Enbridge’s New Pipeline Bookings Plan Draws Fire: Energy Business Review
Enbridge (NYSE:ENB) has a new plan through which it says could reduce the over-booking of capacity on the massive export network that has helped to cause the sharp discounting of Canadian crude prices, but its pipeline customers are not seeing it that way. The proposal would change the manner that it uses to calculate the amount of crude shippers can nominate on the pipelines monthly, to a new system based on the capacities of refineries, which Enbridge would verify. Big players such as Exxon Mobil Corporation (NYSE:XOM), Marathon Petroleum Corporation (NYSE:MPC), Imperial Oil (AMEX:IMO), and Phillips 66 (NYSE:PSX), among others, have all filed protests with regulators, contending that the new rules would give the pipeline firm itself too much discretion in allocating capacity while not allowing the shippers any recourse.
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