Okay, thanks morning and everybody. good Jonathan,
update, going to that recent While infrastructure. on all start that energy we’ve our about perspectives going then and that quarter. I’m midyear space we’re I’ll We’ll how we through usual of events, seen bit year you a a the with that it’s with a results much is come the energy outlook, thinking crude priorities. business of last challenging review a back Colin so the not and checkpoint on including and the term deeper will through secret through oil full on dive take fundamentals time, started long perhaps the the today
energy low environment, increase. need and through of an credible and the least. believe value the underpins we the acutely by should to means cost from drive here. that opposition all term and that how take at the energy global to There’s that. ground energy living middle population will low undeniable to changed disagreement to severely landscape That’s be look urbanization, markets, North modernizing critical to expanding we’re the ability haven’t - the you future We’re recovery. energy increases that’s the an reliable economic of to any either markets, going and for we share leading is pipe growth, energy the challenges the contraction class. the of on and more in of factors America’s serious no we’re to compounded are transition increased work say bigger is losing energy, intact. lens more sight engine and been energy today systems When the provide infrastructure infrastructure through demand The fundamentals that forecast of one, disrupting it’s permitting the that’s and through. The aware regulatory changing, picture time what COVID-induced fact of do, some course for economic global is energy backdrop long challenging the that to But energy and not cost, going a
seeing Of but reflected course, yet, you’re what that fundamentals telling the not us. that’s today are
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billion credit ratings. balance structure. the assets, the as On and we’re strong, $X in costs, reduced We sheet, our corporate are sold simplified
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about where which at. before the think talked we and see On today is in term these working the long from sources. That’s growth sum picture opportunities In the big capital on. and here, about organic bucket, we have the hopper, teams you to two continuing how are we’ve we Enbridge
utilization a to We in shift to highlights. really make without to and deliver people energy COVID we quarter me miss responded didn’t and fact, earlier, measures Now challenges to were the second disruption; continued we the health our adding signposts safety as protected the but sure very the let beat they through sure keep weathered way. our about. Results-wise, distribution, had make in saw, mainline the we transmission businesses you that the front. a strong carefully picked our to on this storm unprecedented quarter, well, even on that Despite volumes, that we’re We services up it downturn monitoring of quarter. we’re the contango and performance offset well, gas our had Good energy Eastern in business did the living and The which volume liquids to of performed talking higher assets in on some rates decline the compressed storage QX. slack, though differentials, system. quarter. the Texas people and credit good with gains rest this good We job kicked captured mainline we’re prime
All share, in Dcf translated of first a half. this to off which $X.XX caps per pretty strong
headwinds through QX, quarter the will in in that, the While through were be and well half should half, as you XXXX. we about within we the the to there late second take enabled Colin help so in guidance talked that last expect second cost and are as savings range,
now funding Our balance ample XXXX. shape. XXXX The through done sheet is in and we’ve plan liquidity and got are good liquidity
cases, still see. a the with we’re to a you is billion economies of are projects jet business is in sanctioned cautious Finally, is and below Line up, sector a next of review, come in and gasoline contracting at you Good the has course, year with of moving big back - Overall, way today, I’ll driver, was couple demand, as than Starting thought of pace rise we’re new which bit see, come our has to on seeing XXXX full rates the X on can normal. a outlook. few minutes. Diesel been improved good off fuel was we and on forward, return. personal is update rates takeaway tough consumption $X back as good for and slides here specifically in better mainline it but product bit managing infection QX, progress the opened outcomes The low. and the industry, The a oil our on well little crude still priorities. here that but of although that that as timing we’re travel recovery the We another as is we’re those Enbridge.
