1. AESO Update to PCC March, 2014

2. 2 AESO March 2014 Update The AESO published its updated long-term plan on Jan 31 st, 2014 –Forecasting 2.4% overall load growth over the planning horizon, 3.5% in the oil sands region –http://www.aeso.ca/downloads/AESO_2013_Long- termTransmissionPlan_Web.pdfhttp://www.aeso.ca/downloads/AESO_2013_Long- termTransmissionPlan_Web.pdf The AESO has selected 5 entities to enter the RFP stage for the 500 kV Fort McMurray West project –Alberta PowerLine – owned by Canadian Utilities Limited and Quanta Capital Solutions Inc. –Athabasca Transmission – owned by AltaLink LP and AEP Transmission Holding Company LLC. –NorSpan Partners LP – owned by EPCOR Utilities Inc. and LS Power Associates LP. –TAMA Transmission LP – owned by MidAmerican Energy Holdings Company and TransAlta. –TransCanada/Elecnor – owned by TransCanada PipeLines Limited and Elecnor S.A. The successful entity will be selected in Dec 2014 with a target in-service date of 2019 for the 500 kV line

3. AESO march 2014 Update Path 1 operational limits increased in January 2014 –Winter import limit increased to 830 MW from 780 MW –Summer limit to be updated during Q2 2014 AESO has received regulatory approval to proceed with a 240 kV double circuit line that will connect to Path 1 via a 500/240 kV substation –Projected in-service date is 2017 –WECC Path Rating process for Path 1will be initiated soon AESO continues to work with BC Hydro on joint studies to identify infrastructure and/or market products required to restore Path 1 to its current WECC Catalog path rating (1200 MW import, 1000 MW export) 3

4. Thank you