Oil Consumption Per Capita. Global View, 2006

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1 Oil Consumption Per Capita Global View, 2006 Source: BP Statistical Review of World Energy 2006

2 Refinery Utilization Historical Trends by Region Source: BP Statistical Review of World Energy 2006

3 Electricity Generation Terawatt-hours, Terawatt -hours Asia Pacific Europe & Eurasia North America Source: BP Statistical Review of World Energy 2006

4 Natural Gas Production Million Tonnes Oil Equivalent, Million Tonnes Oil Equivalent Asia Pacific Europe & Eurasia North America Source: BP Statistical Review of World Energy 2006

5 World Midyear Population Forecast Billions, Billions World Population Source: Census Bureau

6 U.S. Cumulative Capacity Additions By Fuel Type Nuclear Renewables Natural Gas Coal Source: Energy Information Administration

7 New Oil and Gas Project Investment By Source and Destination, Source of Investment by Company Base Distribution of Investment Rest of the World, 13% OPEC, 7% OPEC, 23% OECD, 80% Rest of the World, 59% OECD, 19% Source: International Energy Agency

8 Renewable Energy Consumption Trend United States, Quadrillion BTU Hydro-Electric Power Biomass Other Source: Energy Information Administration/Monthly Energy Review March 2007

Evolution of World Total Primary Energy Supply By Fuel, 1971-2004 Million Tonnes of Oil Equivalent

9 Evolution of World Total Primary Energy Supply By Fuel, Million Tonnes of Oil Equivalent Coal Hydro Oil Gas Combustible Renewables & Waste Nuclear Other Source: International Energy Agency

10 Cumulative Investment in Energy Infrastructure By Type, Exploration and Development, 56% LNG Chain, 7% Transmission and Distribution, 37% Gas, 19% Biofuels, 1% Coal, 3% Power Generation, 46% Transmission and Distribution, 54% Oil, 21% Electricity, 56% Exploration and Development, 76% Refining, 18% Other, 6% Source: International Energy Agency

11 Fuel Shares of World Total Primary Energy Supply 2004 Oil, 34.30% Gas, 20.90% Nuclear, 6.50% Non-Renew. Waste, 0.20% Coal, 25.10% Renewables, 13.10% Source: International Energy Agency

12 Top 5 Countries in Renewable Fuel Investment By Annual Amounts or Capacity Additions in 2005 Type of Renewable Fuel Annual investment Germany/China Germany/China U.S. Ja pan Spain Wind power U.S. Germany Spain India China Solar PV (grid-connected) Germany Ja pan U.S. Spain France Solar hot water China Turkey Germany India Austria/Greece/ Japan/Australia Ethanol production Brazil/U.S. Brazil/U.S. China Spain/India Spain/India Biodiesel production Germany France Italy U.S. Czech Republic Source: Renewable Energy Policy Network for the 21st Century

13 Growing Global Interest in Renewable Fuel Selected Indicators Investment in new renewable capacity (annual) $30 $38 Billion Renewables power capacity (existing, excl. large hydro) GW Renewables power capacity (existing, incl. large hydro) GW Wind power capacity (existing) GW Grid connected solar PV capacity (existing) GW Solar PV production (annual) MW Solar hot water capacity (existing) GWth Ethanol production (annual) Billion Liters Biodiesel production (annual) Billion Liters Countries with policy targets States/provinces/countries with feed-in policies States/provinces/countries with RPS policies States/provinces/countries with biofuels mandates Source: Renewable Energy Policy Network for the 21st Century

14 Global Nuclear Mindset Status of Commercial Nuclear Power Source: Wikipedia

Nuclear Power Production 1971-2004 Million Tonnes of Oil Equivalent OECD

15 Nuclear Power Production Million Tonnes of Oil Equivalent OECD Former USSR Non-OECD Europe Asia* Other** Source: International Energy Agency

16 Renewable Energy Sources Source: Energy Information Administration

17 Electricity Consumption Source: CIA World Factbook

Existing Wind Power Capacity 1990-2005 Source:

18 Existing Wind Power Capacity Source: Renewable Energy Policy Network for the 21st Century

19 Wind Power Capacity Top Ten Countries Source: Renewable Energy Policy Network for the 21st Century

20 Solar PV Capacity Source: Renewable Energy Policy Network for the 21st Century

21 Renewable Power Capacity 2005 Source: Renewable Energy Policy Network for the 21st Century

World Ethanol Fuel Production 2000-2005 Source:

22 World Ethanol Fuel Production Source: Renewable Energy Policy Network for the 21st Century

23 Major Pipelines Source: EIA, World Press, Global Research

24 Cost and Prices of Power Average Unit Power Generation Cost (Comparison of Different Energy Sources) Cost (US$ cents/kwh) Solar Coal Nuclear Gas Wind Oil Average Residential Power Prices in 2004 (US$ cents/kwh) Japan Italy Germany UK US South Korea India China

25 Historical Prices of Oil, Natural Gas, and Corn WTI ($/bbl) $80 $60 $40 $20 $0 Historical Prices for Oil and Natural Gas Oil Natural Gas YTD $14 $12 $10 $8 $6 $4 $2 $0 Henry Hub ($/MMBTU) Historical Corn Prices $ per bushel $5 $4 $3 $2 $1 Corn $ YTD

26 Energy Transfer Midstream Assets

27 U.S. Natural Gas Systems

28 Who is ITC? ITC and its subsidiaries are in the business of investing in electricity transmission infrastructure improvements as a means to improve electric reliability, reduce congestion and lower the overall cost of delivered energy.