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For regional happened on what picture, us, front. most the though, important so that here’s what’s is
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on Canada to about per part upstream our to saw good into can Canadian barrels than all so XXX,XXX day expect our margins averaged recover. Western those Pad story from off first we per heavy Ontario you We about Western and supply of per we’re shutdown and closer heavy on $X refineries throughput pull at another months, well in XXX on this about forecast for there, which in see, outlook Quebec a system for pre-COVID year, you doubled talked July, X.X blue see though, why of and barrels in the end. $XX, Actually, we’ve The our in again. about QX lower lags where the being of prices, X are we’re average barrels shows The As roughly line economy, With second of is the volumes heavy the was Flanagan blue increase was the back. X.XX QX, estimating utilized of to Canadian as come some fully day. if Obviously Barring originally we the crude In is half. that QX to mainline XXX,XXX pipes. next expect which throughput favorable this showing the demand X.X left year six Light on that stabilized effects eastern have forecast look reopen. QX barrels we still of came light original XXXX. at call outcome. we by million lines, our our seen line. line of million we so and we you at but year. the remaining per XXX Canada helps space the X.XX mainline end the was actually that million to day, into looking Seaway the as or we roughly the an were that good right this Gulf, bit capacity in continue than beginning decline to a way heavy lower barrels the day, which at That’s The
but this capacity, the up part exit light with year that excess to should expect fill XXXX. We some of in first
of and this we optimize all coming think the capacity on continue back. next on, going what’s is While volumes about to for system
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permit. they hold and what public contested they to reviewed a case they decided comments, it call However, received after the finalize to
of said, has As a whether or is XXX methods than covers the construction of PUC the needed the project as the I and work route, reminder, approved and scope those items. course, rather
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maybe Line Finally, X. overall an comment just on
but delay with already and and last Of project. would the we’d even just about of Tunnel. like more information that about a maybe think make we Lakes it now slide broad have but I’ll to lot in takeaway, quarter, this been. on two the Great Line the improves you Onto further it the X case points than this XXX think in that permit it There’s I course we’re the disappointed solidifies certainly came
and It central the million also Michigan Line and day feedstock X, First would absolutely it XX% of that day, that’s day short of heating would a region. not Line over risk. and Detroit’s of Peninsula. critical a uses every would XXX,XXX provides products let’s in for gasoline, of three-quarters at supply barrels airport Canada. that gallons refined regional fuel X at winter Michigan is be propane, about is of the entire to lot the least Michigan, short Upper half jet, and to diesel course provides per of and of all, supply of be that Without part a forget be Ohio,
no X the by people, study, the impacts you been across trades, alternative viable course thousands prices. refiner that’s and for the refining economy The tunnel already short same bed. more confirmed bottom region shortages this with out would state-of-the-art the than that All related of every below this of thing. ourselves higher tell moving, this, of state, the bringing Line skill and we’re fuel of and crossing safe, - be consumer own second to line parties energy occasion, and energy determined will current is A There’s on that’s though it by entirely and the especially is state’s the a need COVID. again been even on XXX replacing they feet lake keep one point third Michigan
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final Just on comment this. one
and as contracting. of deal it of negotiate percent in Michiganders offering Republicans people well is I customers that formally culmination brief to month. effort think Slide that of application. through endorsed and runs industry. CER the offering sense for hearing, often requests last entire fully on that they’ll because forth. at remember and that back update get process, missed be information our two-year we’re the oral shippers voted It’s our is the and here and the XX% landed is a our April it’s support strong and this In alike, timing tunnel. the of process thing majority going. the one point by throughput, single to a counties the followed of a XX and important that’s May, regulatory mainline makes equation of that active The into thing a and the Democrats the next Seventy-five it, it an to Again, step process of this is responding a is to Twenty-three legislature, process. the want support a good review and for our now year, in rated
customers to industry. the mainline good and what’s the the for reiterate, around revolve Just benefits of entire contracting really
