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ACCOUNTS RECEIVABLE AND OTHER
 12 Months Ended
Dec. 31, 2013
ACCOUNTS RECEIVABLE AND OTHER  
ACCOUNTS RECEIVABLE AND OTHER

8.          ACCOUNTS RECEIVABLE AND OTHER

 

December 31,

 

2013

 

2012

 

(millions of Canadian dollars)

 

 

 

 

 

Unbilled revenues

 

2,773

 

2,289

 

Trade receivables

 

1,215

 

677

 

Taxes receivable

 

200

 

123

 

Regulatory assets

 

54

 

-

 

Short-term portion of derivative assets (Note 23)

 

385

 

383

 

Prepaid expenses and deposits

 

123

 

132

 

Current deferred income taxes (Note 24)

 

120

 

167

 

Dividends receivable

 

26

 

26

 

Other

 

98

 

266

 

Allowance for doubtful accounts

 

(38

)

(49

)

 

 

4,956

 

4,014

 

 

Pursuant to a Receivables Purchase Agreement (the Receivables Agreement), certain trade and accrued receivables (the Receivables) have been sold by certain of EEP’s subsidiaries to an Enbridge wholly-owned special purpose entity (SPE). The Receivables owned by the SPE are not available to Enbridge except through its 100% ownership in such SPE. The Receivables Agreement, as amended on September 20, 2013 and again on December 2, 2013, provides for subsequent purchases to occur on a monthly basis through to December 2016; however, the accumulated purchases net of collections cannot exceed US$450 million at any one point. As at December 31, 2013, the value of trade and accrued receivables outstanding owned by the SPE totalled US$380 million ($404 million).