Revenue during the quarter went up marginally by 2.61 percent to $628 million from $612 million in the previous year period. Total expenses were 55.41 percent of quarterly revenues, up from 47.88 percent for the same period last year. That has resulted in a contraction of 754 basis points in operating margin to 44.59 percent.

Operating income for the quarter was $280 million, compared with $319 million in the previous year period.

"Spectra Energy Partners' results once again benefited from our robust expansion program, and reflect the strength of our fee-based business model that has no direct commodity exposure, virtually no volume exposure, and high credit-quality customers," said Greg Ebel, chief executive officer, Spectra Energy Partners. "Our base business continues to perform well, and we achieved a renewal rate of more than 98 percent of contracted revenues on our U.S. natural gas pipelines ��" a very solid indication of the value our customers place on our system and the strategic value of having assets in the ground to build upon. We continue to generate strong and reliable cash flows that support the growth in the distributions we promised to investors at the beginning of the year."

Days sales outstanding went down to 20 days for the quarter compared with 43 days for the same period last year.

Debt comes down
Spectra Energy Partners LP has recorded a decline in total debt over the last one year. It stood at $5,454 million as on Sep. 30, 2016, down 11.72 percent or $724 million from $6,178 million on Sep. 30, 2015. Total debt was 26.16 percent of total assets as on Sep. 30, 2016, compared with 32.30 percent on Sep. 30, 2015. Interest coverage ratio deteriorated to 5.28 for the quarter from 5.41 for the same period last year.