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Class 4 Winds & Renewables Conference

September 5, 2012. Class 4 Winds & Renewables Conference. Mission - To provide Excellent Service to Our Distribution Members by creating opportunities, cultivating cooperation, and navigating industry risks Headquarters : Amarillo, Texas Serves:

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Class 4 Winds & Renewables Conference

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  1. September 5, 2012 Class 4 Winds & RenewablesConference

  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 Golden spread electric cooperative, inc.

  3. Customers by Rate Classification • Residential – 56% • Irrigation – 24% • Commercial – 20% • Usage by Rate Classification • Residential – 20% • Irrigation – 34% • Commercial – 46% Rate classification - 2011

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

  6. 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 Antelope station

  7. ANTELOPE STATION

  8. 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 Antelope and Market

  9. 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: 3rd 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 Mustang station, M4, M5 and coming soon M6

  10. 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. Mustang station, M4, M5 and coming soon M6 - Continued

  11. 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 MINco iii purchased power contract

  12. 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 Forward looking opportunities

  13. 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

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

  15. 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. Strategy based on Markets, Topography and cost

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