statistical report 2012

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Contents

6Letter from the President

8. AES VALUES

AES Dominicana

12. AES Dominicana Background

13. Profile of the Group

14. Power Generations Units

16. Fuel Reception Facilities

19. Energy Balance

20. Capacity Balance

Non Regulated Users

23. Fuel Inventory and Consumption

24. Fuel Imports

25. Operational Indicators

26. Relevant Events

Wholesale Electric Market

30. Brief History of the Dominican Electric Sector

31. Generation

36. Transmission

36. Electricity Distribution

37. Energy Balance

38. Capacity Balance

39. Maximum Demand

40. Energy Supply by Fuel Type

International Fuel Prices

41. Electricity Spot Price

42. Capacity Spot Price and Connection Right

43. Frequency Regulation Service

44. Non Regulated Users Market

45. Contract Market

Annual Statistics

48. Installed Capacity

49. Energy Balance

49. Maximum Demand

50. Electricity Spot Price

51. International Fuel Prices

53. Total System Interruptions 2000-2010

284640 54

Attachments

“A year of sustainable operational advances through process

improvements as AES continues its focus on operational excellence”

Marco De la Rosa

Letter from the President

AES Dominicana is pleased to present its 2010 Statistical Report, which includes: operations perfor-mance, business model by line of business and elec-tric market composition.

The name of AES Dominicana encompasses the companies of Dominican Power Partners (DPP), AES ANDRES, both 100% owned by AES Corporation, and ITABO S.A., of which AES owns 50% of its equity.

We describe year 2010 as a year of sustainable operational advances through process improve-ments as AES continues its focus on operational excellence. In summary, three key points which stood out during 2010 are: Revenue Assurance, Performance Management and Organizational Climate.

During 2010, AES Dominicana maintained a leaders-hip position in the national electricity industry with an average contribution of 39% of all energy that was demanded in the National Interconnected Electric System (SENI).

AES Dominicana has been a key component to the diversification of fuel type composition of electric sector in the Dominican Republic, after introducing natural gas for the generation of electricity and rees-tablishing, in an efficient manner, the production of electricity using mineral coal, both fuels have beco-me the most competitive and resourceful of all those used in the local market.

As you may realize, AES Dominicana has been able to convert opportunities into success stories, exer-cising a leadership role in the electric power sector and becoming an engine for development of the Dominican Republic.

Marco De la Rosa AES Dominicana president

What does this mean?Put Safety First: We will always put safety first for our people, contractors and communities.

Act with Integrity: We are honest, trustworthy and dependable. Integrity is at the core of all we do, how we conduct ourselves and how we interact with one another and all of our stakeholders.

Honor Commitments: We honor our commitments to our customers, teammates, communities, owners, suppliers and partners, and we want our businesses on the whole, to make a positive contribution to society.

Strive for Excellence: We strive to be the best in all that we do and to perform at world-class levels.

Have Fun through Work: We work because work can be fun, fulfilling and exciting. We enjoy our work and appreciate the fun of being part of a team that is making a difference.

The AES people• Put Safety First• Act with Integrity• Honor Commitments• Strive for Excellence• Have Fun through Work

AES Values

AES Dominicana

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Statistical Report 2010

1 AESDOMINICANA

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AES Dominicana Background AES invested for the first time in the Dominican Republic in 1997 when, within the context of a merger that involved the Destec companies and NGC, AES decided to acquire from NGC inter-national assets owned by Destec, which included DPP and other related companies. DPP is the owner of the generation units of Los Mina V and Los Mina VI, two open cycle gas turbines of 118 MW each, which are described below in this report.

From May of 1996 until August of 2001, DPP operated under the Independent Private Producer scheme, selling all of its production to La Corporación Dominicana de Electricidad (CDE). Then, after an agreement between DPP and CDE, the contract between both parties was cancelled and a new electricity sale arrangement was established between DPP and EDEESTE, which included a back-up contract with the CDE.

In the year 2000 AES confirmed its commitment to the long term development of the Dominican Republic by constructing AES ANDRES. The project included a combined cycle with 319 MW, a liquefied natural gas terminal and a gas pipeline towards the DPP power station.

In December of 2000, AES takes another important step, when it acquires the assets of GENER, obtaining a participation of 25% in the ITABO power plant.

