Toll Settlement receives National Energy Board Approval
Enbridge announced on June 28 that the National Energy Board (NEB) has approved the 10-year Competitive Toll Settlement (CTS) agreement reached with shippers on its crude oil mainline system.
The NEB determined that the 2011 CTS is consistent with the revised guidelines for negotiated settlements. The CTS will be effective July 1, 2011.
"We are pleased with the decision of the NEB and look forward to using this long-term agreement to the mutual benefit of Enbridge and our shippers," said Enbridge President and Chief Executive Officer, Patrick D. Daniel. "The CTS will provide a simplified toll structure, certainty and stability for crude volumes received in Canada, as well as competitive long-term tolls for the Enbridge Mainline System."
The CTS covers the local tolls to be charged for service on the Canadian portion of the mainline system. Local tolls for service on the U.S. portion of the system, held by Enbridge Energy Partners (EEP), will not be affected by the CTS and will continue to be established by EEP's existing toll agreements. The CTS also provides for an International Joint Tariff (IJT) for crude oil shipments originating in Canada on the EPI system and delivered in the U.S. off the EEP system. The IJT is designed to provide mainline shippers with a stable and competitive long-term toll, preserving and enhancing throughput on both the EPI and EEP systems.
More information about the Competitive Toll Settlement is available on enbridge.com.
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