Glenn Beaumont, President, Enbridge Gas Distribution presented as part of Enbridge Day.

1. Enbridge Day 2014
Gas Distribution
Glenn Beaumont
President, Enbridge Gas Distribution

2. Enbridge Day 2014
Key Messages
• Strong business fundamentals
• Approval of incentive regulation model provides a solid
foundation for continued investment
• GTA project approval provides flexibility, reliability and
access to supply basins for gas customers
• Gas supply, storage and pipeline capacity strategies
designed to protect and enhance customer value

3. • Natural gas remains competitive vs. other fuels
• Customer additions remain steady
• New majority Liberal government in Ontario supports
expanding access to natural gas
Business Fundamentals
0.0
0.5
1.0
1.5
2.0
2.5
Actual
2012
Actual
2013
Forecast
2014
LRP
2015
LRP
2016
LRP
2017
LRP
2018
Average Number of Customers
Millions
Strong competitive position and continued growth
$0
$1,000
$2,000
$3,000
$4,000
Natural Gas Heating Oil Electricity Propane
Annual Bill Comparison
3

4. •First Custom IR plan
approved in Ontario
•Five-year plan (2014 - 2018
inclusive)
•Fair and balanced decision
for customers and
shareholders
- Allows for ROE upside and
supports capital investment
Custom Incentive Regulation Plan
0%
2%
4%
6%
8%
10%
12%
2014 2015 2018
Current ROE Forecasts (2014 – 2018)
Formula ROE ROE Premium
Board
Approved
Forecast
4
A solid foundation for continued investment

5. Custom Incentive Regulation Plan - Capital
5
•Approval of five-year estimated capital to meet customer
growth and system expansion
0
200
400
600
800
1,000
2008 2009 2010 2011 2012 2013 2014 2015 2106 2017 2018
$Millions
GTA
WAMS
Core
Previous IR approved capital New IR approved capital

6. • Approved by Ontario
Energy Board in January
• Increases
capacity/reliability in the
GTA/downtown Toronto
• Provides additional
supply/basin optionality
• Construction begins:
December 2014
• In service: Fall 2015
GTA Project
Segment B
Segment A
Total Cost =
~$700 M
Provides increased capacity, reliability and supply diversity for gas customers
6

7. • Increasing supply
diversity
- Access to Marcellus/Utica
• Optimizing transport
- Reducing distance for
winter needs
Gas Supply
WCSB
Chicago
Dawn
Niagara
2015
7
Focused on ensuring customer access to sufficient supply at lowest cost
2018

8. • Access to Dawn
storage key to
managing price
volatility for
customers
• More reliance on
storage in future
• Increased storage
development
Natural Gas Storage
8
Increased storage facilities to protect customers from cost variability

9. TCPL Capacity Requirements
• Retention of required
existing capacity and access
• Continued economic/
industrial competitiveness
vs. nearby jurisdictions
Remaining Natural Gas
Conversion to Oil
Alternative Oil
Proposal Option
New Oil Pipeline
(TCPL Proposed)
TCPL Proposed
Replacement Gas Pipeline
9
Ensure no impairment of customer supply access or increased Eastern Canada
rate base burden

10. Enbridge Day 2014
Key Takeaways
• Business fundamentals remain strong
• Incentive Regulation model provides stability
• First of its kind, custom plan in Ontario that allows for required
investments
• GTA Project Approval provides increased flexibility,
reliability and access to supply basins
• Gas supply, storage and pipelines capacity strategies will
benefit customers

11. Enbridge Day 2014
Q&A
Glenn Beaumont
President, Enbridge Gas Distribution