$3 Billion Asset Sales
Q: Will you divest more assets in 2024?
A: Yes, we're committed to executing an incremental $3 billion of divestitures in 2024. This may include asset sales in the U.S., Canada, and Mexico, aiming to reduce our exposure, particularly in Mexico, to a more manageable level.

Higher Project IRRs
Q: Are your project return targets increasing?
A: Yes, we've seen an upward trend in project IRRs. Projects sanctioned in 2019 were in the 7–8% range, rising to 9–10% in 2022. We're becoming more selective, focusing on higher risk-adjusted returns while maintaining our $6–7 billion annual CapEx limit.

$750 Million Synergies
Q: How are the $750 million synergies progressing?
A: We're on track to realize $750 million in run-rate synergies by the end of 2025. This year, we're generating $130 million in savings, equivalent to $185 million annually. Savings come from capital reductions, O&M reductions, and revenue enhancements.

NGTL Toll Settlement
Q: Could NGTL ROEs increase after 2024?
A: Discussions with customers have started, aiming for a new settlement by mid-2024. While ROE is a consideration, we're focusing on optimizing return on and of capital while maintaining competitive tolls.

Columbia Gas Rate Case
Q: Will Columbia Gas boost revenue in 2025?
A: We plan to file the next rate case within existing bounds, with new rates effective April 1, 2026. We'll strive to recover capital, earn a fair return, and maintain competitive rates.

Coastal GasLink Completion
Q: What's next after completing Coastal GasLink early?
A: We're preparing for LNG Canada's gas needs by year-end. For Phase 2, we're progressing early development at LNG Canada's request, but it's still early with much work ahead.

Bruce Power Unit 6
Q: Any impact from Bruce Power Unit 6's early completion?
A: Yes, completing Unit 6 ahead of schedule and on budget boosts confidence in executing remaining refurbishments. This supports our long-term growth in profit before tax from Bruce Power.

CapEx Outlook
Q: What's the 2024 CapEx outlook?
A: We'll provide more details at our Investor Day on November 28. Post-2024, we remain committed to maintaining $6–7 billion per year in CapEx.

Prince Rupert Gas Project
Q: Will you undertake large projects like Prince Rupert Gas?
A: While preserving permits for the project, we're resolute in adhering to our $6–7 billion annual CapEx and limiting large projects.

South Bow SpinCo Rating
Q: Will the spin-off maintain investment-grade ratings?
A: Yes, South Bow will have an investment-grade rating, targeting around 5× leverage. We're working closely to ensure a strong balance sheet and credit profile post-spin.