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Exhibit 99.1
 
 Media& Analysts:
    
    Sean Blakley(713) 627-4963Date:
    
    February 7, 2008
 Spectra Energy Partners Reports Fourth Quarter 2007 Financial Results
 
    
    Fourth quarter net income of $22.4 million up 34 percent over prior year quarter
    
    Earnings per limited partner unit of 33 cents per unit
    
    Highlights from 2007:
 o
    
    Successful IPO launchedo
    
    Announced Saltville acquisition; Closing expected second quarter 2008o
    
    Increased fourth quarter 2007 distribution to 32 cents per unit
    1




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Quarterly Results from Operations
  Operating Income
  2




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Equity Investment in Gulfstream
  Equity Investment in MHP
  Interest Income and Expense
  Capital Expenditures and Equity Investments
  3




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Additional Information
    Reconciliation of Non-GAAP Financial Measures
  4




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5




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www.spectraenergypartners.com
  6




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Spectra Energy Partners, LP
Quarterly Highlights
December 2007
(Unaudited)
 Quarter Ended
    
    
    Year EndedDecember 31,
    
    
    December 31,2007
    
    
    2006
    
    
    2007
    
    
    2006INCOMEOperating revenues
    
    $
    26.2
    
    
    $
    23.4
    
    
    $
    100.1
    
    
    $
    82.6Operating expenses
    
    
    13.5
    
    
    
    15.9
    
    
    
    46.0
    
    
    
    45.0Operating income
    
    
    12.7
    
    
    
    7.5
    
    
    
    54.1
    
    
    
    37.6Equity in earnings of unconsolidated affiliates
    
    
    14.1
    
    
    
    12.4
    
    
    
    55.6
    
    
    
    41.1Other income and expenses, net
    
    
    (0.1
    )
    
    
    0.7
    
    
    
    0.3
    
    
    
    1.8Interest income
    
    
    2.7
    
    
    
    
    
    
    
    5.5
    
    
    
    Interest expense
    
    
    6.3
    
    
    
    2.0
    
    
    
    17.1
    
    
    
    8.2Earnings before income taxes
    
    
    23.1
    
    
    
    18.6
    
    
    
    98.4
    
    
    
    72.3Income tax expense (benefit) (a)
    
    
    0.7
    
    
    
    1.9
    
    
    
    (99.1
    )
    
    
    10.7Net income
    
    $
    22.4
    
    
    $
    16.7
    
    
    $
    197.5
    
    
    $
    61.6Adjusted EBITDA (b)
    
    $
    18.4
    
    
    $
    12.3
    
    
    $
    77.3
    
    
    $
    56.6Cash Available for Distribution (c)
    
    $
    20.6
    
    
    $
    10.6
    
    
    $
    117.7
    
    
    $
    80.4Weighted Average Units OutstandingCommon units
    
    
    44.6
    
    
    
    n/a
    
    
    
    44.6
    
    
    
    n/aSubordinated units
    
    
    21.6
    
    
    
    n/a
    
    
    
    21.6
    
    
    
    n/aGeneral partners units
    
    
    1.4
    
    
    
    n/a
    
    
    
    1.4
    
    
    
    n/aEarnings Per Limited Partner Unit
    
    
    0.33
    
    
    
    n/a
    
    
    
    0.68
    
    
    
    n/aCash Available for Distribution Per Limited
Partner Unit
    
    
    0.30
    
    
    
    n/a
    
    
    
    0.85
    
    
    
    n/aDEBTTotal debt
    
    
    
    
    
    
    
    
    
    $
    450.0Investment grade securities
    
    
    
    
    
    
    
    
    
    
    154.6Net debt
    
    
    
    
    
    
    
    
    
    $
    295.4CAPITAL AND INVESTMENT EXPENDITURESCapital expenditures  East Tennessee
    
    $
    7.9
    
    
    $
    16.0
    
    
    $
    27.0
    
    
    $
    85.9InvestmentsGulfstream  our 24.5%
    
    
    11.0
    
    
    
    
    
    
    
    18.7
    
    
    
    Market Hub  our 50%
    
    
    2.5
    
    
    
    
    
    
    
    9.6
    
    
    
    Total capital and investment expenditures
    
    $
    21.4
    
    
    $
    16.0
    
    
    $
    55.3
    
    
    $
    85.9
 
 (a)
    
