. Recognition and Measurement of Revenues Three months ended September 30, 2024 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — 37 31 — 68 Revenues from products and services transferred over time 1 2,971 1,407 1,251 36 5,665 Total revenue from contracts with customers 2,971 1,444 1,282 36 5,733 Three months ended September 30, 2023 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — — 38 — 38 Revenues from products and services transferred over time 1 2,921 1,412 721 79 5,133 Total revenue from contracts with customers 2,921 1,412 759 79 5,171 Nine months ended September 30, 2024 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — 115 93 — 208 Revenues from products and services transferred over time 1 9,108 4,311 4,674 137 18,230 Total revenue from contracts with customers 9,108 4,426 4,767 137 18,438 Nine months ended September 30, 2023 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — — 105 — 105 Revenues from products and services transferred over time 1 8,991 4,294 4,366 220 17,871 Total revenue from contracts with customers 8,991 4,294 4,471 220 17,976 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	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENTED INFORMATION	SEGMENTED INFORMATION Change in Reportable Segments Effective January 1, 2024, to better align how the CODM reviews operating performance and resource allocation across operating segments, we transferred our Canadian and United States (US) crude oil marketing businesses from the Energy Services segment to the Liquids Pipelines segment. As a result, the Energy Services segment ceased to exist and the remainder of the business, comprising natural gas and power marketing, is now reported in the Eliminations and Other segment. Beginning in the first quarter of 2024, prior period comparable results for segmented information have been recast to reflect the change in reportable segments. This segment reporting change does not have an impact on our consolidated results. Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 11,775 1,486 1,281 133 207 14,882 Commodity and gas distribution costs (8,624) (29) (203) 2 (212) (9,066) Operating and administrative (1,104) (536) (579) (74) 12 (2,281) Income/(loss) from equity investments 261 182 — 39 (3) 479 Other income (Note 12) 17 43 23 2 291 376 Earnings before interest, income taxes and depreciation and amortization 2,325 1,146 522 102 295 4,390 Depreciation and amortization (1,317) Interest expense (1,314) Income tax expense (312) Earnings 1,447 Capital expenditures 2 268 609 675 92 8 1,652 Three months ended September 30, 2023 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 7,355 1,423 751 40 275 9,844 Commodity and gas distribution costs (4,344) 1 (190) (13) (285) (4,831) Operating and administrative (1,093) (578) (305) (63) (16) (2,055) Income/(loss) from equity investments 232 94 — 21 (4) 343 Other income/(expense) (Note 12) 14 33 15 45 (572) (465) Earnings/(loss) before interest, income taxes and depreciation and amortization 2,164 973 271 30 (602) 2,836 Depreciation and amortization (1,164) Interest expense (921) Income tax expense (128) Earnings 623 Capital expenditures 2 318 462 415 9 2 1,206 Nine months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 26,815 4,550 4,796 370 725 37,256 Commodity and gas distribution costs (17,168) (117) (1,519) 1 (745) (19,548) Operating and administrative (3,311) (1,701) (1,486) (214) (11) (6,723) Income/(loss) from equity investments 798 611 1 265 (11) 1,664 Gain on disposition of equity investments (Note 6) — 1,063 — 28 — 1,091 Other income/(expense) (Note 12) 45 100 62 47 (460) (206) Earnings/(loss) before interest, income taxes and depreciation and amortization 7,179 4,506 1,854 497 (502) 13,534 Depreciation and amortization (3,783) Interest expense (3,301) Income tax expense (1,437) Earnings 5,013 Capital expenditures 2 766 1,770 1,412 209 59 4,216 Nine months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 22,200 4,324 4,426 334 1,067 32,351 Commodity and gas distribution costs (12,771) 1 (2,173) (19) (1,016) (15,978) Operating and administrative (3,320) (1,715) (939) (178) 32 (6,120) Income/(loss) from equity investments 733 531 1 83 (10) 1,338 Other income/(expense) (Note 12) 102 79 39 75 (83) 212 Earnings/(loss) before interest, income taxes and depreciation and amortization 6,944 3,220 1,354 295 (10) 11,803 Depreciation and amortization (3,447) Interest expense (2,709) Income tax expense (1,157) Earnings 4,490 Capital expenditures 2 835 1,332 1,025 77 54 3,323 1 Includes operating revenues and commodity costs from our natural gas and power marketing subsidiaries for the three months ended September 30, 2024 of $213 million (2023 - $279 million) and $213 million (2023 - $292 million), respectively, and for the nine months ended September 30, 2024 of $750 million (2023 - $1.1 billion) and $757 million (2023 - $1.0 billion), respectively. 2 Includes the equity component of the allowance for funds used during construction.

EARNINGS PER COMMON SHARE AND D

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE	9 Months Ended
	Sep. 30, 2024
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 share-settled RSUs. This method assumes any proceeds from the exercise of stock options and vesting of share-settled 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 common share are as follows: Three months ended Nine months ended 2024 2023 2024 2023 (number of shares in millions) Weighted average shares outstanding 2,177 2,048 2,147 2,033 Effect of dilutive options and RSUs 3 1 3 2 Diluted weighted average shares outstanding 2,180 2,049 2,150 2,035 For the three months ended September 30, 2024 and 2023, 15.2 million and 21.6 million, respectively, of anti-dilutive stock options with a weighted average exercise price of $55.56 and $53.69, respectively, were excluded from the diluted earnings per common share calculation. For the nine months ended September 30, 2024 and 2023, 18.7 million and 18.2 million, respectively, of anti-dilutive stock options with a weighted average exercise price of $54.18 and $54.81, respectively, were excluded from the diluted earnings per common share calculation. DIVIDENDS PER SHARE On October 29, 2024, our Board of Directors declared the following quarterly dividends. All dividends are payable on December 1, 2024 to shareholders of record on November 15, 2024. Dividend per share Common Shares $0.91500 Preference Shares, Series A $0.34375 Preference Shares, Series B $0.32513 Preference Shares, Series D $0.33825 Preference Shares, Series F $0.34613 Preference Shares, Series G 1 $0.43014 Preference Shares, Series H $0.38200 Preference Shares, Series I 2 $0.40589 Preference Shares, Series L US$0.36612 Preference Shares, Series N $0.41850 Preference Shares, Series P $0.36988 Preference Shares, Series R $0.39463 Preference Shares, Series 1 US$0.41898 Preference Shares, Series 3 3 $0.33050 Preference Shares, Series 4 4 $0.42206 Preference Shares, Series 5 US$0.41769 Preference Shares, Series 7 $0.37425 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 $0.38825 1 The quarterly dividend per share paid on Preference Shares, Series G was decreased to $0.43014 from $0.46817 on September 1, 2024 due to reset on a quarterly basis. 2 The quarterly dividend per share paid on Preference Shares, Series I was decreased to $0.40589 from $0.44366 on September 1, 2024 due to reset on a quarterly basis. 3 The quarterly dividend per share paid on Preference Shares, Series 3 was increased to $0.33050 from $0.23356 on September 1, 2024 due to reset of the annual dividend on September 1, 2024. 4 The first quarterly dividend of $0.42206 per share paid on Preference Shares, Series 4 will be paid on December 1, 2024, due to conversion of Preference Shares, Series 3 into Preference Shares, Series 4 on September 1, 2024.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS AND DISPOSITIONS	ACQUISITIONS AND DISPOSITIONS BUSINESS COMBINATIONS We accounted for each of the acquisitions discussed below using the acquisition method as prescribed by ASC 805 Business Combinations . In accordance with valuation methodologies described in ASC 820 Fair Value Measurement , acquired assets and assumed liabilities are recorded at their estimated fair values as at the date of acquisition. The fair values of regulatory assets and liabilities, which are subject to rate-setting and cost recovery mechanisms under ASC 980 Regulated Operations , are equal to their carrying values at acquisition. The recognition of regulatory assets and liabilities is based on the actions, or expected future actions, of the regulator. To the extent that the regulator's actions differ from our expectations, the timing and amount of recovery or settlement of regulatory balances could differ significantly from those recorded at acquisition. Public Service Company of North Carolina, Incorporated On September 30, 2024, through a wholly-owned US subsidiary, we acquired all of the membership interests of Fall North Carolina Holdco LLC, which owns 100% of Public Service Company of North Carolina, Incorporated (PSNC), for cash consideration of $2.7 billion (US$2.0 billion) (the PSNC Acquisition). PSNC is a public utility primarily engaged in the purchase, sale, transportation and distribution of natural gas to residential, commercial and industrial customers in North Carolina. PSNC operates under rates approved by the North Carolina Utilities Commission. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of PSNC: September 30, 2024 (millions of Canadian dollars) Fair value of net assets acquired: Current assets (a) 351 Property, plant and equipment (b) 4,113 Long-term assets (c) 203 Current liabilities 292 Long-term debt (d) 1,529 Other long-term liabilities (e) 667 Deferred income tax liabilities 365 Goodwill (f) 868 Purchase price: Cash 2,682 a) Current assets consist primarily of cash, trade and other accounts receivable, regulatory assets and inventory. The fair value of trade receivables from customers approximates their carrying value of $50 million due to the short period to maturity. A provision for credit and recovery risk associated with accounts receivable has been made through the expected credit loss, which totaled $2 million. b) PSNC's property, plant and equipment constitutes an integrated system of rate-regulated natural gas transmission, distribution and storage assets. For these rate-regulated assets, fair value was determined using a market participant perspective. Given the regulated nature of, and fixed return on the assets, the fair value of property, plant and equipment acquired is equal to its carrying value. c) Long-term assets consist primarily of $128 million of regulatory assets expected to be recovered from customers in future periods through rates and equity interests in a liquefied natural gas (LNG) storage facility in North Carolina and in an intrastate natural gas pipeline. d) The fair value of long-term debt was determined based on the current underlying US Treasury interest rates on instruments of similar yield, credit risk and tenor, as well as an implied credit spread based on current market conditions. We recorded a fair value adjustment to reduce long-term debt by $156 million with no corresponding regulatory offset. e) Other long-term liabilities consist primarily of regulatory liabilities expected to be refunded to customers in future periods through rates. f) Goodwill is primarily attributable to the existing assembled assets and workforce of PSNC that cannot be duplicated at the same cost by a new entrant and the enhanced scale and geographic diversity of our regulated natural gas distribution business, which provides a platform for future growth and optimization with existing assets. The goodwill balance recognized has been assigned to our Gas Distribution and Storage segment and is not tax deductible. Upon completion of the PSNC Acquisition, we began consolidating PSNC. Our supplemental pro forma consolidated financial information for the three and nine months ended September 30, 2024 and 2023, including the results of operations for PSNC as if the PSNC Acquisition had been completed on January 1, 2023, are as follows: Three months ended September 30, Nine months ended 2024 2023 2024 2023 (unaudited; millions of Canadian dollars) Operating revenues 15,010 9,949 37,921 33,038 Earnings attributable to common shareholders 1 1,276 506 4,655 4,173 1 Includes adjustment for pro forma interest expense on debt financing for the PSNC Acquisition of $12 million and $48 million (after-tax of $9 million and $37 million) for the three and nine months ended September 30, 2023, respectively. Questar Gas Company On May 31, 2024, through a wholly-owned US subsidiary, we acquired all of the membership interests of Fall West Holdco LLC which owns 100% of Questar Gas Company (Questar) and its related Wexpro companies (Wexpro) for cash consideration of $4.1 billion (US$3.0 billion) (the Questar Acquisition). Questar is a public natural gas utility providing distribution, storage and transmission services to residential, commercial and industrial customers in Utah, southwestern Wyoming and southeastern Idaho. The Public Utilities Commissions of Utah, Wyoming and Idaho have granted Questar the necessary regulatory approvals to serve these areas. Wexpro develops and produces cost-of-service gas reserves for Questar and operates under agreements with the states of Utah and Wyoming. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of Questar and Wexpro: May 31, (millions of Canadian dollars) Fair value of net assets acquired: Current assets (a) 464 Property, plant and equipment (b) 5,921 Long-term assets (c) 191 Current liabilities 407 Long-term debt (d) 1,343 Other long-term liabilities (e) 948 Deferred income tax liabilities 522 Goodwill (f) 751 Purchase price: Cash 4,107 a) Current assets consist primarily of cash, trade and other accounts receivable and inventory. The fair value of trade receivables from customers approximates their carrying value of $201 million due to the short period to maturity. A provision for credit and recovery risk associated with accounts receivable has been made through the expected credit loss, which totaled $9 million. b) Questar's property, plant and equipment constitutes an integrated system of rate-regulated natural gas transmission, distribution and storage assets. Wexpro's property, plant and equipment consists of cost-of-service gas and oil properties developed and produced for Questar. For these rate-regulated assets, fair value was determined using a market participant perspective. Given the regulated nature of, and fixed return on the assets, the fair value of property, plant and equipment acquired is equal to its carrying value. c) Long-term assets consist primarily of funds collected from Questar by Wexpro and held in trust to fund future asset retirement obligations (ARO), as well as regulatory assets expected to be recovered from customers in future periods through rates. d) The fair value of long-term debt was determined based on the current underlying US Treasury interest rates on instruments of similar yield, credit risk and tenor, as well as an implied credit spread based on current market conditions. We recorded a fair value adjustment to reduce long-term debt by $301 million with no corresponding regulatory offset. e) Other long-term liabilities consist primarily of regulatory liabilities, expected to be refunded to customers in future periods through rates, as well as ARO. The fair value of the ARO liability was determined using a discounted cash flow approach. f) Goodwill is primarily attributable to the existing assembled assets and workforce of Questar and Wexpro that cannot be duplicated at the same cost by a new entrant and the enhanced scale and geographic diversity of our regulated natural gas distribution business, which provides a platform for future growth and optimization with existing assets. The goodwill balance recognized has been assigned to our Gas Distribution and Storage segment and is not tax deductible. Upon completion of the Questar Acquisition, we began consolidating Questar and Wexpro. For the period beginning May 31, 2024 through to September 30, 2024, operating revenues and earnings attributable to common shareholders generated by Questar and Wexpro were immaterial. Our supplemental pro forma consolidated financial information for the three and nine months ended September 30, 2024 and 2023, including the results of operations for Questar and Wexpro as if the Questar Acquisition had been completed on January 1, 2023, are as follows: Three months ended September 30, Nine months ended 2024 2023 2024 2023 (unaudited; millions of Canadian dollars) Operating revenues 14,882 10,040 38,471 33,885 Earnings attributable to common shareholders 1 1,293 501 4,695 4,153 1 Includes adjustment for pro forma interest expense on debt financing for the Questar Acquisition of $18 million and $70 million (after-tax of $14 million and $52 million) for the three and nine months ended September 30, 2023, respectively. The East Ohio Gas Company On March 6, 2024, through a wholly-owned US subsidiary, we acquired all of the outstanding shares of capital stock of The East Ohio Gas Company (EOG) for cash consideration of $5.8 billion (US$4.3 billion) (the EOG Acquisition). EOG is a public natural gas utility providing distribution, storage and transmission services to residential, commercial and industrial customers in Ohio and is regulated by the Public Utilities Commission of Ohio. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of EOG: March 6, (millions of Canadian dollars) Fair value of net assets acquired: Current assets (a) 641 Property, plant and equipment (b) 7,253 Long-term assets (c) 1,647 Current liabilities 670 Long-term debt (d) 2,612 Other long-term liabilities (e) 993 Deferred income tax liabilities 1,036 Goodwill (f) 1,608 Purchase price: Cash 5,838 a) Current assets consist primarily of cash, trade and other accounts receivable, prepaid expenses, regulatory assets and inventory. The fair value of trade receivables from customers approximates their carrying value of $376 million due to the short period to maturity. A provision for credit and recovery risk associated with accounts receivable has been made through the expected credit loss, which totaled $3 million. b) EOG's property, plant and equipment constitutes an integrated system of rate-regulated natural gas transmission, gathering, distribution and storage assets. For these rate-regulated assets, fair value was determined using a market participant perspective. Given the regulated nature of, and fixed return on the assets, the fair value of property, plant and equipment acquired is equal to its carrying value. c) Long-term assets consist primarily of overfunded pension plan assets of $395 million and $1.2 billion of regulatory assets expected to be recovered from customers in future periods through rates. Pension plan assets attributable to the workforce acquired from EOG were transferred in cash to an Enbridge-sponsored pension plan based on their fair value as at December 31, 2023, subject to closing adjustments. The fair value of plan assets was determined using unadjusted quoted market prices for identical investments. d) The fair value of long-term debt was determined based on the current underlying US Treasury interest rates on instruments of similar yield, credit risk and tenor, as well as an implied credit spread based on current market conditions. We recorded a fair value adjustment to reduce long-term debt by $478 million with no corresponding regulatory offset. e) Other long-term liabilities consist primarily of regulatory liabilities expected to be refunded to customers in future periods through rates. f) Goodwill is primarily attributable to the existing assembled assets and workforce of EOG that cannot be duplicated at the same cost by a new entrant and the enhanced scale and geographic diversity of our regulated natural gas distribution business, which provides a platform for future growth and optimization with existing assets. The goodwill balance recognized has been assigned to our Gas Distribution and Storage segment and is not tax deductible. Upon completion of the EOG Acquisition, we began consolidating EOG. For the period beginning March 6, 2024 through to September 30, 2024, EOG generated $751 million of operating revenues and $170 million of earnings attributable to common shareholders. Our supplemental pro forma consolidated financial information for the three and nine months ended September 30, 2024 and 2023, including the results of operations for EOG as if the EOG Acquisition had been completed on January 1, 2023, are as follows: Three months ended September 30, Nine months ended 2024 2023 2024 2023 (unaudited; millions of Canadian dollars) Operating revenues 14,882 10,131 37,568 33,375 Earnings attributable to common shareholders 1 1,296 625 4,614 4,266 1 Includes adjustment for pro forma interest expense on debt financing for the EOG Acquisition of $26 million and $100 million (after-tax of $20 million and $77 million) for the three and nine months ended September 30, 2023, respectively. The purchase price allocations for the PSNC Acquisition, Questar Acquisition and EOG Acquisition (together, the Acquisitions) were prepared on a preliminary basis and are subject to change as additional information becomes available concerning the fair values of the pension, ARO and regulatory balances and their tax bases. Any adjustments to the purchase price allocations will be made as soon as practicable, but no later than one year from the date of each acquisition. The Acquisitions further diversify, and are complementary to, our existing gas distribution operations. Acquisition of RNG Facilities On January 2, 2024, through a wholly-owned US subsidiary, we acquired six Morrow Renewables operating landfill gas-to-renewable natural gas (RNG) production facilities (Tomorrow RNG) located in Texas and Arkansas for total consideration of $1.3 billion (US$1.0 billion), of which $584 million (US$439 million) was paid at close and an additional deferred consideration is payable within two years with a fair value of $757 million (US$568 million) (the RNG Facilities Acquisition). The acquired assets align with and advance our low-carbon strategy. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of Tomorrow RNG: January 2, 2024 (millions of Canadian dollars) Fair value of net assets acquired: Current assets 31 Intangible assets (a) 925 Property, plant and equipment (b) 174 Current liabilities 5 Goodwill (c) 223 Purchase price: Cash 584 Deferred consideration (d): Current portion of long-term debt 550 Long-term debt 207 Other adjustments 7 1,348 a) Intangible assets consist of long-term gas supply agreements with the respective facility's landfill owner. Fair value was determined using an income-based approach, specifically the multi-period excess earnings method, by estimating the present value of the after-tax cash flows attributable to the gas rights. The intangible assets will be amortized on a straight-line basis over the term of the respective agreement, inclusive of extension options, which range from 13 to 42 years. b) Tomorrow RNG's property, plant and equipment constitutes specialized landfill gas plant and equipment which collects gas produced by waste decomposition, treats and compresses the gas to pipeline specifications. The direct method of replacement cost was used to determine the majority of the fair value of property, plant and equipment. Adjustments were then applied for estimated physical deterioration. c) Goodwill is primarily attributable to expected future returns from a portfolio of both operating and scalable RNG assets, furthering the diversity of our renewable projects portfolio and accelerating progress toward our energy transition goals. The goodwill balance recognized has been assigned to our Gas Transmission segment and is tax deductible over 15 years. d) We entered into six non-interest bearing promissory notes due to Morrow Renewables, the total value of which represents deferred payments of $808 million (US$606 million) due within two years. The first and second payments are due on January 2, 2025 and December 31, 2025, respectively. The $757 million (US$568 million) recognized in the purchase price represents the fair value of deferred consideration at the date of acquisition using the imputed interest rate method over the terms of the notes. Upon completion of the RNG Facilities Acquisition, we began consolidating Tomorrow RNG. For the period beginning January 2, 2024 through to September 30, 2024, operating revenues and earnings attributable to common shareholders generated by Tomorrow RNG were immaterial. The impact to our supplemental pro forma consolidated operating revenues and earnings attributable to common shareholders for the three and nine months ended September 30, 2024 and 2023, as if the RNG Facilities Acquisition had been completed on January 1, 2023, was also immaterial. ASSET ACQUISITION Tres Palacios Holdings LLC On April 3, 2023, we acquired Tres Palacios Holdings LLC (Tres Palacios) for $451 million (US$335 million) of cash. Tres Palacios is a natural gas storage facility located in the US Gulf Coast and its infrastructure serves Texas gas-fired power generation and LNG exports, as well as Mexico pipeline exports. We allocated assets with a fair value of $790 million (US$588 million) to Property, plant and equipment, net, of which $254 million (US$189 million) relates to storage cavern right-of-use assets, and recorded the related lease liabilities of $7 million (US$5 million) and $248 million (US$184 million) to Current portion of long-term debt and Long-term debt, respectively, in the Consolidated Statements of Financial Position. The acquired assets are included in our Gas Transmission segment. DISPOSITION Disposition of Alliance Pipeline and Aux Sable Interests On April 1, 2024, we closed the sale of our 50.0% interest in the Alliance Pipeline, our interest in Aux Sable (including a 42.7% interest in Aux Sable Midstream LLC and Aux Sable Liquid Products L.P., and a 50.0% interest in Aux Sable Canada LP) and our interest in NRGreen Power Limited Partnership (NRGreen) to Pembina Pipeline Corporation for $3.1 billion, including $327 million of non-recourse debt, subject to customary closing adjustments. A gain on disposal of $1.1 billion before tax, which is net of $1.0 billion of the goodwill from our Gas Transmission segment allocated to the disposal group, is included in Gain on disposition of equity investments in the Consolidated Statements of Earnings for the nine months ended September 30, 2024. Our equity investments in the Alliance Pipeline and Aux Sable were previously included in our Gas Transmission segment. Our equity investment in NRGreen was previously included in our Renewable Power Generation segment. EQUITY INVESTMENT TRANSACTION Joint Venture with WhiteWater/I Squared and MPLX On May 29, 2024, through a wholly-owned US subsidiary, we formed a joint venture (the Whistler Parent JV) with WhiteWater/I Squared Capital (WhiteWater/I Squared) and MPLX LP (MPLX) that will develop, construct, own and operate natural gas pipeline and storage assets connecting Permian Basin natural gas supply to growing LNG and other US Gulf Coast demand. The Whistler Parent JV is owned by WhiteWater/I Squared (50.6%), MPLX (30.4%) and Enbridge (19.0%) and is accounted for as an equity method investment. In connection with the formation of the Whistler Parent JV, we contributed our 100% interest in the Rio Bravo Pipeline project and $487 million (US$357 million) of cash to the Whistler Parent JV. In addition to our 19.0% equity interest in the Whistler Parent JV, we received a special equity interest in the Whistler Parent JV which provides for a 25.0% economic interest in the Rio Bravo Pipeline project. This interest is subject to certain redemption rights held by Whitewater/I Squared and MPLX. After the closing on May 29, 2024, we accrued for our share of the post-closing mandatory capital expenditures of approximately US$150 million for the Rio Bravo Pipeline project. Additional capital expenditures to complete the Rio Bravo Pipeline project will be proportionate to our economic interest. The contribution of our interest in the Rio Bravo Pipeline project to the Whistler Parent JV in exchange for the equity interests discussed above represents a non-cash transaction in Cash Flows from Investing Activities and does not have an effect on our Consolidated Statements of Cash Flows. This component of the transaction resulted in a reduction of $321 million (US$235 million) to Property, plant and equipment, net and a corresponding increase to Long-term investments in the Consolidated Statements of Financial Position. The cash component of the transaction, as well as subsequent cash payments made for post-closing mandatory capital expenditures, have been reflected as contributions in Cash Flows from Investing Activities.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT CREDIT FACILITIES The following table provides details of our committed credit facilities as at September 30, 2024: Maturity 1 Total Draws 2 Available (millions of Canadian dollars) Enbridge Inc. 2025-2049 8,835 3,993 4,842 Enbridge (U.S.) Inc. 2026-2029 10,403 2,518 7,885 Enbridge Pipelines Inc. 2026 2,000 1,095 905 Enbridge Gas Inc. 2026 2,500 930 1,570 Total committed credit facilities 23,738 8,536 15,202 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 2024, we entered into a delayed-draw term loan facility in support of sustainable retrofit projects for large buildings using decarbonization solutions for $200 million which matures in March 2049. In June 2024, we entered into a five-year, non-revolving term loan facility of US$250 million which matures in June 2029. In July 2024, we renewed approximately $8.8 billion of our 364-day extendible credit facilities, extending the maturity dates to July 2026, which includes a one-year term out provision from July 2025. We also renewed approximately $7.8 billion of our five-year credit facilities, extending the maturity dates to July 2029. Further, we extended the maturity dates of our three-year credit facilities to July 2027. In July 2024, Enbridge Gas Inc. (Enbridge Gas Ontario) extended the maturity date of its 364-day extendible credit facility to July 2026, which includes a one-year term out provision from July 2025. In July 2024, Enbridge Pipelines Inc. extended the maturity date of its 364-day extendible credit facility to July 2026, which includes a one-year term out provision from July 2025. In addition to the committed credit facilities noted above, we maintain $1.3 billion of uncommitted demand letter of credit facilities, of which $859 million was unutilized as at September 30, 2024. As at December 31, 2023, we had $1.1 billion of uncommitted demand letter of credit facilities, of which $572 million was unutilized. In October 2024, we increased our letter of credit facilities by $200 million. 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 our commercial paper programs and we have the option to extend such facilities, which are currently scheduled to mature from 2025 to 2049. As at September 30, 2024 and December 31, 2023, commercial paper and credit facility draws, net of short-term borrowings and non-revolving credit facilities that mature within one year, of $6.8 billion and $3.8 billion, respectively, were supported by the availability of long-term committed credit facilities and, therefore, have been classified as long-term debt. ACQUISITIONS As a result of the EOG Acquisition, RNG Facilities Acquisition, Questar Acquisition and PSNC Acquisition, our debt increased by US$1.9 billion, US$568 million, US$1.0 billion, and US$1.1 billion, respectively, on each acquisition date. Refer to Note 6 - Acquisitions and Dispositions for further details. LONG-TERM DEBT ISSUANCES During the nine months ended September 30, 2024, we completed the following long-term debt issuances totaling US$5.1 billion and $1.8 billion: Company Issue Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. April 2024 5.25% senior notes due April 2027 US$750 April 2024 5.30% senior notes due April 2029 US$750 April 2024 5.63% senior notes due April 2034 US$1,200 April 2024 5.95% senior notes due April 2054 US$800 June 2024 7.38% fixed-to-fixed subordinated notes due March 2055 1 US$500 June 2024 7.20% fixed-to-fixed subordinated notes due June 2054 2 US$700 August 2024 4.21% medium-term notes due February 2030 $600 August 2024 4.73% medium-term notes due August 2034 $800 August 2024 5.32% medium-term notes due August 2054 $400 Algonquin Gas Transmission, LLC July 2024 5.95% senior notes due July 2034 US$350 1 For the initial 5.5 years, the notes carry a fixed interest rate. On March 15, 2030, the interest rate will be reset to equal the Five-Year US Treasury rate plus a margin of 3.12%. 2 For the initial 9.75 years, the notes carry a fixed interest rate. On June 27, 2034, the interest rate will be reset to equal the Five-Year US Treasury rate plus a margin of 2.97%. LONG-TERM DEBT REPAYMENTS During the nine months ended September 30, 2024, we completed the following long-term debt repayments totaling US$3.6 billion, $0.8 billion and €23 million: Company Repayment Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. February 2024 Floating rate notes 1 US$600 February 2024 2.15% senior notes US$400 March 2024 5.97% senior notes 2 US$700 June 2024 3.50% senior notes US$500 Enbridge Gas Inc. August 2024 3.15% medium-term notes $215 Enbridge Pipelines (Southern Lights) L.L.C. June 2024 3.98% senior notes US$42 Enbridge Pipelines Inc. February 2024 8.20% debentures $200 Enbridge Southern Lights LP January and July 2024 4.01% senior notes $20 Westcoast Energy Inc. September 2024 3.43% medium-term notes $350 Spectra Energy Partners, LP March 2024 4.75% senior notes US$1,000 Blauracke GmbH April 2024 2.10% senior notes €23 Algonquin Gas Transmission, LLC July 2024 3.51% senior notes US$350 1 The notes carried an interest rate set to equal the Secured Overnight Financing Rate 2 The notes carried an original maturity date in March 2026, and were callable in March 2024, which was one year after their issuance. SUBORDINATED TERM NOTES As at September 30, 2024 and December 31, 2023, our fixed-to-floating rate and fixed-to-fixed rate subordinated term notes had a principal value of $14.8 billion and $13.0 billion, respectively. FAIR VALUE ADJUSTMENT As at September 30, 2024 and December 31, 2023, the fair value adjustments to increase total debt assumed in a historical acquisition were $474 million and $514 million, respectively. As a result of the EOG, Questar, and PSNC Acquisitions, there were additional fair value adjustments of $451 million, $293 million, and $156 million, respectively, to decrease total debt as at September 30, 2024. Amortization of the fair value adjustment is recorded to Interest expense in the Consolidated Statements of Earnings: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (millions of Canadian dollars) (Increase)/decrease to Interest expense (9) 12 (7) 34 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 were to default on payment or violate certain covenants. As at September 30, 2024, we were in compliance with all such debt covenant provisions.

