Spectra Energy Corp, headquartered in Houston, Texas, operated in three key areas of the natural gas industry: transmission and storage, distribution, and gathering and processing.

On December 29, 2006 Standard & Poor's added Spectra Energy Corp. to its S&P 500 Index, replacing Parametric Technology Corp. (Nasdaq: PMTC), a software company, which then moved to the S&P MidCap 400 list instead.

By early August 2007, the S&P 500 breached its first 10% correction in over four years, and the shares of Spectra Energy Corp. sunk to their lowest point since trading had begun in December 2006, after the company announced that second quarter earnings had dropped 39 percent.

[citation needed] Canadian pipeline operator Enbridge Inc. on September 6, 2016, agreed to buy Spectra Energy in an all-stock deal valued at about $28 billion.

[12] An incident in 2010 from Spectra's Southeast Supply Header Pipeline did $561,563 in property damage, which led to it being fined a total of $201,300 by the US federal government.