    The year ended December 31, 2007 includes a one-time benefit of $110.5 million from the
reversal of income tax liabilities.(b)
    
    Adjusted EBITDA is defined as net income plus interest expense, income taxes, and depreciation
and amortization, less equity in earnings of Gulfstream and Market Hub, interest income, and other
income and expenses, net, which primarily includes non-cash allowance for funds used during
construction (AFUDC).(c)
    
    Cash Available for Distribution is defined as Adjusted EBITDA plus Cash Available for
Distribution from Gulfstream and Market Hub less net cash paid for interest expense and maintenance
capital expenditures. Cash Available for Distribution does not reflect changes in working capital
balances. 7




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Spectra Energy Partners, LP
Adjusted EBITDA and Cash Available for Distribution
December 2007
(Unaudited)
 Quarter Ended
    
    
    Year EndedDecember 31,
    
    
    December 31,2007
    
    
    2006
    
    
    2007
    
    
    2006Spectra Energy PartnersReconciliation of Non-GAAP Adjusted EBITDA and
Cash Available for Distribution to GAAP Net IncomeNet income
    
    $
    22.4
    
    
    $
    16.7
    
    
    $
    197.5
    
    
    $
    61.6Add:Interest expense
    
    
    6.3
    
    
    
    2.0
    
    
    
    17.1
    
    
    
    8.2Income tax expense (benefit)
    
    
    0.7
    
    
    
    1.9
    
    
    
    (99.1
    )
    
    
    10.7Depreciation and amortization
    
    
    5.7
    
    
    
    4.8
    
    
    
    23.2
    
    
    
    19.0Less:Equity in earnings of Gulfstream
    
    
    5.1
    
    
    
    4.7
    
    
    
    23.5
    
    
    
    16.8Equity in earnings of Market Hub
    
    
    9.0
    
    
    
    7.7
    
    
    
    32.1
    
    
    
    24.3Interest income
    
    
    2.7
    
    
    
    
    
    
    
    5.5
    
    
    
    Other income (expenses), net
    
    
    (0.1
    )
    
    
    0.7
    
    
    
    0.3
    
    
    
    1.8Adjusted EBITDA
    
    
    18.4
    
    
    
    12.3
    
    
    
    77.3
    
    
    
    56.6Add:Cash Available for Distribution from Gulfstream
    
    
    3.0
    
    
    
    3.7
    
    
    
    28.9
    
    
    
    23.8Cash Available for Distribution from Market Hub
    
    
    6.0
    
    
    
    1.8
    
    
    
    31.9
    
    
    
    19.5Less:Cash paid for interest expense, net
    
    
    5.1
    
    
    
    4.3
    
    
    
    10.3
    
    
    
    8.6Maintenance capital expenditures
    
    
    1.7
    
    
    
    2.9
    
    
    
    10.1
    
    
    
    10.9Cash Available for Distribution
    
    $
    20.6
    
    
    $
    10.6
    
    
    $
    117.7
    
    
    $
    80.4
 8




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Spectra Energy Partners, LP
Gulfstream  Adjusted EBITDA and Cash Available for Distribution
December 2007
(Unaudited)
 Quarter Ended
    
    
    Year EndedDecember 31,
    
    
    December 31,2007
    
    
    2006
    
    
    2007
    
    
    2006GulfstreamReconciliation of Non-GAAP Adjusted EBITDA and
Cash Available for Distribution to GAAP Net IncomeNet income
    
    $
    20.6
    
    
    $
    18.9
    
    
    $
    95.4
    
    
    $
    68.4Add:Interest expense
    
    
    11.7
    
    
    
    12.2
    
    
    
    47.9
    
    
    
    48.8Depreciation and amortization
    
    
    7.3
    
    
    
    7.6
    
    
    
    30.0
    
    
    
    30.4Less:Other income, net
    
    
    2.1
    
    
    
    0.5
    
    
    
    3.9
    
    
    
    0.4Adjusted
EBITDA  100%
    
    
    37.5
    
    
    
    38.2
    
    
    
    169.4
    
    
    
    147.2Less:Cash paid for interest expense, net
    
    
    24.6
    
    
    
    22.6
    
    
    
    49.9
    
    
    
    49.5Maintenance capital expenditures
    
    
    0.6
    
    
    
