v3.25.0.1
REGULATORY MATTERS (Tables)
 12 Months Ended
Dec. 31, 2024
Regulated Operations [Abstract]  
Schedule of Regulatory Assets
Accounting for rate-regulated activities has resulted in the recognition of the following regulatory assets and liabilities in the Consolidated Statements of Financial Position.
December 31,20242023Recovery/Refund
Period Ends
(millions of Canadian dollars)
Current regulatory assets
Purchase gas variance
74 15 2025
Under-recovery of fuel costs
4 75 2025
Deferred projects costs1
90 — 2025
Other current regulatory assets
304 380 2025
Total current regulatory assets2 (Note 9)
472 470 
Long-term regulatory assets
Deferred income taxes3
4,698 4,456 Various
Deferred projects costs1
1,045 — Various
Long-term debt4
318 348 2032-2046
Negative salvage5
136 180 Various
Demand-side management costs
237 54 Various
Pension plan receivable6
266 1 Various
Other long-term regulatory assets
447 198 Various
Total long-term regulatory assets2
7,147 5,237 
Total regulatory assets
7,619 5,707 
Current regulatory liabilities
Purchase gas variance
292 31 2025
Regulatory liability related to US income taxes7
44 — 2025
Other current regulatory liabilities
280 276 2025
Total current regulatory liabilities8 (Note 16)
616 307 
Long-term regulatory liabilities
Future removal and site restoration reserves9
2,964 1,693 Various
Regulatory liability related to US income taxes7
2,021 854 Various
Pipeline future abandonment costs (Note 23)
826 745 Various
Pension plan payable6
59 143 Various
Other long-term regulatory liabilities
242 86 Various
Total long-term regulatory liabilities8
6,112 3,521 
Total regulatory liabilities
6,728 3,828 
1Represents the amounts anticipated to be collected from customers in East Ohio’s service areas for rider projects, including CEP, PIR and costs related to the Pipeline Safety Management Program. The recovery periods for these expenditures vary according to the stipulations outlined in the respective riders. For Enbridge Gas North Carolina, these amounts relate to pipeline integrity management which represent operating costs incurred to comply with federal regulatory requirements related to natural gas pipelines and have been deferred pending future approval of rate recovery.
2Current regulatory assets are included in Other current assets, while long-term regulatory assets are included in Deferred amounts and other assets.
3Represents the regulatory offset to deferred income tax liabilities to the extent that it is expected to be included in future regulator-approved rates and recovered from customers. The recovery period depends on the timing of the reversal of temporary differences. In the absence of rate-regulated accounting, this regulatory balance and the related earnings impact would not be recorded. The balance as at December 31, 2024 is net of regulatory deferred tax write-offs.
4Represents our regulatory offset to the fair value adjustment to debt acquired in our merger with Spectra Energy Corp. (Spectra Energy). The offset is viewed as a proxy for the regulatory asset that would be recorded in the event such debt was extinguished at an amount higher than the carrying value.
5The negative salvage balance represents the recovery in future rates of the actual cost of removal of previously retired or decommissioned plant assets, as approved by the FERC.
6Represents the regulatory offset to our pension liability to the extent that it is expected to be included in regulator-approved future rates and recovered from customers. The settlement period for this balance is not determinable. In the absence of rate-regulated accounting, this regulatory balance and the related pension expense would be recorded in earnings and OCI.
7The regulatory liability related to US income taxes resulted from the US tax reform legislation dated December 22, 2017. These balances will be refunded to customers in accordance with the respective rate settlements approved by the FERC for our US Gas Transmission pipelines and by the respective state utility commission for each US Gas Distribution franchise.
8Current regulatory liabilities are included in Other current liabilities, while long-term regulatory liabilities are included in Other long-term liabilities.
9Future removal and site restoration reserves consists of amounts collected from customers, with the approval of the respective regulatory authorities, to fund future costs of removal and site restoration relating to property, plant and equipment. These costs are collected as part of the depreciation expense charged on property, plant and equipment that is reflected in rates. The settlement of this balance will occur over the long-term as costs are incurred. In the absence of rate-regulated accounting, depreciation rates would not include a charge for removal and site restoration and costs would be charged to earnings as incurred with recognition of revenue for amounts previously collected.
