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Enbridge Mainline open season stopped by regulator

  • The Canada Energy Regulator halts Enbridge's (NYSE:ENB) Mainline open season, citing the fairness of the open season process and the "perception of abuse" of the company's market power.
  • The CER says the company will not be allowed to offer contracted space on the Mainline - at nearly 3M bbl/day, North America's largest pipeline system - until it approves.
  • Some major producers, including Canadian Natural Resources (NYSE:CNQ) and Suncor Energy (NYSE:SU) had urged CER to intervene and protested the conditions offered by ENB, and the regulator agreed, noting ENB's control of much of the pipelines out of western Canada and the lack of alternatives for oil shippers.

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SymbolLast Price% Chg
ENB--
Enbridge Inc.
CNQ--
Canadian Natural Resources Limited
SU--
Suncor Energy Inc.