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Property, Plant and Equipment
12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
20.
 
PROPERTY,
 
PLANT AND EQUIPMENT
PP&E consisted of the following regulated and non-regulated assets:
 
As at
December 31
December 31
millions of dollars
 
Estimated useful life
2023
2022
Generation
3
 
to
131
$
 
13,500
$
 
13,083
Transmission
10
 
to
80
 
2,835
 
2,731
Distribution
4
 
to
80
 
7,417
 
6,978
Gas transmission and distribution
6
 
to
92
 
5,536
 
5,061
General plant and other
 
(1)
2
 
to
71
 
2,985
 
2,723
Total cost
 
32,273
 
30,576
Less: Accumulated depreciation
(1)
(9,994)
(9,574)
 
22,279
 
21,002
Construction work in progress
(1)
 
2,097
 
1,994
Net book value
$
 
24,376
$
 
22,996
(1) SeaCoast owns a
50
% undivided ownership interest in a jointly owned
26
-mile pipeline lateral located in Florida, which went into
service in 2020. At December 31, 2023, SeaCoast’s share of plant in service was $
27
 
million USD (2022 – $
27
 
million USD), and
accumulated depreciation of $
2
 
million USD (2022 – $
1
 
million USD). SeaCoast’s undivided ownership interest is financed with its
funds and all operations are accounted for as if such participating interest were a wholly owned facility.
 
SeaCoast’s share of direct
expenses of the jointly owned pipeline is included in "OM&G" in the Consolidated Statements of Income.