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Who is Cross-Sound Cable, LLC?

Cross Sound Cable Interconnector NEPOOL Tariff Committee February 7, 2002 Michael Jacobs Coordinator of Regulatory and ISO Affairs. Who is Cross-Sound Cable, LLC?. Majority owned by TransÉnergie U.S., LTd. US transmission subsidiary of TransÉnergie, the transmission division of Hydro-Québec

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Who is Cross-Sound Cable, LLC?

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  1. Cross Sound Cable InterconnectorNEPOOL Tariff CommitteeFebruary 7, 2002Michael JacobsCoordinator of Regulatory and ISO Affairs

  2. Who is Cross-Sound Cable, LLC? • Majority owned by TransÉnergie U.S., LTd. US transmission subsidiary of TransÉnergie, the transmission division of Hydro-Québec • Fully separate from Hydro-Québec’s generation and power marketing affiliates • Partially owned by United Capital Investments, Inc., an unregulated subsidiary of UIL Holdings Corporation, the parent Corporation of The United Illuminating Company. • Will join NEPOOL as a member

  3. Project Overview • Buried undersea 150 kV HVDC transmission interconnector between New Haven, CT and Shoreham, Long Island. Approximately 330 MW of transfer capability in either direction • Construction begun, power flows to begin Summer 2002 • FERC-approved open season to allocate capacity • Market-driven investment to reduce congestion between LI & NE • FERC-approved negotiated rates (first of its kind) • Rate paid by LIPA, winner of Open Season

  4. FERC Approval of Market-Based Rates • May 31, 2000 – FERC’s statement regarding the approval of TEUS’s merchant transmission project…”To those who doubt our commitment to transmission pricing innovation when regional markets are at issue, this is our answer. We promised that transmission could be a stand alone business. Here it is.” • Blanket authority to charge negotiated rates based on customer’s expectation of locational price differences • Negotiated terms and conditions

  5. FERC Approval of Market-Based Rates • Tradeable Transmission Rights – initially physical • Open Season to allocate rights – zero costs assigned to existing ratepayers • CSC service to “be provided under the RTO's tariff” • OASIS postings and secondary market provisions, including auctions for residual/released capacity • Facility to be operated by an RTO

  6. New Transmission in New England • 18.4 Approval in NE, TPAS in NY • Control by ISO-NE • Capacity release and posting on ISO-NE OASIS • Long and short term releases allowed • Physical service terms to be provided under RTO tariff • Operation of CSC Interconnector under RTO tariff • Scheduling, dispatch, curtailment provisions • Zero costs assigned to existing ratepayers

  7. Including the Cross Sound Cable in the NEPOOL Tariff What options do we have? • Create a new classification • Categorize as PTF with zero costs • Something else

  8. For more information • Our web sites: • CSC www.crosssoundcable.com • TEUS general info www.transenergieus.com • Contact information: • Ray Coxe (508) 870-9900 x106 ray.coxe@transenergieus.com • José Rotger (508) 870-9900 x108 jose.rotger@transenergieus.com • Mike Jacobs (508) 870-9900 x114 Mike.Jacobs@transenergieus.com

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