October 2021

2

Project Portfolio

Extensive development and operating experience across multiple regions, markets, and technologies

Smaller generators(< 40 MW) not labeled

3

Selected by NYISO

125 miles 345 kV 2 EHV substations

$750 million investment

Partnership with NYPA

LS Power Transmission

Partnership with NV Energy

239 miles 500/345 kVEHV substation

$500+ million investment

First connection betweennorthern and southern Nevada

Cross Texas Transmission

Selected by PUCT

298 miles 345 kV 4 EHV substations

$600+ million investment

Public Utility in Texas

Silver Run Electric

Selected by MISO

31 miles 345 kV

$58 million investment

Public Utility in Indiana

Selected by PJM

6 miles 230 kVEHV substation

$150+ million investment

LS Power Grid New YorkRepublic Transmission

Selected by CAISO

60 miles 500 kVEHV substation

$200+ million investment

DesertLink

One Nevada Transmission

LS Power Grid California

Selected by CAISO

500 kV transmission2 EHV substations

$144 million investment

4

Backdrop to the Clean Energy Transition Discussion

• Any discussion of the transmission needed for the transition to a clean energyportfolio must include discussion of the staggering increases in transmissioncosts for consumers over the last decade.

• Our divided Congress has not appropriated anywhere near the transmissioninvestment needed to facilitate the clean energy transition. The amount in theproposed Bipartisan Infrastructure Bill for new transmission is far short of whatwill be required for the energy transition.

• MISO estimates the capital cost of the Long Range Transmission Plan to be $30 billionto $100 billion, which could double or even triple the existing MISO transmissionratebase.

• A recent Princeton University Study, Net Zero America, anticipates transmissioninvestment of $530 Billion by 2030 and $2.5 Trillion by 2050

• Competition, with its established track record of achieving 22 percent to 42percent cost savings, is essential to making the clean energy transition cost-effective. FERC can only meet its statutory mandate by requiring that any newtransmission to be built is built using competitive processes.

5

LS Power Views in the FERC ANOPR (Filed Oct 12)

• Clean Energy Future Requires a Transmission Grid that is Regionally andInterregionally Planned

• A National Bright-Line Test Should Be Added.

• Any and All transmission over 100 kV should be Regionally Planned.

• Transmission over 100 kV is regionally beneficial and benefits multiple geographic areas

• This includes: Aging Infrastructure, Reliability, Market Efficiency, Public Policy

• FERC should require minimum transfer capabilities between planning regions

• FERC should establish a national rulemaking to establish the transfer capabilities basedlargely on reliability and public policy

• Transmission must be regionally planned and competed by Independent Entities

• RTOs are preferred

• But if FERC does not mandate RTOs, then the Planning Regions must adhere to a new“Independent System Planner (ISP)” standard.

• State laws aiming at the authority of the Independent System Planner and itscompetition scope should be pre-empted by FERC