Content area
Abstract
CALGARY, ALBERTA and HOUSTON, TEXAS --(CCNMatthews - March 23, 2006) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) and Enbridge Energy Partners, L.P. (NYSE:EEP) (the "Partnership") are pleased to advise that the U.S. Federal Energy Regulatory Commission (FERC) has approved an Offer of Settlement (Settlement) with respect to tolls for the Southern Access expansion. The Settlement was filed with FERC in December 2005 with the support of the Canadian Association of Petroleum Producers and shippers. The FERC order approves the Settlement as "...fair and reasonable and in the public interest."
Enbridge Energy Partners, L.P. owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the U.S. Its principal crude oil system is the largest transporter of growing oil production from western Canada. The system's deliveries to refining centers in the U.S. Midwest account for approximately 10 percent of total U.S. oil imports; while deliveries to Ontario, Canada satisfy approximately 60 percent of refinery demand in that region. The Partnership's natural gas gathering, treating, processing and transmission assets, which are principally located onshore in the active U.S. Mid-Continent and Gulf Coast area, deliver more than 2 billion cubic feet of natural gas daily. Enbridge Energy Management, L.L.C. (NYSE:EEQ) (www.enbridgemanagement.com) manages the business and affairs of the Partnership and its principal asset is an approximate 18 percent interest in the Partnership. Enbridge Energy Company, Inc., an indirect wholly owned subsidiary of Enbridge Inc. is the general partner and holds an approximate 11 percent interest in the Partnership.