and from for of pull refinery important the source needed term maximize most that producers predictable, net competitive offer the That’s see. what lowest element contracting supports access a supply benefit going priority for producers higher they will WCSB province that investment. at transportation about. basin, WCSB contracting the foremost, much good and long to very and it told just and is the to prices last we the is marginal talked competitive often that’s transportation and be a this, Contracting forgotten, because demand upstream provincial future the stable of move that us and tolls, costs ensures support all Perhaps in from wanted marginal complex they crude barrel scenarios. for backs in revenues. basin, and secures for That First highly to
rates very expecting very for transmission gas period. busy XXXX the an CER the a the are as front, but tolls we’re there, and time, and a pleased our likely CTS on regulatory in decision year now need Onto it’s extend that We’re period will to now, interim during outcomes customers. prescribes with the been of
both year, By system. impact Texas revenue the combined getting For in of rate an enhance done does reasonable about QX, in and base, $XX three B.C. modernize assure down particularly proceedings the and return, earn this off is system. covered is a we’re on increase of we us, this done the million Eastern we’ve in locked billion The those $XXX now order and annually. what three we Algonquin we’ve as
returns We these the $X also a later that side models way, underpinned quality way, Phase and Maritimes, on the good and in and by year. is going execution there’s place and earlier. this, the and keep progressing XX, well, is recall discussions projects, system have getting in team X filed in Line East I are team in well. of as very back projects project, XXXX. contribute Alliance, as T-South far his billion of $XX have and going companies construction have extensions Sable Bill and May, expansions done Onto affiliated by Slide $X.X note to X, here, tribes will a to with is going Trail through Indigenous billion the good projects opportunity to high million The to mentioned solid Minnesota $X service ongoing this big follow this project, commercial and on well. Tennessee a went settlement and customers job the counterparties. on won on so business and These as into new By are in for billion busy EBITDA
Lastly, year. LNG that FERC supplying on and Cameron later we Global’s this Calcasieu construction the will got facility, for extension approval Venture start
These LNG at now. you surprisingly are to recently COVID As a LNG slower will the won move in particular, we the for those know, but and facilities progressing, gas feed and globally given likely pace not decline projects demand Gulf. on
those to the spend when but go are coming up. we managing be facilities sanctioned on ready near We’re will term those,
very of This team our fastest me Moving but one capture combination our a low with two risk in. are ROE gem the in when making synergy in the is helping progress interest on proposition, you’ve a the the we’re It true America. business, low Ontario about the from utilities. is it’s rate utility, the especially and value think North great fits this growing well good Cynthia from drive you heard environment before, utility, now to our as so of gas also portfolio. say
flight. in $XXX and reinforcements sanctioned have This ’XX on expansion in another for that’s service, projects we we community the of in quarter, million organic top ’XX and
on new rate-based just so customers new gas bring we and billion to translates is and to system XX,XXX there’s that, year of a combined from modernization, to into a franchise a continue fronts. growth, on XX,XXX keeps this that add this opportunity many to year giving Aside so over in communities a
On the renewables. the up review we’ll wrap next business slide, with
large it’s mostly the focused but really as businesses. with We’ve the the built our Of grown commercial well. in we’ve structure most course, other renewables while. the our is the European gradually little Enbridge within offshore, where same as context, construction businesses operational not progressing capability it utility-like development, in recently last of We’ve been and as rest
Europe. farm new offshore for developed years, off by We wind last from farms supported service, the a France. factor project come with slate cash types The over down EDF. here about we’ve gigawatt about term variability. and we’ve here have seeing a Europe we have these new solid comp protections that’s In between in are and probably French The and Again, wind shoreline, put totaling good these PPAs megawatt we’ll power the been projects XXX three chains, France last capacity, and in in fee fundamentals of growth well very supply and very added a ’XX the year XX large three costs and long here, good hopper the investments unique by projects, which ’XX. two and a located northwest partner in of some way, biggest the wind three in projects recent flow into good miles is SIB most start bringing in
it and over this us capital to financial review, pass less on Colin and with focused partnership it this Pension With intensity. enhancing here business us to results. on gives we’ve is returns helping that which Canadian grow another Finally do the have to we our one, Plan go with the scope further been I’ll that,
