v3.26.1
REVENUE (Tables)
3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Major Products and Services

Major Products and Services

Three months ended March 31, 2026

Liquids Pipelines

 

Gas Transmission

 

Gas Distribution
and Storage

 

Renewable Power Generation

 

Eliminations and Other

 

Consolidated

 

(millions of Canadian dollars)

 

 

 

 

 

 

 

 

 

 

 

 

Transportation revenue

 

2,795

 

 

1,471

 

 

63

 

 

 

 

 

 

4,329

 

Storage and other revenue

 

62

 

 

187

 

 

155

 

 

 

 

 

 

404

 

Gas distribution sales

 

 

 

 

 

4,113

 

 

 

 

 

 

4,113

 

Electricity revenue

 

 

 

 

 

 

 

77

 

 

 

 

77

 

Commodity sales

 

 

 

38

 

 

7

 

 

 

 

 

 

45

 

Total revenue from contracts with customers

 

2,857

 

 

1,696

 

 

4,338

 

 

77

 

 

 

 

8,968

 

Commodity sales

 

12,539

 

 

49

 

 

 

 

 

 

559

 

 

13,147

 

Other revenue1,2

 

66

 

 

30

 

 

52

 

 

94

 

 

 

 

242

 

Intersegment revenue

 

 

 

6

 

 

18

 

 

3

 

 

(27

)

 

 

Total revenue

 

15,462

 

 

1,781

 

 

4,408

 

 

174

 

 

532

 

 

22,357

 

 

Three months ended March 31, 2025

Liquids Pipelines

 

Gas Transmission

 

Gas Distribution
and Storage

 

Renewable Power Generation

 

Eliminations and Other

 

Consolidated

 

(millions of Canadian dollars)

 

 

 

 

 

 

 

 

 

 

 

 

Transportation revenue

 

3,105

 

 

1,480

 

 

74

 

 

 

 

 

 

4,659

 

Storage and other revenue

 

68

 

 

173

 

 

157

 

 

 

 

 

 

398

 

Gas distribution sales

 

 

 

 

 

3,654

 

 

 

 

 

 

3,654

 

Electricity revenue

 

 

 

 

 

 

 

42

 

 

 

 

42

 

Commodity sales

 

 

 

24

 

 

 

 

 

 

 

 

24

 

Total revenue from contracts with customers

 

3,173

 

 

1,677

 

 

3,885

 

 

42

 

 

 

 

8,777

 

Commodity sales

 

8,934

 

 

37

 

 

 

 

 

 

554

 

 

9,525

 

Other revenue1,2

 

77

 

 

(7

)

 

53

 

 

77

 

 

 

 

200

 

Intersegment revenue

 

 

 

8

 

 

18

 

 

1

 

 

(27

)

 

 

Total revenue

 

12,184

 

 

1,715

 

 

3,956

 

 

120

 

 

527

 

 

18,502

 

 

1
Includes realized and unrealized gains and losses from our hedging program which for the three months ended March 31, 2026 were net nil (2025 - $99 million gain).
2
Includes revenues from lease contracts for the three months ended March 31, 2026 and 2025 of $166 million and $158 million, respectively.

Recognition and Measurement of Revenues

Three months ended March 31, 2026

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

 

 

 

38

 

 

36

 

 

22

 

 

96

 

Revenues from products and services transferred over time1

 

2,857

 

 

1,658

 

 

4,302

 

 

55

 

 

8,872

 

Total revenue from contracts with customers

 

2,857

 

 

1,696

 

 

4,338

 

 

77

 

 

8,968

 

 

Three months ended March 31, 2025

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

 

 

 

24

 

 

36

 

 

 

 

60

 

Revenues from products and services transferred over time1

 

3,173

 

 

1,653

 

 

3,849

 

 

42

 

 

8,717

 

Total revenue from contracts with customers

 

3,173

 

 

1,677

 

 

3,885

 

 

42

 

 

8,777

 

 

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, 2026

 

3,915

 

 

213

 

 

2,561

 

Balance as at December 31, 2025

 

3,799

 

 

315

 

 

2,765