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REVENUE (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Major Products and Services
Major Products and Services
Liquids PipelinesGas TransmissionGas Distribution and StorageRenewable Power GenerationEliminations and OtherConsolidated
Year ended December 31, 2024
(millions of Canadian dollars)      
Transportation revenue
11,958 5,279 284 — — 17,521 
Storage and other revenue
255 573 509 — — 1,337 
Gas distribution sales
— — 6,734 — — 6,734 
Electricity and transmission revenue
— — — 189 — 189 
Commodity sales
— 158 — — — 158 
Total revenue from contracts with customers
12,213 6,010 7,527 189 — 25,939 
Commodity sales
25,689 99 — — 1,072 26,860 
Other revenue1,2
281 70 4 319 — 674 
Intersegment revenue
— 20 11 6 (37)— 
Total revenue
38,183 6,199 7,542 514 1,035 53,473 

Liquids PipelinesGas TransmissionGas Distribution and StorageRenewable Power GenerationEliminations and OtherConsolidated
Year ended December 31, 2023
(millions of Canadian dollars)      
Transportation revenue3
11,875 5,302 212 — — 17,389 
Storage and other revenue257 461 355 — — 1,073 
Gas distribution sales3
— — 5,461 — — 5,461 
Electricity and transmission revenue— — — 259 — 259 
Commodity sales— 17 — — — 17 
Total revenue from contracts with customers
12,132 5,780 6,028 259 — 24,199 
Commodity sales17,494 — — — 1,470 18,964 
Other revenue1,2
257 72 (58)215 — 486 
Intersegment revenue(1)2 6 3 (10)— 
Total revenue29,882 5,854 5,976 477 1,460 43,649 

Liquids PipelinesGas TransmissionGas Distribution and StorageRenewable Power GenerationEliminations and OtherConsolidated
Year ended December 31, 2022
(millions of Canadian dollars)      
Transportation revenue3
11,283 5,012 198 — — 16,493 
Storage and other revenue235 350 308 — — 893 
Gas gathering and processing revenue
— 22 — — — 22 
Gas distribution sales3
— — 6,227 — — 6,227 
Electricity and transmission revenue
— — — 281 — 281 
Total revenue from contracts with customers
11,518 5,384 6,733 281 — 23,916 
Commodity sales25,740 — — — 3,410 29,150 
Other revenue1,2
(81)39 (20)305 — 243 
Intersegment revenue(3)3 16 (4)(12)— 
Total revenue37,174 5,426 6,729 582 3,398 53,309 
1Includes realized and unrealized gains and losses from our hedging program which were a net gain of $23 million and losses of $97 million and $431 million for the years ended December 31, 2024, 2023 and 2022, respectively.
2Includes revenues from lease contracts. Refer to Note 26 - Leases.
3These balances reflect a transfer from Transportation revenue to Gas distribution sales of $602 million and $584 million for the years ended December 31, 2023 and 2022, respectively.
Recognition and Measurement of Revenue
Liquids PipelinesGas Transmission Gas Distribution and StorageRenewable Power GenerationConsolidated
Year ended December 31, 2024
(millions of Canadian dollars)    
Revenue from products transferred at a point in time— 158 137 — 295 
Revenue from products and services transferred over time1
12,213 5,852 7,390 189 25,644 
Total revenue from contracts with customers
12,213 6,010 7,527 189 25,939 

Liquids PipelinesGas TransmissionGas Distribution and StorageRenewable Power GenerationConsolidated
Year ended December 31, 2023
(millions of Canadian dollars)    
Revenue from products transferred at a point in time— 17 138 — 155 
Revenue from products and services transferred over time1
12,132 5,763 5,890 259 24,044 
Total revenue from contracts with customers
12,132 5,780 6,028 259 24,199 

Liquids PipelinesGas TransmissionGas Distribution and StorageRenewable Power GenerationConsolidated
Year ended December 31, 2022
(millions of Canadian dollars)    
Revenue from products transferred at a point in time— — 127 — 127 
Revenue from products and services transferred over time1
11,518 5,384 6,606 281 23,789 
Total revenue from contracts with customers
11,518 5,384 6,733 281 23,916 
1Revenue from crude oil and natural gas pipeline transportation, storage, natural gas gathering, compression and treating, natural gas distribution, natural gas storage services and electricity sales.
Schedule of Contract Balances
Contract ReceivablesContract AssetsContract Liabilities
(millions of Canadian dollars)
Balance as at December 31, 20243,764 330 2,828 
Balance as at December 31, 20232,802 400 2,591 
Schedule of Performance Obligations
Performance Obligations
SegmentNature of Performance Obligation
Liquids Pipelines
•Transportation and storage of crude oil and natural gas liquids (NGL)
Gas Transmission
•Transportation, storage, gathering, compression and treating of natural gas
•Transportation of crude oil and NGL
•Sale of renewable natural gas and its attached environmental attributes
Gas Distribution and Storage
•Supply and delivery of natural gas
•Transportation of natural gas
•Storage of natural gas
Renewable Power Generation
•Generation and transmission of electricity
•Delivery of electricity from renewable energy generation facilities
Schedule of Revenue Allocated to Remaining Performance Obligations
The following table presents our estimated revenue allocated to remaining performance obligations for contracted revenue that has not yet been recognized, that is expected to be recognized in the following periods:
Total1 year2-5 yearsThereafter
(billions of Canadian dollars)
Expected revenue62.6 10.4 25.2 27.0