Direct Impacts

Our continued financial success helps our company to grow our business and contribute positively to society, by supporting the needs of our investors, our employees, our customers, governments, communities and our other stakeholders.

Benefits to investors

In 2003, Enbridge Inc. paid investors CDN$283.9 million in common share dividends, up 13% from 2002.

Benefits to employees

Our business operations provide jobs and contracting opportunities in many communities in Canada and the United States, including our major headquarters in Calgary, Edmonton, Toronto and Houston.

We have more than 3,700 employees with an annual payroll of about CDN$265 million. Last year, we paid about CDN$25 million through our annual incentive program to reward employee performance.

Benefits to customers

Every day through our energy transportation and distribution systems in Canada and the United States, we provide millions of customers with hydro- carbon 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. Gas Distribution's demand-side management programs help customers conserve gas, saving them money and enabling them to contribute to environmental goals. From 1995 to 2003, these programs saved our customers in Ontario more than CDN$700 million on their energy bills.

Benefits to governments

Our business activity brings other benefits to society. Some of the greatest beneficiaries are local, state, provincial and federal governments, which receive taxes from our activities.

In 2003, we paid property taxes totalling about CDN$124.5 million to governments in Canada and the United States. These revenues were used to help to fund local public services and infrastructure.

Benefits to communities

At the local level, our operations affect economies through the creation of jobs, the purchase of goods and services, taxes paid to governments and the dollars we invest in community programs and charitable organizations.

We purchase services with local suppliers and contractors involved in the construction, operation and maintenance of our energy delivery systems. These investments have the economic spin-off effect of creating additional employment.

In 2003, we donated CDN$3.5 million to charitable organizations in Canada and the United States.

Enbridge receives GLOBE Award

Our achievements in 2003 are measured by something else that Enbridge has earned - not dollars, but a growing reputation among our peers for economic and environmental performance.

For instance, our economic and environmental performance received special recognition when Enbridge was presented with the GLOBE Foundation Award for Environmental Excellence in the Corporate Competitiveness category by The Globe and Mail newspaper and the GLOBE Foundation, a non- profit Canadian organization. The award is bestowed each year to a Canadian corporation that materially contributes to economic competitiveness through a commitment to environmental excellence.

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