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Quick Facts about TransCanada in Northeast

Renewable Energy’s Future in New England: Does the Customer Matter Anymore??? New England Restructuring Roundtable Boston, Massachusetts September 17, 2010. Quick Facts about TransCanada in Northeast. New England 13 hydro stations on CT and Deerfield Rivers 600 MW Ocean State Power

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Quick Facts about TransCanada in Northeast

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  1. Renewable Energy’s Future in New England:Does the Customer Matter Anymore???New England Restructuring RoundtableBoston, MassachusettsSeptember 17, 2010

  2. Quick Facts about TransCanada in Northeast • New England • 13 hydro stations on CT and Deerfield Rivers • 600 MW Ocean State Power • 132 MW Kibby Wind Power Project • New York City 2480 MW Ravenswood • Provide retail and wholesale power for load service • Retail service to nearly 200 municipalities, 80 hospitals, 40 colleges / universities, hundreds of • other large commercial and industrial customers TransCanada

  3. 132 MW wind project in NW Maine First phase (1/2) on line 44 – 3 MW Vestas turbines Category 5 wind regime $320 Million investment Jobs: 250 at peak; 10 – 12 permanent Kibby Wind Power Project TransCanada

  4. Massachusetts Green Communities Act • Established new, “on-site” renewable requirement • State’s DoER mandated 400 MW solar PV • Cost from 30¢/kWh floor to 60¢/kWh cap • Cumulative program cost from $1.4 to $2.7 Billion • Solar installations must be in Massachusetts • Starts in 2010, impacted existing retail contracts • Ordered utilities to contract long term for 3% of energy demand from new renewables built in Massachusetts TransCanada

  5. TransCanada Federal Lawsuit • Alleged violation of U.S. Constitution Commerce Clause • Commerce Clause prevents states from creating protectionist barriers • “Discrimination under the Commerce Clause means differential treatment of in-state and out-of-state economic interests that benefits the former and burdens the latter” • First Circuit Court of Appeals TransCanada

  6. Economics of State Renewable Initiatives TransCanada

  7. Erosion of Choice, Unbundling, Restructuring? • “If we had to charge everybody on the standard offer, everybody would leave the standard offer and we’d have nobody to recover the costs, and that’s why it’s done that way with the distribution charges.” • National Grid explaining the rate • treatment of the Deepwater Wind • costs in Rhode Island, Deepwater • Wind contract hearings, August 4, 2010 TransCanada

  8. Solar Photovoltaic Siting TransCanada

  9. Should state energy mandates have solid economic basis? • Needed for stability, transparency, efficiency • Every business has an investment criteria • Internal rate of return, payback period, net present value, profitability index • DPU has long-standing approval standard for contracts: “likely to result in net savings for customers” • Carbon and renewable values have been monetized by RGGI and RPS • Why should the customer pay far more than value received???? TransCanada

  10. Thank you ! TransCanada

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