Enbridge (ENB) 10-Q10 May 242024 Q1 Quarterly reportFinancial data

Company Profile

COVER

COVER - shares	3 Months Ended
COVER - shares	Mar. 31, 2024	May 03, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-15254
Entity Registrant Name	ENBRIDGE INC.
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-0377957
Entity Address, Address Line One	200, 425 - 1st Street S.W.
Entity Address, City or Town	Calgary
Entity Address, State or Province	AB
Entity Address, Country	CA
Entity Address, Postal Zip Code	T2P 3L8
City Area Code	403
Local Phone Number	231-3900
Title of 12(b) Security	Common Shares
Trading Symbol	ENB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,126,090,754
Entity Central Index Key	0000895728
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

CONSOLIDATED STATEMENTS OF EARN

CONSOLIDATED STATEMENTS OF EARNINGS - CAD ($) $ in Millions	3 Months Ended
CONSOLIDATED STATEMENTS OF EARNINGS - CAD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Operating revenues
Total operating revenues (Note 3)	$ 11,038	$ 12,075
Operating expenses
Operating and administrative	2,134	2,037
Depreciation and amortization	1,193	1,146
Total operating expenses	8,327	9,413
Operating income	2,711	2,662
Income from equity investments	696	517
Other income/(expense) (Note 11)	(551)	102
Interest expense	(905)	(905)
Earnings before income taxes	1,951	2,376
Income tax expense	(386)	(510)
Earnings	1,565	1,866
Earnings attributable to noncontrolling interests	(53)	(49)
Earnings attributable to controlling interests	1,512	1,817
Preference share dividends	(93)	(84)
Earnings attributable to common shareholders	$ 1,419	$ 1,733
Earnings per common share attributable to common shareholders (in Canadian dollars per share)	$ 0.67	$ 0.86
Diluted earnings common share attributable to common shareholders (in Canadian dollars per share)	$ 0.67	$ 0.85
Commodity sales
Operating revenues
Total operating revenues (Note 3)	$ 4,145	$ 4,783
Operating expenses
Commodity costs and gas distribution costs	4,006	4,636
Gas distribution sales
Operating revenues
Total operating revenues (Note 3)	1,699	2,279
Operating expenses
Commodity costs and gas distribution costs	994	1,594
Transportation and other services
Operating revenues
Total operating revenues (Note 3)	$ 5,194	$ 5,013

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Earnings	$ 1,565	$ 1,866
Other comprehensive income/(loss), net of tax
Change in unrealized gain/(loss) on cash flow hedges	116	(45)
Change in unrealized gain/(loss) on net investment hedges	(377)	15
Other comprehensive loss from equity investees	(1)	0
Excluded components of fair value hedges	4	7
Reclassification to earnings of loss on cash flow hedges	0	7
Reclassification to earnings of pension and other postretirement benefits (OPEB) amounts	(4)	(4)
Foreign currency translation adjustments	1,658	(59)
Other comprehensive income/(loss), net of tax	1,396	(79)
Comprehensive income	2,961	1,787
Comprehensive income attributable to noncontrolling interests	(88)	(64)
Comprehensive income attributable to controlling interests	2,873	1,723
Preference share dividends	(93)	(84)
Comprehensive income attributable to common shareholders	$ 2,780	$ 1,639

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CAD ($) $ in Millions	Total	Total Enbridge Inc. shareholders’ equity	Preference shares	Common shares	Additional paid-in capital	Deficit	Accumulated other comprehensive income/(loss) (Note 8)	Noncontrolling interests
Balance at the beginning of the period at Dec. 31, 2022			$ 6,818	$ 64,760	$ 275	$ (15,486)	$ 3,520	$ 3,511
Increase (Decrease) in Stockholders' Equity
Shares issued on exercise of stock options				2	(1)
Shares issued on vesting of restricted stock units (RSU), net of tax				12	(20)
Stock-based compensation					20
Earnings attributable to controlling interests	$ 1,817					1,817
Preference share dividends						(84)
Other comprehensive income attributable to common shareholders, net of tax							(94)
Earnings attributable to noncontrolling interests								49
Change in unrealized gain on cash flow hedges								17
Foreign currency translation adjustments								(2)
Other comprehensive income/(loss) attributable to noncontrolling interests, net of tax								15
Comprehensive income attributable to noncontrolling interests	(64)							64
Distributions								(92)
Contributions								4
Other								(1)
Balance at the end of the period at Mar. 31, 2023	$ 65,025	$ 61,539	6,818	64,774	274	(13,753)	3,426	3,486
Increase (Decrease) in Stockholders' Equity
Dividends paid per common share (in canadian dollars per share)	$ 0.89
Balance at the beginning of the period at Dec. 31, 2023	$ 64,483		6,818	69,180	268	(17,115)	2,303	3,029
Increase (Decrease) in Stockholders' Equity
Shares issued on exercise of stock options				4	(4)
Shares issued on vesting of restricted stock units (RSU), net of tax				17	(22)
Stock-based compensation					32
Earnings attributable to controlling interests	1,512					1,512
Preference share dividends						(93)
Other comprehensive income attributable to common shareholders, net of tax							1,361
Earnings attributable to noncontrolling interests								53
Change in unrealized gain on cash flow hedges								6
Foreign currency translation adjustments								29
Other comprehensive income/(loss) attributable to noncontrolling interests, net of tax								35
Comprehensive income attributable to noncontrolling interests	(88)							88
Distributions								(78)
Contributions								2
Other								1
Balance at the end of the period at Mar. 31, 2024	$ 67,303	$ 64,261	$ 6,818	$ 69,201	$ 274	$ (15,696)	$ 3,664	$ 3,042
Increase (Decrease) in Stockholders' Equity
Dividends paid per common share (in canadian dollars per share)	$ 0.92

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Earnings	$ 1,565	$ 1,866
Adjustments to reconcile earnings to net cash provided by operating activities:
Depreciation and amortization	1,193	1,146
Deferred income tax expense	134	484
Unrealized derivative fair value loss/(gain), net (Note 9)	693	(520)
Income from equity investments	(696)	(517)
Distributions from equity investments	556	453
Other	6	40
Changes in operating assets and liabilities	(300)	914
Net cash provided by operating activities	3,151	3,866
Investing activities
Capital expenditures	(1,185)	(1,129)
Long-term, restricted and other investments	(411)	(413)
Distributions from equity investments in excess of cumulative earnings	266	100
Additions to intangible assets	(42)	(66)
Acquisitions	(6,397)	0
Net change in affiliate loans	0	71
Other	(23)	0
Net cash used in investing activities	(7,792)	(1,437)
Financing activities
Net change in short-term borrowings	(65)	(559)
Net change in commercial paper and credit facility draws	5,828	(2,921)
Debenture and term note issues, net of issue costs	0	4,111
Debenture and term note repayments	(3,781)	(968)
Contributions from noncontrolling interests	2	4
Distributions to noncontrolling interests	(78)	(92)
Preference share dividends	(93)	(84)
Common share dividends	(1,945)	(1,798)
Net change in affiliate loans	14	51
Other	(2)	(33)
Net cash used in financing activities	(120)	(2,289)
Effect of translation of foreign denominated cash and cash equivalents and restricted cash	161	4
Net change in cash and cash equivalents and restricted cash	(4,600)	144
Cash and cash equivalents and restricted cash at beginning of period	5,985	907
Cash and cash equivalents and restricted cash at end of period	$ 1,385	$ 1,051

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CAD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 1,214	$ 5,901
Restricted cash	171	84
Trade receivables and unbilled revenues	4,916	4,410
Other current assets	2,239	2,440
Inventory	1,383	1,479
Current assets	10,012	14,399
Property, plant and equipment, net	113,445	104,641
Long-term investments	17,438	16,793
Restricted long-term investments	743	717
Deferred amounts and other assets	9,782	8,041
Intangible assets, net	4,528	3,537
Goodwill	34,294	31,848
Deferred income taxes	471	341
Total assets	190,713	180,317
Current liabilities
Short-term borrowings	335	400
Trade payables and accrued liabilities	3,820	4,308
Other current liabilities	3,748	5,659
Interest payable	934	958
Current portion of long-term debt	5,861	6,084
Current liabilities	14,718	17,435
Long-term debt	81,386	74,715
Other long-term liabilities	10,619	8,653
Deferred income taxes	16,687	15,031
Total liabilities	123,410	115,834
Contingencies
Share capital
Preference shares	6,818	6,818
Common shares (2,126 and 2,125 outstanding at March 31, 2024 and December 31, 2023, respectively)	69,201	69,180
Additional paid-in capital	274	268
Deficit	(15,696)	(17,115)
Accumulated other comprehensive income (Note 8)	3,664	2,303
Total Enbridge Inc. shareholders’ equity	64,261	61,454
Noncontrolling interests	3,042	3,029
Equity	67,303	64,483
Total liabilities and equity	190,713	180,317
Related Party
Current assets
Accounts receivable from affiliates	89	85
Current liabilities
Accounts payable to affiliates	$ 20	$ 26

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - shares shares in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common shares, outstanding (in shares)	2,126	2,125

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited interim consolidated financial statements of Enbridge Inc. ("we", "our", "us" and "Enbridge") have been prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP) and Regulation S-X for interim consolidated financial information. They do not include all of the information and notes required by US GAAP for annual consolidated financial statements and should therefore be read in conjunction with our audited consolidated financial statements and notes for the year ended December 31, 2023. In the opinion of management, the interim consolidated financial statements contain all normal recurring adjustments necessary to present fairly our financial position, results of operations and cash flows for the interim periods reported. These interim consolidated financial statements follow the same significant accounting policies as those included in our audited consolidated financial statements for the year ended December 31, 2023. Amounts are stated in Canadian dollars unless otherwise noted. Our operations and earnings for interim periods can be affected by seasonal fluctuations within the gas distribution utility businesses, as well as other factors such as supply of and demand for crude oil and natural gas, and may not be indicative of annual results. Certain comparative figures in our interim consolidated financial statements have been reclassified to conform to the current year's presentation.

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES	3 Months Ended
CHANGES IN ACCOUNTING POLICIES	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
CHANGES IN ACCOUNTING POLICIES	CHANGES IN ACCOUNTING POLICIES FUTURE ACCOUNTING POLICY CHANGES Segment Reporting Accounting Standards Update (ASU) 2023-07 was issued in November 2023 to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses and to require in interim period financial statements all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The new ASU requires entities to disclose the title and position of the individual or the name of the group or committee identified as the chief operating decision-maker (CODM) of each segment. ASU 2023-07 is effective January 1, 2024, with interim period disclosure requirements effective after January 1, 2025 and should be applied retrospectively to all prior periods presented in the financial statements. We are currently assessing the impact of the new standard on our interim financial statement disclosures for 2025 and the required annual disclosures will be adopted for the year ending December 31, 2024. Income Tax Disclosures ASU 2023-09 was issued in December 2023 to improve income tax disclosures by requiring specified categories in the annual rate reconciliation that meet quantitative thresholds and further disaggregation on income taxes paid by jurisdiction. ASU 2023-09 is effective January 1, 2025 and should be applied prospectively, with retrospective application being permitted. We are currently assessing the impact of the new standard on our consolidated financial statements.

REVENUE

REVENUE	3 Months Ended
REVENUE	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE REVENUE FROM CONTRACTS WITH CUSTOMERS Major Products and Services Three months ended Liquids Gas Transmission Gas Renewable Power Generation Eliminations Consolidated (millions of Canadian dollars) Transportation revenue 3,024 1,341 351 — — 4,716 Storage and other revenue 62 138 99 — — 299 Gas distribution revenue — — 1,666 — — 1,666 Electricity revenue — — — 57 — 57 Commodity sales — 40 — — — 40 Total revenue from contracts with customers 3,086 1,519 2,116 57 — 6,778 Commodity sales 3,733 41 — — 331 4,105 Other revenue 1,2 63 6 13 73 — 155 Intersegment revenue — 6 2 1 (9) — Total revenue 6,882 1,572 2,131 131 322 11,038 Three months ended Liquids Gas Transmission Gas Renewable Power Generation Eliminations Consolidated (millions of Canadian dollars) Transportation revenue 2,942 1,384 276 — — 4,602 Storage and other revenue 64 95 99 — — 258 Gas distribution revenue — — 2,287 — — 2,287 Electricity revenue — — — 66 — 66 Total revenue from contracts with customers 3,006 1,479 2,662 66 — 7,213 Commodity sales 4,262 — — — 521 4,783 Other revenue 1,2 30 11 (40) 78 — 79 Intersegment revenue — 1 3 — (4) — Total revenue 7,298 1,491 2,625 144 517 12,075 1 Includes realized and unrealized gains and losses from our hedging program which for the three months ended March 31, 2024 were a net $22 million loss (2023 - $55 million loss). 2 Includes revenues from lease contracts for the three months ended March 31, 2024 and 2023 of $140 million and $144 million, respectively. We disaggregate revenues into categories which represent our principal performance obligations within each business segment. These revenue categories represent the most significant revenue streams in each segment and consequently are considered to be the most relevant revenue information for management to consider in evaluating performance. Contract Balances Contract Receivables Contract Assets Contract Liabilities (millions of Canadian dollars) Balance as at March 31, 2024 2,962 337 2,537 Balance as at December 31, 2023 2,802 400 2,591 Contract receivables represent the amount of receivables derived from contracts with customers. Contract assets represent the amount of revenues which has been recognized in advance of payments received for performance obligations we have fulfilled (or have partially fulfilled) and prior to the point in time at which our right to payment is unconditional. Amounts included in contract assets are transferred to accounts receivable when our right to receive the consideration becomes unconditional. Contract liabilities represent payments received for performance obligations which have not been fulfilled. Contract liabilities primarily relate to make-up rights and deferred revenues. Revenue recognized during the three months ended March 31, 2024 included in contract liabilities at the beginning of the period was $151 million. Increases in contract liabilities from cash received, net of amounts recognized as revenues, during the three months ended March 31, 2024 were $117 million. Performance Obligations There were no material revenues recognized in the three months ended March 31, 2024 from performance obligations satisfied in previous periods. Revenues to be Recognized from Unfulfilled Performance Obligations Total revenues from performance obligations expected to be fulfilled in future periods is $60.5 billion, of which $6.2 billion and $7.9 billion are expected to be recognized during the remaining nine months ending December 31, 2024 and the year ending December 31, 2025, respectively. The revenues excluded from the amounts above based on optional exemptions available under Accounting Standards Codification (ASC) 606, as explained below, represent a significant portion of our overall revenues and revenues from contracts with customers. Certain revenues such as flow-through operating costs charged to shippers are recognized at the amount for which we have the right to invoice our customers and are excluded from the amounts for revenues to be recognized in the future from unfulfilled performance obligations above. Variable consideration is excluded from the amounts above due to the uncertainty of the associated consideration, which is generally resolved when actual volumes and prices are determined. For example, we consider interruptible transportation service revenues to be variable revenues since volumes cannot be estimated. Additionally, the effect of escalation on certain tolls which are contractually escalated for inflation has not been reflected in the amounts above as it is not possible to reliably estimate future inflation rates. Revenues for periods extending beyond the current rate settlement term for regulated contracts where the tolls are periodically reset by the regulator are excluded from the amounts above since future tolls remain unknown. Finally, revenues from contracts with customers which have an original expected duration of one year or less are excluded from the amounts above. Mainline Tolling Agreement Recognition and Measurement of Revenues Three months ended March 31, 2024 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — 40 29 — 69 Revenues from products and services transferred over time 1 3,086 1,479 2,087 57 6,709 Total revenue from contracts with customers 3,086 1,519 2,116 57 6,778 Three months ended March 31, 2023 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — — 30 — 30 Revenues from products and services transferred over time 1 3,006 1,479 2,632 66 7,183 Total revenue from contracts with customers 3,006 1,479 2,662 66 7,213 1 Revenue 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.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	3 Months Ended
SEGMENTED INFORMATION	Mar. 31, 2024
Segment Reporting [Abstract]
SEGMENTED INFORMATION	SEGMENTED INFORMATION Change in Reportable Segments Effective January 1, 2024, to better align how the CODM reviews operating performance and resource allocation across operating segments, we transferred our Canadian and United States (US) crude oil marketing businesses from the Energy Services segment to the Liquids Pipelines segment. As a result, the Energy Services segment ceased to exist and the remainder of the business, comprising natural gas and power marketing, are now reported in the Eliminations and Other segment. Beginning in the first quarter of 2024, prior period comparable results for segmented information have been recast to reflect the change in reportable segments. This segment reporting change does not have an impact on our consolidated results. Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 6,882 1,572 2,131 131 322 11,038 Commodity and gas distribution costs (3,635) (47) (1,004) (3) (311) (5,000) Operating and administrative (1,107) (561) (379) (69) (18) (2,134) Income/(loss) from equity investments 253 265 — 181 (3) 696 Other income/(expense) (Note 11) 11 36 17 17 (632) (551) Earnings/(loss) before interest, income taxes and depreciation and amortization 2,404 1,265 765 257 (642) 4,049 Depreciation and amortization (1,193) Interest expense (905) Income tax expense (386) Earnings 1,565 Capital expenditures 2 289 495 304 69 43 1,200 Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 7,298 1,491 2,625 144 517 12,075 Commodity and gas distribution costs (4,132) — (1,612) (4) (482) (6,230) Operating and administrative (1,135) (549) (309) (53) 9 (2,037) Income/(loss) from equity investments 248 238 — 35 (4) 517 Other income/(expense) (Note 11) 74 25 12 14 (23) 102 Earnings before interest, income taxes and depreciation and amortization 2,353 1,205 716 136 17 4,427 Depreciation and amortization (1,146) Interest expense (905) Income tax expense (510) Earnings 1,866 Capital expenditures 2 280 527 264 45 25 1,141 1 Includes operating revenues and commodity costs from our natural gas and power marketing subsidiaries for the three months ended March 31, 2024 of $332 million (2023 - $520 million) and $322 million (2023 - $499 million), respectively. 2 Includes allowance for equity funds used during construction.

