PART 1: INTRODUCTION 1 PART 2: INTER TSO COMPARISON BY REGION 3

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Leslie Jade Pierce
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1 Contents PART 1: INTRODUCTION 1 PART 2: INTER TSO COMPARISON BY REGION North America Overview Network size and growth Operational performance Revenue growth and profitability Capital expenditure Expected line length addition and capital expenditure Latin America Overview Network size and growth Operational performance Revenue growth and profitability Capital expenditure Expected line length addition and capital expenditure 34 PART 3: TSO PROFILES BY COUNTRY AND REGION Leading TSOs in North America Canada AltaLink L.P. 39 Overview 39 Existing network 39 Operational performance 40 Financial performance 40 Future plans and investments 41 Key recent contracts 42 Key contacts ATCO Electric Limited 43 Overview 43 Existing network 43 Operational performance 44 Financial performance 44 Future plans and investments 45 Global Transmission Research i

2 Americas Electricity TSO Profiles Report Key recent contracts 47 Key contacts BC Hydro 47 Overview 47 Existing network 48 Operational performance 48 Financial performance 49 Future plans and investments 49 Key recent contracts 51 Key contacts ENMAX Power Corporation (EPC) 51 Overview 51 Existing network 52 Operational performance 52 Financial performance 52 Future plans and investments 53 Key contacts Hydro One Networks Inc. 54 Overview 54 Existing network 55 Operational performance 55 Financial performance 55 Future plans and investments 56 Key recent contracts 58 Key contacts Hydro Québec TransÉnergie Inc. 59 Overview 59 Existing network 59 Operational performance 60 Financial performance 61 Future plans and investments 61 Key recent contracts 64 Key contacts Manitoba Hydro 65 Overview 65 Existing network 65 Operational performance 66 Financial performance 66 Future plans and investments 67 Key recent contracts 68 Key contacts Nalcor Energy 69 Overview 69 Existing network 69 Operational performance 70 Financial performance 71 Future plans and investments 71 Key recent contracts 73 Key contacts New Brunswick Power (NB Power) 74 Overview 74 ii

3 Contents Existing network 74 Operational performance 75 Financial performance 75 Future plans and investments 75 Key recent contracts 76 Key contacts Nova Scotia Power Incorporated (NSPI) 77 Overview 77 Existing network 77 Financial performance 78 Future plans and investments 79 Key recent contracts 80 Key contacts SaskPower 80 Overview 80 Existing network 81 Operational performance 81 Financial performance 82 Future plans and investments 82 Key recent contracts 84 Key contacts USA Ameren Corporation 85 Overview 85 Existing network 85 Financial performance 86 Future plans and investments 88 Key contracts 89 Key contacts American Electric Power (AEP) 89 Overview 89 Existing network 90 Financial performance 94 Future plans and investments 96 Key contacts American Transmission Company (ATC) 99 Overview 99 Existing network 100 Operational performance 101 Financial performance 101 Future plans and investments 102 Key contracts 103 Key contacts Bonneville Power Administration (BPA) 104 Overview 104 Existing network 104 Financial performance 105 Future plans and investments 106 Key contracts 107 Key contacts 108 Global Transmission Research iii

4 Americas Electricity TSO Profiles Report CenterPoint Energy 108 Overview 108 Existing network 108 Operational performance 109 Financial performance 110 Future plans and investments 110 Key contracts 111 Key contacts Clean Line Energy Partners (CLE) 112 Overview 112 Future plans and investments 113 Key recent contracts 115 Key contacts Consolidated Edison (Con Edison) 116 Overview 116 Existing network 117 Operational performance 117 Financial performance 118 Future plans and investments 119 Key contract 120 Key contacts Dominion Resources, Inc. 121 Overview 121 Existing network 121 Operational performance 122 Financial performance 122 Future plans and investments 123 Key contracts 124 Key contacts Duke Energy 125 Overview 125 Existing network 126 Operational performance 128 Financial performance 128 Future plans and investments 130 Key contacts Entergy Corporation 131 Overview 131 Existing network 132 Financial performance 132 Future plans and investments 134 Key contacts Eversource Energy (formerly Northeast Utilities (NU)) 135 Overview 135 Existing network 135 Financial performance 136 Future plans and investments 137 Key contacts Exelon Corporation 139 Overview 139 Existing network 140 iv

