Enbridge, Spectra Energy to Settle Charges Merger Would Harm Competition
Energy infrastructure firms Enbridge Inc and Spectra Energy Corp have agreed to settle charges their merger would hurt competition in the market for gas pipeline transportation in three areas off the Louisiana coast, the Federal Trade Commission said on Thursday.
The FTC said the firms agreed to resolve the charges by adopting a consent decree that would require Enbridge to notify the panel before acquiring an ownership interest in any natural gas pipeline operating in the Grand Canyon, Walker Ridge and Keathley Canyon areas off Louisiana.
The decree also would require Enbridge to notify the FTC before increasing Spectra's ownership interest in certain pipelines in the area and would require Enbridge to establish firewalls to limit its access to non-public information about Discovery Pipeline. Spectra affiliated firms have a 40 percent interest in Discovery, the FTC said.
Reporting by David Alexander
