Enbridge Energy Partners (EEP-N) announced on February 16, 2016 that completion of the Line 3 Replacement project, a joint venture between it and Enbridge Income Fund (EIF), will be delayed from 2H17 to early in 2019 due to increased regulatory hurdles in Minnesota.
The announcement is negative for the Fund and its holding company, ENF, as this project represents ~36% of the Fund’s secured growth capital and has been delayed by roughly 18 months. We estimate that this delay will cut EIF’s 2018e ....
18 Feb 2016
Delay to Line 3 Replacement Cuts 2018e EBITDA by 15%
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Delay to Line 3 Replacement Cuts 2018e EBITDA by 15%
Enbridgeome Fund (ENF:TSE) | 0 0 0.7% | Mkt Cap: 4,697m
- Published:
18 Feb 2016 -
Author:
Steven I. Paget -
Pages:
6
Enbridge Energy Partners (EEP-N) announced on February 16, 2016 that completion of the Line 3 Replacement project, a joint venture between it and Enbridge Income Fund (EIF), will be delayed from 2H17 to early in 2019 due to increased regulatory hurdles in Minnesota.
The announcement is negative for the Fund and its holding company, ENF, as this project represents ~36% of the Fund’s secured growth capital and has been delayed by roughly 18 months. We estimate that this delay will cut EIF’s 2018e ....