SHARE CAPITAL

SHARE CAPITAL	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
SHARE CAPITAL	SHARE CAPITAL On May 15, 2024, we filed prospectus supplements in Canada and the US to establish an at-the-market equity issuance program (the ATM Program) that allowed us to issue and sell, at our discretion, up to $2.75 billion (or the US dollar equivalent) of our common shares from treasury to the public from time to time at the market prices prevailing at the time of sale through the Toronto Stock Exchange, the New York Stock Exchange or any other marketplace in Canada or the US where the common shares may be traded. During the period from May 15, 2024 to June 30, 2024, 51,298,629 common shares were issued and sold under the ATM Program at average prices of CAD$48.72 and US$35.77 per common share for aggregate gross proceeds of $2.50 billion ($2.48 billion, net of aggregate commissions paid of $16.3 million and other issuance costs). On August 1, 2024, we terminated the ATM Program. Net proceeds from sales of common shares under the ATM Program were used to partially fund the Questar Acquisition and PSNC Acquisition and to pay related fees and expenses. On September 8, 2023, we closed a public offering of 102,913,500 common shares at a price of $44.70 per share for gross proceeds of $4.6 billion which were also used to finance a portion of the aggregate cash consideration payable for the Acquisitions discussed in Note 6 - Acquisitions and Dispositions .

COMPONENTS OF ACCUMULATED OTHER

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME	COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME Changes in Accumulated other comprehensive income (AOCI) attributable to our common shareholders for the nine months ended September 30, 2024 and 2023 are as follows: Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2024 320 (23) (728) 2,653 11 70 2,303 Other comprehensive income/(loss) retained in AOCI 15 (34) (357) 1,498 3 — 1,125 Other comprehensive (income)/loss reclassified to earnings Interest rate contracts 1 22 — — — — — 22 Commodity contracts 2 (1) — — — — — (1) Foreign exchange contracts 3 — 43 — — — — 43 Amortization of pension and OPEB actuarial gain 4 — — — — — (14) (14) 36 9 (357) 1,498 3 (14) 1,175 Tax impact Income tax on amounts retained in AOCI (4) 8 — — — — 4 Income tax on amounts reclassified to earnings (3) (10) — — — 3 (10) (7) (2) — — — 3 (6) Balance as at September 30, 2024 349 (16) (1,085) 4,151 14 59 3,472 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 447 11 42 (128) 8 — 380 Other comprehensive (income)/loss reclassified to earnings Interest rate contracts 1 63 — — — — — 63 Other contracts 5 1 — — — — — 1 Amortization of pension and OPEB actuarial gain 4 — — — — — (16) (16) 511 11 42 (128) 8 (16) 428 Tax impact Income tax on amounts retained in AOCI (117) — — — (1) — (118) Income tax on amounts reclassified to earnings (6) — — — — 3 (3) (123) — — — (1) 3 (121) Balance as at September 30, 2023 509 (24) (1,095) 4,220 12 205 3,827 1 Reported within Interest expense in the Consolidated Statements of Earnings. 2 Reported within Transportation and other services revenues in the Consolidated Statements of Earnings. 3 Reported within Other income/(expense) in the Consolidated Statements of Earnings. 4 These components are included in the computation of net periodic benefit credit and are reported within Other income/(expense) in the Consolidated Statements of Earnings. 5 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.

