Enbridge Inc.

Enbridge Inc.

June 28, 2011 09:03 ET

Enbridge Receives National Energy Board Approval for New 10-Year Toll Agreement on Crude Oil Mainline System

CALGARY, ALBERTA--(Marketwire - June 28, 2011) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today 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 held by wholly owned subsidiary Enbridge Pipelines Inc. (EPI). Local tolls for service on the U.S. portion of the system, held by affiliate Enbridge Energy Partners L.P. (EEP) (NYSE: 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 details of the CTS are available at: www.enbridge.com/DeliveringEnergy/Shippers/Competitive-Tolling-Settlement

Enbridge Inc., a Canadian company, is a North American leader in delivering energy and one of the Global 100 Most Sustainable Corporations. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a growing involvement in the natural gas transmission and midstream businesses, and is expanding its interests in renewable and green energy technologies including wind and solar energy, hybrid fuel cells and carbon dioxide sequestration. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. Enbridge employs approximately 6,400 people, primarily in Canada and the U.S. ranked as one of Canada's Greenest Employers, and one of the Top 100 Companies to Work for in Canada. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit enbridge.com

Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Enbridge believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings and American SEC filings. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Except as may be required by applicable securities laws, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

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