CALGARY, Jan. 19 /CNW/ - 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.
For further information:
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|Analysts: ||John Arensdorf|