Michigan Oil Spill Bill Estimate up to $400M

August 20, 2010

Enbridge Energy Partners estimates cleanup and other costs from a massive oil spill from a Michigan pipeline could be $300 million to $400 million.

The company made the estimate in a filing this week with the U.S. Securities and Exchange Commission.

The charges include the emergency response, cleanup costs, repairs, claims by third parties, lost revenue and other items. It excludes possible fines and penalties.

Insurance is expected to cover most of the cost. The company’s net charges could be $35 million to $45 million, excluding fines.

An estimated 820,000 to more than 1 million gallons of oil spilled near the Kalamazoo River in Marshall on July 26.

The pipeline runs from Griffith, Ind., to Sarnia, Ontario.

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