RISK MANAGEMENT AND FINANCIAL I

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2024
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 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 US dollar-denominated investments and subsidiaries using foreign currency US dollar-denominated debt. Interest Rate Risk Our earnings, cash flows and OCI are exposed to short-term interest rate variability due to the regular repricing of our variable rate debt, primarily commercial paper. We have a policy of limiting the maximum floating rate debt to 30% of total debt outstanding. To ensure compliance with our policy, we monitor and adjust our debt portfolio mix of fixed and variable rate debt instruments in conjunction with the use of hedging instruments. 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 and costless collars. These swaps have an average fixed rate of 3.7%. Our earnings and cash flows are also exposed to variability in longer term interest rates ahead of anticipated fixed rate term debt issuances. A combination of qualifying and non-qualifying 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 forecasted term debt issuances via execution of floating-to-fixed interest rate swaps with an average swap rate of 3.5%. Commodity Price Risk Our earnings, cash flows and OCI 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 marketing 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. TOTAL DERIVATIVE INSTRUMENTS We 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 tables summarize 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. September 30, 2024 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 33 41 74 (20) 54 Interest rate contracts 5 — 16 21 (7) 14 Commodity contracts 2 — 328 330 (162) 168 Other contracts — — 1 1 — 1 7 33 386 426 (189) 237 Deferred amounts and other assets Foreign exchange contracts — — 120 120 (81) 39 Interest rate contracts 20 — 72 92 (59) 33 Commodity contracts — — 102 102 (37) 65 20 — 294 314 (177) 137 Other current liabilities Foreign exchange contracts — (49) (252) (301) 20 (281) Interest rate contracts — — (15) (15) 7 (8) Commodity contracts — — (334) (334) 162 (172) — (49) (601) (650) 189 (461) Other long-term liabilities Foreign exchange contracts — — (794) (794) 81 (713) Interest rate contracts (95) — (166) (261) 59 (202) Commodity contracts — — (196) (196) 37 (159) (95) — (1,156) (1,251) 177 (1,074) Total net derivative asset/(liability) Foreign exchange contracts — (16) (885) (901) — (901) Interest rate contracts (70) — (93) (163) — (163) Commodity contracts 2 — (100) (98) — (98) Other contracts — — 1 1 — 1 (68) (16) (1,077) (1,161) — (1,161) December 31, 2023 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 41 98 139 (32) 107 Interest rate contracts 31 — 34 65 (32) 33 Commodity contracts — — 418 418 (270) 148 Other contracts — — 1 1 (1) — 31 41 551 623 (335) 288 Deferred amounts and other assets Foreign exchange contracts — 16 319 335 (122) 213 Interest rate contracts 51 — 2 53 (21) 32 Commodity contracts — — 75 75 (41) 34 51 16 396 463 (184) 279 Other current liabilities Foreign exchange contracts — (44) (84) (128) 32 (96) Interest rate contracts (183) — (3) (186) 32 (154) Commodity contracts (11) — (412) (423) 270 (153) Other contracts — — (1) (1) 1 — (194) (44) (500) (738) 335 (403) Other long-term liabilities Foreign exchange contracts — (17) (481) (498) 122 (376) Interest rate contracts (3) — (85) (88) 21 (67) Commodity contracts (7) — (159) (166) 41 (125) (10) (17) (725) (752) 184 (568) Total net derivative liability Foreign exchange contracts — (4) (148) (152) — (152) Interest rate contracts (104) — (52) (156) — (156) Commodity contracts (18) — (78) (96) — (96) Other contracts — — — — — — (122) (4) (278) (404) — (404) The following table summarizes the maturity and notional principal or quantity outstanding related to our derivative instruments: September 30, 2024 2024 2025 2026 2027 2028 Thereafter Total Foreign exchange contracts - US dollar forwards - purchase (millions of US dollars) 695 500 — — — — 1,195 Foreign exchange contracts - US dollar forwards - sell (millions of US dollars) 2,014 5,327 4,697 4,271 3,342 1,068 20,719 Foreign exchange contracts - British pound (GBP) forwards - sell (millions of GBP) 9 30 28 32 — — 99 Foreign exchange contracts - Euro forwards - sell (millions of Euro) 35 126 121 81 67 195 625 Foreign exchange contracts - Japanese yen forwards - purchase (millions of yen) — 84,800 — — — — 84,800 Interest rate contracts - short-term pay fixed rate (millions of Canadian dollars) 1,900 2,236 1,717 675 49 13 6,590 Interest rate contracts - short-term receive fixed rate (millions of Canadian dollars) 18 — — — — — 18 Interest rate contracts - long-term pay fixed rate (millions of Canadian dollars) 1 300 4,080 723 — — — 5,103 Interest rate contracts - costless collar (millions of Canadian dollars) — 1,858 265 104 6 — 2,233 Commodity contracts - natural gas (billions of cubic feet) 2 7 101 60 28 9 7 212 Commodity contracts - crude oil (millions of barrels) 2 (9) 22 19 1 1 2 36 Commodity contracts - power (megawatt per hour (MW/H)) 151 31 26 (51) (49) (30) (7) 3 1 Represents the notional amount of long-term debt issuances hedged. 2 Represents the notional amount of net purchase/(sale). 3 Total is an average net purchase/(sale) of power. Derivatives Designated as Fair Value Hedges The following table presents foreign exchange derivative instruments that are designated and qualify as fair value hedges. The realized and unrealized gain or loss on the derivative is included in Other income/(expense) 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/(expense) in the Consolidated Statements of Earnings. Any excluded components are included in the Consolidated Statements of Comprehensive Income. Three months ended Nine months ended 2024 2023 2024 2023 (millions of Canadian dollars) Unrealized gain/(loss) on derivative 71 35 (21) (107) Unrealized gain/(loss) on hedged item (67) (35) 33 106 Realized gain/(loss) on derivative (11) (11) 36 (34) Realized loss on hedged item — — (79) — 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 comprehensive income, before the effect of income taxes: Three months ended Nine months ended 2024 2023 2024 2023 (millions of Canadian dollars) Amount of unrealized gain/(loss) recognized in OCI Cash flow hedges Interest rate contracts (144) 313 4 423 Commodity contracts 5 20 20 56 Other contracts — (1) 1 (3) Fair value hedges Foreign exchange contracts (8) 2 (34) 11 (147) 334 (9) 487 Amount of (income)/loss reclassified from AOCI to earnings Foreign exchange contracts 1 12 — 43 — Interest rate contracts 2 10 40 22 63 Commodity contracts 3 — 1 (1) — Other contracts 4 — — — 1 22 41 64 64 1 Reported within Other income/(expense) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 Reported within Transportation and other services revenues in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. We estimate that a gain of $2 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 three years as at September 30, 2024. 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 Nine months ended 2024 2023 2024 2023 (millions of Canadian dollars) Foreign exchange contracts 1 203 (650) (736) 415 Interest rate contracts 2 (161) 17 (39) 72 Commodity contracts 3 70 (229) (35) (206) Other contracts 4 2 (3) 1 (11) Total unrealized derivative fair value gain/(loss), net 114 (865) (809) 270 1 For the respective nine months ended periods, reported within Transportation and other services revenues (2024 - nil; 2023 - $645 million gain) and Other income/(expense) (2024 - $736 million loss; 2023 - $230 million loss) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 For the respective nine months ended periods, reported within Transportation and other services revenues (2024 - $14 million loss; 2023 - $85 million loss), Commodity sales (2024 - $91 million loss; 2023 - $75 million gain), Commodity costs (2024 - $103 million gain; 2023 - $136 million loss) and Operating and administrative expense (2024 - $33 million loss; 2023 - $60 million loss) 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 September 30, 2024. As a result, all credit facilities are available to us and the banks are obligated to fund us under the terms of the facilities. We also identify a variety of other potential sources of debt and equity funding alternatives, including reinstatement of our dividend reinvestment and share purchase plan or at-the-market equity issuances. 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, contractual requirements and netting arrangements. We also review counterparty credit exposure using external credit rating services and other analytical tools to manage credit risk. We have credit concentrations and credit exposure, with respect to derivative instruments, in the following counterparty segments: September 30, December 31, (millions of Canadian dollars) Canadian financial institutions 289 457 US financial institutions 117 252 European financial institutions 79 107 Asian financial institutions 42 121 Other 1 196 125 723 1,062 1 Other is comprised of commodity clearing house and physical natural gas and crude oil counterparties. As at September 30, 2024, 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 September 30, 2024 and December 31, 2023. 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 Ontario, 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. Under the fair value hierarchy, cash and cash equivalents are classified as Level 1. 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, and investments in exchange-traded funds held by our captive insurance subsidiaries. We also hold restricted long-term investments in exchange-traded funds and common shares in trusts in accordance with the CER's regulatory requirements under the Land Matters Consultation Initiative (LMCI) and to cover future pipeline decommissioning costs in the state of Minnesota. 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 trust 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 derivative's 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, physical forward commodity contracts, as well as options. 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. Fair Value of Derivatives We have categorized our derivative assets and liabilities measured at fair value as follows: September 30, 2024 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 74 — 74 Interest rate contracts — 21 — 21 Commodity contracts 59 89 182 330 Other contracts — 1 — 1 59 185 182 426 Long-term derivative assets Foreign exchange contracts — 120 — 120 Interest rate contracts — 92 — 92 Commodity contracts 1 19 82 102 1 231 82 314 Financial liabilities Current derivative liabilities Foreign exchange contracts — (301) — (301) Interest rate contracts — (15) — (15) Commodity contracts (42) (91) (201) (334) (42) (407) (201) (650) Long-term derivative liabilities Foreign exchange contracts — (794) — (794) Interest rate contracts — (261) — (261) Commodity contracts (1) (23) (172) (196) (1) (1,078) (172) (1,251) Total net financial asset/(liability) Foreign exchange contracts — (901) — (901) Interest rate contracts — (163) — (163) Commodity contracts 17 (6) (109) (98) Other contracts — 1 — 1 17 (1,069) (109) (1,161) December 31, 2023 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 139 — 139 Interest rate contracts — 65 — 65 Commodity contracts 142 103 173 418 Other contracts — 1 — 1 142 308 173 623 Long-term derivative assets Foreign exchange contracts — 335 — 335 Interest rate contracts — 53 — 53 Commodity contracts — 24 51 75 — 412 51 463 Financial liabilities Current derivative liabilities Foreign exchange contracts — (128) — (128) Interest rate contracts — (186) — (186) Commodity contracts (136) (76) (211) (423) Other contracts — (1) — (1) (136) (391) (211) (738) Long-term derivative liabilities Foreign exchange contracts — (498) — (498) Interest rate contracts — (88) — (88) Commodity contracts — (22) (144) (166) — (608) (144) (752) Total net financial asset/(liability) Foreign exchange contracts — (152) — (152) Interest rate contracts — (156) — (156) Commodity contracts 6 29 (131) (96) Other contracts — — — — 6 (279) (131) (404) The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments were as follows: September 30, 2024 Fair Unobservable Minimum Maximum Weighted Unit of (fair value in millions of Canadian dollars) Commodity contracts - financial 1 Natural gas (5) Forward gas price 2.65 8.64 4.47 $/mmbtu 2 Crude (10) Forward crude price 68.33 93.84 89.52 $/barrel Power (75) Forward power price 28.63 162.60 60.57 $/MW/H Commodity contracts - physical 1 Natural gas (10) Forward gas price 0.05 10.03 3.66 $/mmbtu 2 Crude 25 Forward crude price 70.48 111.10 90.27 $/barrel Power (73) Forward power price 22.77 144.39 61.52 $/MW/H Commodity options 3 Natural gas 39 Option volatility 6% 70% 46% (109) 1 Financial and physical forward commodity contracts are valued using a market approach valuation technique. 2 One million British thermal units (mmbtu). 3 Commodity options contracts are valued using an option model valuation technique. 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 the net fair value of derivative assets and liabilities classified as Level 3 in the fair value hierarchy were as follows: Nine months ended 2024 2023 (millions of Canadian dollars) Level 3 net derivative liability at beginning of period (131) (136) Total gain/(loss), unrealized Included in earnings 1 1 (205) Included in OCI 19 — Settlements 2 119 Level 3 net derivative liability at end of period (109) (222) 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 September 30, 2024 or December 31, 2023. 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 nine months ended September 30, 2024 and 2023, we recognized unrealized foreign exchange losses of $244 million and gains of $86 million, respectively, on the translation of US dollar-denominated debt, in OCI. During the nine months ended September 30, 2024 and 2023, we recognized realized losses of $113 million and $44 million, 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 $178 million and $173 million as at September 30, 2024 and December 31, 2023, respectively. As at September 30, 2024, we had investments with a fair value of $959 million included in Restricted long-term investments and cash in the Consolidated Statements of Financial Position (December 31, 2023 - $717 million) which are classified as available-for-sale. These securities represent restricted funds held in trust for the purpose of funding pipeline abandonment in accordance with the CER's regulatory requirements, to cover future pipeline decommissioning costs in the state of Minnesota and to satisfy retirement obligations as Wexpro properties are abandoned. We had restricted long-term investments and cash held in trust totaling $447 million as at September 30, 2024 which are classified as Level 1 in the fair value hierarchy (December 31, 2023 - $263 million). We also had restricted long-term investments held in trust totaling $512 million (cost basis - $529 million) and $454 million (cost basis - $486 million) as at September 30, 2024 and December 31, 2023, respectively, which are classified as Level 2 in the fair value hierarchy. There were unrealized holding gains of $46 million and $45 million on these investments for the three and nine months ended September 30, 2024, respectively (2023 - losses of $44 million and $7 million, respectively). 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 September 30, 2024, the fair value of investments in equity funds and debt securities held by our captive insurance subsidiaries was $334 million and $255 million, respectively (December 31, 2023 - $287 million and $284 million, respectively). Our investments in debt securities had a cost basis of $248 million as at September 30, 2024 (December 31, 2023 - $279 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 $14 million and $35 million for the three and nine months ended September 30, 2024, (2023 - losses of $8 million and gains of $14 million, respectively). As at September 30, 2024 and December 31, 2023, our long-term debt including finance lease liabilities had a carrying value of $94.8 billion and $81.2 billion, respectively, before debt issuance costs and a fair value of $94.5 billion and $78.1 billion, respectively. The fair value of financial assets and liabilities other than derivative instruments, certain long-term investments in other entities, restricted long-term investments, investments held by our captive insurance subsidiaries and long-term debt described above approximate their carrying value due to the short period to maturity.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the three months ended September 30, 2024 and 2023 were 17.7% and 17.0%, respectively, and for the nine months ended September 30, 2024 and 2023 were 22.3% and 20.5%, respectively. The period-over-period increase in the effective income tax rate for the three-months ended is driven by the increase in US minimum tax, the effects of rate regulated accounting for income taxes, partially offset by a state apportionment income tax rate change due to the PSNC Acquisition (Note 6) relative to the change in earnings over the comparative periods. The period-over-period increase in the effective income tax rate for the nine-months ended is due to an increase in US minimum tax, the tax effect of the write-down of non-deductible goodwill on the Gas Transmission segment (Note 6) , and the effects of rate regulated accounting for income taxes, partially offset by a state apportionment income tax rate change due to the Acquisitions (Note 6) , and the non-taxable portion of the gain on the disposition of Alliance Pipeline and Aux Sable (Note 6) relative to the change in earnings over the comparative periods.

OTHER INCOME_(EXPENSE)

OTHER INCOME/(EXPENSE)	9 Months Ended
	Sep. 30, 2024
Other Income and Expenses [Abstract]
OTHER INCOME/(EXPENSE)	OTHER INCOME/(EXPENSE) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (millions of Canadian dollars) Realized foreign currency gain/(loss) (34) 31 80 177 Unrealized foreign currency gain/(loss) 255 (652) (816) (348) Net defined pension and OPEB credit 44 34 133 101 Other 111 122 397 282 376 (465) (206) 212

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
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 an insurance program for us, our subsidiaries and certain of our affiliates to mitigate a certain portion of our risks. However, not all potential risks arising from our operations are insurable, or are insured by us as a result of availability, high premiums and for various other reasons. We self-insure a significant portion of certain risks through our wholly-owned captive insurance subsidiaries, which requires 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. Our insurance coverage is also subject to terms and conditions, exclusions and large deductibles or self-insured retentions which may reduce or eliminate coverage in certain circumstances. Our insurance policies are generally renewed on an annual basis and, depending on factors such as market conditions, the premiums, terms, policy limits and/or deductibles can vary substantially. We can give no assurance that we will be able to maintain adequate insurance in the future at rates or on other terms we consider commercially reasonable. In such case, we may decide to self-insure additional risks. 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Earnings attributable to controlling interests	$ 1,391	$ 621	$ 4,846	$ 4,373

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
FUTURE ACCOUNTING POLICY CHANGES	FUTURE ACCOUNTING POLICY CHANGES Segment Reporting Accounting Standards Update (ASU) 2023-07 was issued in November 2023 to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses and to require in interim period financial statements all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The new ASU requires entities to disclose the title and position of the individual or the name of the group or committee identified as the chief operating decision maker (CODM). ASU 2023-07 is effective January 1, 2024, with interim period disclosure requirements effective after January 1, 2025 and should be applied retrospectively to all prior periods presented in the financial statements. We are currently assessing the impact of the new standard on our annual disclosures for the year ending December 31, 2024 and on our interim disclosures beginning in 2025. Income Tax Disclosures ASU 2023-09 was issued in December 2023 to improve income tax disclosures by requiring specified categories in the annual rate reconciliation that meet quantitative thresholds and further disaggregation on income taxes paid by jurisdiction. ASU 2023-09 is effective January 1, 2025 and should be applied prospectively, with retrospective application being permitted. We are currently assessing the impact of the new standard on our consolidated financial statements.

