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September 5, 2012 1.  Mission - To provide Excellent Service to Our Distribution Members by creating opportunities, cultivating cooperation, and navigating.

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Presentation on theme: "September 5, 2012 1.  Mission - To provide Excellent Service to Our Distribution Members by creating opportunities, cultivating cooperation, and navigating."— Presentation transcript:

1 September 5, 2012 1

2  Mission - To provide Excellent Service to Our Distribution Members by creating opportunities, cultivating cooperation, and navigating industry risks  Headquarters: Amarillo, Texas  Serves:  Full requirement service to sixteen distribution cooperatives (Members)  Members serve 267,000 member consumers & 24% of the geographic area of Texas along with the Oklahoma Panhandle  Member service areas located in Electric Reliability Council of Texas “ERCOT” & Southwestern Power Pool “SPP”  Member Peak 2012 demand -- 1588 MW 2

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4  Customers by Rate Classification  Residential – 56%  Irrigation – 24%  Commercial – 20%  Usage by Rate Classification  Residential – 20%  Irrigation – 34%  Commercial – 46% 4

5 Golden Spread Panhandle Wind Ranch “GSPWR” 78.2 MW Wind Project 34 Siemens wind turbines 2.3 MW Commercial September 2011 Capacity Factor Averaging Over 50% GSEC paid approximately $296k in royalties to land owners in 2011 5

6 6 GSPWR AND MARKET Full ownership + firm transmission = flexibility! Embrace the market and engage in the design process Markets evolve and new rules are created

7  Location: Abernathy, Texas near TUCO Interchange  Equipment: 18 Wartsilla Quick Start Engines (12,500 Hp, 9.35 MW Per Engine)  Total Capacity: 168 MW  Commercial Operation Date: June 2011  Fuel: Natural Gas 7

8 ANTELOPE STATION 8

9  Flexibility!  Zero to 168 MW in 5 to 8 minutes  The markets consider “quick start” resources “on-line” resources  The market decides if the facility will be deployed based on a price curve  The market determines where Antelope will fall in our economic stacking order  The majority of the year this capacity is used to serve load without ever producing a MW of energy  Capacity can be used to displace other higher cost power supply  1/3 of the energy used to serve load in Q4 was purchased from the market  10 mile oversized gas pipeline which can support 6 to 7 hours of run time 9

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11  Location: Denver City, Texas  Equipment: Combined Cycle comprised of two GE 7FA combustion turbines and an Alstom steam turbine.  Equipment: Two additional GE 7FA combustion turbines.  Total Capacity: 480 MW CC + 150 MW SC + 150 MW SC  New Capacity: 3 rd GE 7FA combustion turbine 150 MW SC – March 2013  Commercial Operation Date: CC started operation in 2000 and the SC facilities became operational in 2006 & 2007.  Fuel: Natural Gas 11

12  Mustang Station has access to gas on three different pipelines….flexibility!  CC can serve as base load or intermediate resource  SC facilities are primarily peaking units in the market design and landscape. 12

13  100.8 wind farm project located in Oklahoma  Contract date is January 1, 2013 but could take energy as soon October or November of 2012  Contract duration is 20  Relatively inexpensive over long term  Fuel hedge 13

14  Early phase of $1.8B expansion program  1400 MW of generation and power supply  Considerations:  Time Frame: GSEC’s Vision is delivering cost effective, competitive and reliable power to provide a SECURE energy future today and for generations.  Load characteristics and commitment  Markets – opportunities, protocols, rules and regulations  Fuel Supply  Technology 14

15 15 ERCOT and SPP Rules are similar but offer distinct differences ERCOT Nodal SPP going to new Nodal Day 2 environment in March 2014 Stay engaged

16 16 New transmission could create additional flexibility! Opens delivery Relieves congestion in some areas Directly impacts markets

17  GSEC meets its shaft diversity objective  GSEC is not committed to a single high capital cost resource  GSEC will continue to monitor natural gas environment  GSEC will continue to monitor the Production Tax Credits  GSEC will continue to be an advocate in the market stakeholder design process  Energy outlooks can change on a moments notice but security can remain in tact for generations. Stay engaged and stay flexible while providing a cost effective, reliable, secure future. Challenges can be turned into opportunities. 17

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