EARNINGS PER COMMON SHARE AND D

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE	3 Months Ended
EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE	Mar. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE	EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE BASIC Earnings per common share is calculated by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding. DILUTED The treasury stock method is used to determine the dilutive impact of stock options and share-settled RSUs. This method assumes any proceeds from the exercise of stock options and vesting of share-settled RSUs would be used to purchase common shares at the average market price during the period. Weighted average shares outstanding used to calculate basic and diluted earnings per common share are as follows: Three months ended 2024 2023 (number of shares in millions) Weighted average shares outstanding 2,126 2,025 Effect of dilutive options and RSUs 2 3 Diluted weighted average shares outstanding 2,128 2,028 For the three months ended March 31, 2024 and 2023, 23.0 million and 16.7 million, respectively, of anti-dilutive stock options with a weighted average exercise price of $52.97 and $55.62, respectively, were excluded from the diluted earnings per common share calculation. DIVIDENDS PER SHARE On April 23, 2024, our Board of Directors declared the following quarterly dividends. All dividends are payable on June 1, 2024 to shareholders of record on May 15, 2024. Dividend per share Common Shares $0.91500 Preference Shares, Series A $0.34375 Preference Shares, Series B $0.32513 Preference Shares, Series D $0.33825 Preference Shares, Series F $0.34613 Preference Shares, Series G 1 $0.47383 Preference Shares, Series H $0.38200 Preference Shares, Series I 2 $0.44932 Preference Shares, Series L US$0.36612 Preference Shares, Series N $0.41850 Preference Shares, Series P 3 $0.36988 Preference Shares, Series R $0.25456 Preference Shares, Series 1 US$0.41898 Preference Shares, Series 3 $0.23356 Preference Shares, Series 5 4 US$0.41769 Preference Shares, Series 7 5 $0.37425 Preference Shares, Series 9 $0.25606 Preference Shares, Series 11 $0.24613 Preference Shares, Series 13 $0.19019 Preference Shares, Series 15 $0.18644 Preference Shares, Series 19 $0.38825 1 The quarterly dividend per share paid on Preference Shares, Series G was decreased to $0.47383 from $0.47676 on March 1, 2024 due to reset on a quarterly basis. 2 The quarterly dividend per share paid on Preference Shares, Series I was decreased to $0.44932 from $0.45251 on March 1, 2024 due to reset on a quarterly basis. 3 The quarterly dividend per share paid on Preference Shares, Series P was increased to $0.36988 from $0.27369 on March 1, 2024 due to reset of the annual dividend on March 1, 2024. 4 The quarterly dividend per share paid on Preference Shares, Series 5 was increased to US$0.41769 from US$0.33596 on March 1, 2024 due to reset of the annual dividend on March 1, 2024. 5 The quarterly dividend per share paid on Preference Shares, Series 7 was increased to $0.37425 from $0.27806 on March 1, 2024 due to reset of the annual dividend on March 1, 2024.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
ACQUISITIONS	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS THE EAST OHIO GAS COMPANY On March 6, 2024, through a wholly-owned US subsidiary, we acquired all of the outstanding shares of capital stock in The East Ohio Gas Company (EOG) for cash consideration of $5.8 billion (US$4.3 billion) (the EOG Acquisition). EOG is a public natural gas utility providing distribution, storage and transmission services to residential, commercial and industrial customers in Ohio and is regulated by the Public Utilities Commission of Ohio and the Federal Energy Regulatory Commission. The EOG Acquisition is complementary to our other operations in Ohio. We accounted for the EOG Acquisition using the acquisition method as prescribed by ASC 805 Business Combinations . In accordance with valuation methodologies described in ASC 820 Fair Value Measurement , acquired assets and assumed liabilities are recorded at their estimated fair values as at the date of acquisition. The fair values of regulatory assets and liabilities, which are subject to rate-setting and cost recovery mechanisms under ASC 980, are equal to their carrying values at acquisition. The recognition of regulatory assets and liabilities is based on the actions, or expected future actions, of the regulator. To the extent that the regulator's actions differ from our expectations, the timing and amount of recovery or settlement of regulatory balances could differ significantly from those recorded at acquisition. The purchase price allocation was prepared on a preliminary basis and is subject to change as additional information becomes available concerning the fair values of the pension and regulatory balances and their tax bases. Any adjustments to the purchase price allocation will be made as soon as practicable, but no later than one year from the date of acquisition. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of EOG: March 6, (millions of Canadian dollars) Fair value of net assets acquired: Current assets (a) 641 Property, plant and equipment (b) 7,253 Long-term assets (c) 1,647 Current liabilities 670 Long-term debt (d) 2,612 Other long-term liabilities (e) 993 Deferred income tax liabilities 1,036 Goodwill (f) 1,608 Purchase price: Cash 5,838 a) Current assets consist primarily of cash, trade and other accounts receivable, prepaid expenses, regulatory assets and inventory. The fair value of trade receivables from customers approximates their carrying value of $376 million due to the short period to maturity. A provision for credit and recovery risk associated with accounts receivable has been made through the expected credit loss, which totaled $3 million. b) EOG's property, plant and equipment constitutes an integrated system of rate-regulated natural gas transmission, gathering, distribution and storage assets. For these rate-regulated assets, fair value was determined using a market participant perspective. Given the regulated nature of, and fixed return on the assets, the fair value of property, plant and equipment acquired is equal to its carrying value. c) Long-term assets consist primarily of overfunded pension plan assets of $395 million and $1.2 billion of regulatory assets expected to be recovered from customers in future periods through rates. Pension plan assets attributable to the workforce acquired from EOG were transferred in cash to an Enbridge-sponsored pension plan based on their fair value as at December 31, 2023, subject to closing adjustments. The fair value of plan assets was determined using unadjusted quoted market prices for identical investments. d) The fair value of long-term debt was determined based on the current underlying US Treasury interest rates on instruments of similar yield, credit risk and tenor, as well as an implied credit spread based on current market conditions. We recorded a fair value adjustment to reduce long-term debt by $478 million with no corresponding regulatory offset. e) Other long-term liabilities consist primarily of regulatory liabilities expected to be refunded to customers in future periods through rates. f) Goodwill is primarily attributable to the existing assembled assets and workforce of EOG that cannot be duplicated at the same cost by a new entrant and the enhanced scale and geographic diversity of our regulated natural gas distribution business, which provides platforms for future growth and optimization with existing assets. The goodwill balance recognized has been assigned to our Gas Distribution and Storage segment and is not tax deductible. Upon completion of the EOG Acquisition, we began consolidating EOG. For the period beginning March 6, 2024 through to March 31, 2024, EOG generated approximately $105 million of operating revenues and $25 million of earnings attributable to common shareholders. Our supplemental pro forma consolidated financial information for the three months ended March 31, 2024 and 2023, including the results of operations for EOG as if the EOG Acquisition had been completed on January 1, 2023, are as follows: Three months ended 2024 2023 (unaudited; millions of Canadian dollars) Operating revenues 11,346 12,496 Earnings attributable to common shareholders 1 1,476 1,770 1 Includes adjustment for pro forma interest expense on debt financing for the EOG Acquisition of $41 million (after-tax of $33 million) for the three months ended March 31, 2023. ACQUISITION OF RNG FACILITIES On January 2, 2024, through a wholly-owned US subsidiary, we acquired six Morrow Renewables operating landfill gas-to-renewable natural gas (RNG) production facilities (Tomorrow RNG) located in Texas and Arkansas for total consideration of $1.3 billion (US$1.0 billion), of which $584 million (US$439 million) was paid at close and an additional deferred consideration is payable within two years with a fair value of $757 million (US$568 million) (the RNG Facilities Acquisition). The acquired assets align with and advance our low-carbon strategy. We accounted for the RNG Facilities Acquisition using the acquisition method as prescribed by ASC 805 Business Combinations . In accordance with valuation methodologies described in ASC 820 Fair Value Measurement , the acquired assets and assumed liabilities are recorded at their estimated fair values as at the date of acquisition. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of Tomorrow RNG: January 2, 2024 (millions of Canadian dollars) Fair value of net assets acquired: Current assets 31 Intangible assets (a) 925 Property, plant and equipment (b) 174 Current liabilities 5 Goodwill (c) 223 Purchase price: Cash 584 Deferred consideration (d): Current portion of long-term debt 550 Long-term debt 207 Other adjustments 7 1,348 a) Intangible assets consist of long-term gas supply agreements with the respective facility's landfill owner. Fair value was determined using an income-based approach, specifically the multi-period excess earnings method, by estimating the present value of the after-tax cash flows attributable to the gas rights. The intangible assets will be amortized on a straight-line basis over the term of the respective agreement, inclusive of extension options, which range from 13 to 42 years. b) Tomorrow RNG's property, plant and equipment constitutes specialized landfill gas plant and equipment which collects gas produced by waste decomposition, treats and compresses the gas to pipeline specifications. The direct method of replacement cost was used to determine the majority of the fair value of property, plant and equipment. Adjustments were then applied for estimated physical deterioration. c) Goodwill is primarily attributable to expected future returns from a portfolio of both operating and scalable RNG assets, furthering the diversity of our renewable projects portfolio and accelerating progress toward our energy transition goals. The goodwill balance recognized has been assigned to our Gas Transmission segment and is tax deductible over 15 years. d) We entered into six non-interest bearing promissory notes due to Morrow Renewables, the total value of which represents deferred payments of $808 million (US$606 million) due within two years. The first and second payments are due on January 2, 2025 and December 31, 2025, respectively. The $757 million (US$568 million) recognized in the purchase price represents the fair value of deferred consideration at the date of acquisition using the imputed interest rate method over the terms of the notes. Upon completion of the RNG Facilities Acquisition, we began consolidating Tomorrow RNG. For the period beginning January 2, 2024 through to March 31, 2024, operating revenues and earnings attributable to common shareholders generated by Tomorrow RNG were immaterial. The impact to our supplemental pro forma consolidated operating revenues and earnings attributable to common shareholders for the three months ended March 31, 2024 and 2023, as if the RNG Facilities Acquisition had been completed on January 1, 2023, was also immaterial.

DEBT

DEBT	3 Months Ended
DEBT	Mar. 31, 2024
Debt Disclosure [Abstract]
DEBT	DEBT CREDIT FACILITIES The following table provides details of our committed credit facilities as at March 31, 2024: Maturity 1 Total Draws 2 Available (millions of Canadian dollars) Enbridge Inc. 2024-2049 9,036 5,690 3,346 Enbridge (U.S.) Inc. 2025-2028 8,594 3,681 4,913 Enbridge Pipelines Inc. 2025 2,000 728 1,272 Enbridge Gas Inc. 2025 2,500 335 2,165 Total committed credit facilities 22,130 10,434 11,696 1 Maturity date is inclusive of the one-year term out option for certain credit facilities. 2 Includes facility draws and commercial paper issuances that are back-stopped by credit facilities. In March 2024, we entered into a delayed-draw term loan facility of $200 million which matures in March 2049. In addition to the committed credit facilities noted above, we maintain $1.2 billion of uncommitted demand letter of credit facilities, of which $766 million was unutilized as at March 31, 2024. As at December 31, 2023, we had $1.1 billion of uncommitted demand letter of credit facilities, of which $572 million was unutilized. Our credit facilities carry a weighted average standby fee of 0.1% per annum on the unused portion and draws bear interest at market rates. Certain credit facilities serve as a back-stop to the commercial paper programs and we have the option to extend such facilities, which are currently scheduled to mature from 2024 to 2049. As at March 31, 2024 and December 31, 2023, commercial paper and credit facility draws, net of short-term borrowings and non-revolving credit facilities that mature within one year, of $9.6 billion and $3.8 billion, respectively, were supported by the availability of long-term committed credit facilities and, therefore, have been classified as long-term debt. As a result of the EOG Acquisition and RNG Facilities Acquisition, our debt increased by US$1.9 billion and US$568 million, respectively, on each acquisition date. Accordingly, annual debt maturities have also increased. Long-term debt maturing during the year ending December 31, 2025, has increased by US$500 million and US$606 million, from the EOG Acquisition and RNG Facilities Acquisition, respectively. From the EOG Acquisition, the remaining US$1.8 billion debt is due after December 31, 2029. Refer to Note 6 - Acquisitions for further details. LONG-TERM DEBT ISSUANCE In April 2024, we closed a four-tranche offering consisting of three five LONG-TERM DEBT REPAYMENTS During the three months ended March 31, 2024, we completed the following long-term debt repayments totaling US$2.7 billion and $0.2 billion: Company Repayment Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. February 2024 Floating rate notes 1 US$600 February 2024 2.15% senior notes US$400 March 2024 5.97% senior notes 2 US$700 Enbridge Pipelines Inc. February 2024 8.20% debentures $200 Enbridge Southern Lights LP January 2024 4.01% senior notes $10 Spectra Energy Partners, LP March 2024 4.75% senior notes US$1,000 1 The notes carried an interest rate set to equal the Secured Overnight Financing Rate plus a margin of 63 basis points. 2 The notes carried an original maturity date in March 2026, and were callable one SUBORDINATED TERM NOTES As at March 31, 2024 and December 31, 2023, our fixed-to-floating rate and fixed-to-fixed rate subordinated term notes had a principal value of $13.2 billion and $13.0 billion, respectively. FAIR VALUE ADJUSTMENT As at March 31, 2024 and December 31, 2023, the net fair value adjustments to total debt assumed in a historical acquisition were $501 million and $514 million, respectively. As a result of the EOG Acquisition, there were additional fair value adjustments of $478 million to decrease total debt as at March 31, 2024. Amortization of the fair value adjustment is recorded as an increase to Interest expense in the Consolidated Statements of Earnings: Three months ended March 31, 2024 2023 (millions of Canadian dollars) Amortization of fair value adjustment 12 11 DEBT COVENANTS Our credit facility agreements and term debt indentures include standard events of default and covenant provisions whereby accelerated repayment and/or termination of the agreements may result if we were to default on payment or violate certain covenants. As at March 31, 2024, we were in compliance with all such debt covenant provisions.

COMPONENTS OF ACCUMULATED OTHER

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME	3 Months Ended
COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME	Mar. 31, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME	COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME Changes in Accumulated other comprehensive income (AOCI) attributable to our common shareholders for the three months ended March 31, 2024 and 2023 are as follows: Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2024 320 (23) (728) 2,653 11 70 2,303 Other comprehensive income/(loss) retained in AOCI 144 (15) (377) 1,629 (1) — 1,380 Other comprehensive (income)/loss reclassified to earnings Foreign exchange contracts 1 — 19 — — — — 19 Amortization of pension and OPEB actuarial gain 2 — — — — — (5) (5) 144 4 (377) 1,629 (1) (5) 1,394 Tax impact Income tax on amounts retained in AOCI (34) 4 — — — — (30) Income tax on amounts reclassified to earnings — (4) — — — 1 (3) (34) — — — — 1 (33) Balance as at March 31, 2024 430 (19) (1,105) 4,282 10 66 3,664 Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2023 121 (35) (1,137) 4,348 5 218 3,520 Other comprehensive income/(loss) retained in AOCI (90) 7 15 (57) — — (125) Other comprehensive (income)/loss reclassified to earnings Interest rate contracts 3 8 — — — — — 8 Other contracts 4 1 — — — — — 1 Amortization of pension and OPEB actuarial gain 2 — — — — — (5) (5) (81) 7 15 (57) — (5) (121) Tax impact Income tax on amounts retained in AOCI 28 — — — — — 28 Income tax on amounts reclassified to earnings (2) — — — — 1 (1) 26 — — — — 1 27 Balance as at March 31, 2023 66 (28) (1,122) 4,291 5 214 3,426 1 Reported within Transportation and other services revenues and Other income/(expense) in the Consolidated Statements of Earnings. 2 These components are included in the computation of net periodic benefit credit and are reported within Other income/(expense) in the Consolidated Statements of Earnings. 3 Reported within Interest expense in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.