Schedule of Regulatory Liabilities
Accounting for rate-regulated activities has resulted in the recognition of the following regulatory assets and liabilities in the Consolidated Statements of Financial Position.
December 31,20242023Recovery/Refund
Period Ends
(millions of Canadian dollars)
Current regulatory assets
Purchase gas variance
74 15 2025
Under-recovery of fuel costs
4 75 2025
Deferred projects costs1
90 — 2025
Other current regulatory assets
304 380 2025
Total current regulatory assets2 (Note 9)
472 470 
Long-term regulatory assets
Deferred income taxes3
4,698 4,456 Various
Deferred projects costs1
1,045 — Various
Long-term debt4
318 348 2032-2046
Negative salvage5
136 180 Various
Demand-side management costs
237 54 Various
Pension plan receivable6
266 1 Various
Other long-term regulatory assets
447 198 Various
Total long-term regulatory assets2
7,147 5,237 
Total regulatory assets
7,619 5,707 
Current regulatory liabilities
Purchase gas variance
292 31 2025
Regulatory liability related to US income taxes7
44 — 2025
Other current regulatory liabilities
280 276 2025
Total current regulatory liabilities8 (Note 16)
616 307 
Long-term regulatory liabilities
Future removal and site restoration reserves9
2,964 1,693 Various
Regulatory liability related to US income taxes7
2,021 854 Various
Pipeline future abandonment costs (Note 23)
826 745 Various
Pension plan payable6
59 143 Various
Other long-term regulatory liabilities
242 86 Various
Total long-term regulatory liabilities8
6,112 3,521 
Total regulatory liabilities
6,728 3,828 
1Represents the amounts anticipated to be collected from customers in East Ohio’s service areas for rider projects, including CEP, PIR and costs related to the Pipeline Safety Management Program. The recovery periods for these expenditures vary according to the stipulations outlined in the respective riders. For Enbridge Gas North Carolina, these amounts relate to pipeline integrity management which represent operating costs incurred to comply with federal regulatory requirements related to natural gas pipelines and have been deferred pending future approval of rate recovery.
2Current regulatory assets are included in Other current assets, while long-term regulatory assets are included in Deferred amounts and other assets.
3Represents the regulatory offset to deferred income tax liabilities to the extent that it is expected to be included in future regulator-approved rates and recovered from customers. The recovery period depends on the timing of the reversal of temporary differences. In the absence of rate-regulated accounting, this regulatory balance and the related earnings impact would not be recorded. The balance as at December 31, 2024 is net of regulatory deferred tax write-offs.
4Represents our regulatory offset to the fair value adjustment to debt acquired in our merger with Spectra Energy Corp. (Spectra Energy). The offset is viewed as a proxy for the regulatory asset that would be recorded in the event such debt was extinguished at an amount higher than the carrying value.
5The negative salvage balance represents the recovery in future rates of the actual cost of removal of previously retired or decommissioned plant assets, as approved by the FERC.
6Represents the regulatory offset to our pension liability to the extent that it is expected to be included in regulator-approved future rates and recovered from customers. The settlement period for this balance is not determinable. In the absence of rate-regulated accounting, this regulatory balance and the related pension expense would be recorded in earnings and OCI.
7The regulatory liability related to US income taxes resulted from the US tax reform legislation dated December 22, 2017. These balances will be refunded to customers in accordance with the respective rate settlements approved by the FERC for our US Gas Transmission pipelines and by the respective state utility commission for each US Gas Distribution franchise.
8Current regulatory liabilities are included in Other current liabilities, while long-term regulatory liabilities are included in Other long-term liabilities.
9Future removal and site restoration reserves consists of amounts collected from customers, with the approval of the respective regulatory authorities, to fund future costs of removal and site restoration relating to property, plant and equipment. These costs are collected as part of the depreciation expense charged on property, plant and equipment that is reflected in rates. The settlement of this balance will occur over the long-term as costs are incurred. In the absence of rate-regulated accounting, depreciation rates would not include a charge for removal and site restoration and costs would be charged to earnings as incurred with recognition of revenue for amounts previously collected.