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Major Products and Services	Major Products and Services Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other Consolidated (millions of Canadian dollars) Transportation revenue 2,906 1,264 447 — — 4,617 Storage and other revenue 65 143 125 — — 333 Gas distribution revenue — — 710 — — 710 Electricity revenue — — — 36 — 36 Commodity sales — 37 — — — 37 Total revenue from contracts with customers 2,971 1,444 1,282 36 — 5,733 Commodity sales 8,725 10 — — 214 8,949 Other revenue 1,2 79 27 (2) 96 — 200 Intersegment revenue — 5 1 1 (7) — Total revenue 11,775 1,486 1,281 133 207 14,882 Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other Consolidated (millions of Canadian dollars) Transportation revenue 2,856 1,294 148 — — 4,298 Storage and other revenue 65 118 83 — — 266 Gas distribution revenue — — 528 — — 528 Electricity revenue — — — 79 — 79 Total revenue from contracts with customers 2,921 1,412 759 79 — 5,171 Commodity sales 4,373 — — — 279 4,652 Other revenue 1,2 61 11 (9) (42) — 21 Intersegment revenue — — 1 3 (4) — Total revenue 7,355 1,423 751 40 275 9,844 Nine months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other Consolidated (millions of Canadian dollars) Transportation revenue 8,916 3,895 1,267 — — 14,078 Storage and other revenue 192 416 351 — — 959 Gas distribution revenue — — 3,149 — — 3,149 Electricity revenue — — — 137 — 137 Commodity sales — 115 — — — 115 Total revenue from contracts with customers 9,108 4,426 4,767 137 — 18,438 Commodity sales 17,494 62 — — 751 18,307 Other revenue 1,2 213 46 24 228 — 511 Intersegment revenue — 16 5 5 (26) — Total revenue 26,815 4,550 4,796 370 725 37,256 Nine months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other Consolidated (millions of Canadian dollars) Transportation revenue 8,800 3,968 593 — — 13,361 Storage and other revenue 191 326 267 — — 784 Gas distribution revenue — — 3,611 — — 3,611 Electricity revenue — — — 220 — 220 Total revenue from contracts with customers 8,991 4,294 4,471 220 — 17,976 Commodity sales 13,039 — — — 1,075 14,114 Other revenue 1,2 170 29 (50) 112 — 261 Intersegment revenue — 1 5 2 (8) — Total revenue 22,200 4,324 4,426 334 1,067 32,351 1 Includes realized and unrealized gains and losses from our hedging program which for the three months ended September 30, 2024 were a net $54 million gain (2023 - $97 million loss) and for the nine months ended September 30, 2024 were a net $15 million gain (2023 - $149 million loss). 2 Includes revenues from lease contracts for the three months ended September 30, 2024 and 2023 of $125 million and $107 million, respectively, and for the nine months ended September 30, 2024 and 2023 of $407 million and $387 million, respectively. Recognition and Measurement of Revenues Three months ended September 30, 2024 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — 37 31 — 68 Revenues from products and services transferred over time 1 2,971 1,407 1,251 36 5,665 Total revenue from contracts with customers 2,971 1,444 1,282 36 5,733 Three months ended September 30, 2023 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — — 38 — 38 Revenues from products and services transferred over time 1 2,921 1,412 721 79 5,133 Total revenue from contracts with customers 2,921 1,412 759 79 5,171 Nine months ended September 30, 2024 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — 115 93 — 208 Revenues from products and services transferred over time 1 9,108 4,311 4,674 137 18,230 Total revenue from contracts with customers 9,108 4,426 4,767 137 18,438 Nine months ended September 30, 2023 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — — 105 — 105 Revenues from products and services transferred over time 1 8,991 4,294 4,366 220 17,871 Total revenue from contracts with customers 8,991 4,294 4,471 220 17,976 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 Balances	Contract Balances Contract Receivables Contract Assets Contract Liabilities (millions of Canadian dollars) Balance as at September 30, 2024 2,563 325 2,738 Balance as at December 31, 2023 2,802 400 2,591

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Reporting Information by Segment	Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 11,775 1,486 1,281 133 207 14,882 Commodity and gas distribution costs (8,624) (29) (203) 2 (212) (9,066) Operating and administrative (1,104) (536) (579) (74) 12 (2,281) Income/(loss) from equity investments 261 182 — 39 (3) 479 Other income (Note 12) 17 43 23 2 291 376 Earnings before interest, income taxes and depreciation and amortization 2,325 1,146 522 102 295 4,390 Depreciation and amortization (1,317) Interest expense (1,314) Income tax expense (312) Earnings 1,447 Capital expenditures 2 268 609 675 92 8 1,652 Three months ended September 30, 2023 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 7,355 1,423 751 40 275 9,844 Commodity and gas distribution costs (4,344) 1 (190) (13) (285) (4,831) Operating and administrative (1,093) (578) (305) (63) (16) (2,055) Income/(loss) from equity investments 232 94 — 21 (4) 343 Other income/(expense) (Note 12) 14 33 15 45 (572) (465) Earnings/(loss) before interest, income taxes and depreciation and amortization 2,164 973 271 30 (602) 2,836 Depreciation and amortization (1,164) Interest expense (921) Income tax expense (128) Earnings 623 Capital expenditures 2 318 462 415 9 2 1,206 Nine months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 26,815 4,550 4,796 370 725 37,256 Commodity and gas distribution costs (17,168) (117) (1,519) 1 (745) (19,548) Operating and administrative (3,311) (1,701) (1,486) (214) (11) (6,723) Income/(loss) from equity investments 798 611 1 265 (11) 1,664 Gain on disposition of equity investments (Note 6) — 1,063 — 28 — 1,091 Other income/(expense) (Note 12) 45 100 62 47 (460) (206) Earnings/(loss) before interest, income taxes and depreciation and amortization 7,179 4,506 1,854 497 (502) 13,534 Depreciation and amortization (3,783) Interest expense (3,301) Income tax expense (1,437) Earnings 5,013 Capital expenditures 2 766 1,770 1,412 209 59 4,216 Nine months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 22,200 4,324 4,426 334 1,067 32,351 Commodity and gas distribution costs (12,771) 1 (2,173) (19) (1,016) (15,978) Operating and administrative (3,320) (1,715) (939) (178) 32 (6,120) Income/(loss) from equity investments 733 531 1 83 (10) 1,338 Other income/(expense) (Note 12) 102 79 39 75 (83) 212 Earnings/(loss) before interest, income taxes and depreciation and amortization 6,944 3,220 1,354 295 (10) 11,803 Depreciation and amortization (3,447) Interest expense (2,709) Income tax expense (1,157) Earnings 4,490 Capital expenditures 2 835 1,332 1,025 77 54 3,323 1 Includes operating revenues and commodity costs from our natural gas and power marketing subsidiaries for the three months ended September 30, 2024 of $213 million (2023 - $279 million) and $213 million (2023 - $292 million), respectively, and for the nine months ended September 30, 2024 of $750 million (2023 - $1.1 billion) and $757 million (2023 - $1.0 billion), respectively. 2 Includes the equity component of the allowance for funds used during construction.

EARNINGS PER COMMON SHARE AND_2

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
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 common share are as follows: Three months ended Nine months ended 2024 2023 2024 2023 (number of shares in millions) Weighted average shares outstanding 2,177 2,048 2,147 2,033 Effect of dilutive options and RSUs 3 1 3 2 Diluted weighted average shares outstanding 2,180 2,049 2,150 2,035
Schedule of Preferred Stock Characteristics by Class	On October 29, 2024, our Board of Directors declared the following quarterly dividends. All dividends are payable on December 1, 2024 to shareholders of record on November 15, 2024. Dividend per share Common Shares $0.91500 Preference Shares, Series A $0.34375 Preference Shares, Series B $0.32513 Preference Shares, Series D $0.33825 Preference Shares, Series F $0.34613 Preference Shares, Series G 1 $0.43014 Preference Shares, Series H $0.38200 Preference Shares, Series I 2 $0.40589 Preference Shares, Series L US$0.36612 Preference Shares, Series N $0.41850 Preference Shares, Series P $0.36988 Preference Shares, Series R $0.39463 Preference Shares, Series 1 US$0.41898 Preference Shares, Series 3 3 $0.33050 Preference Shares, Series 4 4 $0.42206 Preference Shares, Series 5 US$0.41769 Preference Shares, Series 7 $0.37425 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 $0.38825 1 The quarterly dividend per share paid on Preference Shares, Series G was decreased to $0.43014 from $0.46817 on September 1, 2024 due to reset on a quarterly basis. 2 The quarterly dividend per share paid on Preference Shares, Series I was decreased to $0.40589 from $0.44366 on September 1, 2024 due to reset on a quarterly basis. 3 The quarterly dividend per share paid on Preference Shares, Series 3 was increased to $0.33050 from $0.23356 on September 1, 2024 due to reset of the annual dividend on September 1, 2024. 4 The first quarterly dividend of $0.42206 per share paid on Preference Shares, Series 4 will be paid on December 1, 2024, due to conversion of Preference Shares, Series 3 into Preference Shares, Series 4 on September 1, 2024.

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated preliminary fair values that were assigned to the net assets of PSNC: September 30, 2024 (millions of Canadian dollars) Fair value of net assets acquired: Current assets (a) 351 Property, plant and equipment (b) 4,113 Long-term assets (c) 203 Current liabilities 292 Long-term debt (d) 1,529 Other long-term liabilities (e) 667 Deferred income tax liabilities 365 Goodwill (f) 868 Purchase price: Cash 2,682 a) Current assets consist primarily of cash, trade and other accounts receivable, regulatory assets and inventory. The fair value of trade receivables from customers approximates their carrying value of $50 million due to the short period to maturity. A provision for credit and recovery risk associated with accounts receivable has been made through the expected credit loss, which totaled $2 million. b) PSNC's property, plant and equipment constitutes an integrated system of rate-regulated natural gas transmission, distribution and storage assets. For these rate-regulated assets, fair value was determined using a market participant perspective. Given the regulated nature of, and fixed return on the assets, the fair value of property, plant and equipment acquired is equal to its carrying value. c) Long-term assets consist primarily of $128 million of regulatory assets expected to be recovered from customers in future periods through rates and equity interests in a liquefied natural gas (LNG) storage facility in North Carolina and in an intrastate natural gas pipeline. d) The fair value of long-term debt was determined based on the current underlying US Treasury interest rates on instruments of similar yield, credit risk and tenor, as well as an implied credit spread based on current market conditions. We recorded a fair value adjustment to reduce long-term debt by $156 million with no corresponding regulatory offset. e) Other long-term liabilities consist primarily of regulatory liabilities expected to be refunded to customers in future periods through rates. f) Goodwill is primarily attributable to the existing assembled assets and workforce of PSNC that cannot be duplicated at the same cost by a new entrant and the enhanced scale and geographic diversity of our regulated natural gas distribution business, which provides a platform for future growth and optimization with existing assets. The goodwill balance recognized has been assigned to our Gas Distribution and Storage segment and is not tax deductible. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of Questar and Wexpro: May 31, (millions of Canadian dollars) Fair value of net assets acquired: Current assets (a) 464 Property, plant and equipment (b) 5,921 Long-term assets (c) 191 Current liabilities 407 Long-term debt (d) 1,343 Other long-term liabilities (e) 948 Deferred income tax liabilities 522 Goodwill (f) 751 Purchase price: Cash 4,107 a) Current assets consist primarily of cash, trade and other accounts receivable and inventory. The fair value of trade receivables from customers approximates their carrying value of $201 million due to the short period to maturity. A provision for credit and recovery risk associated with accounts receivable has been made through the expected credit loss, which totaled $9 million. b) Questar's property, plant and equipment constitutes an integrated system of rate-regulated natural gas transmission, distribution and storage assets. Wexpro's property, plant and equipment consists of cost-of-service gas and oil properties developed and produced for Questar. For these rate-regulated assets, fair value was determined using a market participant perspective. Given the regulated nature of, and fixed return on the assets, the fair value of property, plant and equipment acquired is equal to its carrying value. c) Long-term assets consist primarily of funds collected from Questar by Wexpro and held in trust to fund future asset retirement obligations (ARO), as well as regulatory assets expected to be recovered from customers in future periods through rates. d) The fair value of long-term debt was determined based on the current underlying US Treasury interest rates on instruments of similar yield, credit risk and tenor, as well as an implied credit spread based on current market conditions. We recorded a fair value adjustment to reduce long-term debt by $301 million with no corresponding regulatory offset. e) Other long-term liabilities consist primarily of regulatory liabilities, expected to be refunded to customers in future periods through rates, as well as ARO. The fair value of the ARO liability was determined using a discounted cash flow approach. f) Goodwill is primarily attributable to the existing assembled assets and workforce of Questar and Wexpro that cannot be duplicated at the same cost by a new entrant and the enhanced scale and geographic diversity of our regulated natural gas distribution business, which provides a platform for future growth and optimization with existing assets. The goodwill balance recognized has been assigned to our Gas Distribution and Storage segment and is not tax deductible. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of EOG: March 6, (millions of Canadian dollars) Fair value of net assets acquired: Current assets (a) 641 Property, plant and equipment (b) 7,253 Long-term assets (c) 1,647 Current liabilities 670 Long-term debt (d) 2,612 Other long-term liabilities (e) 993 Deferred income tax liabilities 1,036 Goodwill (f) 1,608 Purchase price: Cash 5,838 a) Current assets consist primarily of cash, trade and other accounts receivable, prepaid expenses, regulatory assets and inventory. The fair value of trade receivables from customers approximates their carrying value of $376 million due to the short period to maturity. A provision for credit and recovery risk associated with accounts receivable has been made through the expected credit loss, which totaled $3 million. b) EOG's property, plant and equipment constitutes an integrated system of rate-regulated natural gas transmission, gathering, distribution and storage assets. For these rate-regulated assets, fair value was determined using a market participant perspective. Given the regulated nature of, and fixed return on the assets, the fair value of property, plant and equipment acquired is equal to its carrying value. c) Long-term assets consist primarily of overfunded pension plan assets of $395 million and $1.2 billion of regulatory assets expected to be recovered from customers in future periods through rates. Pension plan assets attributable to the workforce acquired from EOG were transferred in cash to an Enbridge-sponsored pension plan based on their fair value as at December 31, 2023, subject to closing adjustments. The fair value of plan assets was determined using unadjusted quoted market prices for identical investments. d) The fair value of long-term debt was determined based on the current underlying US Treasury interest rates on instruments of similar yield, credit risk and tenor, as well as an implied credit spread based on current market conditions. We recorded a fair value adjustment to reduce long-term debt by $478 million with no corresponding regulatory offset. e) Other long-term liabilities consist primarily of regulatory liabilities expected to be refunded to customers in future periods through rates. f) Goodwill is primarily attributable to the existing assembled assets and workforce of EOG that cannot be duplicated at the same cost by a new entrant and the enhanced scale and geographic diversity of our regulated natural gas distribution business, which provides a platform for future growth and optimization with existing assets. The goodwill balance recognized has been assigned to our Gas Distribution and Storage segment and is not tax deductible. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of Tomorrow RNG: January 2, 2024 (millions of Canadian dollars) Fair value of net assets acquired: Current assets 31 Intangible assets (a) 925 Property, plant and equipment (b) 174 Current liabilities 5 Goodwill (c) 223 Purchase price: Cash 584 Deferred consideration (d): Current portion of long-term debt 550 Long-term debt 207 Other adjustments 7 1,348 a) Intangible assets consist of long-term gas supply agreements with the respective facility's landfill owner. Fair value was determined using an income-based approach, specifically the multi-period excess earnings method, by estimating the present value of the after-tax cash flows attributable to the gas rights. The intangible assets will be amortized on a straight-line basis over the term of the respective agreement, inclusive of extension options, which range from 13 to 42 years. b) Tomorrow RNG's property, plant and equipment constitutes specialized landfill gas plant and equipment which collects gas produced by waste decomposition, treats and compresses the gas to pipeline specifications. The direct method of replacement cost was used to determine the majority of the fair value of property, plant and equipment. Adjustments were then applied for estimated physical deterioration. c) Goodwill is primarily attributable to expected future returns from a portfolio of both operating and scalable RNG assets, furthering the diversity of our renewable projects portfolio and accelerating progress toward our energy transition goals. The goodwill balance recognized has been assigned to our Gas Transmission segment and is tax deductible over 15 years. d) We entered into six non-interest bearing promissory notes due to Morrow Renewables, the total value of which represents deferred payments of $808 million (US$606 million) due within two years. The first and second payments are due on January 2, 2025 and December 31, 2025, respectively. The $757 million (US$568 million) recognized in the purchase price represents the fair value of deferred consideration at the date of acquisition using the imputed interest rate method over the terms of the notes.
Schedule of Supplemental Pro Forma Consolidated Financial Information	Our supplemental pro forma consolidated financial information for the three and nine months ended September 30, 2024 and 2023, including the results of operations for PSNC as if the PSNC Acquisition had been completed on January 1, 2023, are as follows: Three months ended September 30, Nine months ended 2024 2023 2024 2023 (unaudited; millions of Canadian dollars) Operating revenues 15,010 9,949 37,921 33,038 Earnings attributable to common shareholders 1 1,276 506 4,655 4,173 1 Includes adjustment for pro forma interest expense on debt financing for the PSNC Acquisition of $12 million and $48 million (after-tax of $9 million and $37 million) for the three and nine months ended September 30, 2023, respectively. Our supplemental pro forma consolidated financial information for the three and nine months ended September 30, 2024 and 2023, including the results of operations for Questar and Wexpro as if the Questar Acquisition had been completed on January 1, 2023, are as follows: Three months ended September 30, Nine months ended 2024 2023 2024 2023 (unaudited; millions of Canadian dollars) Operating revenues 14,882 10,040 38,471 33,885 Earnings attributable to common shareholders 1 1,293 501 4,695 4,153 1 Includes adjustment for pro forma interest expense on debt financing for the Questar Acquisition of $18 million and $70 million (after-tax of $14 million and $52 million) for the three and nine months ended September 30, 2023, respectively. Our supplemental pro forma consolidated financial information for the three and nine months ended September 30, 2024 and 2023, including the results of operations for EOG as if the EOG Acquisition had been completed on January 1, 2023, are as follows: Three months ended September 30, Nine months ended 2024 2023 2024 2023 (unaudited; millions of Canadian dollars) Operating revenues 14,882 10,131 37,568 33,375 Earnings attributable to common shareholders 1 1,296 625 4,614 4,266 1 Includes adjustment for pro forma interest expense on debt financing for the EOG Acquisition of $26 million and $100 million (after-tax of $20 million and $77 million) for the three and nine months ended September 30, 2023, respectively.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Credit Facilities	The following table provides details of our committed credit facilities as at September 30, 2024: Maturity 1 Total Draws 2 Available (millions of Canadian dollars) Enbridge Inc. 2025-2049 8,835 3,993 4,842 Enbridge (U.S.) Inc. 2026-2029 10,403 2,518 7,885 Enbridge Pipelines Inc. 2026 2,000 1,095 905 Enbridge Gas Inc. 2026 2,500 930 1,570 Total committed credit facilities 23,738 8,536 15,202 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 nine months ended September 30, 2024, we completed the following long-term debt issuances totaling US$5.1 billion and $1.8 billion: Company Issue Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. April 2024 5.25% senior notes due April 2027 US$750 April 2024 5.30% senior notes due April 2029 US$750 April 2024 5.63% senior notes due April 2034 US$1,200 April 2024 5.95% senior notes due April 2054 US$800 June 2024 7.38% fixed-to-fixed subordinated notes due March 2055 1 US$500 June 2024 7.20% fixed-to-fixed subordinated notes due June 2054 2 US$700 August 2024 4.21% medium-term notes due February 2030 $600 August 2024 4.73% medium-term notes due August 2034 $800 August 2024 5.32% medium-term notes due August 2054 $400 Algonquin Gas Transmission, LLC July 2024 5.95% senior notes due July 2034 US$350 1 For the initial 5.5 years, the notes carry a fixed interest rate. On March 15, 2030, the interest rate will be reset to equal the Five-Year US Treasury rate plus a margin of 3.12%. 2 For the initial 9.75 years, the notes carry a fixed interest rate. On June 27, 2034, the interest rate will be reset to equal the Five-Year US Treasury rate plus a margin of 2.97%.
Schedule of Repayment of Debt	During the nine months ended September 30, 2024, we completed the following long-term debt repayments totaling US$3.6 billion, $0.8 billion and €23 million: Company Repayment Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. February 2024 Floating rate notes 1 US$600 February 2024 2.15% senior notes US$400 March 2024 5.97% senior notes 2 US$700 June 2024 3.50% senior notes US$500 Enbridge Gas Inc. August 2024 3.15% medium-term notes $215 Enbridge Pipelines (Southern Lights) L.L.C. June 2024 3.98% senior notes US$42 Enbridge Pipelines Inc. February 2024 8.20% debentures $200 Enbridge Southern Lights LP January and July 2024 4.01% senior notes $20 Westcoast Energy Inc. September 2024 3.43% medium-term notes $350 Spectra Energy Partners, LP March 2024 4.75% senior notes US$1,000 Blauracke GmbH April 2024 2.10% senior notes €23 Algonquin Gas Transmission, LLC July 2024 3.51% senior notes US$350 1 The notes carried an interest rate set to equal the Secured Overnight Financing Rate 2 The notes carried an original maturity date in March 2026, and were callable in March 2024, which was one year after their issuance.
Schedule of Amortization of Fair Value Adjustment	Amortization of the fair value adjustment is recorded to Interest expense in the Consolidated Statements of Earnings: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (millions of Canadian dollars) (Increase)/decrease to Interest expense (9) 12 (7) 34