5 Contents Operational performance 141 Financial performance 141 Future plans and investments 143 Key contracts 144 Key contacts FirstEnergy Corporation 144 Overview 144 Existing network 145 Financial performance 146 Future plans and investments 147 Key contacts Great Plains Energy 149 Overview 149 Existing network 150 Financial performance 151 Future plans and investments 151 Key contacts Iberdrola USA 152 Overview 152 Existing network 153 Operational performance 154 Financial performance 154 Future plans and investments 155 Key contracts 157 Key contacts ITC Holdings 157 Overview 157 Existing network 158 Financial performance 160 Future plans and investments 161 Key recent contracts 163 Key contacts MidAmerican Energy 163 Overview 163 Existing network 164 Financial performance 164 Future plans and investments 165 Key recent contracts 167 Key contacts National Grid USA 168 Overview 168 Existing network 169 Operational performance 169 Financial performance 169 Future plans and investments 170 Key contracts 172 Key contacts NextEra Energy 173 Overview 173 Existing network 173 Operational performance 175 Global Transmission Research v

6 Americas Electricity TSO Profiles Report Financial performance 175 Future plans and investments 176 Key contracts 178 Key contacts NorthWestern Energy (NW Energy) 178 Overview 178 Existing network 179 Financial performance 179 Future plans and investments 180 Key contacts NV Energy 181 Overview 181 Existing network 182 Financial performance 182 Future plans and investments 183 Key contacts Oklahoma Gas and Electric Company (OG&E) 184 Overview 184 Existing network 184 Operational performance 185 Financial performance 185 Future plans and investments 186 Key recent contracts 187 Key contacts Oncor Electricity Delivery 187 Overview 187 Existing network 188 Financial performance 188 Future plans and investments 189 Key contacts Pacific Gas and Electric Corporation (PG&E) 190 Overview 190 Existing network 190 Financial performance 191 Future plans and investments 192 Key contacts PacifiCorp 193 Overview 193 Existing network 193 Financial performance 194 Future plans and investments 195 Key recent contracts 196 Key contacts Pepco Holdings 196 Overview 196 Existing network 197 Operational performance 197 Financial performance 197 Future plans and investments 198 Key contacts 200 vi

7 Contents PNM Resources 200 Overview 200 Existing network 201 Financial performance 201 Future plans and investments 202 Key recent contracts 204 Key contacts PPL Electric Utilities Corporation 204 Overview 204 Existing network 205 Financial performance 206 Future plans and investments 206 Key recent contracts 208 Key contacts Public Services Electric & Gas (PSE&G) 208 Overview 208 Existing network 209 Financial performance 210 Future plans and investments 211 Key recent contracts 212 Key contacts Southern California Edison (SCE) 213 Overview 213 Existing network 213 Financial performance 214 Future plans and investments 214 Key recent contracts 215 Key contacts Southern Company 216 Overview 216 Existing network 217 Financial performance 217 Future plans and investments 218 Key recent contracts 219 Key contacts Tennessee Valley Authority 220 Overview 220 Existing network 220 Operational performance 221 Financial performance 221 Future plans and investments 222 Key recent contracts 223 Key contacts Westar Energy 224 Overview 224 Existing network 224 Financial performance 225 Future plans and investments 225 Key recent contracts 226 Key contacts 226 Global Transmission Research vii

