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How We Directly Benefit Stakeholders

Enbridge adds value to the economy through our operating expenses and distributions.

DISTRIBUTION OF ECONOMIC VALUE ADDED – 2006
Payments and benefits to employees $517 million
Income taxes paid to governments $183 million
Interest payments to lenders $567 million
Dividend payments to shareholders $403 million
Retained in business $225 million

INVESTOR FOCUSED

Our returns to shareholders are delivered through a combination of capital appreciation growth and dividends. In 2006, $403 million was paid to common shareholders as dividends, compared with $361 million in the previous year.

EMPLOYEE FOCUSED

Our business operations provide jobs and contracting opportunities in many communities in Canada, the United States and internationally. Headquartered in Calgary, we have major offices in Edmonton, Toronto and Houston, and numerous field offices located in our areas of operations, as well as in Spain and Colombia. We have more than 5,000 employees with an annual payroll of about $370 million. In 2006, we paid about $61 million through our annual incentive program to reward employee performance.

CUSTOMER FOCUSED

Every day through our energy transportation and distribution systems in Canada and the United States, we provide millions of customers with hydrocarbon products that are essential to quality of life. These provide fuel for transportation, heat for our homes, and the resources to manufacture plastics and a wide range of consumer products.

We also work with customers to increase the efficient use of valuable energy resources. Enbridge Gas Distribution’s demand-side management (DSM) programs help customers conserve gas, saving them money and enabling them to contribute to environmental goals. Over the past decade, we have helped customers reduce their natural gas consumption by 2.9 billion cubic metres through participation in our DSM programs. This translates into the avoidance of 5.5 million tonnes of CO2 emissions being released into the atmosphere. Measures like these move the Company closer to the realization of its emission reduction targets, despite the pressures of significant growth in Enbridge’s customer base.

NATIONALLY FOCUSED

Our business activity brings other benefits to society. Some of the greatest beneficiaries are local, state, provincial and federal governments in Canada and the United States, which receive taxes from our activities. These revenues are used to help fund local public services and infrastructure. In 2006, we paid $183 million in income taxes. This excludes other taxes, such as property taxes of $82 million that we paid in Canada and the United States.

COMMUNITY FOCUSED

At the local level, our operations affect economies through the creation of jobs, the purchase of goods and services, and taxes paid to governments. We also invest in community programs and charitable organizations. In 2006, we invested $5.2 million in charitable and non-profit organizations in Canada and the United States.

Investor indexes

A number of investor indexes provide business rankings based on information about a company’s social, ethical and environmental policies and practices. They are based on the concept that a company’s commitment to corporate social responsibility will sustain and grow long-term shareholder value. Enbridge is included in a number of investor indexes designed to recognize responsible business practices.

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