Content
Liquids Pipelines
Liquids Pipelines consists of crude oil, natural gas liquids (NGLs) and refined products pipelines in Canada and the United States.
|
Earnings (millions of dollars) |
2007 |
2006 |
2005 |
|---|---|---|---|
Enbridge System |
202.5 |
202.3 |
170.1 |
Athabasca System |
53.7 |
52.8 |
48.6 |
Olympic Pipeline |
9.9 |
6.5 |
- |
Spearhead Pipeline |
10.0 |
6.3 |
(1.1) |
Southern Lights Pipeline |
6.8 |
- |
- |
Feeder Pipelines and Other |
3.1 |
6.3 |
11.5 |
Impact of tax changes |
1.2 |
- |
- |
|
287.2 |
274.2 |
229.1 |
Liquids Pipelines earnings were $287.2 million in 2007 compared with $274.2 million in 2006. The increase was due primarily to strong contributions from Olympic and Spearhead Pipelines as well as the recognition of an allowance for equity funds used during construction (AEDC) on the Southern Lights Pipeline.
Liquids Pipelines earnings were $274.2 million in 2006 compared with $229.1 million in 2005. The increase resulted from strong results from the Enbridge System, the commencement of operations of the Spearhead Pipeline and the acquisition of the Olympic Pipeline.
Revenues in the Liquids Pipelines segment increased to $1,090.9 million in the year ended December 31, 2007 from $1,048.1 million in the year ended December 31, 2006. The increased revenue was partially due to increased volumes on Spearhead Pipeline and higher tolls on Olympic Pipeline. In addition, revenue reflected full year contribution from Spearhead Pipeline and Olympic Pipeline.
Revenues in the Liquids Pipelines segment increased to $1,048.1 million in the year ended December 31, 2006 from $881.0 million in the year ended December 31, 2005. The increased revenue was due to a higher revenue requirement on the Enbridge System as well as the start up of Spearhead Pipeline, which commenced operations in the first quarter of 2006 and Olympic Pipeline, which was acquired in the first quarter of 2006.
Liquids Pipelines Earnings
(millions of dollars)
The increase in Liquids Pipelines earnings in 2007 was due primarily to strong contributions from Olympic and Spearhead Pipelines as well as the recognition of an allowance for equity funds used during construction on the Southern Lights Pipeline.