Who Is ITC? Service Territory Map Largest independent transmission company and currently 8 th largest transmission company overall in the U.S. in terms of transmission load served (1) Only publicly traded company engaged exclusively in the transmission of electricity in the U.

29 Who Is ITC? Service Territory Map Largest independent transmission company and currently 8 th largest transmission company overall in the U.S. in terms of transmission load served (1) Only publicly traded company engaged exclusively in the transmission of electricity in the U.S. Rate regulation by the Federal Energy Regulatory Commission ( FERC ) Recently recognized by Crain s Detroit as one of metro Detroit s top 20 fastest growing companies (2) ITC is committed to investing in the electricity transmission grid in an effort to improve reliability, reduce congestion and lower the overall cost of delivered energy (1) Based on transmission load served (annual electric retail sales in the service territory) as found in Edison Electric Institute Profile: Rankings of Shareholder-Owned Electric Companies, May (2) Crain's Detroit Business 2007 Book of Lists, December 25, 2006.

30 Service Territory

ITC Holdings Subsidiary Comparison System Peak Load 12,745 MW 9,469 MW 3,123 MW * Service Area Southeastern Michigan Lower Peninsula of Michigan Iowa,

Interconnections 16 21 Approximately 160 Membership Midwest ISO Midwest ISO Midwest ISO Became ITC Holdings Subsidiary March 1, 2003 October 10, 2006

31 ITC Holdings Subsidiary Comparison System Peak Load 12,745 MW 9,469 MW 3,123 MW * Service Area Southeastern Michigan Lower Peninsula of Michigan Iowa, and portions of Minnesota and Illinois Total Transmission Miles More than 2,700 Approximately 5,400 6,791 Stations Approximately 170 Interconnections Approximately 160 Membership Midwest ISO Midwest ISO Midwest ISO Became ITC Holdings Subsidiary March 1, 2003 October 10, 2006 Definitive agreement signed January 19, 2007; Acquisition closing expected fourth quarter 2007 * Assumes closing of acquisition of Interstate Power and Light Company (IP&L).

32 Improved Maintenance, Efficiency Our maintenance methodology is simple: invest in prevention. When we assumed responsibility for the ITCTransmission system, the backlog was approximately four years behind with some areas being up to 15 years behind. Once the backlog is eliminated, we will remain committed to ongoing preventative maintenance. Activity Breaker Inspections Bus Inspections Relay Complete Periodic Maintenance Tower Inspections Tower Painting Infrared Inspections Transformer DGA Line Clearance / Corridor Mowing 2003* % ,441 1, % ,442 3, % , % * ITCTransmission became a stand-alone transmission company on March 1, 2003, following divestiture from DTE Energy.

33 Reinvestment in the Grid Ten Months C i l E di D i i ITC, through its subsidiaries ITCTransmission and METC, has invested significantly in property, plant and equipment in an effort to improve reliability $41 million $81.5 million $117.8 million $221.5 million* Jewell Spokane Example One time $8 million investment produces energy savings in excess of $60 million annually in Southeast Michigan. * METC acquisition was completed on October 10, This total includes both ITCTransmission and METC capital investments of $171.5 million and $50.0 million, respectively.

34 Improved System Performance Since assuming responsibility for the ITCTransmission system, we have reduced sustained system outages from 44 in our first year to 24 in Average Circuit Outages: Sustained and Momentary (1) Sustained (1) 2006 SGS Transmission Reliability Benchmarking Study: Measures total number of circuit interruptions (momentary or sustained) in a unit time period divided by the number of circuit-years. Momentary Industry Average Top Quartile ITC

35 Result of Underinvestment Rusted cathodic protection device insecurely mounted on a jack stand Breakers coated in rust Cotter pin holding up a shield wire that is ready to give way Vegetation growing into the lines

36 ITC Zone Load During Summer 2006 Peak ITC Zone Load MW ITC Zone Import (IESO, FE, METC) ITC Zone Gen IPP ITC Zone Gen DECO ITC Zone Import (IESO, FE, METC) Total Generation Capacity ITC Zone in Gen SE - IPP Michigan ITC Zone Gen - DECO 0 7/31/06 0:00 7/31/06 4:00 7/31/06 8:00 7/31/06 12:00 7/31/06 16:00 7/31/06 20:00 8/1/06 0:00 8/1/06 4:00 8/1/06 8:00 Time 8/1/06 12:00 8/1/06 16:00 8/1/06 20:00 8/2/06 0:00 8/2/06 4:00 8/2/06 8:00 8/2/06 12:00 8/2/06 16:00 8/2/06 20:00

37 ITC Load Duration Curve 2006 ITC Load Duration Curve 13,000 12,000 11,000 10,000 9,000 M W 8,000 7,000 Points beyond 100% are the minimum demands for the year 6,000 5,000 4,000 Minimum 3,

The Outlook for Energy: A View to 2040

The Outlook for Energy: A View to 2040 Todd Onderdonk United States Association for Energy Economics February 2013 This presentation includes forward-looking statements. Actual future conditions (including