RNS Rate – Effective June 1, 2014

1. RNS Rate – Effective June 1, 2014 PTO AC - Rates Working Group – Presentation NEPOOL Reliability Committee / Transmission Committee – Summer Meeting August 11 – 12, 2014

2. Presentation Overview Slide 3 4 5 6 7 10 – 20 23 – 24 25 – 26 27 General Rate Overview • ISO-NE OATT Requirements • Summary of RNS Rate Change • Annual Transmission Revenue Requirements • Regional Forecast Summary • Annual True-up Summary Detailed Company Discussions • PTO Forecast / True-up Detail Appendix • Historical RNS Rate Information • PTF Investment History • RNS ATRR Reconciliation

3. Schedule 9 – Rate Design • Attachment F – Formula Rate • Updated Annually • Effective June 1 • Reflects: • Previous calendar year data, plus • Forecasted revenue requirements, plus • Annual true-up & associated interest • PTO AC Annual Informational Filing • Draft Filing posted on ISO-NE’s website on 6/13/14 • Final Filing was submitted to FERC and posted on ISO-NE’s Website on 7/31/14 • Supplemental filing for any subsequent corrections ISO-NE OATT Requirements

4. Summary of RNS Rate Change RNS Rate at 6/1/13(a) 2014 Forecast True-ups (b) Load Impact RNS Rate at 6/1/14 ($ / kW-year) $ 85.32 $ 7.89 ($ 0.20) ($ 3.21) $ 89.80 $ 4.48 The primary driver of the 6/1/14 RNS Rate increase is the 2014 forecast. (a) RNS Rate effective 6/1/13 was revised in October 2013 in a Supplemental Filing (b) 6/1/13 Estimated Rate vs. 2013 Actual of $0.76 + 2013 True-up of ($0.96) = ($0.20) Note: The RNS rate above reflects the impact of transmission projects and does not reflect rate reductions associated with 1) Congestion Charges, 2) Daily Reliability Payments and 3) Reliability Must Run Agreements.

5. Annual Transmission Revenue Requirements (“ATRR”)

6. June 1, 2014 RNS Rates Regional Forecast Summary

7. June 1, 2014 RNS Rates Annual True-up Summary

8. Detailed Company Discussions

9. PTO Representatives to discuss the Forecast and Annual True-up CompanyRepresentative CMP: Holley Copeland CTMEEC: Patricia Meek Emera Maine:Andrew McNeally NGRID: Theresa Guleksen & Jack Martin NHT: Steve Garwood NU: Allen Scarfone UI: Alex Boutsioulis VT Transco: Frank Ettori & Hantz Presume

10. Central Maine Power Company 2014 Forecasted PTF Revenue Requirements

11. CTMEEC 2014 Forecasted PTF Revenue Requirements

12. Emera Maine Electric Company 2014 Forecasted PTF Revenue Requirements

13. National Grid 2014 Forecasted PTF Revenue Requirements

14. New Hampshire Transmission 2014 Forecasted PTF Revenue Requirements

15. Northeast Utilities 2014 Forecasted PTF Revenue Requirements

16. Northeast Utilities (Continued) 2014 Forecasted PTF Revenue Requirements

17. Northeast Utilities 2013 True-up Analysis (a) Includes support revenues/expenses, TOUT revenues, taxes and fees and rental revenues.

18. NSTAR 2013 True-up Analysis (a) Includes support revenues/expenses, TOUT revenues, taxes and fees and rental revenues.

19. The United Illuminating Company 2014 Forecasted PTF Revenue Requirements

20. VT Transco LLC 2014 Forecasted PTF Revenue Requirements

21. Questions ?

22. Appendix- Historical RNS Rate Information

23. RNS Rates ($/kW-year)June 1, 1997 – June 1, 2014

24. RNS Rates June 1, 1997 – June 1, 2014 Note: The RNS rates above reflect the impact of transmission projects and do not reflect rate reductions associated with 1) Congestion Charges, 2) Daily Reliability Payments and 3) Reliability Must Run Agreements.

25. PTF Investment History(In Millions of $)

26. PTF Investment History(In Millions of $)

27. RNS ATRR Reconciliation(In Millions of $)