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## POWER 

## HIGHLIGHTS 

Earnings Increase: $75 million or 91 per cent increase in net earnings before asset sales in 2001 compared to 2000; $43 million or 79 per cent average increase in annual net earnings over the past three years. 

Plant Growth: Added electrical supply totalling more than 650 megawatts (MW) in 2001; added 11 new plants totalling more than 1,500 MW over the past three years. 

Operations Growth: 67 per cent increase in volumes sold in 2001 compared to 2000; 37 per cent average increase in annual volumes sold over the past three years. 

Operational Excellence: 96 per cent average plant availability in 2001; 96 per cent average plant availability over past three years. 

## POWER RESULTS-AT-A-GLANCE 

NIPIGON, KAPUSKASING, TUNIS AND NORTH BAY These efficient, enhanced combined- cycle facilities are fuelled by combina- tion of natural gas and waste heat exhaust from adjacent com- pressor stationson the Canadian Mainline. 

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TransCanada’s Power business contributed $157 million of net earnings in 2001, representing an increase of $75 mil- lion or 91 per cent compared to net earnings before asset sales of $82 million in 2000. This increase is primarily attributable to increased earnings in each of Power’s business lines: 

■ Northeastern U.S. Operations: Increased marketing activities; capitalized on price volatility and market oppor- tunities in 2001; increased ownership to 100 per cent in Ocean State Power (OSP) plant in October 2000; and acquisition of the Curtis Palmer facility in July 2001. 

■ Western Operations: Successfully commenced transactions under the Sundance A power purchase arrangement (PPA); and capitalized on high prices and market volatility, especially in the first half of 2001. 

■ Power LP Investment: Higher average ownership in TransCanada Power, L.P. (Power LP) in 2001 compared to 2000 and strong plant performance. 

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