COMPONENTS OF ACCUMULATED OTH_2

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2024
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 (AOCI) attributable to our common shareholders for the nine months ended September 30, 2024 and 2023 are as follows: Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2024 320 (23) (728) 2,653 11 70 2,303 Other comprehensive income/(loss) retained in AOCI 15 (34) (357) 1,498 3 — 1,125 Other comprehensive (income)/loss reclassified to earnings Interest rate contracts 1 22 — — — — — 22 Commodity contracts 2 (1) — — — — — (1) Foreign exchange contracts 3 — 43 — — — — 43 Amortization of pension and OPEB actuarial gain 4 — — — — — (14) (14) 36 9 (357) 1,498 3 (14) 1,175 Tax impact Income tax on amounts retained in AOCI (4) 8 — — — — 4 Income tax on amounts reclassified to earnings (3) (10) — — — 3 (10) (7) (2) — — — 3 (6) Balance as at September 30, 2024 349 (16) (1,085) 4,151 14 59 3,472 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 447 11 42 (128) 8 — 380 Other comprehensive (income)/loss reclassified to earnings Interest rate contracts 1 63 — — — — — 63 Other contracts 5 1 — — — — — 1 Amortization of pension and OPEB actuarial gain 4 — — — — — (16) (16) 511 11 42 (128) 8 (16) 428 Tax impact Income tax on amounts retained in AOCI (117) — — — (1) — (118) Income tax on amounts reclassified to earnings (6) — — — — 3 (3) (123) — — — (1) 3 (121) Balance as at September 30, 2023 509 (24) (1,095) 4,220 12 205 3,827 1 Reported within Interest expense in the Consolidated Statements of Earnings. 2 Reported within Transportation and other services revenues in the Consolidated Statements of Earnings. 3 Reported within Other income/(expense) in the Consolidated Statements of Earnings. 4 These components are included in the computation of net periodic benefit credit and are reported within Other income/(expense) in the Consolidated Statements of Earnings. 5 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.

RISK MANAGEMENT AND FINANCIAL_2

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the Consolidated Statements of Financial Position Location and Carrying Value of Derivative Instruments	The following tables summarize 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. September 30, 2024 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 33 41 74 (20) 54 Interest rate contracts 5 — 16 21 (7) 14 Commodity contracts 2 — 328 330 (162) 168 Other contracts — — 1 1 — 1 7 33 386 426 (189) 237 Deferred amounts and other assets Foreign exchange contracts — — 120 120 (81) 39 Interest rate contracts 20 — 72 92 (59) 33 Commodity contracts — — 102 102 (37) 65 20 — 294 314 (177) 137 Other current liabilities Foreign exchange contracts — (49) (252) (301) 20 (281) Interest rate contracts — — (15) (15) 7 (8) Commodity contracts — — (334) (334) 162 (172) — (49) (601) (650) 189 (461) Other long-term liabilities Foreign exchange contracts — — (794) (794) 81 (713) Interest rate contracts (95) — (166) (261) 59 (202) Commodity contracts — — (196) (196) 37 (159) (95) — (1,156) (1,251) 177 (1,074) Total net derivative asset/(liability) Foreign exchange contracts — (16) (885) (901) — (901) Interest rate contracts (70) — (93) (163) — (163) Commodity contracts 2 — (100) (98) — (98) Other contracts — — 1 1 — 1 (68) (16) (1,077) (1,161) — (1,161) December 31, 2023 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 41 98 139 (32) 107 Interest rate contracts 31 — 34 65 (32) 33 Commodity contracts — — 418 418 (270) 148 Other contracts — — 1 1 (1) — 31 41 551 623 (335) 288 Deferred amounts and other assets Foreign exchange contracts — 16 319 335 (122) 213 Interest rate contracts 51 — 2 53 (21) 32 Commodity contracts — — 75 75 (41) 34 51 16 396 463 (184) 279 Other current liabilities Foreign exchange contracts — (44) (84) (128) 32 (96) Interest rate contracts (183) — (3) (186) 32 (154) Commodity contracts (11) — (412) (423) 270 (153) Other contracts — — (1) (1) 1 — (194) (44) (500) (738) 335 (403) Other long-term liabilities Foreign exchange contracts — (17) (481) (498) 122 (376) Interest rate contracts (3) — (85) (88) 21 (67) Commodity contracts (7) — (159) (166) 41 (125) (10) (17) (725) (752) 184 (568) Total net derivative liability Foreign exchange contracts — (4) (148) (152) — (152) Interest rate contracts (104) — (52) (156) — (156) Commodity contracts (18) — (78) (96) — (96) Other contracts — — — — — — (122) (4) (278) (404) — (404)
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: September 30, 2024 2024 2025 2026 2027 2028 Thereafter Total Foreign exchange contracts - US dollar forwards - purchase (millions of US dollars) 695 500 — — — — 1,195 Foreign exchange contracts - US dollar forwards - sell (millions of US dollars) 2,014 5,327 4,697 4,271 3,342 1,068 20,719 Foreign exchange contracts - British pound (GBP) forwards - sell (millions of GBP) 9 30 28 32 — — 99 Foreign exchange contracts - Euro forwards - sell (millions of Euro) 35 126 121 81 67 195 625 Foreign exchange contracts - Japanese yen forwards - purchase (millions of yen) — 84,800 — — — — 84,800 Interest rate contracts - short-term pay fixed rate (millions of Canadian dollars) 1,900 2,236 1,717 675 49 13 6,590 Interest rate contracts - short-term receive fixed rate (millions of Canadian dollars) 18 — — — — — 18 Interest rate contracts - long-term pay fixed rate (millions of Canadian dollars) 1 300 4,080 723 — — — 5,103 Interest rate contracts - costless collar (millions of Canadian dollars) — 1,858 265 104 6 — 2,233 Commodity contracts - natural gas (billions of cubic feet) 2 7 101 60 28 9 7 212 Commodity contracts - crude oil (millions of barrels) 2 (9) 22 19 1 1 2 36 Commodity contracts - power (megawatt per hour (MW/H)) 151 31 26 (51) (49) (30) (7) 3 1 Represents the notional amount of long-term debt issuances hedged. 2 Represents the notional amount of net purchase/(sale). 3 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	The following table presents foreign exchange derivative instruments that are designated and qualify as fair value hedges. The realized and unrealized gain or loss on the derivative is included in Other income/(expense) 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/(expense) in the Consolidated Statements of Earnings. Any excluded components are included in the Consolidated Statements of Comprehensive Income. Three months ended Nine months ended 2024 2023 2024 2023 (millions of Canadian dollars) Unrealized gain/(loss) on derivative 71 35 (21) (107) Unrealized gain/(loss) on hedged item (67) (35) 33 106 Realized gain/(loss) on derivative (11) (11) 36 (34) Realized loss on hedged item — — (79) — The following table presents the effect of cash flow hedges and fair value hedges on our consolidated earnings and comprehensive income, before the effect of income taxes: Three months ended Nine months ended 2024 2023 2024 2023 (millions of Canadian dollars) Amount of unrealized gain/(loss) recognized in OCI Cash flow hedges Interest rate contracts (144) 313 4 423 Commodity contracts 5 20 20 56 Other contracts — (1) 1 (3) Fair value hedges Foreign exchange contracts (8) 2 (34) 11 (147) 334 (9) 487 Amount of (income)/loss reclassified from AOCI to earnings Foreign exchange contracts 1 12 — 43 — Interest rate contracts 2 10 40 22 63 Commodity contracts 3 — 1 (1) — Other contracts 4 — — — 1 22 41 64 64 1 Reported within Other income/(expense) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 Reported within Transportation and other services revenues in the Consolidated Statements of Earnings. 4 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 Nine months ended 2024 2023 2024 2023 (millions of Canadian dollars) Foreign exchange contracts 1 203 (650) (736) 415 Interest rate contracts 2 (161) 17 (39) 72 Commodity contracts 3 70 (229) (35) (206) Other contracts 4 2 (3) 1 (11) Total unrealized derivative fair value gain/(loss), net 114 (865) (809) 270 1 For the respective nine months ended periods, reported within Transportation and other services revenues (2024 - nil; 2023 - $645 million gain) and Other income/(expense) (2024 - $736 million loss; 2023 - $230 million loss) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 For the respective nine months ended periods, reported within Transportation and other services revenues (2024 - $14 million loss; 2023 - $85 million loss), Commodity sales (2024 - $91 million loss; 2023 - $75 million gain), Commodity costs (2024 - $103 million gain; 2023 - $136 million loss) and Operating and administrative expense (2024 - $33 million loss; 2023 - $60 million loss) 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: September 30, December 31, (millions of Canadian dollars) Canadian financial institutions 289 457 US financial institutions 117 252 European financial institutions 79 107 Asian financial institutions 42 121 Other 1 196 125 723 1,062 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: September 30, 2024 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 74 — 74 Interest rate contracts — 21 — 21 Commodity contracts 59 89 182 330 Other contracts — 1 — 1 59 185 182 426 Long-term derivative assets Foreign exchange contracts — 120 — 120 Interest rate contracts — 92 — 92 Commodity contracts 1 19 82 102 1 231 82 314 Financial liabilities Current derivative liabilities Foreign exchange contracts — (301) — (301) Interest rate contracts — (15) — (15) Commodity contracts (42) (91) (201) (334) (42) (407) (201) (650) Long-term derivative liabilities Foreign exchange contracts — (794) — (794) Interest rate contracts — (261) — (261) Commodity contracts (1) (23) (172) (196) (1) (1,078) (172) (1,251) Total net financial asset/(liability) Foreign exchange contracts — (901) — (901) Interest rate contracts — (163) — (163) Commodity contracts 17 (6) (109) (98) Other contracts — 1 — 1 17 (1,069) (109) (1,161) December 31, 2023 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 139 — 139 Interest rate contracts — 65 — 65 Commodity contracts 142 103 173 418 Other contracts — 1 — 1 142 308 173 623 Long-term derivative assets Foreign exchange contracts — 335 — 335 Interest rate contracts — 53 — 53 Commodity contracts — 24 51 75 — 412 51 463 Financial liabilities Current derivative liabilities Foreign exchange contracts — (128) — (128) Interest rate contracts — (186) — (186) Commodity contracts (136) (76) (211) (423) Other contracts — (1) — (1) (136) (391) (211) (738) Long-term derivative liabilities Foreign exchange contracts — (498) — (498) Interest rate contracts — (88) — (88) Commodity contracts — (22) (144) (166) — (608) (144) (752) Total net financial asset/(liability) Foreign exchange contracts — (152) — (152) Interest rate contracts — (156) — (156) Commodity contracts 6 29 (131) (96) Other contracts — — — — 6 (279) (131) (404)
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: September 30, 2024 Fair Unobservable Minimum Maximum Weighted Unit of (fair value in millions of Canadian dollars) Commodity contracts - financial 1 Natural gas (5) Forward gas price 2.65 8.64 4.47 $/mmbtu 2 Crude (10) Forward crude price 68.33 93.84 89.52 $/barrel Power (75) Forward power price 28.63 162.60 60.57 $/MW/H Commodity contracts - physical 1 Natural gas (10) Forward gas price 0.05 10.03 3.66 $/mmbtu 2 Crude 25 Forward crude price 70.48 111.10 90.27 $/barrel Power (73) Forward power price 22.77 144.39 61.52 $/MW/H Commodity options 3 Natural gas 39 Option volatility 6% 70% 46% (109) 1 Financial and physical forward commodity contracts are valued using a market approach valuation technique. 2 One million British thermal units (mmbtu). 3 Commodity options contracts are valued using an option model valuation technique.
Schedule of Changes in Net Fair Value of Derivative Assets and Liabilities Classified as Level 3 in the Fair Value Hierarchy	Changes in the net fair value of derivative assets and liabilities classified as Level 3 in the fair value hierarchy were as follows: Nine months ended 2024 2023 (millions of Canadian dollars) Level 3 net derivative liability at beginning of period (131) (136) Total gain/(loss), unrealized Included in earnings 1 1 (205) Included in OCI 19 — Settlements 2 119 Level 3 net derivative liability at end of period (109) (222) 1 Reported within Transportation and other services revenues, Commodity costs and Operating and administrative expense in the Consolidated Statements of Earnings.

OTHER INCOME_(EXPENSE) (Tables)

OTHER INCOME/(EXPENSE) (Tables)	9 Months Ended
	Sep. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other Income/(Expense)	Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (millions of Canadian dollars) Realized foreign currency gain/(loss) (34) 31 80 177 Unrealized foreign currency gain/(loss) 255 (652) (816) (348) Net defined pension and OPEB credit 44 34 133 101 Other 111 122 397 282 376 (465) (206) 212

REVENUE - Major Products and Se

REVENUE - Major Products and Services (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 5,733	$ 5,171	$ 18,438	$ 17,976
Total revenue	14,882	9,844	37,256	32,351
Realized gain/(loss) on derivative	54	(97)	15	(149)
Revenues from lease contracts	125	107	407	387
Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4,617	4,298	14,078	13,361
Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	333	266	959	784
Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	710	528	3,149	3,611
Total revenue	702	516	3,181	3,587
Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	36	79	137	220
Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	37		115
Revenue not from contract with customers	8,949	4,652	18,307	14,114
Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	200	21	511	261
Liquids Pipelines
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,971	2,921	9,108	8,991
Gas Transmission
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,444	1,412	4,426	4,294
Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,282	759	4,767	4,471
Renewable Power Generation
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	36	79	137	220
Business segments | Liquids Pipelines
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,971	2,921	9,108	8,991
Total revenue	11,775	7,355	26,815	22,200
Business segments | Liquids Pipelines | Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,906	2,856	8,916	8,800
Business segments | Liquids Pipelines | Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	65	65	192	191
Business segments | Liquids Pipelines | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Business segments | Liquids Pipelines | Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Business segments | Liquids Pipelines | Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0		0
Revenue not from contract with customers	8,725	4,373	17,494	13,039
Business segments | Liquids Pipelines | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	79	61	213	170
Business segments | Gas Transmission
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,444	1,412	4,426	4,294
Total revenue	1,486	1,423	4,550	4,324
Business segments | Gas Transmission | Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,264	1,294	3,895	3,968
Business segments | Gas Transmission | Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	143	118	416	326
Business segments | Gas Transmission | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Business segments | Gas Transmission | Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Business segments | Gas Transmission | Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	37		115
Revenue not from contract with customers	10	0	62	0
Business segments | Gas Transmission | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	27	11	46	29
Business segments | Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,282	759	4,767	4,471
Total revenue	1,281	751	4,796	4,426
Business segments | Gas Distribution and Storage | Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	447	148	1,267	593
Business segments | Gas Distribution and Storage | Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	125	83	351	267
Business segments | Gas Distribution and Storage | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	710	528	3,149	3,611
Business segments | Gas Distribution and Storage | Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Business segments | Gas Distribution and Storage | Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0		0
Revenue not from contract with customers	0	0	0	0
Business segments | Gas Distribution and Storage | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	(2)	(9)	24	(50)
Business segments | Renewable Power Generation
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	36	79	137	220
Total revenue	133	40	370	334
Business segments | Renewable Power Generation | Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Business segments | Renewable Power Generation | Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Business segments | Renewable Power Generation | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Business segments | Renewable Power Generation | Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	36	79	137	220
Business segments | Renewable Power Generation | Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0		0
Revenue not from contract with customers	0	0	0	0
Business segments | Renewable Power Generation | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	96	(42)	228	112
Eliminations and Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Total revenue	207	275	725	1,067
Eliminations and Other | Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Eliminations and Other | Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Eliminations and Other | Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Eliminations and Other | Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Eliminations and Other | Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0		0
Revenue not from contract with customers	214	279	751	1,075
Eliminations and Other | Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0	0	0
Intersegment revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	(7)	(4)	(26)	(8)
Total revenue	207	275	725	1,067
Intersegment revenue | Liquids Pipelines
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0	0	0
Intersegment revenue | Gas Transmission
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	5	0	16	1
Intersegment revenue | Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	1	1	5	5
Intersegment revenue | Renewable Power Generation
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	$ 1	$ 3	$ 5	$ 2

REVENUE - Contract Balances (De

REVENUE - Contract Balances (Details) - CAD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract Receivables	$ 2,563	$ 2,802
Contract Assets	325	400
Contract Liabilities	$ 2,738	$ 2,591

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024 CAD ($)	Sep. 30, 2024 CAD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 62	$ 295
Increase in contract with customers, liability	201	467
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	57,700	57,700
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2,100	$ 2,100
Remaining performance obligation, period	3 months	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 8,400	$ 8,400
Remaining performance obligation, period	1 year	1 year

