Enbridge Energy Partners Sees FY Net Income of $440-470M

Enbridge Energy Partners, L.P. EEP announced today that, given the decline in the natural gas liquids ("NGL") commodity price environment, it is updating its financial outlook for full year 2012. The Partnership expects full year adjusted net income for the current year to be between $440 million and $470 million, with adjusted EBITDA forecasted to be between $1.12 and $1.17 billion. Although the near term outlook for its natural gas business is being affected by the recent declines in NGL prices, the impact of commodity prices is significantly mitigated by the Partnership's existing commodity hedging arrangements. The Partnership's distributable cash flow profile will be elevated by previously announced growth projects in liquids and natural gas. These accretive growth projects are secured predominantly by a long-term, low-risk commercial framework (i.e., cost-of-service or ship-or-pay contract structures), which are not significantly affected by fluctuations in commodity prices and are expected to begin phasing in during early 2013.