RISK MANAGEMENT AND FINANCIAL I

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	3 Months Ended
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS	RISK MANAGEMENT AND FINANCIAL INSTRUMENTS MARKET RISK Our earnings, cash flows and other comprehensive income/(loss) (OCI) are subject to movements in foreign exchange rates, interest rates, commodity prices and our share price (collectively, market risks). Formal risk management policies, processes and systems have been designed to mitigate these risks. The following summarizes the types of market risks to which we are exposed and the risk management instruments used to mitigate them. We use a combination of qualifying and non-qualifying derivative instruments to manage the risks noted below. Foreign Exchange Risk We generate certain revenues, incur expenses and hold a number of investments and subsidiaries that are denominated in currencies other than Canadian dollars. As a result, our earnings, cash flows and OCI are exposed to fluctuations resulting from foreign exchange rate variability. We employ financial derivative instruments to hedge foreign currency denominated earnings exposure. A combination of qualifying and non-qualifying derivative instruments is used to hedge anticipated foreign currency denominated revenues and expenses and to manage variability in cash flows. We hedge certain net investments in US dollar-denominated investments and subsidiaries using foreign currency US dollar-denominated debt. Interest Rate Risk Our earnings, cash flows and OCI are exposed to short-term interest rate variability due to the regular repricing of our variable rate debt, primarily commercial paper. We have a policy of limiting the maximum floating rate debt to 30% of total debt outstanding. To ensure compliance with our policy, we monitor and adjust our debt portfolio mix of fixed and variable rate debt instruments in conjunction with the use of hedging instruments. We have implemented a hedging program to partially mitigate the impact of short-term interest rate volatility on interest expense via the execution of floating-to-fixed interest rate swaps and costless collars. These swaps have an average fixed rate of 4.1% . Our earnings and cash flows are also exposed to variability in longer term interest rates ahead of anticipated fixed rate term debt issuances. A combination of qualifying and non-qualifying forward starting interest rate swaps are used to hedge against the effect of future interest rate movements. We have established a program including some of our subsidiaries to partially mitigate our exposure to long-term interest rate variability on forecas ted term debt issuances via execution of floating-to-fixed interest rate swaps with an average swap rate of 3.5%. Commodity Price Risk Our earnings, cash flows and OCI are exposed to changes in commodity prices as a result of our ownership interests in certain assets and investments, as well as through the activities of our energy marketing subsidiaries. These commodities include natural gas, crude oil, power and natural gas liquids (NGL). We employ financial and physical derivative instruments to fix a portion of the variable price exposures that arise from physical transactions involving these commodities. We use primarily non-qualifying derivative instruments to manage commodity price risk. Equity Price Risk Equity price risk is the risk of earnings fluctuations due to changes in our share price. We have exposure to our own common share price through the issuance of various forms of stock-based compensation, which affect earnings through the revaluation of outstanding units every period. TOTAL DERIVATIVE INSTRUMENTS We have a policy of entering into individual International Swaps and Derivatives Association, Inc. (ISDA) agreements, or other similar derivative agreements, with the majority of our financial derivative counterparties. These agreements provide for the net settlement of derivative instruments outstanding with specific counterparties in the event of bankruptcy or other significant credit events and reduce our credit risk exposure on financial derivative asset positions outstanding with the counterparties in those circumstances. The following tables summarize the Consolidated Statements of Financial Position location and carrying value of our derivative instruments, as well as the maximum potential settlement amounts, in the event of the specific circumstances described above. March 31, 2024 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 32 92 124 (26) 98 Interest rate contracts 51 — 51 102 (50) 52 Commodity contracts — — 241 241 (157) 84 51 32 384 467 (233) 234 Deferred amounts and other assets Foreign exchange contracts — — 124 124 (98) 26 Interest rate contracts 67 — 26 93 (7) 86 Commodity contracts — — 87 87 (40) 47 67 — 237 304 (145) 159 Other current liabilities Foreign exchange contracts — (43) (195) (238) 26 (212) Interest rate contracts (97) — (2) (99) 50 (49) Commodity contracts (4) — (311) (315) 157 (158) Other contracts — — (1) (1) — (1) (101) (43) (509) (653) 233 (420) Other long-term liabilities Foreign exchange contracts — (51) (899) (950) 98 (852) Interest rate contracts — — (22) (22) 7 (15) Commodity contracts (2) — (164) (166) 40 (126) (2) (51) (1,085) (1,138) 145 (993) Total net derivative asset/(liability) Foreign exchange contracts — (62) (878) (940) — (940) Interest rate contracts 21 — 53 74 — 74 Commodity contracts (6) — (147) (153) — (153) Other contracts — — (1) (1) — (1) 15 (62) (973) (1,020) — (1,020) December 31, 2023 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 41 98 139 (32) 107 Interest rate contracts 31 — 34 65 (32) 33 Commodity contracts — — 418 418 (270) 148 Other contracts — — 1 1 (1) — 31 41 551 623 (335) 288 Deferred amounts and other assets Foreign exchange contracts — 16 319 335 (122) 213 Interest rate contracts 51 — 2 53 (21) 32 Commodity contracts — — 75 75 (41) 34 51 16 396 463 (184) 279 Other current liabilities Foreign exchange contracts — (44) (84) (128) 32 (96) Interest rate contracts (183) — (3) (186) 32 (154) Commodity contracts (11) — (412) (423) 270 (153) Other contracts — — (1) (1) 1 — (194) (44) (500) (738) 335 (403) Other long-term liabilities Foreign exchange contracts — (17) (481) (498) 122 (376) Interest rate contracts (3) — (85) (88) 21 (67) Commodity contracts (7) — (159) (166) 41 (125) (10) (17) (725) (752) 184 (568) Total net derivative liability Foreign exchange contracts — (4) (148) (152) — (152) Interest rate contracts (104) — (52) (156) — (156) Commodity contracts (18) — (78) (96) — (96) Other contracts — — — — — — (122) (4) (278) (404) — (404) The following table summarizes the maturity and notional principal or quantity outstanding related to our derivative instruments: March 31, 2024 2024 2025 2026 2027 2028 Thereafter Total Foreign exchange contracts - US dollar forwards - purchase (millions of US dollars) 715 500 — — — — 1,215 Foreign exchange contracts - US dollar forwards - sell (millions of US dollars) 5,368 5,327 4,697 4,091 3,162 888 23,533 Foreign exchange contracts - British pound (GBP) forwards - sell (millions of GBP) 25 30 28 32 — — 115 Foreign exchange contracts - Euro forwards - sell (millions of Euro) 106 126 121 81 67 195 696 Foreign exchange contracts - Japanese yen forwards - purchase (millions of yen) — 84,800 — — — — 84,800 Interest rate contracts - short-term pay fixed rate (millions of Canadian dollars) 4,726 1,904 1,130 75 25 13 7,873 Interest rate contracts - short-term receive fixed rate (millions of Canadian dollars) 708 947 179 — — — 1,834 Interest rate contracts - long-term pay fixed rate (millions of Canadian dollars) 1 5,436 588 — — — — 6,024 Interest rate contracts - costless collar (millions of Canadian dollars) — 1,382 53 — — — 1,435 Commodity contracts - natural gas (billions of cubic feet) 50 28 18 12 — — 108 Commodity contracts - crude oil (millions of barrels) 13 — — — — — 13 Commodity contracts - power (megawatt per hour (MW/H)) 51 (18) (35) (51) (49) (30) (25) 2 1 Represents the notional amount of long-term debt issuances hedged. 2 Total is an average net purchase/(sale) of power. Derivatives Designated as Fair Value Hedges The following table presents foreign exchange derivative instruments that are designated and qualify as fair value hedges. The realized and unrealized gain or loss on the derivative is included in Other income/(expense) or Interest expense in the Consolidated Statements of Earnings. The offsetting loss or gain on the hedged item attributable to the hedged risk is included in Other income/(expense) in the Consolidated Statements of Earnings. Any excluded components are included in the Consolidated Statements of Comprehensive Income. Three months ended 2024 2023 (millions of Canadian dollars) Unrealized loss on derivative (63) (11) Unrealized gain on hedged item 74 11 Realized gain/(loss) on derivative 59 (11) Realized loss on hedged item (79) — The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income The following table presents the effect of cash flow hedges and fair value hedges on our consolidated earnings and comprehensive income, before the effect of income taxes: Three months ended 2024 2023 (millions of Canadian dollars) Amount of unrealized gain/(loss) recognized in OCI Cash flow hedges Interest rate contracts 138 (105) Commodity contracts 12 34 Other contracts 1 (2) Fair value hedges Foreign exchange contracts (15) 7 136 (66) Amount of loss reclassified from AOCI to earnings Foreign exchange contracts 1 19 — Interest rate contracts 2 — 8 Other contracts 3 — 1 19 9 1 Reported within Other income/(expense) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. We estimate that a loss of $8 million from AOCI related to cash flow hedges will be reclassified to earnings in the next 12 months. Actual amounts reclassified to earnings depend on the foreign exchange rates, interest rates and commodity prices in effect when derivative contracts that are currently outstanding mature. For all forecasted transactions, the maximum term over which we are hedging exposures to the variability of cash flows is two years as at March 31, 2024 . Non-Qualifying Derivatives The following table presents the unrealized gains and losses associated with changes in the fair value of our non-qualifying derivatives: Three months ended 2024 2023 (millions of Canadian dollars) Foreign exchange contracts 1 (730) 556 Interest rate contracts 2 105 10 Commodity contracts 3 (67) (39) Other contracts 4 (1) (7) Total unrealized derivative fair value gain/(loss), net (693) 520 1 For the respective three months ended periods, reported within Transportation and other services revenues (2024 - nil; 2023 - $645 million gain) and Other income/(expense) (2024 - $730 million loss; 2023 - $89 million loss) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 For the respective three months ended periods, reported within Transportation and other services revenues (2024 - $35 million loss; 2023 - $6 million gain), Commodity sales (2024 - $37 million loss; 2023 - $69 million gain), Commodity costs (2024 - $23 million gain; 2023 - $75 million loss) and Operating and administrative expense (2024 - $18 million loss; 2023 - $39 million loss) in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings. LIQUIDITY RISK Liquidity risk is the risk that we will not be able to meet our financial obligations, including commitments and guarantees, as they become due. In order to mitigate this risk, we forecast cash requirements over a 12-month rolling time period to determine whether sufficient funds will be available and maintain substantial capacity under our committed bank lines of credit to address any contingencies. Our primary sources of liquidity and capital resources are funds generated from operations, the issuance of commercial paper and draws under committed credit facilities and long-term debt, which includes debentures and medium-term notes. Our shelf prospectuses with securities regulators enable ready access to either the Canadian or US public capital markets, subject to market conditions. In addition, we maintain sufficient liquidity through committed credit facilities with a diversified group of banks and institutions which, if necessary, enables us to fund all anticipated requirements for approximately one year without accessing the capital markets. We were in compliance with all the terms and conditions of our committed credit facility agreements and term debt indentures as at March 31, 2024. As a result, all credit facilities are available to us and the banks are obligated to fund us under the terms of the facilities. We also identify a variety of other potential sources of debt and equity funding alternatives, including reinstatement of our dividend reinvestment and share purchase plan or at-the-market equity issuances. CREDIT RISK Entering into derivative instruments may result in exposure to credit risk from the possibility that a counterparty will default on its contractual obligations. In order to mitigate this risk, we enter into risk management transactions primarily with institutions that possess strong investment grade credit ratings. Credit risk relating to derivative counterparties is mitigated through the maintenance and monitoring of credit exposure limits and contractual requirements, netting arrangements and review counterparty credit exposure using external credit rating services and other analytical tools. We have credit concentrations and credit exposure, with respect to derivative instruments, in the following counterparty segments: March 31, December 31, (millions of Canadian dollars) Canadian financial institutions 353 457 US financial institutions 91 252 European financial institutions 69 107 Asian financial institutions 85 121 Other 1 119 125 717 1,062 1 Other is comprised of commodity clearing house and physical natural gas and crude oil counterparties. As at March 31, 2024, we did not provide any letters of credit in lieu of providing cash collateral to our counterparties pursuant to the terms of the relevant ISDA agreements. We held no cash collateral on derivative asset exposures as at March 31, 2024 and December 31, 2023. Gross derivative balances have been presented without the effects of collateral posted. Derivative assets are adjusted for non-performance risk of our counterparties using their credit default swap spread rates and are reflected at fair value. For derivative liabilities, our non-performance risk is considered in the valuation. Credit risk also arises from trade and other long-term receivables, and is mitigated through credit exposure limits and contractual requirements, the assessment of credit ratings and netting arrangements. Within Enbridge Gas, credit risk is mitigated by the utility's large and diversified customer base and the ability to recover an estimate for expected credit losses through the ratemaking process. We actively monitor the financial strength of large industrial customers and, in select cases, have obtained additional security to minimize the risk of default on receivables. Generally, we utilize a loss allowance matrix which contemplates historical credit losses by age of receivables, adjusted for any forward-looking information and management expectations to measure lifetime expected credit losses of receivables. The maximum exposure to credit risk related to non-derivative financial assets is their carrying value. FAIR VALUE MEASUREMENTS Our financial assets and liabilities measured at fair value on a recurring basis include derivatives and other financial instruments. We also disclose the fair value of other financial instruments not measured at fair value. The fair value of financial instruments reflects our best estimates of market value based on generally accepted valuation techniques or models and is supported by observable market prices and rates. When such values are not available, we use discounted cash flow analysis from applicable yield curves based on observable market inputs to estimate fair value. FAIR VALUE OF FINANCIAL INSTRUMENTS We categorize our financial instruments measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. Level 1 Level 1 includes financial instruments measured at fair value based on unadjusted quoted prices for identical assets and liabilities in active markets that are accessible at the measurement date. An active market for a financial instrument is considered to be a market where transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Our Level 1 instruments consist primarily of exchange-traded derivatives used to mitigate the risk of crude oil price fluctuations, US and Canadian treasury bills, investments in exchange-traded funds held by our captive insurance subsidiaries, as well as restricted long-term investments in exchange-traded funds that are held in trust in accordance with the CER's regulatory requirements under the Land Matters Consultation Initiative (LMCI). Level 2 Level 2 includes financial instrument valuations determined using directly or indirectly observable inputs other than quoted prices included within Level 1. Financial instruments in this category are valued using models or other industry standard valuation techniques derived from observable market data. Such valuation techniques include inputs such as quoted forward prices, time value, volatility factors and broker quotes that can be observed or corroborated in the market for the entire duration of the financial instrument. Derivatives valued using Level 2 inputs include non-exchange traded derivatives such as over-the-counter foreign exchange forward and cross-currency swap contracts, interest rate swaps, physical forward commodity contracts, as well as commodity swaps and options for which observable inputs can be obtained. We have also categorized the fair value of our long-term debt, investments in debt securities held by our captive insurance subsidiaries, and restricted long-term investments in Canadian government bonds held in trust in accordance with the CER's regulatory requirements under the LMCI as Level 2. The fair value of our long-term debt is based on quoted market prices for instruments of similar yield, credit risk and tenor. When possible, the fair value of our restricted long-term investments is based on quoted market prices for similar instruments and, if not available, based on broker quotes. Level 3 Level 3 includes derivative valuations based on inputs which are less observable, unavailable or where the observable data does not support a significant portion of the derivative's fair value. Generally, Level 3 derivatives are longer dated transactions, occur in less active markets, occur at locations where pricing information is not available or have no binding broker quote to support Level 2 classification. We have developed methodologies, benchmarked against industry standards, to determine fair value for these derivatives based on the extrapolation of observable future prices and rates. Derivatives valued using Level 3 inputs primarily include long-dated derivative power, NGL and natural gas contracts, basis swaps, commodity swaps, and power and energy swaps, as well as physical forward commodity contracts. We do not have any other financial instruments categorized in Level 3. We use the most observable inputs available to estimate the fair value of our derivatives. When possible, we estimate the fair value of our derivatives based on quoted market prices. If quoted market prices are not available, we use estimates from third-party brokers. For non-exchange traded derivatives classified in Levels 2 and 3, we use standard valuation techniques to calculate the estimated fair value. These methods include discounted cash flows for forwards and swaps and Black-Scholes-Merton pricing models for options. Depending on the type of derivative and nature of the underlying risk, we use observable market prices (interest, foreign exchange, commodity and share price) and volatility as primary inputs to these valuation techniques. Finally, we consider our own credit default swap spread, as well as the credit default swap spreads associated with our counterparties, in our estimation of fair value. Fair Value of Derivatives We have categorized our derivative assets and liabilities measured at fair value as follows: March 31, 2024 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 124 — 124 Interest rate contracts — 102 — 102 Commodity contracts 35 82 124 241 35 308 124 467 Long-term derivative assets Foreign exchange contracts — 124 — 124 Interest rate contracts — 93 — 93 Commodity contracts — 14 73 87 — 231 73 304 Financial liabilities Current derivative liabilities Foreign exchange contracts — (238) — (238) Interest rate contracts — (99) — (99) Commodity contracts (63) (78) (174) (315) Other contracts — (1) — (1) (63) (416) (174) (653) Long-term derivative liabilities Foreign exchange contracts — (950) — (950) Interest rate contracts — (22) — (22) Commodity contracts — (16) (150) (166) — (988) (150) (1,138) Total net financial asset/(liability) Foreign exchange contracts — (940) — (940) Interest rate contracts — 74 — 74 Commodity contracts (28) 2 (127) (153) Other contracts — (1) — (1) (28) (865) (127) (1,020) December 31, 2023 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 139 — 139 Interest rate contracts — 65 — 65 Commodity contracts 142 103 173 418 Other contracts — 1 — 1 142 308 173 623 Long-term derivative assets Foreign exchange contracts — 335 — 335 Interest rate contracts — 53 — 53 Commodity contracts — 24 51 75 — 412 51 463 Financial liabilities Current derivative liabilities Foreign exchange contracts — (128) — (128) Interest rate contracts — (186) — (186) Commodity contracts (136) (76) (211) (423) Other contracts — (1) — (1) (136) (391) (211) (738) Long-term derivative liabilities Foreign exchange contracts — (498) — (498) Interest rate contracts — (88) — (88) Commodity contracts — (22) (144) (166) — (608) (144) (752) Total net financial asset/(liability) Foreign exchange contracts — (152) — (152) Interest rate contracts — (156) — (156) Commodity contracts 6 29 (131) (96) Other contracts — — — — 6 (279) (131) (404) The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments were as follows: March 31, 2024 Fair Unobservable Minimum Maximum Weighted Unit of (fair value in millions of Canadian dollars) Commodity contracts - financial 1 Natural gas (8) Forward gas price 1.73 8.97 3.72 $/mmbtu 2 Crude (7) Forward crude price 84.20 105.12 100.91 $/barrel Power (72) Forward power price 23.64 163.57 61.76 $/MW/H Commodity contracts - physical 1 Natural gas 18 Forward gas price 0.83 12.95 3.39 $/mmbtu 2 Crude 12 Forward crude price 79.56 115.53 99.80 $/barrel Power (70) Forward power price 19.59 184.82 63.68 $/MW/H (127) 1 Financial and physical forward commodity contracts are valued using a market approach valuation technique. 2 One million British thermal units (mmbtu). If adjusted, the significant unobservable inputs disclosed in the table above would have a direct impact on the fair value of our Level 3 derivative instruments. The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments include forward commodity prices. Changes in forward commodity prices could result in significantly different fair values for our Level 3 derivatives. Changes in the net fair value of derivative assets and liabilities classified as Level 3 in the fair value hierarchy were as follows: Three months ended 2024 2023 (millions of Canadian dollars) Level 3 net derivative liability at beginning of period (131) (136) Total gain/(loss), unrealized Included in earnings 1 (17) (44) Included in OCI 12 33 Settlements 9 (1) Level 3 net derivative liability at end of period (127) (148) 1 Reported within Transportation and other services revenues, Commodity costs and Operating and administrative expense in the Consolidated Statements of Earnings. There were no transfers into or out of Level 3 as at March 31, 2024 or December 31, 2023. Net Investment Hedges We currently have designated a portion of our US dollar-denominated debt as a hedge of our net investment in US dollar-denominated investments and subsidiaries. During the three months ended March 31, 2024 and 2023, we recognized unrealized foreign exchange losses of $377 million and gains of $59 million, respectively, on the translation of US dollar-denominated debt, in OCI. During the three months ended March 31, 2024 and 2023, we recognized nil and realized losses of $44 million, respectively, associated with the settlement of US dollar-denominated debt that had matured during the period, in OCI. Fair Value of Other Financial Instruments Certain long-term investments in other entities with no actively quoted prices are classified as Fair Value Measurement Alternative (FVMA) investments and are recorded at cost less impairment. The carrying value of FVMA investments totaled $176 million and $173 million as at March 31, 2024 and December 31, 2023, respectively. As at March 31, 2024, we had investments with a fair value of $743 million included in Restricted long-term investments in the Consolidated Statements of Financial Position (December 31, 2023 - $717 million). These securities are classified as available-for-sale and represent restricted funds which are collected from customers and held in trust for the purpose of funding pipeline abandonment in accordance with the CER's regulatory requirements. We had restricted long-term investments held in trust totaling $293 million as at March 31, 2024 which are classified as Level 1 in the fair value hierarchy (December 31, 2023 - $263 million). We also had restricted long-term investments held in trust totaling $450 million (cost basis - $507 million) and $454 million (cost basis - $486 million) as at March 31, 2024 and December 31, 2023, respectively, which are classified as Level 2 in the fair value hierarchy. There were unrealized holding losses of $13 million on these investments for the three months ended March 31, 2024 (2023 - gains of $34 million). We have wholly-owned captive insurance subsidiaries whose principal activity is providing insurance and reinsurance coverage for certain insurable property and casualty risk exposures of our operating subsidiaries and certain equity investments. As at March 31, 2024, the fair value of investments in equity funds and debt securities held by our captive insurance subsidiaries was $312 million and $251 million, respectively (December 31, 2023 - $287 million and $284 million, respectively). Our investments in debt securities had a cost basis of $247 million as at March 31, 2024 (December 31, 2023 - $279 million). These investments in equity funds and debt securities are recognized at fair value, classified as Level 1 and Level 2 in the fair value hierarchy, respectively, and are recorded in Other current assets and Long-term investments in the Consolidated Statements of Financial Position. There were unrealized holding gains of $16 million for the three months ended March 31, 2024, (2023 - gains of $15 million). As at March 31, 2024 and December 31, 2023, our long-term debt including finance lease liabilities had a carrying value of $87.6 billion and $81.2 billion, respectively, before debt issuance costs and a fair value of $84.6 billion and $78.1 billion, respectively. We also have non-current notes receivable carried at book value and recorded in Deferred amounts and other assets in the Consolidated Statements of Financial Position. As at March 31, 2024 and December 31, 2023, the non-current notes receivable had a carrying value of $53 million, respectively, which also approximates their fair value. The fair value of financial assets and liabilities other than derivative instruments, certain long-term investments in other entities, restricted long-term investments, investments held by our captive insurance subsidiaries, long-term debt and non-current notes receivable described above approximate their carrying value due to the short period to maturity.