REVENUE - Recognition and Measu

REVENUE - Recognition and Measurement of Revenues (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 5,733	$ 5,171	$ 18,438	$ 17,976
Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	68	38	208	105
Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	5,665	5,133	18,230	17,871
Liquids Pipelines
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,971	2,921	9,108	8,991
Liquids Pipelines | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Liquids Pipelines | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,971	2,921	9,108	8,991
Gas Transmission
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,444	1,412	4,426	4,294
Gas Transmission | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	37	0	115	0
Gas Transmission | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,407	1,412	4,311	4,294
Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,282	759	4,767	4,471
Gas Distribution and Storage | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	31	38	93	105
Gas Distribution and Storage | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,251	721	4,674	4,366
Renewable Power Generation
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	36	79	137	220
Renewable Power Generation | Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Renewable Power Generation | Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 36	$ 79	$ 137	$ 220

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segmented Information
Operating revenues	$ 14,882	$ 9,844	$ 37,256	$ 32,351
Commodity and gas distribution costs	(9,066)	(4,831)	(19,548)	(15,978)
Operating and administrative	(2,281)	(2,055)	(6,723)	(6,120)
Income/(loss) from equity investments	479	343	1,664	1,338
Gain on disposition of equity investments (Note 6)	0	0	1,091	0
Other income / (expense)	376	(465)	(206)	212
Earnings/(loss) before interest, income taxes and depreciation and amortization	4,390	2,836	13,534	11,803
Depreciation and amortization	(1,317)	(1,164)	(3,783)	(3,447)
Interest expense	(1,314)	(921)	(3,301)	(2,709)
Income tax expense	(312)	(128)	(1,437)	(1,157)
Earnings	1,447	623	5,013	4,490
Capital expenditures	1,652	1,206	4,216	3,323
Energy Marketing Subsidiaries | Subsidiaries
Segmented Information
Operating revenues	213	279	750	1,100
Commodity and gas distribution costs	(213)	(292)	(757)	(1,000)
Business segments | Liquids Pipelines
Segmented Information
Operating revenues	11,775	7,355	26,815	22,200
Commodity and gas distribution costs	(8,624)	(4,344)	(17,168)	(12,771)
Operating and administrative	(1,104)	(1,093)	(3,311)	(3,320)
Income/(loss) from equity investments	261	232	798	733
Gain on disposition of equity investments (Note 6)			0
Other income / (expense)	17	14	45	102
Earnings/(loss) before interest, income taxes and depreciation and amortization	2,325	2,164	7,179	6,944
Capital expenditures	268	318	766	835
Business segments | Gas Transmission
Segmented Information
Operating revenues	1,486	1,423	4,550	4,324
Commodity and gas distribution costs	(29)	1	(117)	1
Operating and administrative	(536)	(578)	(1,701)	(1,715)
Income/(loss) from equity investments	182	94	611	531
Gain on disposition of equity investments (Note 6)			1,063
Other income / (expense)	43	33	100	79
Earnings/(loss) before interest, income taxes and depreciation and amortization	1,146	973	4,506	3,220
Capital expenditures	609	462	1,770	1,332
Business segments | Gas Distribution and Storage
Segmented Information
Operating revenues	1,281	751	4,796	4,426
Commodity and gas distribution costs	(203)	(190)	(1,519)	(2,173)
Operating and administrative	(579)	(305)	(1,486)	(939)
Income/(loss) from equity investments	0	0	1	1
Gain on disposition of equity investments (Note 6)			0
Other income / (expense)	23	15	62	39
Earnings/(loss) before interest, income taxes and depreciation and amortization	522	271	1,854	1,354
Capital expenditures	675	415	1,412	1,025
Business segments | Renewable Power Generation
Segmented Information
Operating revenues	133	40	370	334
Commodity and gas distribution costs	2	(13)	1	(19)
Operating and administrative	(74)	(63)	(214)	(178)
Income/(loss) from equity investments	39	21	265	83
Gain on disposition of equity investments (Note 6)			28
Other income / (expense)	2	45	47	75
Earnings/(loss) before interest, income taxes and depreciation and amortization	102	30	497	295
Capital expenditures	92	9	209	77
Eliminations and Other
Segmented Information
Operating revenues	207	275	725	1,067
Commodity and gas distribution costs	(212)	(285)	(745)	(1,016)
Operating and administrative	12	(16)	(11)	32
Income/(loss) from equity investments	(3)	(4)	(11)	(10)
Gain on disposition of equity investments (Note 6)			0
Other income / (expense)	291	(572)	(460)	(83)
Earnings/(loss) before interest, income taxes and depreciation and amortization	295	(602)	(502)	(10)
Capital expenditures	$ 8	$ 2	$ 59	$ 54

EARNINGS PER COMMON SHARE AND_3

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Weighted Average Shares Outstanding (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Weighted average shares outstanding (in shares)	2,177	2,048	2,147	2,033
Effect of dilutive options and RSUs (in shares)	3	1	3	2
Diluted weighted average shares outstanding (in shares)	2,180	2,049	2,150	2,035

EARNINGS PER COMMON SHARE AND_4

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Narrative (Details) - Stock options - $ / shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive securities
Antidilutive securities excluded from the diluted earnings per common share calculation (in shares)	15.2	21.6	18.7	18.2
Weighted average exercise price of antidilutive securities (in Canadian dollars per share)	$ 55.56	$ 53.69	$ 54.18	$ 54.81

EARNINGS PER COMMON SHARE AND_5

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Dividends Per Share (Details)			3 Months Ended
	Oct. 29, 2024 $ / shares	Oct. 29, 2024 $ / shares	Dec. 31, 2024 $ / shares	Sep. 30, 2024 $ / shares
Preference Shares, Series G
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)				$ 0.46817
Preference Shares, Series I
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)				0.44366
Preference Shares, Series 3
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)				0.23356
Preference Shares, Series 4
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)				$ 0.42206
Subsequent event
Dividends Payable [Line Items]
Common stock, dividends, per share, declared (in Canadian dollars per share)	$ 0.91500
Subsequent event | Preference Shares, Series A
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.34375
Subsequent event | Preference Shares, Series B
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.32513
Subsequent event | Preference Shares, Series D
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.33825
Subsequent event | Preference Shares, Series F
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.34613
Subsequent event | Preference Shares, Series G
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.43014		$ 0.43014
Subsequent event | Preference Shares, Series H
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.38200
Subsequent event | Preference Shares, Series I
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.40589		0.40589
Subsequent event | Preference Shares, Series L
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)		$ 0.36612
Subsequent event | Preference Shares, Series N
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.41850
Subsequent event | Preference Shares, Series P
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.36988
Subsequent event | Preference Shares, Series R
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.39463
Subsequent event | Preference Shares, Series 1
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)		0.41898
Subsequent event | Preference Shares, Series 3
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.33050		$ 0.33050
Subsequent event | Preference Shares, Series 4
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.42206
Subsequent event | Preference Shares, Series 5
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)		$ 0.41769
Subsequent event | Preference Shares, Series 7
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.37425
Subsequent event | Preference Shares, Series 9
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.25606
Subsequent event | Preference Shares, Series 11
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.24613
Subsequent event | Preference Shares, Series 13
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.19019
Subsequent event | Preference Shares, Series 15
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.18644
Subsequent event | Preference Shares, Series 19
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	$ 0.38825

ACQUISITIONS AND DISPOSITIONS -

ACQUISITIONS AND DISPOSITIONS - Narrative (Details) $ in Millions, $ in Millions											7 Months Ended
	Sep. 30, 2024 CAD ($)	Sep. 30, 2024 USD ($)	May 31, 2024 CAD ($)	May 31, 2024 USD ($)	Mar. 06, 2024 CAD ($)	Mar. 06, 2024 USD ($)	Jan. 02, 2024 CAD ($) facility	Jan. 02, 2024 USD ($)	Apr. 03, 2023 CAD ($)	Apr. 03, 2023 USD ($)	Sep. 30, 2024 CAD ($)	Jan. 02, 2024 USD ($) facility	Apr. 03, 2023 USD ($)
PSNC Acquisation
Business Acquisition [Line Items]
Ownership interests acquired (percent)	100%										100%
Purchase price	$ 2,700	$ 2,000
Cash	2,682
Property, plant and equipment	4,113										$ 4,113
Long-term debt	$ 1,529										1,529
Questar Gas Company
Business Acquisition [Line Items]
Ownership interests acquired (percent)			100%
Purchase price			$ 4,100	$ 3,000
Cash			4,107
Property, plant and equipment			5,921
Long-term debt			$ 1,343
EOG Acquisition
Business Acquisition [Line Items]
Purchase price					$ 5,800	$ 4,300
Revenues generated by acquiree											751
Earnings generated by acquiree											$ 170
Cash					5,838
Property, plant and equipment					7,253
Long-term debt					$ 2,612
RNG Facilities
Business Acquisition [Line Items]
Purchase price							$ 1,348	$ 1,000
Number of facilities acquired | facility							6					6
Cash							$ 584	$ 439
Remaining consideration payable, payment period (in years)							2 years	2 years
Contingent consideration payable							$ 757					$ 568
Property, plant and equipment							$ 174
Tres Palacios Holdings LLC
Business Acquisition [Line Items]
Cash									$ 451	$ 335
Property, plant and equipment									790				$ 588
Cavern right-of-use assets									254				189
Lease liabilities									7				5
Long-term debt									$ 248				$ 184

ACQUISITIONS AND DISPOSITIONS_2

ACQUISITIONS AND DISPOSITIONS - Summary of Estimated Fair Values Assigned to Net Assets (Details) $ in Millions	Sep. 30, 2024 CAD ($)	Sep. 30, 2024 USD ($)	May 31, 2024 CAD ($)	May 31, 2024 USD ($)	Mar. 06, 2024 CAD ($)	Mar. 06, 2024 USD ($)	Jan. 02, 2024 CAD ($) promissoryNote	Jan. 02, 2024 USD ($)	Jan. 02, 2024 USD ($) promissoryNote	Dec. 31, 2023 CAD ($)
Fair value of net assets acquired:
Goodwill	$ 34,858,000,000									$ 31,848,000,000
PSNC Acquisation
Fair value of net assets acquired:
Current assets	351,000,000
Property, plant and equipment	4,113,000,000
Long-term assets	203,000,000
Current liabilities	292,000,000
Long-term debt	1,529,000,000
Other long-term liabilities	667,000,000
Deferred income tax liabilities	365,000,000
Goodwill	868,000,000
Purchase price:
Cash	2,682,000,000
Deferred consideration
Purchase price	2,700,000,000	$ 2,000
Expected credit loss	2,000,000
Regulatory assets	128,000,000
Fair value adjustment of long-term debt	156,000,000
Fair value adjustment of regulatory offset	0
PSNC Acquisation | Carrying value
Deferred consideration
Trade receivables	$ 50,000,000
Questar Gas Company
Fair value of net assets acquired:
Current assets			$ 464,000,000
Property, plant and equipment			5,921,000,000
Long-term assets			191,000,000
Current liabilities			407,000,000
Long-term debt			1,343,000,000
Other long-term liabilities			948,000,000
Deferred income tax liabilities			522,000,000
Goodwill			751,000,000
Purchase price:
Cash			4,107,000,000
Deferred consideration
Purchase price			4,100,000,000	$ 3,000
Expected credit loss			9,000,000
Fair value adjustment of long-term debt			301,000,000
Fair value adjustment of regulatory offset			0
Questar Gas Company | Carrying value
Deferred consideration
Trade receivables			$ 201,000,000
EOG Acquisition
Fair value of net assets acquired:
Current assets					$ 641,000,000
Property, plant and equipment					7,253,000,000
Long-term assets					1,647,000,000
Current liabilities					670,000,000
Long-term debt					2,612,000,000
Other long-term liabilities					993,000,000
Deferred income tax liabilities					1,036,000,000
Goodwill					1,608,000,000
Purchase price:
Cash					5,838,000,000
Deferred consideration
Purchase price					5,800,000,000	$ 4,300
Expected credit loss					3,000,000
Overfunded pension plan assets					395,000,000
Regulatory assets					1,200,000,000
Fair value adjustment of long-term debt					478,000,000
EOG Acquisition | Carrying value
Deferred consideration
Trade receivables					$ 376,000,000
RNG Facilities
Fair value of net assets acquired:
Current assets							$ 31,000,000
Intangible assets							925,000,000
Property, plant and equipment							174,000,000
Current liabilities							5,000,000
Goodwill							223,000,000
Purchase price:
Cash							584,000,000	$ 439
Deferred consideration
Current portion of long-term debt							550,000,000
Long-term debt							207,000,000
Other adjustments							7,000,000
Purchase price							$ 1,348,000,000	$ 1,000
Goodwill expected tax deductible period (in years)							15 years	15 years
Number of non-interest promissory notes | promissoryNote							6		6
Remaining consideration payable, payment period (in years)							2 years	2 years
Consideration transferred, liabilities incurred							$ 757,000,000	$ 568
RNG Facilities | Non-Interest Bearing Promissory Notes | Notes Payable, Other Payables
Deferred consideration
Deferred payments							$ 808,000,000		$ 606
RNG Facilities | Minimum
Deferred consideration
Amortized on a straight-line basis over term (in years)							13 years	13 years
RNG Facilities | Maximum
Deferred consideration
Amortized on a straight-line basis over term (in years)							42 years	42 years

ACQUISITIONS AND DISPOSITIONS_3

ACQUISITIONS AND DISPOSITIONS - Schedule of Supplemental Pro Forma Consolidated Financial Information (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Questar Gas Company
Business Acquisition [Line Items]
Operating revenues	$ 14,882	$ 10,040	$ 38,471	$ 33,885
Earnings attributable to common shareholders	1,293	501	4,695	4,153
Pro forma interest expense		18		70
Pro forma interest expense, net of tax		14		52
EOG Acquisition
Business Acquisition [Line Items]
Operating revenues	14,882	10,131	37,568	33,375
Earnings attributable to common shareholders	1,296	625	4,614	4,266
Pro forma interest expense		26		100
Pro forma interest expense, net of tax		20		77
PSNC Acquisation
Business Acquisition [Line Items]
Operating revenues	15,010	9,949	37,921	33,038
Earnings attributable to common shareholders	$ 1,276	506	$ 4,655	4,173
Pro forma interest expense		12		48
Pro forma interest expense, net of tax		$ 9		$ 37

ACQUISITIONS AND DISPOSITIONS_4

ACQUISITIONS AND DISPOSITIONS - Disposition Narrative (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Apr. 01, 2024	Mar. 31, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale	$ 0	$ 0	$ 1,091	$ 0
Alliance Pipeline And Aux Sable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale			1,100
Gas Transmission | Alliance Pipeline And Aux Sable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill allocated to disposal group			$ 1,000
Pembina Pipeline Corporation | Alliance Pipeline And Aux Sable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total consideration					$ 3,100
Non-recourse debt					$ 327
Alliance Pipeline Canada And Us | Alliance Pipeline And Aux Sable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest (in percent)						50%
Aux Sable Midstream LLC and Aux Sable Liquid Products LP | Alliance Pipeline And Aux Sable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest (in percent)						42.70%
Aux Sable Canada LP | Alliance Pipeline And Aux Sable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest (in percent)						50%

ACQUISITIONS AND DISPOSITIONS_5

ACQUISITIONS AND DISPOSITIONS - Equity Investment Transactions Narrative (Details) $ in Millions, $ in Millions	May 29, 2024 CAD ($)	May 29, 2024 USD ($)	May 28, 2024
Rio Bravo
Schedule of Equity Method Investments [Line Items]
Ownership interest (in percent)	25%	25%	100%
Post-closing capital expenditure, amount		$ 150
Whistler Parent JV
Schedule of Equity Method Investments [Line Items]
Ownership interest (in percent)	19%	19%
Carrying value of investment	$ 487	$ 357
Reduction to property, plant and equipment, net and increase to long-term investments	$ 321	$ 235
Whistler Parent JV | WhiteWaterI Squared
Schedule of Equity Method Investments [Line Items]
Ownership interest (in percent)	50.60%	50.60%
Whistler Parent JV | MPLX
Schedule of Equity Method Investments [Line Items]
Ownership interest (in percent)	30.40%	30.40%

DEBT - Credit Facilities (Detai

DEBT - Credit Facilities (Details) - CAD ($) $ in Millions	1 Months Ended	9 Months Ended
	Jul. 31, 2024	Sep. 30, 2024
Committed credit facilities
CREDIT FACILITIES
Total Facilities		$ 23,738
Draws		8,536
Available		$ 15,202
Term out option period (in years)		1 year
Revolving credit facility | 364-day extendible credit facility
CREDIT FACILITIES
Total Facilities	$ 8,800
Term out option period (in years)	1 year
Enbridge (U.S.) Inc. | Committed credit facilities
CREDIT FACILITIES
Total Facilities		$ 10,403
Draws		2,518
Available		7,885
Enbridge Pipelines Inc. | Committed credit facilities
CREDIT FACILITIES
Total Facilities		2,000
Draws		1,095
Available		905
Enbridge Pipelines Inc. | Committed credit facilities | 364-day extendible credit facility
CREDIT FACILITIES
Term out option period (in years)	1 year
Enbridge Gas Inc. | Committed credit facilities
CREDIT FACILITIES
Total Facilities		2,500
Draws		930
Available		1,570
Enbridge Gas Inc. | Committed credit facilities | 364-day extendible credit facility
CREDIT FACILITIES
Term out option period (in years)	1 year
Enbridge Inc. | Committed credit facilities
CREDIT FACILITIES
Total Facilities		8,835
Draws		3,993
Available		$ 4,842

DEBT - Narrative (Details)

DEBT - Narrative (Details) € in Millions, $ in Millions

1 Months Ended

9 Months Ended

Sep. 30, 2024 USD ($)

May 31, 2024 USD ($)

Mar. 06, 2024 USD ($)

Jan. 02, 2024 USD ($)

Oct. 31, 2024 CAD ($)

Jul. 31, 2024 CAD ($)

Jun. 30, 2024 USD ($)

Apr. 30, 2024 EUR (€)

Sep. 30, 2024 CAD ($)

Sep. 30, 2024 USD ($)

Sep. 30, 2024 EUR (€)

Sep. 30, 2024 USD ($)

Mar. 31, 2024 CAD ($)

Dec. 31, 2023 CAD ($)

Line of Credit Facility [Line Items]

Commitment fee percentage

0.10%

0.10%

0.10%

Long-term debt and lease obligation

$ 87,320,000,000

$ 74,715,000,000

Increase (decrease) from cumulative fair value adjustments

$ 474,000,000

514,000,000

Subsequent event

Line of Credit Facility [Line Items]

Line of credit facility, increase

$ 200,000,000

Debt Instrument Interest Rate Terms Period One | Enbridge Inc.