8 Americas Electricity TSO Profiles Report Xcel Energy 227 Overview 227 Existing network 227 Financial performance 229 Future plans and investments 230 Key contacts Leading TSOs in Latin America Argentina Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener S.A. (Transener) 233 Overview 233 Existing network 234 Operational performance 235 Financial performance 235 Future plans and investments 236 Key contacts Bolivia Empresa Nacional de Electricidad (ENDE)/ Transportadora de Electricidad (TDE) 238 Overview 238 Existing network 238 Operational performance 239 Financial performance 240 Future plans and investments 240 Key recent contracts 243 TDE s key contacts ISA BOLIVIA S.A. (ISA Bolivia) 243 Overview 243 Existing network 244 Operational performance 244 Financial performance 245 Future plans and investments 245 Key contacts Brazil CELG Geração e Transmissão S.A. (CELG GT) 246 Overview 246 Existing network 246 Financial performance 246 Future plans and investments 248 Key recent contracts 249 Key contacts Companhia Hidro Elétrica do São Francisco (Chesf) 250 Overview 250 Existing network 251 Operational performance 252 Financial performance 252 Future plans and investments 253 Key recent contracts 256 viii

9 Contents Key contacts Companhia Energetica de Minas Gerais (Cemig) 258 Overview 258 Existing network 259 Operational performance 260 Financial performance 260 Future plans and investments 262 Key recent contracts 263 Key contacts Companhia Estadual de Geração e Transmissão Energia Elétrica (CEEE GT) 264 Overview 264 Existing network 264 Operational performance 265 Financial performance 266 Future plans and investments 267 Key recent contracts 269 Key contacts Companhia de Transmissão de Energia Elétrica Paulista (CTEEP) 270 Overview 270 Existing network 271 Operational performance 272 Financial performance 272 Future plans and investments 273 Key recent contracts 275 Key contacts Copel Geração e Transmissão S.A. (Copel GeT) 275 Overview 275 Existing network 276 Operational performance 277 Financial performance 278 Future plans and investments 278 Key recent contracts 282 Key contacts Centrais Elétricas Brasileiras S.A. (Eletrobrás) 282 Overview 283 Existing network 283 Operational performance 285 Financial performance 285 Future plans and investments 286 Key contacts Centrais Elétricas do Norte do Brasil S.A. (Eletronorte) 287 Overview 287 Existing network 287 Operational performance 289 Financial performance 289 Future plans and investments 290 Key recent contracts 292 Key contacts 293 Global Transmission Research ix

10 Americas Electricity TSO Profiles Report Eletrosul Centrais Elétricas S.A. (Eletrosul) 293 Overview 293 Existing network 294 Operational performance 295 Financial performance 295 Future plans and investments 296 Key recent contracts 301 Key contacts Furnas Centrais Elétricas S.A. (Furnas) 302 Overview 302 Existing network 302 Operational performance 304 Financial performance 304 Future plans and investments 305 Key recent contracts 307 Key contacts State Grid Brazil Holding S.A. (SGBH) 308 Overview 308 Existing network 309 Financial performance 309 Future plans and investments 310 Key recent contracts 312 Key contacts Chile AES Gener S.A. 313 Overview 313 Existing network 314 Financial performance 314 Future plans and investments 315 Key recent contracts 316 Key contacts E CL S.A. 317 Overview 317 Existing network 317 Operational performance 318 Financial performance 318 Future plans and investments 319 Key recent contracts 320 Key contacts Transelec S.A. 321 Overview 321 Existing network 322 Operational performance 322 Financial performance 322 Future plans and investments 323 Key recent contracts 324 Key contacts Transnet S.A. 325 Overview 325 Existing network 325 Operational performance 327 x

11 Contents Financial performance 327 Future plans and investments 328 Key contacts Colombia Empresa de Energía de Bogotá S.A. ESP (EEB) 329 Overview 329 Existing network 329 Operational performance 329 Financial performance 330 Future plans and investments 330 Key recent contracts 332 Key contacts Empresa de Energía del Pacífico S.A. E.S.P. (EPSA) 332 Overview 332 Existing network 333 Operational performance 333 Financial performance 334 Future plans and investments 334 Key recent contracts 335 Key contacts Empresas Públicas de Medellín E.S.P. (EPM) 336 Overview 336 Existing network 336 Financial performance 337 Future plans and investments 338 Key recent contracts 339 Key contacts Interconexión Eléctrica S.A. (ISA) 339 Overview 339 Existing network 340 Operational performance 341 Financial performance 341 Future plans and investments 342 Key recent contracts 344 Key contacts Transelca S.A. 344 Overview 344 Existing network 345 Operational performance 345 Financial performance 346 Future plans and investments 346 Key recent contracts 347 Key contacts Ecuador TRANSELECTRIC S.A. 348 Overview 348 Existing network 348 Operational performance 349 Financial performance 349 Future plans and investments 350 Global Transmission Research xi

