CALGARY, April 2, 2014 /CNW/ - Spectra Energy Corp (NYSE: SE) today
announced that it has received approval from the National Energy Board
(NEB) for a new two-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 very pleased to reach a win-win settlement with our customers
that will provide a stable and predictable process for establishing
pipeline tolls for the next two years," said Mark Fiedorek, President
of Spectra Energy Transmission West. "Our successful track record of
working together with our producers and downstream customers to
negotiate tolls demonstrates our joint commitment to ensuring B.C.'s
natural gas resources continue to reach both new and existing energy
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, 2014 through December
31, 2015. The rate of return on common equity is fixed for toll making
purposes at 10.1 percent on a 40 percent common equity ratio for the
term of the settlement, and is consistent with Spectra Energy's
financial plan presented in February 2014.
Spectra Energy's BC Pipeline facilities comprise the main natural gas
transmission pipeline system in British Columbia which has the capacity
to transport over 2.9 billion cubic feet per day of natural gas.
Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North
America's leading pipeline and midstream companies. Based in Houston,
Texas, the company's operations in the United States and Canada include
more than 22,000 miles of natural gas, natural gas liquids, and crude
oil pipelines; approximately 305 billion cubic feet (Bcf) of natural
gas storage; 4.8 million barrels of crude oil storage; as well as
natural gas gathering, processing, and local distribution operations.
Spectra Energy is the general partner of Spectra Energy Partners (NYSE:
SEP), one of the largest pipeline master limited partnerships in the
United States and owner of the natural gas, liquids, and crude oil
assets in Spectra Energy's U.S. portfolio. Spectra Energy also has a 50
percent ownership in DCP Midstream, the largest producer of natural gas
liquids and the largest natural gas processor in the United States.
Spectra Energy has served North American customers and communities for
more than a century. The company's longstanding values are recognized
through its inclusion in the Dow Jones Sustainability World and North
America Indexes and the CDP Global 500 and S&P 500 Climate Disclosure
and Performance Leadership Indexes.
For more information, visit www.spectraenergy.com and www.spectraenergypartners.com.
Image with caption: "Spectra Energy Corp logo (CNW Group/Spectra Energy Corp.)". Image available at: http://photos.newswire.ca/images/download/20140402_C8431_PHOTO_EN_38775.jpg
SOURCE: Spectra Energy Corp.
For further information:
Spectra Energy Transmission West
Tel: (403) 699-1893
Cell: (403) 826-2438
24-Hour Media Line: (713) 627-4747
Tel: (713) 627-4778