Line of Credit Facility [Line Items]

Debt instrument maturity period (in years)

5 years 6 months

5 years 6 months

5 years 6 months

Spread on variable rate (in percent)

3.12%

3.12%

3.12%

Debt Instrument Interest Rate Terms Period Two | Enbridge Inc.

Line of Credit Facility [Line Items]

Debt instrument maturity period (in years)

9 years 9 months

9 years 9 months

9 years 9 months

Spread on variable rate (in percent)

2.97%

2.97%

2.97%

Long-Term Debt

Line of Credit Facility [Line Items]

Debt instrument, face amount

$ 1,800,000,000

$ 5,100

Principal amount

€ 23

800,000,000

$ 3,600

€ 23

EOG Acquisition

Line of Credit Facility [Line Items]

Debt increased

$ 1,900

Increase (decrease) from cumulative fair value adjustments

(451,000,000)

RNG Facilities

Line of Credit Facility [Line Items]

Debt increased

$ 568

Questar Acquisition

Line of Credit Facility [Line Items]

Debt increased

$ 1,000

Increase (decrease) from cumulative fair value adjustments

(293,000,000)

PSNC Acquisation

Line of Credit Facility [Line Items]

Debt increased

$ 1,100

Increase (decrease) from cumulative fair value adjustments

(156,000,000)

Commercial paper and credit facility draws

Line of Credit Facility [Line Items]

Long-term debt and lease obligation

6,800,000,000

3,800,000,000

Fixed-to-floating subordinated term notes | Subordinated term notes

Line of Credit Facility [Line Items]

Subordinated debt

14,800,000,000

13,000,000,000

Committed credit facilities

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 23,738,000,000

Term out option period (in years)

1 year

1 year

1 year

Unutilized amount of facility

$ 15,202,000,000

Committed credit facilities | Enbridge Inc.

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

8,835,000,000

Unutilized amount of facility

4,842,000,000

Committed credit facilities | Enbridge Gas Inc.

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

2,500,000,000

Unutilized amount of facility

1,570,000,000

Committed credit facilities | Enbridge Pipelines Inc.

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

2,000,000,000

Unutilized amount of facility

905,000,000

Committed credit facilities | Term Loan Maturing In March 2049

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 200,000,000

Committed credit facilities | 364-day extendible credit facility | Enbridge Gas Inc.

Line of Credit Facility [Line Items]

Debt instrument maturity period (in years)

364 days

Term out option period (in years)

1 year

Committed credit facilities | 364-day extendible credit facility | Enbridge Pipelines Inc.

Line of Credit Facility [Line Items]

Debt instrument maturity period (in years)

364 days

Term out option period (in years)

1 year

Uncommitted demand credit facilities

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

1,300,000,000

1,100,000,000

Unutilized amount of facility

$ 859,000,000

$ 572,000,000

Non-Revolving Term Loan Facility | Non-Revolving Term Loan Facility Maturing In June 2029

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 250

Debt instrument maturity period (in years)

5 years

Revolving credit facility | 364-day extendible credit facility

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 8,800,000,000

Debt instrument maturity period (in years)

364 days

Term out option period (in years)

1 year

Revolving credit facility | Term Loan Maturing In July 2026

Line of Credit Facility [Line Items]

Debt instrument maturity period (in years)

3 years

Revolving credit facility | Five Year Credit Facilities

Line of Credit Facility [Line Items]

Line of credit facility, maximum borrowing capacity

$ 7,800,000,000

Debt instrument maturity period (in years)

5 years

DEBT - Long Term Debt Issuance

DEBT - Long Term Debt Issuance (Details) $ in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2024	Aug. 31, 2024 CAD ($)	Jul. 31, 2024 USD ($)	Jun. 30, 2024 USD ($)	Apr. 30, 2024 USD ($)
Enbridge Inc. | Debt Instrument Interest Rate Terms Period One
Debt Instrument [Line Items]
Debt instrument maturity period (in years)	5 years 6 months
Spread on variable rate (in percent)	3.12%
Enbridge Inc. | Debt Instrument Interest Rate Terms Period Two
Debt Instrument [Line Items]
Debt instrument maturity period (in years)	9 years 9 months
Spread on variable rate (in percent)	2.97%
5.25% Senior Notes Due April 2027 | Enbridge Inc.
Debt Instrument [Line Items]
Interest rate (in percent)					5.25%
Principal Amount					$ 750
5.30% Senior Notes Due April 2029 | Enbridge Inc.
Debt Instrument [Line Items]
Interest rate (in percent)					5.30%
Principal Amount					$ 750
5.63% Senior Notes Due April 2034 | Enbridge Inc.
Debt Instrument [Line Items]
Interest rate (in percent)					5.63%
Principal Amount					$ 1,200
5.95% Senior Notes Due April 2054 | Enbridge Inc.
Debt Instrument [Line Items]
Interest rate (in percent)					5.95%
Principal Amount					$ 800
Fixed-to-Fixed Subordinated Notes Due March 2055 | Enbridge Inc.
Debt Instrument [Line Items]
Interest rate (in percent)				7.38%
Principal Amount				$ 500
Fixed-to-Fixed Subordinated Note Due June 2054 | Enbridge Inc.
Debt Instrument [Line Items]
Interest rate (in percent)				7.20%
Principal Amount				$ 700
4.21% medium-term notes due February 2030 | Enbridge Inc.
Debt Instrument [Line Items]
Interest rate (in percent)		4.21%
Principal Amount		$ 600
4.73% medium-term notes due August 2034 | Enbridge Inc.
Debt Instrument [Line Items]
Interest rate (in percent)		4.73%
Principal Amount		$ 800
5.32% medium-term notes due August 2054 | Enbridge Inc.
Debt Instrument [Line Items]
Interest rate (in percent)		5.32%
Principal Amount		$ 400
5.95% senior notes due July 2034 | Algonquin Gas Transmission, LLC
Debt Instrument [Line Items]
Interest rate (in percent)			5.95%
Principal Amount			$ 350

DEBT - Long Term Debt Repayment

DEBT - Long Term Debt Repayments (Details) € in Millions, $ in Millions, $ in Millions

1 Months Ended

7 Months Ended

9 Months Ended

Sep. 30, 2024 CAD ($)

Aug. 31, 2024 CAD ($)

Jul. 31, 2024 USD ($)

Jun. 30, 2024 USD ($)

Apr. 30, 2024 EUR (€)

Mar. 31, 2024 USD ($)

Feb. 29, 2024 USD ($)

Feb. 29, 2024 CAD ($)

Jul. 31, 2024 CAD ($)

Sep. 30, 2024 USD ($)

Sep. 30, 2024 CAD ($)

Sep. 30, 2024 EUR (€)

Long-Term Debt

Schedule of Long Term and Short Term Debt [Line Items]

Principal Amount

€ 23

$ 3,600

$ 800

€ 23

3.15% medium-term notes | Enbridge Gas Inc.

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

3.15%

Principal Amount

$ 215

3.98% senior Notes | Enbridge Pipelines (Southern Lights) L.L.C.

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

3.98%

Principal Amount

$ 42

8.20% Debentures | Enbridge Pipelines Inc.

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

8.20%

8.20%

Principal Amount

$ 200

4.01% Senior Notes | Enbridge Southern Lights LP

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

4.01%

4.01%

Principal Amount

$ 20

3.43% medium-term notes | Westcoast Energy Inc.

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

3.43%

3.43%

3.43%

3.43%

Principal Amount

$ 350

4.75% Senior Notes | Spectra Energy Partners, LP

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

4.75%

Principal Amount

$ 1,000

2.10% Senior Notes | Blauracke GmbH

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

2.10%

Principal Amount | €

€ 23

3.51% Senior Notes | Algonquin Gas Transmission, LLC

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

3.51%

3.51%

Principal Amount

$ 350

Enbridge Inc. | Floating rate notes

Schedule of Long Term and Short Term Debt [Line Items]

Principal Amount

$ 600

Spread on variable rate (in percent)

0.63%

0.63%

0.63%

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

Secured Overnight Financing Rate (SOFR) [Member]

Secured Overnight Financing Rate (SOFR) [Member]

Secured Overnight Financing Rate (SOFR) [Member]

Enbridge Inc. | 2.15% Senior Notes

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

2.15%

2.15%

Principal Amount

$ 400

Enbridge Inc. | 5.97% Senior Notes

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

5.97%

Principal Amount

$ 700

Period after issuance after which the instruments are callable (in years)

1 year

Enbridge Inc. | 3.50% Senoir Notes

Schedule of Long Term and Short Term Debt [Line Items]

Interest rate (in percent)

3.50%

Principal Amount

$ 500

DEBT - Fair Value Adjustment (D

DEBT - Fair Value Adjustment (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Disclosure [Abstract]
(Increase)/decrease to Interest expense	$ (9)	$ 12	$ (7)	$ 34

SHARE CAPITAL (Details)

SHARE CAPITAL (Details) $ / shares in Units, $ in Thousands			2 Months Ended
	May 15, 2024 CAD ($)	Sep. 08, 2023 CAD ($) $ / shares shares	Jun. 30, 2024 CAD ($) $ / shares shares	Jun. 30, 2024 $ / shares
ATM Program
Capital Unit [Line Items]
Common shares authorized for issuance under the ATM Program	$ 2,750,000
Public Offering
Capital Unit [Line Items]
Common shares authorized for issuance under the ATM Program		$ 4,600,000
Sale of stock, number of shares issued in transaction | shares		102,913,500
Offering price per share ( in cad per share) | $ / shares		$ 44.70
Common shares | ATM Program
Capital Unit [Line Items]
Common shares authorized for issuance under the ATM Program			$ 2,500,000
Sale of stock, number of shares issued in transaction | shares			51,298,629
Offering price per share ( in cad per share) | (per share)			$ 48.72	$ 35.77
Consideration received after commissions and other issuance costs			$ 2,480,000
Payments of stock issuance costs			$ 16,300

COMPONENTS OF ACCUMULATED OTH_3

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - CAD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Changes in AOCI
Balance at the beginning of the period	$ 64,483
Other comprehensive income/(loss) retained in AOCI	1,125	$ 380
Total before tax impact	1,175	428
Income tax on amounts retained in AOCI	4	(118)
Income tax on amounts reclassified to earnings	(10)	(3)
Tax impact	(6)	(121)
Balance at the end of the period	68,778	68,474
Interest rate contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings	22	63
Commodity contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings	(1)
Foreign exchange contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings	43
Other contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings		1
Total
Changes in AOCI
Balance at the beginning of the period	2,303	3,520
Balance at the end of the period	3,472	3,827
Cash Flow Hedges
Changes in AOCI
Balance at the beginning of the period	320	121
Other comprehensive income/(loss) retained in AOCI	15	447
Total before tax impact	36	511
Income tax on amounts retained in AOCI	(4)	(117)
Income tax on amounts reclassified to earnings	(3)	(6)
Tax impact	(7)	(123)
Balance at the end of the period	349	509
Cash Flow Hedges | Interest rate contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings	22	63
Cash Flow Hedges | Commodity contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings	(1)
Cash Flow Hedges | Other contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings		1
Excluded Components of Fair Value Hedges
Changes in AOCI
Balance at the beginning of the period	(23)	(35)
Other comprehensive income/(loss) retained in AOCI	(34)	11
Total before tax impact	9	11
Income tax on amounts retained in AOCI	8
Income tax on amounts reclassified to earnings	(10)
Tax impact	(2)	0
Balance at the end of the period	(16)	(24)
Excluded Components of Fair Value Hedges | Foreign exchange contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings	43
Net Investment Hedges
Changes in AOCI
Balance at the beginning of the period	(728)	(1,137)
Other comprehensive income/(loss) retained in AOCI	(357)	42
Total before tax impact	(357)	42
Tax impact	0	0
Balance at the end of the period	(1,085)	(1,095)
Cumulative Translation Adjustment
Changes in AOCI
Balance at the beginning of the period	2,653	4,348
Other comprehensive income/(loss) retained in AOCI	1,498	(128)
Total before tax impact	1,498	(128)
Tax impact	0	0
Balance at the end of the period	4,151	4,220
Equity Investees
Changes in AOCI
Balance at the beginning of the period	11	5
Other comprehensive income/(loss) retained in AOCI	3	8
Total before tax impact	3	8
Income tax on amounts retained in AOCI		(1)
Tax impact	0	(1)
Balance at the end of the period	14	12
Pension and OPEB Adjustment
Changes in AOCI
Balance at the beginning of the period	70	218
Other comprehensive (income)/loss reclassified to earnings	(14)	(16)
Total before tax impact	(14)	(16)
Income tax on amounts reclassified to earnings	3	3
Tax impact	3	3
Balance at the end of the period	$ 59	$ 205

RISK MANAGEMENT AND FINANCIAL_3

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Market Risk (Details)	Sep. 30, 2024
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 (in percent)	3.70%
Floating-To-Fixed interest rate swaps
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Average swap rate (in percent)	3.50%

RISK MANAGEMENT AND FINANCIAL_4

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Total Derivative Instruments (Details) - CAD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	$ (1,161)	$ (404)
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets
Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	$ (1,077)	(278)
Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(68)	(122)
Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(16)	(4)
Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	426	623
Derivative assets, Amounts Available for Offset	(189)	(335)
Derivative assets, Total Net Derivative Instruments	237	$ 288
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other current assets
Other current assets | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	386	$ 551
Other current assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	7	31
Other current assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	33	41
Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	314	463
Derivative assets, Amounts Available for Offset	(177)	(184)
Derivative assets, Total Net Derivative Instruments	$ 137	$ 279
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Deferred Costs and Other Assets	Deferred Costs and Other Assets
Deferred amounts and other assets | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	$ 294	$ 396
Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	20	51
Deferred amounts and other assets | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	16
Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(650)	(738)
Derivative liabilities, Amounts Available for Offset	189	335
Derivative liabilities, Total Net Derivative Instruments	$ (461)	$ (403)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Other current liabilities | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	$ (601)	$ (500)
Other current liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(194)
Other current liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(49)	(44)
Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(1,251)	(752)
Derivative liabilities, Amounts Available for Offset	177	184
Derivative liabilities, Total Net Derivative Instruments	$ (1,074)	$ (568)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Other long-term liabilities | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	$ (1,156)	$ (725)
Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(95)	(10)
Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(17)
Foreign exchange contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(901)	(152)
Foreign exchange contracts | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(885)	(148)
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)	(16)	$ (4)
Foreign exchange contracts | Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	74	139
Derivative assets, Amounts Available for Offset	(20)	(32)
Derivative assets, Total Net Derivative Instruments	54	107
Foreign exchange contracts | Other current assets | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	41	98
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	33	41
Foreign exchange contracts | Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	120	335
Derivative assets, Amounts Available for Offset	(81)	(122)
Derivative assets, Total Net Derivative Instruments	39	213
Foreign exchange contracts | Deferred amounts and other assets | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	120	319
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	0	16
Foreign exchange contracts | Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(301)	(128)
Derivative liabilities, Amounts Available for Offset	20	32
Derivative liabilities, Total Net Derivative Instruments	(281)	(96)
Foreign exchange contracts | Other current liabilities | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(252)	(84)
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	(49)	(44)
Foreign exchange contracts | Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(794)	(498)
Derivative liabilities, Amounts Available for Offset	81	122
Derivative liabilities, Total Net Derivative Instruments	(713)	(376)
Foreign exchange contracts | Other long-term liabilities | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(794)	(481)
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	(17)
Interest rate contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(163)	$ (156)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Interest rate contracts | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(93)	$ (52)
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
Total net financial asset/(liability)	(70)	$ (104)
Interest rate contracts | Derivative Instruments Used as Fair Value 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
Interest rate contracts | Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	21	$ 65
Derivative assets, Amounts Available for Offset	(7)	(32)
Derivative assets, Total Net Derivative Instruments	14	33
Interest rate contracts | Other current assets | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	16	34
Interest rate contracts | Other current assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	5	31
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	92	53
Derivative assets, Amounts Available for Offset	(59)	(21)
Derivative assets, Total Net Derivative Instruments	33	32
Interest rate contracts | Deferred amounts and other assets | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	72	2
Interest rate contracts | Deferred amounts and other assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	20	51
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	(15)	(186)
Derivative liabilities, Amounts Available for Offset	7	32
Derivative liabilities, Total Net Derivative Instruments	(8)	(154)
Interest rate contracts | Other current liabilities | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(15)	(3)
Interest rate contracts | Other current liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(183)
Interest rate contracts | Other current liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Interest rate contracts | Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(261)	(88)
Derivative liabilities, Amounts Available for Offset	59	21
Derivative liabilities, Total Net Derivative Instruments	(202)	(67)
Interest rate contracts | Other long-term liabilities | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(166)	(85)
Interest rate contracts | Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(95)	(3)
Interest rate contracts | Other long-term liabilities | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Commodity contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(98)	(96)
Commodity contracts | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(100)	(78)
Commodity contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	2	(18)
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	330	418
Derivative assets, Amounts Available for Offset	(162)	(270)
Derivative assets, Total Net Derivative Instruments	168	148
Commodity contracts | Other current assets | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	328	418
Commodity contracts | Other current assets | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	2	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	102	75
Derivative assets, Amounts Available for Offset	(37)	(41)
Derivative assets, Total Net Derivative Instruments	65	34
Commodity contracts | Deferred amounts and other assets | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	102	75
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	(334)	(423)
Derivative liabilities, Amounts Available for Offset	162	270
Derivative liabilities, Total Net Derivative Instruments	(172)	(153)
Commodity contracts | Other current liabilities | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(334)	(412)
Commodity contracts | Other current liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(11)
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	(196)	(166)
Derivative liabilities, Amounts Available for Offset	37	41
Derivative liabilities, Total Net Derivative Instruments	(159)	(125)
Commodity contracts | Other long-term liabilities | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(196)	(159)
Commodity contracts | Other long-term liabilities | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(7)
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	1	1
Derivative liabilities		(1)
Total net financial asset/(liability)	1	0
Derivative assets, Amounts Available for Offset	0	(1)
Derivative liabilities, Amounts Available for Offset		1
Derivative assets, Total Net Derivative Instruments	1	0
Derivative liabilities, Total Net Derivative Instruments		0
Other contracts | Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	1	1
Derivative liabilities		(1)
Total net financial asset/(liability)	1	0
Other contracts | Derivative Instruments Used as Cash Flow Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Derivative liabilities		0
Total net financial asset/(liability)	0	0
Other contracts | Derivative Instruments Used as Fair Value Hedges | Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Derivative liabilities		0
Total net financial asset/(liability)	$ 0	$ 0

