ENBRIDGE 2000 ANNU AL REPORT 52 Net Pension Plan and OPEB Costs Accounting for Derivative Instruments and Hedging Activities In June 1998, the Financial Accounting Standards Board (FASB) issued FAS 133  Accounting for Derivative Instruments and Hedging Activities , as amended, which is required to be adopted in years beginning after June 15, 2000. This statement requires that all derivatives be recognized at fair value in the balance sheet and all changes in fair value be recognized currently in earnings or deferred as a component of other comprehensive income, depending on the intended use of the derivative, its resulting designation and its effectiveness. The Company is required to adopt the new statement effective  January 1, 2001. This statement is not expected to have a material effect on the financial statements. (millions of dollars) December 31, 2000 1999 1998 Benefits earned during the year 23.0 24.9 20.8 Interest cost on projected benefit obligations 51.1 49.5 48.2 Expected return on plan assets (76.2) (66.4) (54.9) Amortization and deferral of unrecognized amounts (8.9) (2.2) (1.0) Amount credited to the Partnership 6.5 3.0 0.2 Pension and OPEB (credit)/expense (4.5) 8.8 13.3