12 Americas Electricity TSO Profiles Report Key recent contracts 352 Key contacts Guatemala Empresa de Transporte y Control de Energía Eléctrica (ETCEE) 354 Overview 354 Existing network 354 Operational performance 355 Financial performance 356 Future plans and investments 356 Key recent contracts 357 Key contacts INDE Fersa Sociedad Anónima (Fersa SA) 357 Overview 357 Key contact Transportadora de Energía de Centroamérica S.A. (TRECSA) 360 Overview 360 Key contacts Transportista Eléctrica Centroamericana, S. A. (TRELEC) 362 Overview 362 Existing network 363 Operational performance 363 Future plans and investments 364 Key contacts Mexico Comisión Federal de Electricidad (CFE) 366 Overview 366 Existing network 366 Operational performance 367 Financial performance 367 Future plans and investments 368 Key recent contracts 370 Key contacts Paraguay Administración Nacional de Electricidad (ANDE) 372 Overview 372 Existing network 372 Operational performance 373 Financial performance 373 Future plans and investments 374 Key recent contracts 375 Key contacts Panama Empresa de Transmisión Eléctrica S.A. (ETESA) 376 Overview 376 Existing network 376 Financial performance 377 Future plans and investments 377 xii

13 Contents Key recent contracts 378 Key contacts Peru Abengoa Peru S.A. 380 Overview 380 Existing network 380 Future plans and investments 381 Key recent contracts 382 Key contacts Consorcio Energético de Huancavelica S.A. (CONENHUA) 382 Overview 382 Financial performance 383 Key contacts Consorcio Transmantaro S.A. (CTM) 383 Overview 383 Existing network 384 Operational performance 385 Financial performance 385 Future plans and investments 386 Key contacts Etenorte S.R.L. 387 Overview 387 Operational performance 387 Financial performance 387 Key contacts Eteselva S.R.L. 388 Overview 388 Financial performance 388 Key contacts ISA Perú S.A. 388 Overview 389 Existing network 389 Operational performance 389 Financial performance 390 Future plans and investments 390 Key contacts Red de Energía del Perú S.A. (REP SA) 391 Overview 391 Existing network 391 Operational performance 392 Financial performance 392 Future plans and investments 393 Key contacts Red Eléctrica del Sur S.A. (Redesur) 394 Overview 394 Existing network 394 Operational performance 395 Financial performance 395 Future plans and investments 395 Key contacts 395 Global Transmission Research xiii

14 Americas Electricity TSO Profiles Report Uruguay Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE) 396 Overview 396 Existing network 396 Operational performance 397 Financial performance 398 Future plans and investments 398 Key recent contracts 400 Key contacts Venezuela Corporación Electrica Nacional, S.A. (CORPOELEC) 401 Overview 401 Existing network 401 Operational performance 403 Financial performance 403 Future plans and investments 403 Key recent contracts 404 Key contacts 405 PART 4: APPENDIX Detailed list of TSOs covered in the report Sources and methodology List of tables 419 xiv

QuarterlyResults A quick follow up to ISA Group's overall performance

QuarterlyResults A quick follow up to ISA Group's overall performance 4 th Quarter & 1 st Quarter 2007 ISA Interconexión Eléctrica S.A. E.S.P. Stockholder call center: 018000 11 5000 Stockholder office: Calle 12 sur N 18-168. Medellín, Colombia, South America. Phone: (574)