RISK MANAGEMENT AND FINANCIAL_5

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Notional Principal or Quantity Information (Details) - Sep. 30, 2024 € in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions	USD ($) MWh MMBbls Bcf	GBP (£) MWh MMBbls Bcf	EUR (€) MWh MMBbls Bcf	JPY (¥) MWh MMBbls Bcf	CAD ($) MWh MMBbls Bcf
Foreign exchange contracts - forwards - purchase
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Derivative Notional Amount Outstanding	$ 1,195			¥ 84,800
Foreign exchange contracts - forwards - purchase | United States dollar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024	695
2025	500
2026	0
2027	0
2028	0
Thereafter	0
Foreign exchange contracts - forwards - purchase | Japanese yen
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 | ¥				0
2025 | ¥				84,800
2026 | ¥				0
2027 | ¥				0
2028 | ¥				0
Thereafter | ¥				¥ 0
Foreign exchange contracts - forwards - sell
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Derivative Notional Amount Outstanding	20,719	£ 99	€ 625
Foreign exchange contracts - forwards - sell | United States dollar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024	2,014
2025	5,327
2026	4,697
2027	4,271
2028	3,342
Thereafter	$ 1,068
Foreign exchange contracts - forwards - sell | GBP
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 | £		9
2025 | £		30
2026 | £		28
2027 | £		32
2028 | £		0
Thereafter | £		£ 0
Foreign exchange contracts - forwards - sell | Euro
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 | €			35
2025 | €			126
2026 | €			121
2027 | €			81
2028 | €			67
Thereafter | €			€ 195
Interest rate contracts - short-term borrowings
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024					$ 1,900
2025					2,236
2026					1,717
2027					675
2028					49
Thereafter					13
Derivative Notional Amount Outstanding					6,590
Interest rate contracts - short-term debt receive
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024					18
2025					0
2026					0
2027					0
2028					0
Thereafter					0
Derivative Notional Amount Outstanding					18
Interest rate contracts - long-term debt pay fixed rate
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024					300
2025					4,080
2026					723
2027					0
2028					0
Thereafter					0
Derivative Notional Amount Outstanding					5,103
Interest Rate Contract, Costless Collar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024					0
2025					1,858
2026					265
2027					104
2028					6
Thereafter					0
Derivative Notional Amount Outstanding					$ 2,233
Commodity contracts | Natural gas
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 (bcf / mmbbls) | Bcf	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000
2025 (bcf / mmbbls) | Bcf	101,000,000	101,000,000	101,000,000	101,000,000	101,000,000
2026 (bcf / mmbbls) | Bcf	60,000,000	60,000,000	60,000,000	60,000,000	60,000,000
2027 (bcf / mmbbls) | Bcf	28,000,000	28,000,000	28,000,000	28,000,000	28,000,000
2028 (bcf / mmbbls) | Bcf	9,000,000	9,000,000	9,000,000	9,000,000	9,000,000
Thereafter (bcf / mmbbls) | Bcf	7,000,000	7,000,000	7,000,000	7,000,000	7,000,000
Derivative Nonmonetary Notional Amount Outstanding | Bcf	212,000,000	212,000,000	212,000,000	212,000,000	212,000,000
Net purchase | Commodity contracts | Crude
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2025 (bcf / mmbbls) | MMBbls	22,000,000	22,000,000	22,000,000	22,000,000	22,000,000
2026 (bcf / mmbbls) | MMBbls	19,000,000	19,000,000	19,000,000	19,000,000	19,000,000
2027 (bcf / mmbbls) | MMBbls	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000
2028 (bcf / mmbbls) | MMBbls	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000
Thereafter (bcf / mmbbls) | MMBbls	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Derivative Nonmonetary Notional Amount Outstanding | MMBbls	36,000,000	36,000,000	36,000,000	36,000,000	36,000,000
Net purchase | Commodity contracts | Power
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 (MWH) | MWh	151,000,000	151,000,000	151,000,000	151,000,000	151,000,000
2025 (MWH) | MWh	31,000,000	31,000,000	31,000,000	31,000,000	31,000,000
Net sell | Commodity contracts | Crude
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 (bcf / mmbbls) | MMBbls	9,000,000	9,000,000	9,000,000	9,000,000	9,000,000
Net sell | Commodity contracts | Power
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2026 (MW/H) | MWh	26,000,000	26,000,000	26,000,000	26,000,000	26,000,000
2027 (MWH) | MWh	(51,000,000)	(51,000,000)	(51,000,000)	(51,000,000)	(51,000,000)
2028 (MW/H) | MWh	(49,000,000)	(49,000,000)	(49,000,000)	(49,000,000)	(49,000,000)
Thereafter (MWH) | MWh	(30,000,000)	(30,000,000)	(30,000,000)	(30,000,000)	(30,000,000)
Total (MWH) | MWh	(7,000,000)	(7,000,000)	(7,000,000)	(7,000,000)	(7,000,000)

RISK MANAGEMENT AND FINANCIAL_6

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Fair Value Derivatives (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Foreign Currency Fair Value Hedge Derivative [Line Items]
Realized gain/(loss) on derivative	$ 54	$ (97)	$ 15	$ (149)
Fair value hedges | Interest rate contracts
Foreign Currency Fair Value Hedge Derivative [Line Items]
Unrealized gain/(loss) on derivative	71	35	(21)	(107)
Unrealized gain/(loss) on hedged item	(67)	(35)	33	106
Realized gain/(loss) on derivative	(11)	(11)	36	(34)
Realized loss on hedged item	$ 0	$ 0	$ (79)	$ 0

RISK MANAGEMENT AND FINANCIAL_7

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Earnings and Comprehensive Income (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	$ (147)	$ 334	$ (9)	$ 487
Amount of (income)/loss reclassified from AOCI to earnings	22	41	64	64
Gain from AOCI expected to be reclassified			$ 2
Maximum term of hedging exposures to variability of cash flows (in years)			3 years
Total unrealized derivative fair value gain/(loss), net			$ (809)	270
Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	114	(865)	(809)	270
Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of (income)/loss reclassified from AOCI to earnings	12	0	43	0
Foreign exchange contracts | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	203	(650)	(736)	415
Foreign exchange contracts | Transportation and other services | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net			0	645
Foreign exchange contracts | Other income/(expense) | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net			(736)	(230)
Interest rate contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of (income)/loss reclassified from AOCI to earnings	10	40	22	63
Interest rate contracts | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	(161)	17	(39)	72
Commodity contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of (income)/loss reclassified from AOCI to earnings	0	1	(1)	0
Commodity contracts | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	70	(229)	(35)	(206)
Commodity contracts | Transportation and other services | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net			(14)	(85)
Commodity contracts | Commodity sales | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net			(91)	75
Commodity contracts | Commodity costs | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net			103	(136)
Commodity contracts | Operating and administrative expense | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net			(33)	(60)
Other contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of (income)/loss reclassified from AOCI to earnings	0	0	0	1
Other contracts | Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	2	(3)	1	(11)
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	(144)	313	4	423
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	5	20	20	56
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	0	(1)	1	(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	$ (8)	$ 2	$ (34)	$ 11

RISK MANAGEMENT AND FINANCIAL_8

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Liquidity and Credit Risk (Details) - CAD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
LIQUIDITY RISK AND CREDIT RISK
Rolling time period over which the Company forecasts cash requirements (in months)	12 months
Period of anticipated requirements for which the Company maintains sufficient liquidity through committed credit facilities (in years)	1 year
Derivative instruments
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	$ 723,000,000	$ 1,062,000,000
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	289,000,000	457,000,000
Derivative instruments | US financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	117,000,000	252,000,000
Derivative instruments | European financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	79,000,000	107,000,000
Derivative instruments | Asian financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	42,000,000	121,000,000
Derivative instruments | Other
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	$ 196,000,000	$ 125,000,000

RISK MANAGEMENT AND FINANCIAL_9

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - CAD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value of Derivatives
Total net financial asset/(liability)	$ (1,161)	$ (404)
Fair Value
Fair Value of Derivatives
Current derivative assets	426	623
Long-term derivative assets	314	463
Current derivative liabilities	(650)	(738)
Long-term derivative liabilities	(1,251)	(752)
Total net financial asset/(liability)	(1,161)	(404)
Foreign exchange contracts
Fair Value of Derivatives
Total net financial asset/(liability)	(901)	(152)
Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	74	139
Long-term derivative assets	120	335
Current derivative liabilities	(301)	(128)
Long-term derivative liabilities	(794)	(498)
Total net financial asset/(liability)	(901)	(152)
Interest rate contracts
Fair Value of Derivatives
Total net financial asset/(liability)	(163)	(156)
Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	21	65
Long-term derivative assets	92	53
Current derivative liabilities	(15)	(186)
Long-term derivative liabilities	(261)	(88)
Total net financial asset/(liability)	(163)	(156)
Commodity contracts
Fair Value of Derivatives
Total net financial asset/(liability)	(98)	(96)
Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	330	418
Long-term derivative assets	102	75
Current derivative liabilities	(334)	(423)
Long-term derivative liabilities	(196)	(166)
Total net financial asset/(liability)	(98)	(96)
Other contracts
Fair Value of Derivatives
Total net financial asset/(liability)	1	0
Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	1	1
Current derivative liabilities		(1)
Total net financial asset/(liability)	1	0
Level 1 | Fair Value
Fair Value of Derivatives
Current derivative assets	59	142
Long-term derivative assets	1	0
Current derivative liabilities	(42)	(136)
Long-term derivative liabilities	(1)	0
Total net financial asset/(liability)	17	6
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	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	59	142
Long-term derivative assets	1	0
Current derivative liabilities	(42)	(136)
Long-term derivative liabilities	(1)	0
Total net financial asset/(liability)	17	6
Level 1 | Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Current derivative liabilities		0
Total net financial asset/(liability)	0	0
Level 2 | Fair Value
Fair Value of Derivatives
Current derivative assets	185	308
Long-term derivative assets	231	412
Current derivative liabilities	(407)	(391)
Long-term derivative liabilities	(1,078)	(608)
Total net financial asset/(liability)	(1,069)	(279)
Level 2 | Foreign exchange contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	74	139
Long-term derivative assets	120	335
Current derivative liabilities	(301)	(128)
Long-term derivative liabilities	(794)	(498)
Total net financial asset/(liability)	(901)	(152)
Level 2 | Interest rate contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	21	65
Long-term derivative assets	92	53
Current derivative liabilities	(15)	(186)
Long-term derivative liabilities	(261)	(88)
Total net financial asset/(liability)	(163)	(156)
Level 2 | Commodity contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	89	103
Long-term derivative assets	19	24
Current derivative liabilities	(91)	(76)
Long-term derivative liabilities	(23)	(22)
Total net financial asset/(liability)	(6)	29
Level 2 | Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	1	1
Current derivative liabilities		(1)
Total net financial asset/(liability)	1	0
Level 3
Fair Value of Derivatives
Total net financial asset/(liability)	(109)
Level 3 | Fair Value
Fair Value of Derivatives
Current derivative assets	182	173
Long-term derivative assets	82	51
Current derivative liabilities	(201)	(211)
Long-term derivative liabilities	(172)	(144)
Total net financial asset/(liability)	(109)	(131)
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	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	182	173
Long-term derivative assets	82	51
Current derivative liabilities	(201)	(211)
Long-term derivative liabilities	(172)	(144)
Total net financial asset/(liability)	(109)	(131)
Level 3 | Other contracts | Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Current derivative liabilities		0
Total net financial asset/(liability)	$ 0	$ 0

RISK MANAGEMENT AND FINANCIA_10

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Level 3 Inputs (Details) $ in Millions	Sep. 30, 2024 CAD ($) $ / MWh $ / bbl $ / MillionsofBTU-MMBTU	Dec. 31, 2023 CAD ($)
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (1,161)	$ (404)
Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(1,161)	(404)
Level 3
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(109)
Level 3 | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(109)	$ (131)
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	$ (5)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Minimum Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MillionsofBTU-MMBTU	2.65
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Maximum Price/ Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MillionsofBTU-MMBTU	8.64
Market approach valuation technique | Level 3 | Commodity contracts - financial | Natural gas | Weighted Average Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MillionsofBTU-MMBTU	4.47
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	$ (10)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Minimum Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / bbl	68.33
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Maximum Price/ Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / bbl	93.84
Market approach valuation technique | Level 3 | Commodity contracts - financial | Crude | Weighted Average Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / bbl	89.52
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	$ (75)
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Minimum Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MWh	28.63
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Maximum Price/ Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MWh	162.60
Market approach valuation technique | Level 3 | Commodity contracts - financial | Power | Weighted Average Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MWh	60.57
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	$ (10)
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Minimum Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MillionsofBTU-MMBTU	0.05
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Maximum Price/ Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MillionsofBTU-MMBTU	10.03
Market approach valuation technique | Level 3 | Commodity contracts - physical | Natural gas | Weighted Average Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MillionsofBTU-MMBTU	3.66
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	$ 25
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Minimum Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / bbl	70.48
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Maximum Price/ Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / bbl	111.10
Market approach valuation technique | Level 3 | Commodity contracts - physical | Crude | Weighted Average Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / bbl	90.27
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	$ (73)
Market approach valuation technique | Level 3 | Commodity contracts - physical | Power | Minimum Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MWh	22.77
Market approach valuation technique | Level 3 | Commodity contracts - physical | Power | Maximum Price/ Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MWh	144.39
Market approach valuation technique | Level 3 | Commodity contracts - physical | Power | Weighted Average Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent) | $ / MWh	61.52
Market approach valuation technique | Level 3 | Commodity Options | Natural gas | Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ 39
Market approach valuation technique | Level 3 | Commodity Options | Natural gas | Minimum Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent)	0.06
Market approach valuation technique | Level 3 | Commodity Options | Natural gas | Maximum Price/ Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent)	0.70
Market approach valuation technique | Level 3 | Commodity Options | Natural gas | Weighted Average Price/Volatility
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H, percent)	0.46

RISK MANAGEMENT AND FINANCIA_11

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Changes in Level 3 (Details) - CAD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Changes in net fair value of derivative assets and liabilities classified as Level 3
Level 3 net derivative liability at beginning of period	$ (131)	$ (136)
Total gain/(loss), unrealized
Included in earnings	1	(205)
Included in OCI	19	0
Settlements	2	119
Level 3 net derivative liability at end of period	$ (109)	$ (222)

RISK MANAGEMENT AND FINANCIA_12

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Other Financial Instruments (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value of Other Financial Instruments
FMVA investments	$ 178		$ 178		$ 173
Restricted long-term investments and cash	959		959		717
Long-term debt, carrying value	94,800		94,800		81,200
Long-term debt	94,500		94,500		78,100
Debt Securities
Fair Value of Other Financial Instruments
Debt securities, available-for-sale, amortized cost	248		248		279
Equity Funds And Debt Securities
Fair Value of Other Financial Instruments
Unrealized gain on investment	14	$ (8)	35	$ 14
Level 1
Fair Value of Other Financial Instruments
Restricted long-term investments and cash	447		447		263
Level 1 | Debt Securities
Fair Value of Other Financial Instruments
Fair value of investments	334		334		287
Level 2
Fair Value of Other Financial Instruments
Restricted long-term investments and cash	512		512		454
Restricted long-term investments, cost basis	529		529		486
Level 2 | Debt Securities
Fair Value of Other Financial Instruments
Fair value of investments	255		255		284
Fair Value
Fair Value of Other Financial Instruments
Restricted long-term investments and cash	959		959		$ 717
Unrealized holding gains (losses)	$ 46	$ (44)	45	(7)
Net investment hedges
Fair Value of Other Financial Instruments
Unrealized foreign exchange (loss) gain on translation of United States dollar denominated debt			(244)	86
Realized losses associated with settlement of debt			$ 113	$ 44

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (in percent)	17.70%	17%	22.30%	20.50%

OTHER INCOME_(EXPENSE) (Details

OTHER INCOME/(EXPENSE) (Details) - CAD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Realized foreign currency gain/(loss)	$ (34)	$ 31	$ 80	$ 177
Unrealized foreign currency gain/(loss)	255	(652)	(816)	(348)
Net defined pension and OPEB credit	44	34	133	101
Other	111	122	397	282
Total	$ 376	$ (465)	$ (206)	$ 212