Ms. Suzanne Wilton reports

ENBRIDGE INC. DOES NOT EXPECT A MATERIAL CONSOLIDATED FINANCIAL IMPACT AS A RESULT OF FERC REVISED POLICY STATEMENTS

Enbridge Inc. does not expect a material impact to its previously disclosed financial guidance over the 2018-2020 horizon as a result of the Federal Energy Regulatory Commission (FERC) revised policy statement on interstate pipeline tax allowance recovery in master limited partnerships (MLPs) nor from FERC's notice of proposed rule making (NOPR).

Spectra Energy Partners LP (SEP) does not expect any material impact to its financial guidance from the FERC policy actions. Roughly 60 per cent of SEP's gas pipeline revenue comes from negotiated or market-based tariffs and therefore not directly affected by the FERC policy revisions. The remaining 40 per cent of gas pipeline revenue is from cost of service-based tariffs which could be subject to tax recovery disallowance. The liquids assets within SEP are predominantly negotiated tariffs and also not materially affected by the policy revisions. SEP anticipates no immediate impact to its current gas pipeline cost of service rates as a result of the revised policy, and therefore, no impact is expected to its previously provided 2018 financial guidance. Any future impacts would only take effect upon the execution and settlement of a rate case. In the event of a rate case, all cost-of-service framework components would be taken into consideration, which is expected to offset a significant portion of any impacts related to the new FERC policy. Any unmitigated impacts are not anticipated to materially change SEP's distributable cash flow outlook beyond 2018.

Enbridge Energy Partners LP (EEP) derives a portion of its revenue from a facility surcharge mechanism that applies cost-of-service tariffs which would be impacted by this policy change. As a result of lower tax rates under U.S. tax reform, EEP previously guided to a decrease in distributable cash flow (DCF) of $55-million for 2018. This new FERC policy would cause a further decrease to DCF of roughly $80-million on an annual basis, or roughly $60-million on a prorated basis in 2018.

Under the international joint toll mechanism, reductions in the EEP tariff will create an offsetting revenue increase on the Canadian mainline system owned by Enbridge Income Fund Holdings Inc. Financial guidance at ENF remains unchanged; however, this could provide a further tailwind for financial results. The combined impact at both EEP and ENF is offsetting for Enbridge on a consolidated basis.

About Enbridge Inc.

Enbridge is North America's premier energy infrastructure company with strategic business platforms that include an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities, and renewable power generation. The company safely delivers an average of 2.8 million barrels of crude oil each day through its Mainline and Express pipeline accounts for approximately 65 per cent of American-bound Canadian crude oil exports and moves approximately 20 per cent of all natural gas consumed in the United States, serving key supply basins and demand markets. The company's regulated utilities serve approximately 3.7 million retail customers in Ontario, Quebec and New Brunswick. Enbridge also has interests in more than 2,500 megawatts of net renewable generating capacity in North America and Europe.

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