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the three months ended March 31, 2024 and 2023 were 19.8% and 21.5%, respectively. The period-over-period decrease in the effective income tax rate is due to a state apportionment income tax rate change due to the EOG Acquisition, and the effects of rate-regulated accounting for income taxes, relative to lower earnings.

OTHER INCOME_(EXPENSE)

OTHER INCOME/(EXPENSE)	3 Months Ended
OTHER INCOME/(EXPENSE)	Mar. 31, 2024
Other Income and Expenses [Abstract]
OTHER INCOME/(EXPENSE)	OTHER INCOME/(EXPENSE) Three months ended March 31, 2024 2023 (millions of Canadian dollars) Realized foreign currency gain 122 145 Unrealized foreign currency loss (858) (188) Net defined pension and OPEB credit 41 33 Other 144 112 (551) 102

CONTINGENCIES

CONTINGENCIES	3 Months Ended
CONTINGENCIES	Mar. 31, 2024
Loss Contingency [Abstract]
CONTINGENCIES	CONTINGENCIES LITIGATION We and our subsidiaries are subject to various legal and regulatory actions and proceedings which arise in the normal course of business, including interventions in regulatory proceedings and challenges to regulatory approvals and permits. While the final outcome of such actions and proceedings cannot be predicted with certainty, management believes that the resolution of such actions and proceedings will not have a material impact on our interim consolidated financial position or results of operations. TAX MATTERS We and our subsidiaries maintain tax liabilities related to uncertain tax positions. While fully supportable in our view, these tax positions, if challenged by tax authorities, may not be fully sustained on review. INSURANCE We maintain an insurance program for us, our subsidiaries and certain of our affiliates to mitigate a certain portion of our risks. However, not all potential risks arising from our operations are insurable, or are insured by us as a result of availability, high premiums and for various other reasons. We self-insure a significant portion of certain risks through our wholly-owned captive insurance subsidiaries, which requires certain assumptions and management judgments regarding the frequency and severity of claims, claim development and settlement practices and the selection of estimated loss among estimates derived using different methods. Our insurance coverage is also subject to terms and conditions, exclusions and large deductibles or self-insured retentions which may reduce or eliminate coverage in certain circumstances. Our insurance policies are generally renewed on an annual basis and, depending on factors such as market conditions, the premiums, terms, policy limits and/or deductibles can vary substantially. We can give no assurance that we will be able to maintain adequate insurance in the future at rates or on other terms we consider commercially reasonable. In such case, we may decide to self-insure additional risks.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
SUBSEQUENT EVENT	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT DISPOSITION OF ALLIANCE PIPELINE AND AUX SABLE On April 1, 2024, we closed the sale of our 50.0% interest in the Alliance Pipeline and our interest in Aux Sable (includes a 42.7% interest in Aux Sable Midstream LLC and Aux Sable Liquid Products L.P., and a 50% interest in Aux Sable Canada LP) to Pembina Pipeline Corporation for $3.1 billion, including approximately $327 million of non-recourse debt, subject to customary closing adjustments. As part of the net gain on sale of approximately $1.1 billion before tax, we will allocate approximately $1.0 billion of the goodwill in our Gas Transmission segment to the disposal group.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - CAD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - CAD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Earnings attributable to controlling interests	$ 1,512	$ 1,817

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES (Policies)	3 Months Ended
CHANGES IN ACCOUNTING POLICIES (Policies)	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
FUTURE ACCOUNTING POLICY CHANGES	FUTURE ACCOUNTING POLICY CHANGES Segment Reporting Accounting Standards Update (ASU) 2023-07 was issued in November 2023 to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses and to require in interim period financial statements all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The new ASU requires entities to disclose the title and position of the individual or the name of the group or committee identified as the chief operating decision-maker (CODM) of each segment. ASU 2023-07 is effective January 1, 2024, with interim period disclosure requirements effective after January 1, 2025 and should be applied retrospectively to all prior periods presented in the financial statements. We are currently assessing the impact of the new standard on our interim financial statement disclosures for 2025 and the required annual disclosures will be adopted for the year ending December 31, 2024. Income Tax Disclosures ASU 2023-09 was issued in December 2023 to improve income tax disclosures by requiring specified categories in the annual rate reconciliation that meet quantitative thresholds and further disaggregation on income taxes paid by jurisdiction. ASU 2023-09 is effective January 1, 2025 and should be applied prospectively, with retrospective application being permitted. We are currently assessing the impact of the new standard on our consolidated financial statements.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
REVENUE (Tables)	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Major Products and Services	Major Products and Services Three months ended Liquids Gas Transmission Gas Renewable Power Generation Eliminations Consolidated (millions of Canadian dollars) Transportation revenue 3,024 1,341 351 — — 4,716 Storage and other revenue 62 138 99 — — 299 Gas distribution revenue — — 1,666 — — 1,666 Electricity revenue — — — 57 — 57 Commodity sales — 40 — — — 40 Total revenue from contracts with customers 3,086 1,519 2,116 57 — 6,778 Commodity sales 3,733 41 — — 331 4,105 Other revenue 1,2 63 6 13 73 — 155 Intersegment revenue — 6 2 1 (9) — Total revenue 6,882 1,572 2,131 131 322 11,038 Three months ended Liquids Gas Transmission Gas Renewable Power Generation Eliminations Consolidated (millions of Canadian dollars) Transportation revenue 2,942 1,384 276 — — 4,602 Storage and other revenue 64 95 99 — — 258 Gas distribution revenue — — 2,287 — — 2,287 Electricity revenue — — — 66 — 66 Total revenue from contracts with customers 3,006 1,479 2,662 66 — 7,213 Commodity sales 4,262 — — — 521 4,783 Other revenue 1,2 30 11 (40) 78 — 79 Intersegment revenue — 1 3 — (4) — Total revenue 7,298 1,491 2,625 144 517 12,075 1 Includes realized and unrealized gains and losses from our hedging program which for the three months ended March 31, 2024 were a net $22 million loss (2023 - $55 million loss). 2 Includes revenues from lease contracts for the three months ended March 31, 2024 and 2023 of $140 million and $144 million, respectively. Recognition and Measurement of Revenues Three months ended March 31, 2024 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — 40 29 — 69 Revenues from products and services transferred over time 1 3,086 1,479 2,087 57 6,709 Total revenue from contracts with customers 3,086 1,519 2,116 57 6,778 Three months ended March 31, 2023 Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Consolidated (millions of Canadian dollars) Revenues from products transferred at a point in time — — 30 — 30 Revenues from products and services transferred over time 1 3,006 1,479 2,632 66 7,183 Total revenue from contracts with customers 3,006 1,479 2,662 66 7,213 1 Revenue 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 Balances Contract Receivables Contract Assets Contract Liabilities (millions of Canadian dollars) Balance as at March 31, 2024 2,962 337 2,537 Balance as at December 31, 2023 2,802 400 2,591

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	3 Months Ended
SEGMENTED INFORMATION (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Reporting Information by Segment	Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 6,882 1,572 2,131 131 322 11,038 Commodity and gas distribution costs (3,635) (47) (1,004) (3) (311) (5,000) Operating and administrative (1,107) (561) (379) (69) (18) (2,134) Income/(loss) from equity investments 253 265 — 181 (3) 696 Other income/(expense) (Note 11) 11 36 17 17 (632) (551) Earnings/(loss) before interest, income taxes and depreciation and amortization 2,404 1,265 765 257 (642) 4,049 Depreciation and amortization (1,193) Interest expense (905) Income tax expense (386) Earnings 1,565 Capital expenditures 2 289 495 304 69 43 1,200 Three months ended Liquids Pipelines Gas Transmission Gas Distribution and Storage Renewable Power Generation Eliminations and Other 1 Consolidated (millions of Canadian dollars) Operating revenues (Note 3) 7,298 1,491 2,625 144 517 12,075 Commodity and gas distribution costs (4,132) — (1,612) (4) (482) (6,230) Operating and administrative (1,135) (549) (309) (53) 9 (2,037) Income/(loss) from equity investments 248 238 — 35 (4) 517 Other income/(expense) (Note 11) 74 25 12 14 (23) 102 Earnings before interest, income taxes and depreciation and amortization 2,353 1,205 716 136 17 4,427 Depreciation and amortization (1,146) Interest expense (905) Income tax expense (510) Earnings 1,866 Capital expenditures 2 280 527 264 45 25 1,141 1 Includes operating revenues and commodity costs from our natural gas and power marketing subsidiaries for the three months ended March 31, 2024 of $332 million (2023 - $520 million) and $322 million (2023 - $499 million), respectively. 2 Includes allowance for equity funds used during construction.

