Enbridge Nears Completion of US Gas Utilities Takeover, Eyes Balanced Portfolio

Enbridge Inc. is closer to finalizing its $14 billion acquisition of three US gas utilities from Dominion Energy, potentially becoming the largest gas utility in the U.S.

• Completion awaits remaining state and federal regulatory approvals.

• Deal strengthens Enbridge's gas distribution presence, aiming for 50% gas/renewables and 50% liquids mix.

• 2023 profits and EBITDA grew year-on-year, driven by pipeline volumes, utility rates, and favorable currency exchange.

• 2024 outlook projects stable EBITDA and capital expenditure, primarily driven by recent acquisitions and assets.

• Quarterly dividend increased by 3.1% to reflect growth prospects.