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Enbridge, the pipeline operator, expects a higher core profit in 2026

Enbridge, the Canadian pipeline operator, forecast higher core profits for 2026 as it expects to profit from strong demand and new project entering service.

The company predicted an adjusted core income of C$20.2billion ($14.49billion) to C$20.8billion, compared to expectations between C$19.4billion and C$20billion for this year.

According to the U.S. Energy Information Administration, increasing demand for AI-fueled power centers and accelerating electrification will push U.S. electricity demand to record highs in 2025-2026.

In a press release, CEO Gregory Ebel stated that "we also expect strong growth by 2026 due to recent rate settlements and cases in Gas Distribution and Gas Transmission."

Last year, the Calgary-based company acquired three Dominion Energy utilities -- East Ohio Gas (formerly Questar Gas), Public Service Co. of North Carolina, and Public Service Co. of North Carolina – in a deal worth $14 billion, including debt.

Enbridge has also increased its quarterly dividend to 97 Canadian Cents per share, with effect from March 1.

(source: Reuters)