EARNINGS PER COMMON SHARE AND_2

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE (Tables)	3 Months Ended
EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Weighted Average Shares Outstanding Used to Calculate Basic and Diluted Earnings Per Common Share	Weighted average shares outstanding used to calculate basic and diluted earnings per common share are as follows: Three months ended 2024 2023 (number of shares in millions) Weighted average shares outstanding 2,126 2,025 Effect of dilutive options and RSUs 2 3 Diluted weighted average shares outstanding 2,128 2,028
Schedule of Preferred Stock Characteristics by Class	On April 23, 2024, our Board of Directors declared the following quarterly dividends. All dividends are payable on June 1, 2024 to shareholders of record on May 15, 2024. Dividend per share Common Shares $0.91500 Preference Shares, Series A $0.34375 Preference Shares, Series B $0.32513 Preference Shares, Series D $0.33825 Preference Shares, Series F $0.34613 Preference Shares, Series G 1 $0.47383 Preference Shares, Series H $0.38200 Preference Shares, Series I 2 $0.44932 Preference Shares, Series L US$0.36612 Preference Shares, Series N $0.41850 Preference Shares, Series P 3 $0.36988 Preference Shares, Series R $0.25456 Preference Shares, Series 1 US$0.41898 Preference Shares, Series 3 $0.23356 Preference Shares, Series 5 4 US$0.41769 Preference Shares, Series 7 5 $0.37425 Preference Shares, Series 9 $0.25606 Preference Shares, Series 11 $0.24613 Preference Shares, Series 13 $0.19019 Preference Shares, Series 15 $0.18644 Preference Shares, Series 19 $0.38825 1 The quarterly dividend per share paid on Preference Shares, Series G was decreased to $0.47383 from $0.47676 on March 1, 2024 due to reset on a quarterly basis. 2 The quarterly dividend per share paid on Preference Shares, Series I was decreased to $0.44932 from $0.45251 on March 1, 2024 due to reset on a quarterly basis. 3 The quarterly dividend per share paid on Preference Shares, Series P was increased to $0.36988 from $0.27369 on March 1, 2024 due to reset of the annual dividend on March 1, 2024. 4 The quarterly dividend per share paid on Preference Shares, Series 5 was increased to US$0.41769 from US$0.33596 on March 1, 2024 due to reset of the annual dividend on March 1, 2024. 5 The quarterly dividend per share paid on Preference Shares, Series 7 was increased to $0.37425 from $0.27806 on March 1, 2024 due to reset of the annual dividend on March 1, 2024.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
ACQUISITIONS (Tables)	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated preliminary fair values that were assigned to the net assets of EOG: March 6, (millions of Canadian dollars) Fair value of net assets acquired: Current assets (a) 641 Property, plant and equipment (b) 7,253 Long-term assets (c) 1,647 Current liabilities 670 Long-term debt (d) 2,612 Other long-term liabilities (e) 993 Deferred income tax liabilities 1,036 Goodwill (f) 1,608 Purchase price: Cash 5,838 a) Current assets consist primarily of cash, trade and other accounts receivable, prepaid expenses, regulatory assets and inventory. The fair value of trade receivables from customers approximates their carrying value of $376 million due to the short period to maturity. A provision for credit and recovery risk associated with accounts receivable has been made through the expected credit loss, which totaled $3 million. b) EOG's property, plant and equipment constitutes an integrated system of rate-regulated natural gas transmission, gathering, distribution and storage assets. For these rate-regulated assets, fair value was determined using a market participant perspective. Given the regulated nature of, and fixed return on the assets, the fair value of property, plant and equipment acquired is equal to its carrying value. c) Long-term assets consist primarily of overfunded pension plan assets of $395 million and $1.2 billion of regulatory assets expected to be recovered from customers in future periods through rates. Pension plan assets attributable to the workforce acquired from EOG were transferred in cash to an Enbridge-sponsored pension plan based on their fair value as at December 31, 2023, subject to closing adjustments. The fair value of plan assets was determined using unadjusted quoted market prices for identical investments. d) The fair value of long-term debt was determined based on the current underlying US Treasury interest rates on instruments of similar yield, credit risk and tenor, as well as an implied credit spread based on current market conditions. We recorded a fair value adjustment to reduce long-term debt by $478 million with no corresponding regulatory offset. e) Other long-term liabilities consist primarily of regulatory liabilities expected to be refunded to customers in future periods through rates. f) Goodwill is primarily attributable to the existing assembled assets and workforce of EOG that cannot be duplicated at the same cost by a new entrant and the enhanced scale and geographic diversity of our regulated natural gas distribution business, which provides platforms for future growth and optimization with existing assets. The goodwill balance recognized has been assigned to our Gas Distribution and Storage segment and is not tax deductible. The following table summarizes the estimated preliminary fair values that were assigned to the net assets of Tomorrow RNG: January 2, 2024 (millions of Canadian dollars) Fair value of net assets acquired: Current assets 31 Intangible assets (a) 925 Property, plant and equipment (b) 174 Current liabilities 5 Goodwill (c) 223 Purchase price: Cash 584 Deferred consideration (d): Current portion of long-term debt 550 Long-term debt 207 Other adjustments 7 1,348 a) Intangible assets consist of long-term gas supply agreements with the respective facility's landfill owner. Fair value was determined using an income-based approach, specifically the multi-period excess earnings method, by estimating the present value of the after-tax cash flows attributable to the gas rights. The intangible assets will be amortized on a straight-line basis over the term of the respective agreement, inclusive of extension options, which range from 13 to 42 years. b) Tomorrow RNG's property, plant and equipment constitutes specialized landfill gas plant and equipment which collects gas produced by waste decomposition, treats and compresses the gas to pipeline specifications. The direct method of replacement cost was used to determine the majority of the fair value of property, plant and equipment. Adjustments were then applied for estimated physical deterioration. c) Goodwill is primarily attributable to expected future returns from a portfolio of both operating and scalable RNG assets, furthering the diversity of our renewable projects portfolio and accelerating progress toward our energy transition goals. The goodwill balance recognized has been assigned to our Gas Transmission segment and is tax deductible over 15 years. d) We entered into six non-interest bearing promissory notes due to Morrow Renewables, the total value of which represents deferred payments of $808 million (US$606 million) due within two years. The first and second payments are due on January 2, 2025 and December 31, 2025, respectively. The $757 million (US$568 million) recognized in the purchase price represents the fair value of deferred consideration at the date of acquisition using the imputed interest rate method over the terms of the notes.
Schedule of Supplemental Pro Forma Consolidated Financial Information	Our supplemental pro forma consolidated financial information for the three months ended March 31, 2024 and 2023, including the results of operations for EOG as if the EOG Acquisition had been completed on January 1, 2023, are as follows: Three months ended 2024 2023 (unaudited; millions of Canadian dollars) Operating revenues 11,346 12,496 Earnings attributable to common shareholders 1 1,476 1,770 1 Includes adjustment for pro forma interest expense on debt financing for the EOG Acquisition of $41 million (after-tax of $33 million) for the three months ended March 31, 2023.

DEBT (Tables)

DEBT (Tables)	3 Months Ended
DEBT (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Credit Facilities	The following table provides details of our committed credit facilities as at March 31, 2024: Maturity 1 Total Draws 2 Available (millions of Canadian dollars) Enbridge Inc. 2024-2049 9,036 5,690 3,346 Enbridge (U.S.) Inc. 2025-2028 8,594 3,681 4,913 Enbridge Pipelines Inc. 2025 2,000 728 1,272 Enbridge Gas Inc. 2025 2,500 335 2,165 Total committed credit facilities 22,130 10,434 11,696 1 Maturity date is inclusive of the one-year term out option for certain credit facilities. 2 Includes facility draws and commercial paper issuances that are back-stopped by credit facilities.
Schedule of Repayment of Debt	During the three months ended March 31, 2024, we completed the following long-term debt repayments totaling US$2.7 billion and $0.2 billion: Company Repayment Date Principal Amount (millions of Canadian dollars, unless otherwise stated) Enbridge Inc. February 2024 Floating rate notes 1 US$600 February 2024 2.15% senior notes US$400 March 2024 5.97% senior notes 2 US$700 Enbridge Pipelines Inc. February 2024 8.20% debentures $200 Enbridge Southern Lights LP January 2024 4.01% senior notes $10 Spectra Energy Partners, LP March 2024 4.75% senior notes US$1,000 1 The notes carried an interest rate set to equal the Secured Overnight Financing Rate plus a margin of 63 basis points. 2 The notes carried an original maturity date in March 2026, and were callable one
Schedule of Amortization of Fair Value Adjustment	Amortization of the fair value adjustment is recorded as an increase to Interest expense in the Consolidated Statements of Earnings: Three months ended March 31, 2024 2023 (millions of Canadian dollars) Amortization of fair value adjustment 12 11

COMPONENTS OF ACCUMULATED OTH_2

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of Changes in AOCI Attributable to Enbridge, Inc. Common Shareholders	Changes in Accumulated other comprehensive income (AOCI) attributable to our common shareholders for the three months ended March 31, 2024 and 2023 are as follows: Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2024 320 (23) (728) 2,653 11 70 2,303 Other comprehensive income/(loss) retained in AOCI 144 (15) (377) 1,629 (1) — 1,380 Other comprehensive (income)/loss reclassified to earnings Foreign exchange contracts 1 — 19 — — — — 19 Amortization of pension and OPEB actuarial gain 2 — — — — — (5) (5) 144 4 (377) 1,629 (1) (5) 1,394 Tax impact Income tax on amounts retained in AOCI (34) 4 — — — — (30) Income tax on amounts reclassified to earnings — (4) — — — 1 (3) (34) — — — — 1 (33) Balance as at March 31, 2024 430 (19) (1,105) 4,282 10 66 3,664 Cash Excluded Net Cumulative Equity Pension Total (millions of Canadian dollars) Balance as at January 1, 2023 121 (35) (1,137) 4,348 5 218 3,520 Other comprehensive income/(loss) retained in AOCI (90) 7 15 (57) — — (125) Other comprehensive (income)/loss reclassified to earnings Interest rate contracts 3 8 — — — — — 8 Other contracts 4 1 — — — — — 1 Amortization of pension and OPEB actuarial gain 2 — — — — — (5) (5) (81) 7 15 (57) — (5) (121) Tax impact Income tax on amounts retained in AOCI 28 — — — — — 28 Income tax on amounts reclassified to earnings (2) — — — — 1 (1) 26 — — — — 1 27 Balance as at March 31, 2023 66 (28) (1,122) 4,291 5 214 3,426 1 Reported within Transportation and other services revenues and Other income/(expense) in the Consolidated Statements of Earnings. 2 These components are included in the computation of net periodic benefit credit and are reported within Other income/(expense) in the Consolidated Statements of Earnings. 3 Reported within Interest expense in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.

RISK MANAGEMENT AND FINANCIAL_2

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Tables)	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the Consolidated Statements of Financial Position Location and Carrying Value of Derivative Instruments	The following tables summarize the Consolidated Statements of Financial Position location and carrying value of our derivative instruments, as well as the maximum potential settlement amounts, in the event of the specific circumstances described above. March 31, 2024 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 32 92 124 (26) 98 Interest rate contracts 51 — 51 102 (50) 52 Commodity contracts — — 241 241 (157) 84 51 32 384 467 (233) 234 Deferred amounts and other assets Foreign exchange contracts — — 124 124 (98) 26 Interest rate contracts 67 — 26 93 (7) 86 Commodity contracts — — 87 87 (40) 47 67 — 237 304 (145) 159 Other current liabilities Foreign exchange contracts — (43) (195) (238) 26 (212) Interest rate contracts (97) — (2) (99) 50 (49) Commodity contracts (4) — (311) (315) 157 (158) Other contracts — — (1) (1) — (1) (101) (43) (509) (653) 233 (420) Other long-term liabilities Foreign exchange contracts — (51) (899) (950) 98 (852) Interest rate contracts — — (22) (22) 7 (15) Commodity contracts (2) — (164) (166) 40 (126) (2) (51) (1,085) (1,138) 145 (993) Total net derivative asset/(liability) Foreign exchange contracts — (62) (878) (940) — (940) Interest rate contracts 21 — 53 74 — 74 Commodity contracts (6) — (147) (153) — (153) Other contracts — — (1) (1) — (1) 15 (62) (973) (1,020) — (1,020) December 31, 2023 Derivative Derivative Non- Total Gross Amounts Total Net (millions of Canadian dollars) Other current assets Foreign exchange contracts — 41 98 139 (32) 107 Interest rate contracts 31 — 34 65 (32) 33 Commodity contracts — — 418 418 (270) 148 Other contracts — — 1 1 (1) — 31 41 551 623 (335) 288 Deferred amounts and other assets Foreign exchange contracts — 16 319 335 (122) 213 Interest rate contracts 51 — 2 53 (21) 32 Commodity contracts — — 75 75 (41) 34 51 16 396 463 (184) 279 Other current liabilities Foreign exchange contracts — (44) (84) (128) 32 (96) Interest rate contracts (183) — (3) (186) 32 (154) Commodity contracts (11) — (412) (423) 270 (153) Other contracts — — (1) (1) 1 — (194) (44) (500) (738) 335 (403) Other long-term liabilities Foreign exchange contracts — (17) (481) (498) 122 (376) Interest rate contracts (3) — (85) (88) 21 (67) Commodity contracts (7) — (159) (166) 41 (125) (10) (17) (725) (752) 184 (568) Total net derivative liability Foreign exchange contracts — (4) (148) (152) — (152) Interest rate contracts (104) — (52) (156) — (156) Commodity contracts (18) — (78) (96) — (96) Other contracts — — — — — — (122) (4) (278) (404) — (404)
Schedule of the Maturity and Notional Principal or Quantity Outstanding Related to Derivative Instruments	The following table summarizes the maturity and notional principal or quantity outstanding related to our derivative instruments: March 31, 2024 2024 2025 2026 2027 2028 Thereafter Total Foreign exchange contracts - US dollar forwards - purchase (millions of US dollars) 715 500 — — — — 1,215 Foreign exchange contracts - US dollar forwards - sell (millions of US dollars) 5,368 5,327 4,697 4,091 3,162 888 23,533 Foreign exchange contracts - British pound (GBP) forwards - sell (millions of GBP) 25 30 28 32 — — 115 Foreign exchange contracts - Euro forwards - sell (millions of Euro) 106 126 121 81 67 195 696 Foreign exchange contracts - Japanese yen forwards - purchase (millions of yen) — 84,800 — — — — 84,800 Interest rate contracts - short-term pay fixed rate (millions of Canadian dollars) 4,726 1,904 1,130 75 25 13 7,873 Interest rate contracts - short-term receive fixed rate (millions of Canadian dollars) 708 947 179 — — — 1,834 Interest rate contracts - long-term pay fixed rate (millions of Canadian dollars) 1 5,436 588 — — — — 6,024 Interest rate contracts - costless collar (millions of Canadian dollars) — 1,382 53 — — — 1,435 Commodity contracts - natural gas (billions of cubic feet) 50 28 18 12 — — 108 Commodity contracts - crude oil (millions of barrels) 13 — — — — — 13 Commodity contracts - power (megawatt per hour (MW/H)) 51 (18) (35) (51) (49) (30) (25) 2 1 Represents the notional amount of long-term debt issuances hedged. 2 Total is an average net purchase/(sale) of power.
Schedule of Effect of Cash Flow Hedges and Net Investment Hedges on Consolidated Earnings and Consolidated Comprehensive Income, Before Income Taxes	The following table presents foreign exchange derivative instruments that are designated and qualify as fair value hedges. The realized and unrealized gain or loss on the derivative is included in Other income/(expense) or Interest expense in the Consolidated Statements of Earnings. The offsetting loss or gain on the hedged item attributable to the hedged risk is included in Other income/(expense) in the Consolidated Statements of Earnings. Any excluded components are included in the Consolidated Statements of Comprehensive Income. Three months ended 2024 2023 (millions of Canadian dollars) Unrealized loss on derivative (63) (11) Unrealized gain on hedged item 74 11 Realized gain/(loss) on derivative 59 (11) Realized loss on hedged item (79) — The following table presents the effect of cash flow hedges and fair value hedges on our consolidated earnings and comprehensive income, before the effect of income taxes: Three months ended 2024 2023 (millions of Canadian dollars) Amount of unrealized gain/(loss) recognized in OCI Cash flow hedges Interest rate contracts 138 (105) Commodity contracts 12 34 Other contracts 1 (2) Fair value hedges Foreign exchange contracts (15) 7 136 (66) Amount of loss reclassified from AOCI to earnings Foreign exchange contracts 1 19 — Interest rate contracts 2 — 8 Other contracts 3 — 1 19 9 1 Reported within Other income/(expense) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.
Schedule of Unrealized Gains and Losses Associated With Changes in the Fair Value of Non-Qualifying Derivatives	The following table presents the unrealized gains and losses associated with changes in the fair value of our non-qualifying derivatives: Three months ended 2024 2023 (millions of Canadian dollars) Foreign exchange contracts 1 (730) 556 Interest rate contracts 2 105 10 Commodity contracts 3 (67) (39) Other contracts 4 (1) (7) Total unrealized derivative fair value gain/(loss), net (693) 520 1 For the respective three months ended periods, reported within Transportation and other services revenues (2024 - nil; 2023 - $645 million gain) and Other income/(expense) (2024 - $730 million loss; 2023 - $89 million loss) in the Consolidated Statements of Earnings. 2 Reported within Interest expense in the Consolidated Statements of Earnings. 3 For the respective three months ended periods, reported within Transportation and other services revenues (2024 - $35 million loss; 2023 - $6 million gain), Commodity sales (2024 - $37 million loss; 2023 - $69 million gain), Commodity costs (2024 - $23 million gain; 2023 - $75 million loss) and Operating and administrative expense (2024 - $18 million loss; 2023 - $39 million loss) in the Consolidated Statements of Earnings. 4 Reported within Operating and administrative expense in the Consolidated Statements of Earnings.
Schedule of Group Credit Concentrations and Maximum Credit Exposure, With Respect to Derivative Instruments	We have credit concentrations and credit exposure, with respect to derivative instruments, in the following counterparty segments: March 31, December 31, (millions of Canadian dollars) Canadian financial institutions 353 457 US financial institutions 91 252 European financial institutions 69 107 Asian financial institutions 85 121 Other 1 119 125 717 1,062 1 Other is comprised of commodity clearing house and physical natural gas and crude oil counterparties.
Schedule of Derivative Assets and Liabilities Measured at Fair Value	We have categorized our derivative assets and liabilities measured at fair value as follows: March 31, 2024 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 124 — 124 Interest rate contracts — 102 — 102 Commodity contracts 35 82 124 241 35 308 124 467 Long-term derivative assets Foreign exchange contracts — 124 — 124 Interest rate contracts — 93 — 93 Commodity contracts — 14 73 87 — 231 73 304 Financial liabilities Current derivative liabilities Foreign exchange contracts — (238) — (238) Interest rate contracts — (99) — (99) Commodity contracts (63) (78) (174) (315) Other contracts — (1) — (1) (63) (416) (174) (653) Long-term derivative liabilities Foreign exchange contracts — (950) — (950) Interest rate contracts — (22) — (22) Commodity contracts — (16) (150) (166) — (988) (150) (1,138) Total net financial asset/(liability) Foreign exchange contracts — (940) — (940) Interest rate contracts — 74 — 74 Commodity contracts (28) 2 (127) (153) Other contracts — (1) — (1) (28) (865) (127) (1,020) December 31, 2023 Level 1 Level 2 Level 3 Total Gross (millions of Canadian dollars) Financial assets Current derivative assets Foreign exchange contracts — 139 — 139 Interest rate contracts — 65 — 65 Commodity contracts 142 103 173 418 Other contracts — 1 — 1 142 308 173 623 Long-term derivative assets Foreign exchange contracts — 335 — 335 Interest rate contracts — 53 — 53 Commodity contracts — 24 51 75 — 412 51 463 Financial liabilities Current derivative liabilities Foreign exchange contracts — (128) — (128) Interest rate contracts — (186) — (186) Commodity contracts (136) (76) (211) (423) Other contracts — (1) — (1) (136) (391) (211) (738) Long-term derivative liabilities Foreign exchange contracts — (498) — (498) Interest rate contracts — (88) — (88) Commodity contracts — (22) (144) (166) — (608) (144) (752) Total net financial asset/(liability) Foreign exchange contracts — (152) — (152) Interest rate contracts — (156) — (156) Commodity contracts 6 29 (131) (96) Other contracts — — — — 6 (279) (131) (404)
Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Level 3 Derivative Instruments	The significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments were as follows: March 31, 2024 Fair Unobservable Minimum Maximum Weighted Unit of (fair value in millions of Canadian dollars) Commodity contracts - financial 1 Natural gas (8) Forward gas price 1.73 8.97 3.72 $/mmbtu 2 Crude (7) Forward crude price 84.20 105.12 100.91 $/barrel Power (72) Forward power price 23.64 163.57 61.76 $/MW/H Commodity contracts - physical 1 Natural gas 18 Forward gas price 0.83 12.95 3.39 $/mmbtu 2 Crude 12 Forward crude price 79.56 115.53 99.80 $/barrel Power (70) Forward power price 19.59 184.82 63.68 $/MW/H (127) 1 Financial and physical forward commodity contracts are valued using a market approach valuation technique. 2 One million British thermal units (mmbtu).
Schedule of Changes in Net Fair Value of Derivative Assets and Liabilities Classified as Level 3 in the Fair Value Hierarchy	Changes in the net fair value of derivative assets and liabilities classified as Level 3 in the fair value hierarchy were as follows: Three months ended 2024 2023 (millions of Canadian dollars) Level 3 net derivative liability at beginning of period (131) (136) Total gain/(loss), unrealized Included in earnings 1 (17) (44) Included in OCI 12 33 Settlements 9 (1) Level 3 net derivative liability at end of period (127) (148) 1 Reported within Transportation and other services revenues, Commodity costs and Operating and administrative expense in the Consolidated Statements of Earnings.