    0.5
    
    
    
    1.4
    
    
    
    0.6Cash Available for Distribution  100%
    
    $
    12.3
    
    
    $
    15.1
    
    
    $
    118.1
    
    
    $
    97.1Adjusted EBITDA  24.5%
    
    $
    9.2
    
    
    $
    9.4
    
    
    $
    41.5
    
    
    $
    36.1Cash Available for Distribution  24.5%
    
    $
    3.0
    
    
    $
    3.7
    
    
    $
    28.9
    
    
    $
    23.8
 9




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Spectra Energy Partners, LP
Market Hub  Adjusted EBITDA and Cash Available for Distribution
December 2007
(Unaudited)
 Quarter Ended
    
    
    Year EndedDecember 31,
    
    
    December 31,2007
    
    
    2006
    
    
    2007
    
    
    2006Market HubReconciliation of Non-GAAP Adjusted EBITDA and
Cash Available for Distribution to GAAP Net IncomeNet income
    
    $
    18.0
    
    
    $
    15.5
    
    
    $
    64.2
    
    
    $
    48.7Add:Interest expense
    
    
    0.7
    
    
    
    1.0
    
    
    
    3.6
    
    
    
    2.6Income tax expense
    
    
    0.1
    
    
    
    
    
    
    
    0.1
    
    
    
    Depreciation and amortization
    
    
    2.5
    
    
    
    2.1
    
    
    
    9.1
    
    
    
    7.8Less:Interest income
    
    
    1.3
    
    
    
    
    
    
    
    2.2
    
    
    
    Other income, net
    
    
    7.0
    
    
    
    10.6
    
    
    
    7.1
    
    
    
    10.6Adjusted EBITDA  100%
    
    
    13.0
    
    
    
    8.0
    
    
    
    67.7
    
    
    
    48.5Less:Maintenance capital expenditures
    
    
    1.1
    
    
    
    4.4
    
    
    
    4.0
    
    
    
    9.6Cash Available for Distribution  100%
    
    $
    11.9
    
    
    $
    3.6
    
    
    $
    63.7
    
    
    $
    38.9Adjusted EBITDA  50%
    
    $
    6.5
    
    
    $
    4.0
    
    
    $
    33.9
    
    
    $
    24.3Cash Available for Distribution  50%
    
    $
    6.0
    
    
    $
    1.8
    
    
    $
    31.9
    
    
    $
    19.5
 10




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Spectra Energy Partners, LP
Adjusted EBITDA and Cash Available for Distribution
December 2007
(Unaudited)
 July 2, 2007  December 31, 2007Spectra Energy PartnersReconciliation of Non-GAAP Adjusted EBITDA and
Cash Available for Distribution to GAAP Net IncomeNet income
    
    $
    156.7Add:Interest expense
    
    
    12.8Income tax expense (benefit)
    
    
    (109.7
    )Depreciation and amortization
    
    
    13.2Less:Equity in earnings of Gulfstream
    
    
    15.0Equity in earnings of Market Hub
    
    
    17.6Interest income
    
    
    5.5Other income (expenses), net
    
    
    (0.1
    )Adjusted EBITDA
    
    
    35.0Add:Cash Available for Distribution from Gulfstream
    
    
    17.0Cash Available for Distribution from Market Hub
    
    
    15.7Less:Cash paid for interest expense, net
    
    
    6.1Maintenance capital expenditures
    
    
    3.9Cash Available for Distribution
    
    $
    57.7
 11




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Spectra Energy Partners, LP
Net Income
December 2007
(Unaudited)
 Reconciliation of Reported to Ongoing Net Income
 Quarter Ended
    
    
    Year EndedDecember 31,
    
    
    December 31,2007
    
    
    2006
    
    
    2007
    
    
    2006Net Income as Reported *
    
    $
    22.4
    
    
    $
    16.7
    
    
    $
    197.5
    
    
    $
    61.6Special Item  Tax Benefit
    
    
    
    
    
    
    
    
    
    
    (110.5
    )
    
    
    Ongoing Net Income
    
    $
    22.4
    
    
    $
    16.7
    
    
    $
    87.0
    
    
    $
    61.6
 
 *
    
    The year ended 2007 includes a one-time benefit of $110.5 million from the reversal of income tax
liabilities. 12