HYDRO-QUÉBEC ELECTRICITY: CLEAN, RENEWABLE AND RELIABLE. November 2015

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1 HYDRO-QUÉBEC ELECTRICITY: CLEAN, RENEWABLE AND RELIABLE Update from HQUS November 2015

2 Today s Energy Challenges

3 Global Warming Solutions Act

4 Role of large hydropower: multiple system benefits in a single resource Benefits Market Fundamentals Public Policy New Supply Fuel Diversity Cost Fuel Security Flexible Renewable Clean

5 Hydro Quebec s clean energy exports today TWh TWh Other Markets New England New England exports ( ) accounted for around 40% of annual exports (50% when including the Vermont contract) 12 TWh 5 New York New York exports ( ) accounted for 25-30% of annual 7 TWh 0 Contracts 2 TWh

6 Electricity sales outside Québec QUEBEC Hydroelectric generating stations and reservoirs contribute to electricity market efficiency in northeastern North America Peak power demand period in Québec = winter (for heating needs) Peak power demand period in neighbouring markets = summer (for A/C) ON NY NE MARITIMES ELECTRICITY SALES In Québec TWh Outside Québec* TWh * U.S. markets, Maritimes and Ontario

7 Generation: North America s largest clean energy producer 62 hydroelectric generating stations 27 reservoirs with a combined storage capacity of 176 TWh/year with multi-annual management plan Installed capacity: 36,643 MW High demand at peak periods: Twice a day Winter peak demand (historical peak: 39,240 MW on January 22, 2014) Difference between Québec s peak load (winter) and summer load: 20,000 MW Annual investment: $1.2 billion

8 A robust grid with state-of-the-art technology Planned on a long-term basis and designed to meet power needs in winter The most extensive transmission system in North America System length: 21,240 mi. Number of substations: mi. 15 interconnections with neighboring systems Annual investment: $1.6 billion Detroit (MI) Boston (MA)

9 Recent Hydro-Québec hydroelectric build-out La Grande complex 16,000 MW Eastmain-1, Eastmain-1-A, Sarcelle and Rupert diversion 1,550 MW Romaine complex + 8.7% Toulnustouc Romaine-2 Péribonka 385 MW 526 MW 640 MW

10 Greenhouse gas emissions from different power generation options Hydroelectric - HQ: run-of-river Nuclear 6 8 Continuous generation Intermittent generation Wind 14 Hydroelectric - HQ: with reservoir 17 Boreal Reservoirs = Low GHG Emitters Photovoltaic solar 64 Thermal: natural gas 620 Thermal: coal Source: Hydro-Québec, Environnement et développement durable ; CIRAIG ; Tirado-Seco, 2014 (g CO 2 eq/kwh)

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12 Electricity sales outside Québec Québec annual load: approx 175 TWh Hydroelectric generating stations and reservoirs contribute to electricity market efficiency in northeastern North America Peak power demand period in Québec = winter (for heating MARITIMES needs) ON NY NE Annual electricity sales to markets outside Québec: approx 30 TWh Peak power demand period in neighbouring markets = summer (for A/C)

13 Energy deliveries in winter, on average 1600 MW to New England

14 New England / Hydro-Québec energy partnership Phase II Interconnection Elements for success: HQ agreement to build and fund transmission facilities in Québec US agreement to build and fund transmission facilities in New England Long-term commitments to supply and buy energy Eleven-year contract ( ) Ten-year contract ( ) Today, Phase II delivers MW of hydropower to New England on a regular basis

15 The Northern Pass Transmission project: a solution for today s New England energy challenges RADISSON QUEBEC NEW BRUNSWICK ONTARIO DES CANTONS ME NY VT NH NPT MA

16 Massachusetts draft legislation Legislation authorizing the procurement of hydropower is needed to strengthen the Clean Energy and Transmission RFP Power purchase agreements will promote greater quantities and more beneficial terms Legislation should avoid establishing specific conditions for hydropower procurement Clean energy resources coalition established to advocate for the benefits of utility scale clean energy External large hydro suppliers, internal wind developers, transmission developers