We've obviously been working with our federal regulator to demonstrate that the pipeline is fit for service and the regulators are working through that right now. And Jeremy, you probably heard me talk about this once or twice in the past. So I'm wondering how that's impacting your capital allocation strategy. July 2020. And then secondly, just a follow-up on the capital allocation question. Our next question comes from the line of Shneur Gershuni from UBS. Enbridge (ENB) Q2 Earnings In Line, Revenues Miss Estimates - August 6, 2020 - Zacks.com Our next question comes from the line of Robert Kwan from RBC Capital Markets. So that's how we're looking at this at a high level, but if I haven't got into the crux of what you're getting at, let me know. This really shows well the resiliency of the refining centers we deliver into, and therefore, the mainline. Now let me shift to the second-quarter highlights. As always, we appreciate your continued interest in Enbridge. The firm had revenue of $9.11 billion for the quarter. So those two factors are at play in either direction. So for example, today, if you're entering a new build, you'd have to say whether or not you think scheduling costs will come in as you predict it. Your question, please. Are you at the point in the next 12 months to put some dollars into some pilot investments? Tailwinds include lower interest rates, stronger U.S. dollar, gas transmission rate settlements and further cost reductions, which are now enabled. Last month, Enbridge confirmed 800 employees had voluntarily left the company as part of program announced in May to reduce 2020 costs by $300 million through measures including salary cuts and voluntary staff reductions. Can you help me understand what the possibilities are in terms of magnitude, could you double that to 3% to 4%? So we've got a really good opportunity just with our gas side to be especially where we operate in the Northeast to be a very good partner for a long time. We'll also be referring to the non-GAAP measures summarized below. On to Slide 16. Of course, that reflects some Line 3 spending shift into the first half of 2021 offset by a stronger U.S. dollar and some announced project wins. And I think we're well advanced on a couple of ideas. What are the thoughts around extending the maturity profile as you're in the market right now to sort of take advantage of it and capitalize on the current rate environment? So good job by Vern and the team on that. CALGARY, AB , July 8, 2020 /CNW/ - Enbridge Inc. () (Enbridge or the Company) will host a conference call and webcast to provide an enterprise-wide business update and review 2020 … It looks like that 70% support number hasn't changed yet. Enbridge will host a conference call and webcast to provide an enterprise-wide business update and review 2020 first-quarter results. And it basically said that our construction plans met what they needed. It's always something we contemplate and look at whenever you have a potential administration change. OK. Jul. Just given your allocation of capital, as well as how Enbridge's shares have performed versus the U.S. peers, have you reevaluated your view on M&A, whether that's on the corporate side or using this as an opportunity to acquire single assets that could be contiguous with your system? And just the last question related to cost of capital, it doesn't seem to really be limiting your access to capital at all here. I'll start off, and then maybe Bill -- I'd like Bill to comment, too, on this because the reality is that the renewable side of things in terms of power generation really does link up with natural gas, so maybe he can address that part. So I don't think there's any real magic there from an EBITDA perspective. OK. Well, I'll go first, Robert. On your point about additional support, I think at this phase of where we're at, having filed the application, I wouldn't see necessarily somebody coming out and saying, oh, well, we changed our mind. We'll then review the usual business update, including perhaps a bit of a deeper dive on crude oil fundamentals that we started last quarter. Adjusted EBITDA, $3.3 billion in the quarter, and DCF of $2.4 billion, that's $1.21 per share DCF, $0.07 better than last year. Thank you. A well-diversified stream of cash flow is helping us mitigate the impact of lower mainline volumes, throughput is coming back, but we're watching the recovery carefully, and we're certainly not going to get ahead of ourselves. We've completed the geotech work and design as well and filed our application. So just to confirm that. So what does that mean for Enbridge? Good morning, everyone, and John, all the best in retirement. We responded well operationally, keeping our people safe as well, and our resiliency paid off, so we had a good start to the year, as Colin just went through. North America's ability to provide low-cost energy should drive an increased share of global energy markets, and that means more infrastructure and modernizing energy systems here. And I think that's well recognized in our outings in the capital market. We expect Texas Eastern's new rates to contribute an incremental CAD 125 million of full-year EBITDA on a run-rate basis. Our assets are underpinned by strong commercial constructs, and 95% of our customers are investment-grade. Our next question comes from the line of Rob Hope from Scotiabank. So here's what happened on that front. Despite the more than 2% pop as of writing, Enbridge stock still offers a juicy yield of close to 7.5%. I'm not saying they're bad. Enbridge Inc (TSE:ENB) (NYSE:ENB) – Raymond James issued their Q2 2020 earnings per share estimates for Enbridge in a research note issued on … In terms of larger scale M&A, it's not on the priority list right now. I think hydrogen is very interesting. Thank you. Two main positive drivers here. OK. We expect to have the east leg up and running, hopefully, within the next few weeks. And I think until that, we are still in pretty heavy capital investment mode here. And we have another partnership here with the Canadian Pension Plan, which is helping us do that, and it gives us scope to grow this business with less capital intensity again. On a full-year basis, DAPL represents about $250 million to $300 million a year of EBITDA, which is about 2% of consolidated EBITDA. Your question, please. Our next question comes from the line of Jeremy Tonet from JP Morgan. Thank you. 23 counties formerly endorsed it and a strong majority of Michiganders wanted to get going. Just wanted to start off with a quick question. I guess linked to that, which was the other part of your question, had to do with buybacks. But you've seen some ESG trends impacting capital markets with some suppliers deciding not to lend to the fossil fuel-related industries, including oil sands. If we can add another percentage to it, I think we'd be pretty happy. Your question, please. Dividends are common dividends paid per share, reported as of the ex-dividend date. Therefore, the high yield of the dividend-paying stock should remain intact. Let's move finally to Slide 23 and our financial outlook for the rest of the year. As you can see on the slide, second-quarter adjusted EBITDA and DCF were both up year over year on strong underlying performance. I would now like to turn the call over to Jonathan Morgan, vice president, investor relations. Update now on the next part of 2021 turn it over to Jonathan Morgan, Vice,. Certainly, we 're not really doing much to add any value all! 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