July 30, 2015
Enbridge Energy Partners, L.P. (NYSE: EEP) ("Enbridge Partners" or "the Partnership") announced today that the board of directors of the delegate of its general partner has declared a cash distribution of $0.583 per unit, or $2.332 per unit on an annualized basis, representing a 2.3 percent increase over the previous quarter's distribution and a 5 percent increase compared to the second quarter of 2014.
"We are pleased with the Partnership's financial performance through the first half of 2015, supported by continued strong deliveries on our liquids pipeline systems and complemented by the cash flow contributions from the completion of portions of our multi-billion dollar organic growth program."
"Turning to project execution, we recently completed two key components of our Mainline Expansions. Our Line 61 Southern Access expansion to 800,000 barrels per day (bpd) between Superior, WI to Flanagan, IL entered service in May, and in July we completed the second phase of expansion of our Line 67 Alberta Clipper pipeline, increasing the line's capacity to 800,000 bpd. Looking forward, we are on track to complete our Line 78 Chicago Connectivity project which will add an incremental 570,000 bpd of capacity between Flanagan, IL and Griffith, IN later this year. These expansion projects are underpinned by long-term, low-risk cost of service structures that will deliver highly certain earnings and cash flow growth. In June, we reached an important milestone on the Sandpiper Pipeline Project with approval of the Certificate of Need by the Minnesota PUC. The Partnership continues to work cooperatively with the regulatory and permitting authorities, state agencies, elected officials and the public as we proceed with the route permitting process."
"Next, we recently announced actions that we expect will continue to strengthen MEP and enhance its ability to deliver distribution growth through 2017. MEP is strategic to EEP and these actions are geared to provide value to EEP unitholders through improved performance in the natural gas business and lowering external financing needs of EEP by re-establishing MEP as a drop-down MLP."