Spectra Energy Receives Regulatory Approval for Three-year Transmission Toll Settlement in Western Canada

CALGARY, Jan. 19 /PRNewswire/ - Spectra Energy Corp (NYSE: SE) today announced that it has received approval from the National Energy Board (NEB) for a new three-year negotiated toll settlement that defines the economic factors and provisions for establishing tolls, and maintains service standards for its British Columbia (B.C.) Pipeline.

"We are pleased with the timely approval of this new toll settlement by the NEB, which we believe is a win-win for our customers and our company," said Rob Whitwham, vice president, pipeline, Spectra Energy Transmission West.  "Through the active participation and cooperation of our customers, we have achieved a settlement which provides a stable and predictable process for establishing pipeline tolls for the next three years, and the framework for Spectra Energy to continue to expand our infrastructure network to meet the growing needs of our customers and become their supplier of choice."

"The successful completion of this settlement demonstrates our continued commitment to collaborative relationships and achieving outcomes which benefit all parties. It also enhances the viability and competitiveness of British Columbia's natural gas resources" continued Whitwham.

The settlement governs Spectra Energy's mainline transmission tolls for services offered through its Zone 3 (Transmission North) and Zone 4 (Transmission South) BC Pipeline facilities located in British Columbia and Alberta for the period commencing January 1, 2011 through December 31, 2013.  The allowed rate of return on common equity is fixed for toll making purposes at 9.7 percent on a 40 percent common equity ratio for the term of the settlement. 

Spectra Energy's BC Pipeline facilities comprise the main natural gas transmission pipeline system in British Columbia which has the capacity to transport over 2.3 billion cubic feet per day of natural gas.

Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North America's premier natural gas infrastructure companies serving three key links in the natural gas value chain: gathering and processing, transmission and storage, and distribution. For nearly a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related infrastructure connecting natural gas supply sources to premium markets. Based in Houston, Texas, the company operates in the United States and Canada approximately 19,100 miles of transmission pipeline, approximately 305 billion cubic feet of storage, as well as natural gas gathering and processing, natural gas liquids operations and local distribution assets. The company also has a 50 percent ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the United States. Spectra Energy is a member of both the Dow Jones Sustainability Index North America and the U.S. S&P 500 Carbon Disclosure Leadership Index. For more information, visit www.spectraenergy.com.

SOURCE Spectra Energy Corp.