OTHER INCOME_(EXPENSE) (Tables)

OTHER INCOME/(EXPENSE) (Tables)	3 Months Ended
OTHER INCOME/(EXPENSE) (Tables)	Mar. 31, 2024
Other Income and Expenses [Abstract]
Schedule of Other Income/(Expense)	Three months ended March 31, 2024 2023 (millions of Canadian dollars) Realized foreign currency gain 122 145 Unrealized foreign currency loss (858) (188) Net defined pension and OPEB credit 41 33 Other 144 112 (551) 102

REVENUE - Major Products and Se

REVENUE - Major Products and Services (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 6,778	$ 7,213
Total revenue	11,038	12,075
Realized loss on derivative	22	55
Revenues from lease contracts	140	144
Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	4,716	4,602
Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	299	258
Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,666	2,287
Total revenue	1,699	2,279
Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	57	66
Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	40
Revenue not from contract with customers	4,105	4,783
Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	155	79
Liquids Pipelines
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,086	3,006
Gas Transmission
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,519	1,479
Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,116	2,662
Renewable Power Generation
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	57	66
Business segments \| Liquids Pipelines
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,086	3,006
Total revenue	6,882	7,298
Business segments \| Liquids Pipelines \| Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,024	2,942
Business segments \| Liquids Pipelines \| Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	62	64
Business segments \| Liquids Pipelines \| Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Business segments \| Liquids Pipelines \| Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Business segments \| Liquids Pipelines \| Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0
Revenue not from contract with customers	3,733	4,262
Business segments \| Liquids Pipelines \| Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	63	30
Business segments \| Gas Transmission
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,519	1,479
Total revenue	1,572	1,491
Business segments \| Gas Transmission \| Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,341	1,384
Business segments \| Gas Transmission \| Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	138	95
Business segments \| Gas Transmission \| Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Business segments \| Gas Transmission \| Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Business segments \| Gas Transmission \| Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	40
Revenue not from contract with customers	41	0
Business segments \| Gas Transmission \| Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	6	11
Business segments \| Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,116	2,662
Total revenue	2,131	2,625
Business segments \| Gas Distribution and Storage \| Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	351	276
Business segments \| Gas Distribution and Storage \| Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	99	99
Business segments \| Gas Distribution and Storage \| Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,666	2,287
Business segments \| Gas Distribution and Storage \| Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Business segments \| Gas Distribution and Storage \| Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0
Revenue not from contract with customers	0	0
Business segments \| Gas Distribution and Storage \| Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	13	(40)
Business segments \| Renewable Power Generation
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	57	66
Total revenue	131	144
Business segments \| Renewable Power Generation \| Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Business segments \| Renewable Power Generation \| Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Business segments \| Renewable Power Generation \| Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Business segments \| Renewable Power Generation \| Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	57	66
Business segments \| Renewable Power Generation \| Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0
Revenue not from contract with customers	0	0
Business segments \| Renewable Power Generation \| Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	73	78
Eliminations and Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Total revenue	322	517
Eliminations and Other \| Transportation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Eliminations and Other \| Storage and other revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Eliminations and Other \| Gas distribution revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Eliminations and Other \| Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Eliminations and Other \| Commodity sales
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0
Revenue not from contract with customers	331	521
Eliminations and Other \| Other revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Intersegment revenue
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	(9)	(4)
Intersegment revenue \| Liquids Pipelines
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	0	0
Intersegment revenue \| Gas Transmission
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	6	1
Intersegment revenue \| Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	2	3
Intersegment revenue \| Renewable Power Generation
Disaggregation of Revenue [Line Items]
Revenue not from contract with customers	$ 1	$ 0

REVENUE - Contract Balances (De

REVENUE - Contract Balances (Details) - CAD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract Receivables	$ 2,962	$ 2,802
Contract Assets	337	400
Contract Liabilities	$ 2,537	$ 2,591

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) $ in Millions	3 Months Ended
REVENUE - Narrative (Details) $ in Millions	Mar. 31, 2024 CAD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 151
Increase in contract with customers, liability	117
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	60,500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 6,200
Remaining performance obligation, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 7,900
Remaining performance obligation, period	1 year

REVENUE - Recognition and Measu

REVENUE - Recognition and Measurement of Revenues (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 6,778	$ 7,213
Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	69	30
Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	6,709	7,183
Liquids Pipelines
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,086	3,006
Liquids Pipelines \| Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Liquids Pipelines \| Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,086	3,006
Gas Transmission
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,519	1,479
Gas Transmission \| Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	40	0
Gas Transmission \| Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,479	1,479
Gas Distribution and Storage
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,116	2,662
Gas Distribution and Storage \| Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	29	30
Gas Distribution and Storage \| Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,087	2,632
Renewable Power Generation
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	57	66
Renewable Power Generation \| Revenues from products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0
Renewable Power Generation \| Revenue from products and services transferred over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 57	$ 66

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - CAD ($) $ in Millions	3 Months Ended
SEGMENTED INFORMATION (Details) - CAD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Segmented Information
Operating revenues	$ 11,038	$ 12,075
Commodity and gas distribution costs	(5,000)	(6,230)
Operating and administrative	(2,134)	(2,037)
Income/(loss) from equity investments	696	517
Other income/(expense)	(551)	102
Earnings/(loss) before interest, income taxes and depreciation and amortization	4,049	4,427
Depreciation and amortization	(1,193)	(1,146)
Interest expense	(905)	(905)
Income tax expense	(386)	(510)
Earnings	1,565	1,866
Capital expenditures	1,200	1,141
Energy Marketing Subsidiaries \| Subsidiaries
Segmented Information
Operating revenues	332	520
Commodity and gas distribution costs	(322)	(499)
Business segments \| Liquids Pipelines
Segmented Information
Operating revenues	6,882	7,298
Commodity and gas distribution costs	(3,635)	(4,132)
Operating and administrative	(1,107)	(1,135)
Income/(loss) from equity investments	253	248
Other income/(expense)	11	74
Earnings/(loss) before interest, income taxes and depreciation and amortization	2,404	2,353
Capital expenditures	289	280
Business segments \| Gas Transmission
Segmented Information
Operating revenues	1,572	1,491
Commodity and gas distribution costs	(47)	0
Operating and administrative	(561)	(549)
Income/(loss) from equity investments	265	238
Other income/(expense)	36	25
Earnings/(loss) before interest, income taxes and depreciation and amortization	1,265	1,205
Capital expenditures	495	527
Business segments \| Gas Distribution and Storage
Segmented Information
Operating revenues	2,131	2,625
Commodity and gas distribution costs	(1,004)	(1,612)
Operating and administrative	(379)	(309)
Income/(loss) from equity investments	0	0
Other income/(expense)	17	12
Earnings/(loss) before interest, income taxes and depreciation and amortization	765	716
Capital expenditures	304	264
Business segments \| Renewable Power Generation
Segmented Information
Operating revenues	131	144
Commodity and gas distribution costs	(3)	(4)
Operating and administrative	(69)	(53)
Income/(loss) from equity investments	181	35
Other income/(expense)	17	14
Earnings/(loss) before interest, income taxes and depreciation and amortization	257	136
Capital expenditures	69	45
Eliminations and Other
Segmented Information
Operating revenues	322	517
Commodity and gas distribution costs	(311)	(482)
Operating and administrative	(18)	9
Income/(loss) from equity investments	(3)	(4)
Other income/(expense)	(632)	(23)
Earnings/(loss) before interest, income taxes and depreciation and amortization	(642)	17
Capital expenditures	$ 43	$ 25

EARNINGS PER COMMON SHARE AND_3

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Weighted Average Shares Outstanding (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Weighted average shares outstanding (in shares)	2,126	2,025
Effect of dilutive options and RSUs (in shares)	2	3
Diluted weighted average shares outstanding (in shares)	2,128	2,028

EARNINGS PER COMMON SHARE AND_4

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Narrative (Details) - Stock options - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive securities
Antidilutive securities excluded from the diluted earnings per common share calculation (in shares)	23	16.7
Weighted average exercise price of antidilutive securities (in Canadian dollars per share)	$ 52.97	$ 55.62

EARNINGS PER COMMON SHARE AND_5

EARNINGS PER COMMON SHARE AND DIVIDENDS PER SHARE - Dividends Per Share (Details)									3 Months Ended
	Jun. 01, 2024 $ / shares	Jun. 01, 2024 $ / shares	Apr. 23, 2024 $ / shares	Apr. 23, 2024 $ / shares	Mar. 01, 2024 $ / shares	Mar. 01, 2024 $ / shares	Feb. 29, 2024 $ / shares	Feb. 29, 2024 $ / shares	Mar. 31, 2024 $ / shares	Mar. 31, 2023 $ / shares
Dividends Payable [Line Items]
Common stock, dividends per share, paid (in canadian dollars per share)									$ 0.92	$ 0.89
Common shares \| Forecast
Dividends Payable [Line Items]
Common stock, dividends per share, paid (in canadian dollars per share)	$ 0.91500
Common shares \| Subsequent event
Dividends Payable [Line Items]
Common stock, dividends, per share, declared (in Canadian dollars per share)			$ 0.91500
Preferred share investment \| Preference Shares, Series A \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.34375
Preferred share investment \| Preference Shares, Series A \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.34375
Preferred share investment \| Preference Shares, Series B \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.32513
Preferred share investment \| Preference Shares, Series B \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.32513
Preferred share investment \| Preference Shares, Series D \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.33825
Preferred share investment \| Preference Shares, Series D \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.33825
Preferred share investment \| Preference Shares, Series F \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.34613
Preferred share investment \| Preference Shares, Series F \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.34613
Preferred share investment \| Preference Shares, Series G
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)					$ 0.47383		$ 0.47676
Preferred share investment \| Preference Shares, Series G \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.47383
Preferred share investment \| Preference Shares, Series G \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.47383
Preferred share investment \| Preference Shares, Series H \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.38200
Preferred share investment \| Preference Shares, Series H \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.38200
Preferred share investment \| Preference Shares, Series I
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)					0.44932		0.45251
Preferred share investment \| Preference Shares, Series I \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)	0.44932
Preferred share investment \| Preference Shares, Series I \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)			0.44932
Preferred share investment \| Preference Shares, Series L \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)		$ 0.36612
Preferred share investment \| Preference Shares, Series L \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)				$ 0.36612
Preferred share investment \| Preference Shares, Series N \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.41850
Preferred share investment \| Preference Shares, Series N \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.41850
Preferred share investment \| Preference Shares, Series P
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)					$ 0.36988		$ 0.27369
Preferred share investment \| Preference Shares, Series P \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.36988
Preferred share investment \| Preference Shares, Series P \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.36988
Preferred share investment \| Preference Shares, Series R \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.25456
Preferred share investment \| Preference Shares, Series R \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.25456
Preferred share investment \| Preference Shares, Series 1 \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)		0.41898
Preferred share investment \| Preference Shares, Series 1 \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)				0.41898
Preferred share investment \| Preference Shares, Series 3 \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.23356
Preferred share investment \| Preference Shares, Series 3 \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.23356
Preferred share investment \| Preference Shares, Series 5
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)						$ 0.41769		$ 0.33596
Preferred share investment \| Preference Shares, Series 5 \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)		$ 0.41769
Preferred share investment \| Preference Shares, Series 5 \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)				$ 0.41769
Preferred share investment \| Preference Shares, Series 7
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)						$ 0.37425		$ 0.27806
Preferred share investment \| Preference Shares, Series 7 \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.37425
Preferred share investment \| Preference Shares, Series 7 \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.37425
Preferred share investment \| Preference Shares, Series 9 \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.25606
Preferred share investment \| Preference Shares, Series 9 \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.25606
Preferred share investment \| Preference Shares, Series 11 \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.24613
Preferred share investment \| Preference Shares, Series 11 \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.24613
Preferred share investment \| Preference Shares, Series 13 \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.19019
Preferred share investment \| Preference Shares, Series 13 \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.19019
Preferred share investment \| Preference Shares, Series 15 \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	0.18644
Preferred share investment \| Preference Shares, Series 15 \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			0.18644
Preferred share investment \| Preference Shares, Series 19 \| Forecast
Dividends Payable [Line Items]
Preferred stock, dividend paid per share (in Canadian dollars per share)	$ 0.38825
Preferred share investment \| Preference Shares, Series 19 \| Subsequent event
Dividends Payable [Line Items]
Preferred stock, dividend declared per share (in Canadian dollars per share)			$ 0.38825

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Millions, $ in Millions					1 Months Ended
	Mar. 06, 2024 CAD ($)	Mar. 06, 2024 USD ($)	Jan. 02, 2024 CAD ($) facility	Jan. 02, 2024 USD ($)	Mar. 31, 2024 CAD ($)	Jan. 02, 2024 USD ($) facility
EOG Acquisition
Business Acquisition [Line Items]
Purchase price	$ 5,800	$ 4,300
Revenues generated by acquiree					$ 105
Earnings generated by acquiree					$ 25
Cash	$ 5,838
RNG Facilities
Business Acquisition [Line Items]
Purchase price			$ 1,348	$ 1,000
Number of facilities acquired \| facility			6			6
Cash			$ 584	$ 439
Remaining consideration payable, payment period (in years)			2 years	2 years
Contingent consideration payable			$ 757			$ 568

ACQUISITIONS - Summary of Estim

ACQUISITIONS - Summary of Estimated Fair Values Assigned to Net Assets (Details) $ in Millions, $ in Millions	Mar. 06, 2024 CAD ($)	Mar. 06, 2024 USD ($)	Jan. 02, 2024 CAD ($) promissoryNote	Jan. 02, 2024 USD ($)	Mar. 31, 2024 CAD ($)	Jan. 02, 2024 USD ($) promissoryNote	Dec. 31, 2023 CAD ($)
Fair value of net assets acquired:
Goodwill					$ 34,294		$ 31,848
EOG Acquisition
Fair value of net assets acquired:
Current assets	$ 641
Property, plant and equipment	7,253
Long-term assets	1,647
Current liabilities	670
Long-term debt	2,612
Other long-term liabilities	993
Deferred income tax liabilities	1,036
Goodwill	1,608
Purchase price:
Cash	5,838
Deferred consideration
Purchase price	5,800	$ 4,300
Expected credit	3
Overfunded pension plan assets	395
Regulatory assets	1,200
Fair value adjustment of long-term debt	478
EOG Acquisition \| Carrying value
Fair value of net assets acquired:
Current assets	$ 376
RNG Facilities
Fair value of net assets acquired:
Current assets			$ 31
Intangible assets			925
Property, plant and equipment			174
Current liabilities			5
Goodwill			223
Purchase price:
Cash			584	$ 439
Deferred consideration
Current portion of long-term debt			550
Long-term debt			207
Other adjustments			7
Purchase price			$ 1,348	$ 1,000
Goodwill expected tax deductible period (in years)			15 years	15 years
Number of non-interest promissory notes \| promissoryNote			6			6
Remaining consideration payable, payment period (in years)			2 years	2 years
Consideration transferred, liabilities incurred			$ 757	$ 568
RNG Facilities \| Non-Interest Bearing Promissory Notes \| Notes Payable, Other Payables
Deferred consideration
Deferred payments			$ 808			$ 606
RNG Facilities \| Minimum
Deferred consideration
Amortized on a straight-line basis over term (in years)			13 years	13 years
RNG Facilities \| Maximum
Deferred consideration
Amortized on a straight-line basis over term (in years)			42 years	42 years

