Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously reported on June 30, 2008, the Board of Directors of Spectra Energy Corp appointed Gregory L. Ebel to succeed Fred J. Fowler as President and Chief Executive Officer, effective January 1, 2009.

On December 9, 2008, in light of his new role, the Board of Directors of Spectra Energy approved revisions to Mr. Ebel's compensation. Mr. Ebel will receive a base salary at an annual rate of $850,000, subject to annual review. He will also receive an annual short-term incentive opportunity with a target equal to 90% of his annual base salary, based on the achievement of individual and company performance criteria, and an annual long-term incentive opportunity under our 2007 Long-Term Incentive Plan with a target equal to 250% of his base salary.

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