Spectra Energy Announces Management Appointments

HOUSTON, Feb. 18 /PRNewswire-FirstCall/ -- Spectra Energy Corp (NYSE: SE) today announced Steve Baker, currently vice president at Union Gas, will assume the role of vice president and treasurer, Spectra Energy Corp.  Allen Capps, current vice president and treasurer, will assume Baker's current role of vice president, business development storage and transmission, Union Gas in Chatham, Ontario.  Union Gas is a Spectra Energy company.

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"Both Steve and Allen are key contributors to Spectra Energy and this leadership rotation is consistent with our overall focus on developing leaders and ensuring we offer opportunities for them to gain broad experience from different parts of our business," said Pat Reddy, chief financial officer.

As vice president and treasurer for Spectra Energy, Baker will be responsible for the company's financing and capital market activities, interest rate management, liquidity and cash management, risk management and the company's relationships with major banks and credit rating agencies.

"Steve has a strong finance and accounting background, which makes him an excellent fit for the treasurer role. He has a solid track record of more than 20 years experience with our company and we are very much looking forward to his continued leadership and contributions as vice president and treasurer," continued Reddy.

"Allen brings to Union Gas a strong background in the energy business and we are excited about him joining our team," said Julie Dill, president, Union Gas. "Our storage and transmission business is the major contributor to our overall business growth and we are looking forward to Allen's leadership as we continue to grow this part of the business."

In addition to business development responsibilities for Union Gas' storage and transmission business, Capps also will be responsible for gas supply acquisition and planning, product and service development, and customer support for Union Gas.

These leadership rotations are effective April 1, 2010.

Steve Baker

Baker joined Union Gas in 1989.  Before assuming his current role, Baker held a number of senior management positions at Union Gas in regulatory, finance and marketing. Prior to joining Union Gas, Baker was an accountant with Clarkson Gordon (Ernst & Young).  He is a chartered accountant and a certified management accountant and obtained his Bachelor of Arts in honors chartered accountancy studies from the University of Waterloo in 1986, and his Master of Accounting from the University of Waterloo in 1987.  He is a member of the Institute of Chartered Accountants of Ontario, the Canadian Institute of Chartered Accountants and The Society of Management Accountants of Ontario.

Allen Capps

Prior to joining Spectra Energy in his current role in 2007, Capps served as corporate finance director with EPCO, Inc.  Prior to his role with EPCO, Capps held various senior-level positions at TEPPCO Partners, LP, including director of technical accounting and compliance and interim corporate controller. He also was an auditor with both Ernst & Young, LLP and Arthur Andersen & Co., LLP.  Capps graduated from Texas A&M University with a Bachelor of Business Administration degree in accounting and a Master of Science degree in finance.  He also earned a Masters of Business Administration from the University of Texas at Austin. He is a certified public accountant, a certified internal auditor and a member of the American Institute of Certified Public Accountants (AICPA).

Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North America's premier natural gas infrastructure companies serving three key links in the natural gas value chain: gathering and processing, transmission and storage, and distribution. For nearly a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related infrastructure connecting natural gas supply sources to premium markets. Based in Houston, Texas, the company operates in the United States and Canada approximately 19,100 miles of transmission pipeline, more than 285 billion cubic feet of storage, as well as natural gas gathering and processing, natural gas liquids operations and local distribution assets. The company also has a 50 percent ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the United States. Spectra Energy was recently ranked by FORTUNE as the world's "most admired" pipeline company. For more information, visit www.spectraenergy.com.

SOURCE Spectra Energy Corp