ACQUISITIONS - Schedule of Supp

ACQUISITIONS - Schedule of Supplemental Pro Forma Consolidated Financial Information (Details) - EOG Acquisition - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Business Acquisition [Line Items]
Operating revenues	$ 11,346	$ 12,496
Earnings attributable to common shareholders	$ 1,476	1,770
Interest expense		41
Interest expense, net of tax		$ 33

DEBT - Credit Facilities (Detai

DEBT - Credit Facilities (Details) - Committed credit facilities $ in Millions	3 Months Ended
	Mar. 31, 2024 CAD ($)
CREDIT FACILITIES
Total Facilities	$ 22,130
Draws	10,434
Available	$ 11,696
Term out option period (in years)	1 year
Enbridge (U.S.) Inc.
CREDIT FACILITIES
Total Facilities	$ 8,594
Draws	3,681
Available	4,913
Enbridge Pipelines Inc.
CREDIT FACILITIES
Total Facilities	2,000
Draws	728
Available	1,272
Enbridge Gas Inc.
CREDIT FACILITIES
Total Facilities	2,500
Draws	335
Available	2,165
Enbridge Inc.
CREDIT FACILITIES
Total Facilities	9,036
Draws	5,690
Available	$ 3,346

DEBT - Narrative (Details)

DEBT - Narrative (Details) $ in Millions			1 Months Ended	3 Months Ended
DEBT - Narrative (Details) $ in Millions	Mar. 06, 2024 CAD ($)	Jan. 02, 2024 USD ($)	Apr. 30, 2024 USD ($) offer	Mar. 31, 2024 CAD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 CAD ($)
Line of Credit Facility [Line Items]
Commitment fee percentage				0.10%	0.10%
Long-term debt and lease obligation				$ 81,386,000,000			$ 74,715,000,000
Cumulative fair value adjustment, net				501,000,000			514,000,000
Long-Term Debt
Line of Credit Facility [Line Items]
Principal amount				200,000,000	$ 2,700
Subsequent event
Line of Credit Facility [Line Items]
Number of offering \| offer			4
Debt instrument, face amount			$ 3,500
EOG Acquisition
Line of Credit Facility [Line Items]
Debt increased	$ 1,900,000,000
Long-term debt, maturing 2025						$ 500
Long-term debt, maturing after 2029						1,800
Cumulative fair value adjustment, net				(478,000,000)
RNG Facilities
Line of Credit Facility [Line Items]
Debt increased		$ 568
Long-term debt, maturing 2025						$ 606
Commercial paper and credit facility draws
Line of Credit Facility [Line Items]
Long-term debt and lease obligation				9,600,000,000			3,800,000,000
Three-Year Senior Notes \| Subsequent event
Line of Credit Facility [Line Items]
Debt instrument maturity period (in years)			3 years
Five-Year Senior Notes \| Subsequent event
Line of Credit Facility [Line Items]
Debt instrument maturity period (in years)			5 years
Ten-Year Senior Notes \| Subsequent event
Line of Credit Facility [Line Items]
Debt instrument maturity period (in years)			10 years
Five-year medium term notes \| Subsequent event
Line of Credit Facility [Line Items]
Debt instrument maturity period (in years)			30 years
Fixed-to-floating subordinated term notes \| Subordinated term notes
Line of Credit Facility [Line Items]
Subordinated debt				13,200,000,000			13,000,000,000
Committed credit facilities
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				22,130,000,000
Unutilized amount of facility				11,696,000,000
Committed credit facilities \| Term Loan Maturing In March 2049
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				200,000,000
Uncommitted demand credit facilities
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				1,200,000,000			1,100,000,000
Unutilized amount of facility				$ 766,000,000			$ 572,000,000

DEBT - Long Term Debt Repayment

DEBT - Long Term Debt Repayments (Details) $ in Millions, $ in Millions	1 Months Ended				3 Months Ended
	Mar. 31, 2024 USD ($)	Feb. 29, 2024 USD ($)	Feb. 29, 2024 CAD ($)	Jan. 31, 2024 CAD ($)	Mar. 31, 2024
8.20% Debentures \| Enbridge Pipelines Inc.
Schedule of Long Term and Short Term Debt [Line Items]
Interest rate (in percent)		8.20%	8.20%
Principal Amount			$ 200
4.01% Senior Notes \| Enbridge Southern Lights LP
Schedule of Long Term and Short Term Debt [Line Items]
Interest rate (in percent)				4.01%
Principal Amount				$ 10
4.75% Senior Notes \| Spectra Energy Partners, LP
Schedule of Long Term and Short Term Debt [Line Items]
Interest rate (in percent)	4.75%				4.75%
Principal Amount	$ 1,000
Enbridge Inc. \| Floating rate notes
Schedule of Long Term and Short Term Debt [Line Items]
Principal Amount		$ 600
Enbridge Inc. \| Floating rate notes \| London Interbank Offered Rate
Schedule of Long Term and Short Term Debt [Line Items]
Spread on variable rate (in percent)					0.63%
Enbridge Inc. \| 2.15% Senior Notes
Schedule of Long Term and Short Term Debt [Line Items]
Interest rate (in percent)		2.15%	2.15%
Principal Amount		$ 400
Enbridge Inc. \| 5.97% Senior Notes
Schedule of Long Term and Short Term Debt [Line Items]
Interest rate (in percent)	5.97%				5.97%
Principal Amount	$ 700
Period after issuance after which the instruments are callable (in years)	1 year

DEBT - Fair Value Adjustment (D

DEBT - Fair Value Adjustment (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Debt Disclosure [Abstract]
Amortization of fair value adjustment	$ 12	$ 11

COMPONENTS OF ACCUMULATED OTH_3

COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Changes in AOCI
Balance at the beginning of the period	$ 64,483
Other comprehensive income/(loss) retained in AOCI	1,380	$ (125)
Total before tax impact	1,394	(121)
Income tax on amounts retained in AOCI	(30)	28
Income tax on amounts reclassified to earnings	(3)	(1)
Tax impact	(33)	27
Balance at the end of the period	67,303	65,025
Foreign exchange contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings	19
Interest rate contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings		8
Other contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings		1
Total
Changes in AOCI
Balance at the beginning of the period	2,303	3,520
Balance at the end of the period	3,664	3,426
Cash Flow Hedges
Changes in AOCI
Balance at the beginning of the period	320	121
Other comprehensive income/(loss) retained in AOCI	144	(90)
Total before tax impact	144	(81)
Income tax on amounts retained in AOCI	(34)	28
Income tax on amounts reclassified to earnings	0	(2)
Tax impact	(34)	26
Balance at the end of the period	430	66
Cash Flow Hedges \| Interest rate contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings		8
Cash Flow Hedges \| Other contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings		1
Excluded Components of Fair Value Hedges
Changes in AOCI
Balance at the beginning of the period	(23)	(35)
Other comprehensive income/(loss) retained in AOCI	(15)	7
Total before tax impact	4	7
Income tax on amounts retained in AOCI	4
Income tax on amounts reclassified to earnings	(4)
Tax impact	0	0
Balance at the end of the period	(19)	(28)
Excluded Components of Fair Value Hedges \| Foreign exchange contracts
Changes in AOCI
Other comprehensive (income)/loss reclassified to earnings	19
Net Investment Hedges
Changes in AOCI
Balance at the beginning of the period	(728)	(1,137)
Other comprehensive income/(loss) retained in AOCI	(377)	15
Total before tax impact	(377)	15
Tax impact	0	0
Balance at the end of the period	(1,105)	(1,122)
Cumulative Translation Adjustment
Changes in AOCI
Balance at the beginning of the period	2,653	4,348
Other comprehensive income/(loss) retained in AOCI	1,629	(57)
Total before tax impact	1,629	(57)
Tax impact	0	0
Balance at the end of the period	4,282	4,291
Equity Investees
Changes in AOCI
Balance at the beginning of the period	11	5
Other comprehensive income/(loss) retained in AOCI	(1)
Total before tax impact	(1)	0
Tax impact	0	0
Balance at the end of the period	10	5
Pension and OPEB Adjustment
Changes in AOCI
Balance at the beginning of the period	70	218
Other comprehensive (income)/loss reclassified to earnings	(5)	(5)
Total before tax impact	(5)	(5)
Income tax on amounts reclassified to earnings	1	1
Tax impact	1	1
Balance at the end of the period	$ 66	$ 214

RISK MANAGEMENT AND FINANCIAL_3

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Market Risk (Details)	Mar. 31, 2024
Interest rate contracts - short-term borrowings
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Floating rate debt as target percentage of total debt outstanding maximum	30%
Average swap rate (in percent)	4.10%
Floating-To-Fixed interest rate swaps
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Average swap rate (in percent)	3.50%

RISK MANAGEMENT AND FINANCIAL_4

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Total Derivative Instruments (Details) - CAD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	$ (1,020)	$ (404)
Derivative liabilities, Total Net Derivative Instruments	$ (1,020)	(404)
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets
Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	$ (973)	(278)
Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	15	(122)
Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(62)	(4)
Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	467	623
Derivative assets, Amounts Available for Offset	(233)	(335)
Derivative assets, Total Net Derivative Instruments	234	$ 288
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other current assets
Other current assets \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	384	$ 551
Other current assets \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	51	31
Other current assets \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	32	41
Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	304	463
Derivative assets, Amounts Available for Offset	(145)	(184)
Derivative assets, Total Net Derivative Instruments	$ 159	$ 279
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Deferred Costs and Other Assets	Deferred Costs and Other Assets
Deferred amounts and other assets \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	$ 237	$ 396
Deferred amounts and other assets \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	67	51
Deferred amounts and other assets \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	16
Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(653)	(738)
Derivative liabilities, Amounts Available for Offset	233	335
Derivative liabilities, Total Net Derivative Instruments	$ (420)	$ (403)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Other current liabilities \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	$ (509)	$ (500)
Other current liabilities \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(101)	(194)
Other current liabilities \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(43)	(44)
Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(1,138)	(752)
Derivative liabilities, Amounts Available for Offset	145	184
Derivative liabilities, Total Net Derivative Instruments	$ (993)	$ (568)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Other long-term liabilities \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	$ (1,085)	$ (725)
Other long-term liabilities \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(2)	(10)
Other long-term liabilities \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(51)	(17)
Foreign exchange contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(940)	(152)
Derivative liabilities, Total Net Derivative Instruments	(940)	(152)
Foreign exchange contracts \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(878)	(148)
Foreign exchange contracts \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	0	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Foreign exchange contracts \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(62)	$ (4)
Foreign exchange contracts \| Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	124	139
Derivative assets, Amounts Available for Offset	(26)	(32)
Derivative assets, Total Net Derivative Instruments	98	107
Foreign exchange contracts \| Other current assets \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	92	98
Foreign exchange contracts \| Other current assets \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Foreign exchange contracts \| Other current assets \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	32	41
Foreign exchange contracts \| Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	124	335
Derivative assets, Amounts Available for Offset	(98)	(122)
Derivative assets, Total Net Derivative Instruments	26	213
Foreign exchange contracts \| Deferred amounts and other assets \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	124	319
Foreign exchange contracts \| Deferred amounts and other assets \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Foreign exchange contracts \| Deferred amounts and other assets \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	16
Foreign exchange contracts \| Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(238)	(128)
Derivative liabilities, Amounts Available for Offset	26	32
Derivative liabilities, Total Net Derivative Instruments	(212)	(96)
Foreign exchange contracts \| Other current liabilities \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(195)	(84)
Foreign exchange contracts \| Other current liabilities \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Foreign exchange contracts \| Other current liabilities \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(43)	(44)
Foreign exchange contracts \| Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(950)	(498)
Derivative liabilities, Amounts Available for Offset	98	122
Derivative liabilities, Total Net Derivative Instruments	(852)	(376)
Foreign exchange contracts \| Other long-term liabilities \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(899)	(481)
Foreign exchange contracts \| Other long-term liabilities \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Foreign exchange contracts \| Other long-term liabilities \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(51)	(17)
Interest rate contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	74	(156)
Derivative assets, Total Net Derivative Instruments	74
Derivative liabilities, Total Net Derivative Instruments		$ (156)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Interest rate contracts \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	53	$ (52)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Interest rate contracts \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	21	$ (104)
Interest rate contracts \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	0	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent
Interest rate contracts \| Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	102	$ 65
Derivative assets, Amounts Available for Offset	(50)	(32)
Derivative assets, Total Net Derivative Instruments	52	33
Interest rate contracts \| Other current assets \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	51	34
Interest rate contracts \| Other current assets \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	51	31
Interest rate contracts \| Other current assets \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Interest rate contracts \| Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	93	53
Derivative assets, Amounts Available for Offset	(7)	(21)
Derivative assets, Total Net Derivative Instruments	86	32
Interest rate contracts \| Deferred amounts and other assets \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	26	2
Interest rate contracts \| Deferred amounts and other assets \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	67	51
Interest rate contracts \| Deferred amounts and other assets \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Interest rate contracts \| Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(99)	(186)
Derivative liabilities, Amounts Available for Offset	50	32
Derivative liabilities, Total Net Derivative Instruments	(49)	(154)
Interest rate contracts \| Other current liabilities \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(2)	(3)
Interest rate contracts \| Other current liabilities \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(97)	(183)
Interest rate contracts \| Other current liabilities \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Interest rate contracts \| Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(22)	(88)
Derivative liabilities, Amounts Available for Offset	7	21
Derivative liabilities, Total Net Derivative Instruments	(15)	(67)
Interest rate contracts \| Other long-term liabilities \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(22)	(85)
Interest rate contracts \| Other long-term liabilities \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	(3)
Interest rate contracts \| Other long-term liabilities \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Commodity contracts
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(153)	(96)
Derivative liabilities, Total Net Derivative Instruments	(153)	(96)
Commodity contracts \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(147)	(78)
Commodity contracts \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	(6)	(18)
Commodity contracts \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Total net financial asset/(liability)	0	0
Commodity contracts \| Other current assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	241	418
Derivative assets, Amounts Available for Offset	(157)	(270)
Derivative assets, Total Net Derivative Instruments	84	148
Commodity contracts \| Other current assets \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	241	418
Commodity contracts \| Other current assets \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts \| Other current assets \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts \| Deferred amounts and other assets
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	87	75
Derivative assets, Amounts Available for Offset	(40)	(41)
Derivative assets, Total Net Derivative Instruments	47	34
Commodity contracts \| Deferred amounts and other assets \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	87	75
Commodity contracts \| Deferred amounts and other assets \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts \| Deferred amounts and other assets \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets	0	0
Commodity contracts \| Other current liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(315)	(423)
Derivative liabilities, Amounts Available for Offset	157	270
Derivative liabilities, Total Net Derivative Instruments	(158)	(153)
Commodity contracts \| Other current liabilities \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(311)	(412)
Commodity contracts \| Other current liabilities \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(4)	(11)
Commodity contracts \| Other current liabilities \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Commodity contracts \| Other long-term liabilities
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(166)	(166)
Derivative liabilities, Amounts Available for Offset	40	41
Derivative liabilities, Total Net Derivative Instruments	(126)	(125)
Commodity contracts \| Other long-term liabilities \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(164)	(159)
Commodity contracts \| Other long-term liabilities \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	(2)	(7)
Commodity contracts \| Other long-term liabilities \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative liabilities	0	0
Other contracts
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		1
Derivative liabilities	(1)	(1)
Total net financial asset/(liability)	(1)	0
Derivative assets, Amounts Available for Offset		(1)
Derivative liabilities, Amounts Available for Offset	0	1
Derivative assets, Total Net Derivative Instruments		0
Derivative liabilities, Total Net Derivative Instruments	(1)	0
Other contracts \| Non- Qualifying Derivative Instruments
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		1
Derivative liabilities	(1)	(1)
Total net financial asset/(liability)	(1)	0
Other contracts \| Derivative Instruments Used as Cash Flow Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		0
Derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Other contracts \| Derivative Instruments Used as Fair Value Hedges \| Designated as hedging instrument
TOTAL DERIVATIVE INSTRUMENTS
Derivative assets		0
Derivative liabilities	0	0
Total net financial asset/(liability)	$ 0	$ 0

