Edgar Filing: Spectra Energy Corp.

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:

3235-0287

Expires:

January 31, 2005

Estimated average burden hours per response...

0.5

(Print or Type Responses)

1. Name and Address of Reporting Person ^*

EBEL GREGORY L

2. Issuer Name and Ticker or Trading Symbol
Spectra Energy Corp. [SE]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Group VP & CFO

(Last)

(First)

(Middle)

5400 WESTHEIMER COURT

3. Date of Earliest Transaction (Month/Day/Year)
01/02/2007

(Street)

HOUSTON, TX 77056-5310

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

LTIP Phantom Stock Grant Feb 2004 ⁽¹⁾

⁽²⁾

01/02/2007

1,053

⁽³⁾

⁽⁴⁾

Common Stock

1,053

$ 0

1,053

Phantom Stock ESP ⁽¹⁾

⁽²⁾

01/02/2007

⁽⁵⁾

⁽⁴⁾

Common Stock

$ 0

By Trustee, Executive's Savings Plan

LTIP Phantom Stock Grant Feb 2005 ⁽¹⁾

⁽²⁾

01/02/2007

1,280

⁽⁶⁾

⁽⁴⁾

Common Stock

1,280

$ 0

1,280

LTIP Phantom Stock Grant Apr 2006 ⁽¹⁾

⁽²⁾

01/02/2007

1,775

⁽⁷⁾

⁽⁴⁾

Common Stock

1,775

$ 0

1,775

Performance Shares ⁽¹⁾

⁽²⁾

01/02/2007

2,195

02/24/2007⁽⁸⁾

⁽⁴⁾

Common Stock

2,195

$ 0

2,195

Performance Shares ⁽¹⁾

⁽²⁾

01/02/2007

2,000

02/28/2008⁽⁸⁾

⁽⁴⁾

Common Stock

2,000

$ 0

2,000

Performance Shares ⁽¹⁾

⁽²⁾

01/02/2007

2,665

04/14/2009⁽⁸⁾

⁽⁴⁾

Common Stock

2,665

$ 0

2,665

Performance Shares/Chariman's Award ⁽¹⁾

⁽²⁾

01/02/2007

5,000

⁽⁹⁾

⁽⁴⁾

Common Stock

5,000

$ 0

5,000

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
EBEL GREGORY L 5400 WESTHEIMER COURT HOUSTON, TX 77056-5310			Group VP & CFO

Signatures

Beverly J. Fite as Attorney in Fact for Gregory L. Ebel.		01/04/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On January 2, 2007, Duke Energy Corporation distributed all of the shares of common stock of Spectra Energy Corp to Duke Energy's shareholders. In connection with the distribution, the reporting person was granted long-term incentive awards in partial substitution of long-term incentive awards previously issued by Duke Energy.
(2)	Converts to Common Stock on a 1-for-1 basis.
(3)	The phantom shares vest in 3 annual installments beginning February 2007.
(4)	Expiration date not applicable.
(5)	Payable upon termination of employment or occurence of other events as specified in the Spectra Energy Corp Executive Savings Plan, subject to holding periods required by law.
(6)	The phantom shares vest in 4 annual installments beginning February 2007.
(7)	The phantom shares vest in 5 annual installments beginning April 2007.
(8)	May vest earlier upon achievement of specified total shareholder return.
(9)	1/3 vested on 01/01/2007 and the remainder vest on 01/01/2011.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.