RISK MANAGEMENT AND FINANCIAL_5

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Notional Principal or Quantity Information (Details) - Mar. 31, 2024 € in Millions, ¥ in Millions, £ in Millions, $ in Millions, $ in Millions	USD ($) MWh MMBbls Bcf	GBP (£) MWh MMBbls Bcf	EUR (€) MWh MMBbls Bcf	JPY (¥) MWh MMBbls Bcf	CAD ($) MWh MMBbls Bcf
Foreign exchange contracts - forwards - purchase
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Derivative Notional Amount Outstanding	$ 1,215			¥ 84,800
Foreign exchange contracts - forwards - purchase \| United States dollar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024	715
2025	500
2026	0
2027	0
2028	0
Thereafter	0
Foreign exchange contracts - forwards - purchase \| Japanese yen
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 \| ¥				0
2025 \| ¥				84,800
2026 \| ¥				0
2027 \| ¥				0
2028 \| ¥				0
Thereafter \| ¥				¥ 0
Foreign exchange contracts - forwards - sell
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
Derivative Notional Amount Outstanding	23,533	£ 115	€ 696
Foreign exchange contracts - forwards - sell \| United States dollar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024	5,368
2025	5,327
2026	4,697
2027	4,091
2028	3,162
Thereafter	$ 888
Foreign exchange contracts - forwards - sell \| GBP
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 \| £		25
2025 \| £		30
2026 \| £		28
2027 \| £		32
2028 \| £		0
Thereafter \| £		£ 0
Foreign exchange contracts - forwards - sell \| Euro
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 \| €			106
2025 \| €			126
2026 \| €			121
2027 \| €			81
2028 \| €			67
Thereafter \| €			€ 195
Interest rate contracts - short-term borrowings
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024					$ 4,726
2025					1,904
2026					1,130
2027					75
2028					25
Thereafter					13
Derivative Notional Amount Outstanding					7,873
Interest rate contracts - short-term debt receive
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024					708
2025					947
2026					179
2027					0
2028					0
Thereafter					0
Derivative Notional Amount Outstanding					1,834
Interest rate contracts - long-term debt pay fixed rate
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024					5,436
2025					588
2026					0
2027					0
2028					0
Thereafter					0
Derivative Notional Amount Outstanding					6,024
Interest Rate Contract, Costless Collar
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024					0
2025					1,382
2026					53
2027					0
2028					0
Thereafter					0
Derivative Notional Amount Outstanding					$ 1,435
Commodity contracts \| Natural gas
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 (bcf / mmbbls) \| Bcf	50,000,000	50,000,000	50,000,000	50,000,000	50,000,000
2025 (bcf / mmbbls) \| Bcf	28,000,000	28,000,000	28,000,000	28,000,000	28,000,000
2026 (bcf / mmbbls) \| Bcf	18,000,000	18,000,000	18,000,000	18,000,000	18,000,000
2027 (bcf / mmbbls) \| Bcf	12,000,000	12,000,000	12,000,000	12,000,000	12,000,000
2028 (bcf / mmbbls) \| Bcf	0	0	0	0	0
Thereafter (bcf / mmbbls) \| Bcf	0	0	0	0	0
Derivative Nonmonetary Notional Amount Outstanding \| Bcf	108,000,000	108,000,000	108,000,000	108,000,000	108,000,000
Commodity contracts \| Crude
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 (bcf / mmbbls) \| MMBbls	13,000,000	13,000,000	13,000,000	13,000,000	13,000,000
2025 (bcf / mmbbls) \| MMBbls	0	0	0	0	0
2026 (bcf / mmbbls) \| MMBbls	0	0	0	0	0
2027 (bcf / mmbbls) \| MMBbls	0	0	0	0	0
2028 (bcf / mmbbls) \| MMBbls	0	0	0	0	0
Thereafter (bcf / mmbbls) \| MMBbls	0	0	0	0	0
Derivative Nonmonetary Notional Amount Outstanding \| MMBbls	13,000,000	13,000,000	13,000,000	13,000,000	13,000,000
Net sell \| Commodity contracts \| Power
RISK MANAGEMENT AND FINANCIAL INSTRUMENTS
2024 (MWH) \| MWh	51,000,000	51,000,000	51,000,000	51,000,000	51,000,000
2025 (MWH) \| MWh	(18,000,000)	(18,000,000)	(18,000,000)	(18,000,000)	(18,000,000)
2026 (MW/H) \| MWh	(35,000,000)	(35,000,000)	(35,000,000)	(35,000,000)	(35,000,000)
2027 (MWH) \| MWh	(51,000,000)	(51,000,000)	(51,000,000)	(51,000,000)	(51,000,000)
2028 (MW/H) \| MWh	(49,000,000)	(49,000,000)	(49,000,000)	(49,000,000)	(49,000,000)
Thereafter (MWH) \| MWh	(30,000,000)	(30,000,000)	(30,000,000)	(30,000,000)	(30,000,000)
Total (MWH) \| MWh	(25,000,000)	(25,000,000)	(25,000,000)	(25,000,000)	(25,000,000)

RISK MANAGEMENT AND FINANCIAL_6

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Fair Value Derivatives (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Foreign Currency Fair Value Hedge Derivative [Line Items]
Realized gain/(loss) on derivative	$ (22)	$ (55)
Fair value hedges \| Interest rate contracts
Foreign Currency Fair Value Hedge Derivative [Line Items]
Unrealized loss on derivative	(63)	(11)
Unrealized gain on hedged item	74	11
Realized gain/(loss) on derivative	59	(11)
Realized loss on hedged item	$ (79)	$ 0

RISK MANAGEMENT AND FINANCIAL_7

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Earnings and Comprehensive Income (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	$ 136	$ (66)
Amount of loss reclassified from AOCI to earnings	19	9
Loss from AOCI expected to be reclassified	$ 8
Maximum term of hedging exposures to variability of cash flows (in years)	2 years
Total unrealized derivative fair value gain/(loss), net	$ (693)	520
Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	(693)	520
Interest rate contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	0	8
Interest rate contracts \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	105	10
Commodity contracts \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	(67)	(39)
Commodity contracts \| Transportation and other services \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	(35)	6
Commodity contracts \| Commodity sales \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	(37)	69
Commodity contracts \| Commodity costs \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	23	(75)
Commodity contracts \| Operating and administrative expense \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	(18)	(39)
Other contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	0	1
Other contracts \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	(1)	(7)
Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of loss reclassified from AOCI to earnings	19	0
Foreign exchange contracts \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	(730)	556
Foreign exchange contracts \| Transportation and other services \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	0	645
Foreign exchange contracts \| Other income/(expense) \| Non- Qualifying Derivative Instruments
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Total unrealized derivative fair value gain/(loss), net	(730)	(89)
Cash flow hedges \| Interest rate contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	138	(105)
Cash flow hedges \| Commodity contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	12	34
Cash flow hedges \| Other contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	1	(2)
Fair value hedges \| Foreign exchange contracts
The Effect of Derivative Instruments on the Statements of Earnings and Comprehensive Income
Amount of unrealized gain/(loss) recognized in OCI	$ (15)	$ 7

RISK MANAGEMENT AND FINANCIAL_8

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Liquidity and Credit Risk (Details) - CAD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
LIQUIDITY RISK AND CREDIT RISK
Rolling time period over which the Company forecasts cash requirements (in months)	12 months
Period of anticipated requirements for which the Company maintains sufficient liquidity through committed credit facilities (in years)	1 year
Derivative instruments
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	$ 717,000,000	$ 1,062,000,000
Cash collateral on asset exposure	0	0
Derivative instruments \| Canadian financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	353,000,000	457,000,000
Derivative instruments \| US financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	91,000,000	252,000,000
Derivative instruments \| European financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	69,000,000	107,000,000
Derivative instruments \| Asian financial institutions
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	85,000,000	121,000,000
Derivative instruments \| Other
LIQUIDITY RISK AND CREDIT RISK
Maximum credit exposure with respect to derivative instruments	$ 119,000,000	$ 125,000,000

RISK MANAGEMENT AND FINANCIAL_9

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - CAD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value of Derivatives
Total net financial asset/(liability)	$ (1,020)	$ (404)
Fair Value
Fair Value of Derivatives
Current derivative assets	467	623
Long-term derivative assets	304	463
Current derivative liabilities	(653)	(738)
Long-term derivative liabilities	(1,138)	(752)
Total net financial asset/(liability)	(1,020)	(404)
Foreign exchange contracts
Fair Value of Derivatives
Total net financial asset/(liability)	(940)	(152)
Foreign exchange contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	124	139
Long-term derivative assets	124	335
Current derivative liabilities	(238)	(128)
Long-term derivative liabilities	(950)	(498)
Total net financial asset/(liability)	(940)	(152)
Interest rate contracts
Fair Value of Derivatives
Total net financial asset/(liability)	74	(156)
Interest rate contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	102	65
Long-term derivative assets	93	53
Current derivative liabilities	(99)	(186)
Long-term derivative liabilities	(22)	(88)
Total net financial asset/(liability)	74	(156)
Commodity contracts
Fair Value of Derivatives
Total net financial asset/(liability)	(153)	(96)
Commodity contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	241	418
Long-term derivative assets	87	75
Current derivative liabilities	(315)	(423)
Long-term derivative liabilities	(166)	(166)
Total net financial asset/(liability)	(153)	(96)
Other contracts
Fair Value of Derivatives
Total net financial asset/(liability)	(1)	0
Other contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets		1
Current derivative liabilities	(1)	(1)
Total net financial asset/(liability)	(1)	0
Level 1 \| Fair Value
Fair Value of Derivatives
Current derivative assets	35	142
Long-term derivative assets	0	0
Current derivative liabilities	(63)	(136)
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	(28)	6
Level 1 \| Foreign exchange contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Level 1 \| Interest rate contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Level 1 \| Commodity contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	35	142
Long-term derivative assets	0	0
Current derivative liabilities	(63)	(136)
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	(28)	6
Level 1 \| Other contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets		0
Current derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Level 2 \| Fair Value
Fair Value of Derivatives
Current derivative assets	308	308
Long-term derivative assets	231	412
Current derivative liabilities	(416)	(391)
Long-term derivative liabilities	(988)	(608)
Total net financial asset/(liability)	(865)	(279)
Level 2 \| Foreign exchange contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	124	139
Long-term derivative assets	124	335
Current derivative liabilities	(238)	(128)
Long-term derivative liabilities	(950)	(498)
Total net financial asset/(liability)	(940)	(152)
Level 2 \| Interest rate contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	102	65
Long-term derivative assets	93	53
Current derivative liabilities	(99)	(186)
Long-term derivative liabilities	(22)	(88)
Total net financial asset/(liability)	74	(156)
Level 2 \| Commodity contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	82	103
Long-term derivative assets	14	24
Current derivative liabilities	(78)	(76)
Long-term derivative liabilities	(16)	(22)
Total net financial asset/(liability)	2	29
Level 2 \| Other contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets		1
Current derivative liabilities	(1)	(1)
Total net financial asset/(liability)	(1)	0
Level 3
Fair Value of Derivatives
Total net financial asset/(liability)	(127)
Level 3 \| Fair Value
Fair Value of Derivatives
Current derivative assets	124	173
Long-term derivative assets	73	51
Current derivative liabilities	(174)	(211)
Long-term derivative liabilities	(150)	(144)
Total net financial asset/(liability)	(127)	(131)
Level 3 \| Foreign exchange contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Level 3 \| Interest rate contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	0	0
Long-term derivative assets	0	0
Current derivative liabilities	0	0
Long-term derivative liabilities	0	0
Total net financial asset/(liability)	0	0
Level 3 \| Commodity contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets	124	173
Long-term derivative assets	73	51
Current derivative liabilities	(174)	(211)
Long-term derivative liabilities	(150)	(144)
Total net financial asset/(liability)	(127)	(131)
Level 3 \| Other contracts \| Fair Value
Fair Value of Derivatives
Current derivative assets		0
Current derivative liabilities	0	0
Total net financial asset/(liability)	$ 0	$ 0

RISK MANAGEMENT AND FINANCIA_10

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Level 3 Inputs (Details) $ in Millions	Mar. 31, 2024 CAD ($) $ / bbl $ / MWh $ / MillionsofBTU-MMBTU	Dec. 31, 2023 CAD ($)
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (1,020)	$ (404)
Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(1,020)	(404)
Level 3
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(127)
Level 3 \| Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	(127)	$ (131)
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Natural gas \| Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (8)
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Natural gas \| Minimum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MillionsofBTU-MMBTU	1.73
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Natural gas \| Maximum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MillionsofBTU-MMBTU	8.97
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Natural gas \| Weighted Average Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MillionsofBTU-MMBTU	3.72
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Crude \| Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (7)
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Crude \| Minimum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / bbl	84.20
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Crude \| Maximum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / bbl	105.12
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Crude \| Weighted Average Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / bbl	100.91
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Power \| Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (72)
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Power \| Minimum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MWh	23.64
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Power \| Maximum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MWh	163.57
Market approach valuation technique \| Level 3 \| Commodity contracts - financial \| Power \| Weighted Average Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MWh	61.76
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Natural gas \| Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ 18
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Natural gas \| Minimum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MillionsofBTU-MMBTU	0.83
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Natural gas \| Maximum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MillionsofBTU-MMBTU	12.95
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Natural gas \| Weighted Average Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MillionsofBTU-MMBTU	3.39
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Crude \| Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ 12
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Crude \| Minimum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / bbl	79.56
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Crude \| Maximum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / bbl	115.53
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Crude \| Weighted Average Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / bbl	99.80
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Power \| Fair Value
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Fair Value	$ (70)
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Power \| Minimum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MWh	19.59
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Power \| Maximum Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MWh	184.82
Market approach valuation technique \| Level 3 \| Commodity contracts - physical \| Power \| Weighted Average Price
Significant unobservable inputs used in the fair value measurement of Level 3 derivative instruments
Forward price ($ / mmbtu, barrel, gallon, MW/H) \| $ / MWh	63.68

RISK MANAGEMENT AND FINANCIA_11

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Changes in Level 3 (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Changes in net fair value of derivative assets and liabilities classified as Level 3
Level 3 net derivative liability at beginning of period	$ (131)	$ (136)
Total gain/(loss), unrealized
Included in earnings	(17)	(44)
Included in OCI	12	33
Settlements	9	(1)
Level 3 net derivative liability at end of period	$ (127)	$ (148)

RISK MANAGEMENT AND FINANCIA_12

RISK MANAGEMENT AND FINANCIAL INSTRUMENTS - Other Financial Instruments (Details) - CAD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Fair Value of Other Financial Instruments
FMVA investments	$ 176		$ 173
Restricted long-term investments	743		717
Long-term debt, carrying value	87,600		81,200
Long-term debt	84,600		78,100
Debt Securities
Fair Value of Other Financial Instruments
Debt securities, available-for-sale, amortized cost	247		279
Equity Funds And Debt Securities
Fair Value of Other Financial Instruments
Unrealized gain on investment	16	$ 15
Level 1
Fair Value of Other Financial Instruments
Restricted long-term investments	293		263
Level 1 \| Debt Securities
Fair Value of Other Financial Instruments
Fair value of investments	312		287
Level 2
Fair Value of Other Financial Instruments
Restricted long-term investments	450		454
Restricted long-term investments, cost basis	507		486
Level 2 \| Debt Securities
Fair Value of Other Financial Instruments
Fair value of investments	251		284
Fair Value
Fair Value of Other Financial Instruments
Restricted long-term investments	743		717
Unrealized holding gains (losses)	(13)	34
Fair value note receivable	53		53
Carrying value
Fair Value of Other Financial Instruments
Non-current notes receivable	53		$ 53
Net investment hedges
Fair Value of Other Financial Instruments
Unrealized foreign exchange gain (loss) on translation of United States dollar denominated debt	(377)	59
Realized loss associated with the settlement of foreign exchange forward contracts	$ 0	$ 44

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
INCOME TAXES (Details)	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (in percent)	19.80%	21.50%

OTHER INCOME_(EXPENSE) (Details

OTHER INCOME/(EXPENSE) (Details) - CAD ($) $ in Millions	3 Months Ended
OTHER INCOME/(EXPENSE) (Details) - CAD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Realized foreign currency gain	$ 122	$ 145
Unrealized foreign currency loss	(858)	(188)
Net defined pension and OPEB credit	41	33
Other	144	112
Total	$ (551)	$ 102

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - CAD ($) $ in Millions	Apr. 01, 2024	Mar. 31, 2024
Gas Transmission \| Subsequent event
Subsequent Event [Line Items]
Goodwill allocated to disposal group	$ 1,000
Alliance Pipeline And Aux Sable \| Subsequent event
Subsequent Event [Line Items]
Gain on sale	1,100
Alliance Pipeline And Aux Sable \| Pembina Pipeline Corporation \| Subsequent event
Subsequent Event [Line Items]
Consideration upon disposal	3,100
Non-recourse debt	$ 327
Alliance Pipeline Canada And Us \| Alliance Pipeline And Aux Sable
Subsequent Event [Line Items]
Ownership interest (in percent)		50%
Aux Sable Midstream LLC and Aux Sable Liquid Products LP \| Alliance Pipeline And Aux Sable
Subsequent Event [Line Items]
Ownership interest (in percent)		42.70%
Aux Sable Canada LP \| Alliance Pipeline And Aux Sable
Subsequent Event [Line Items]
Ownership interest (in percent)		50%