Since May 1st, 2003, Dominican Power Partners operates to supply its electricity sale contract with EDEESTE, selling its excess generation and buying what it needs on the spot market.

In the year 2003, AES ANDRES began its operations becoming the most efficient power station of Latin America and representing a jump towards sustainable development for the country using clean energy. At this time, it improved the strategic position of the country that formerly depended 90% on petroleum derivatives to supply its electricity needs.

In the year 2006, AES Dominicana acquires another 25% of the ITABO equity, which were property of El Paso. Then AES becomes the owner of the 50% of ITABO’s equity and therefore takes the control of the operative and administrative areas.

Profile of the GroupAES began operations in the Dominican Republic with the intent to provide value to the national energy market and contribute to the development of the communities where it serves.

Today, AES Dominicana is positioned as the principal investment group in the Dominican electric sector, with modern facilities for energy production and with the most competitive fuels for power generation in the national electric sector.

AES Dominicana has two deep-sea port infrastructures; Itabo’s International Pier, to download the coal used for electricity production and AES Andres’ International Pier, to download the liquefied natural gas used for electricity production. It also has, in its AES Andres’ facilities, the first terminal intended for the distribution of liquefied natural gas in specialized trucks.

As a business group, AES Dominicana combines a global perspective with deep local knowledge and a relentless commitment to operational excellence. There has been a consistent pattern of improvement year after year in generation and efficiency. AES serves as a model to the rest of the players in the electric sector, by displaying the best practices of corporate governance within the electric industry in the Dominican Republic.

AES Dominicana supports the growth of its business by standing upon a strong foundation composed of its code of conduct, corporate social responsibility, environmental care and its people, which are the most valuable resources.

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Power Generations UnitsTechnical details of AES Dominicana power generation units.

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AES ANDRES

ITABO I

DPP

ITABO II

Installed Capacity: 319 MWTechnology: Combined CyclePrimary Fuel: Liquid Natural Gas (LNG)Commercial Operation Date: December 2nd, 2003Gas Turbine Manufacturer: MitsubishiGas Turbine Capacity: 198 MWGas Turbine Speed: 3,600 rpmInlet Heat Recovery Steam Generator Temperature: 610 ºCGas Turbine Generator Manufacturer: MitsubishiGas Turbine Generator Nominal Capacity: 218.5 MVAGas Turbine Generator Nominal Voltage: 18 kVGas Turbine Generator Cooling System: AirSteam Turbine Manufacturer: HitachiSteam Turbine Capacity: 121 MWSteam Turbine Speed: 3,600 rpmSteam Pressure: 124 kg/cm² Steam Temperature: 568 ºCSteam Turbine Generator Manufacturer: SiemensSteam Turbine Generator Nominal Capacity: 134 MVASteam Turbine Generator Nominal Voltage: 13.8 kVSteam Turbine Generator Cooling System: AirAdvantages: Low Environmental Impact and More Energetic Efficiency

Installed Capacity: 2 x 118 MWTechnology: Gas TurbinePrimary Fuel: Liquid Natural Gas (LNG)Commercial Operation Date: 19 de mayo del 1996Manufacturer: WestinghouseTurbine Speed: 3,600 rpmTurbine Stages: Four (4)Compressor Stages: Fourteen (14)Outlet Gas Temperature: 630 ºCGenerator Nominal Capacity: 2 x 142 MVAGenerator Nominal Voltage: 13.8 kVGenerator Speed: 3,600 rpmGenerator Cooling System: AirAdvantages: Fast Manufacture and Installation and Low Environmental Impact

Installed Capacity: 128 MWTechnology: Steam TurbinePrimary Fuel: Mineral CoalSecondary Fuel: Fuel Oil 6Tertiary Fuel: Fuel Oil 2Commercial Operation Date: July 17th, 1984Turbine Manufacturer: Brown Bovery CompanyTurbine Speed: 3,600 rpmSteam Pressure: 141 kg/cm²Steam Temperature: 535 ºCGenerator Manufacturer: Foster WheelerGenerator Nominal Capacity: 150.6 MVAGenerator Nominal Voltage: 13.8 kVGenerator Cooling System: HydrogenAdvantages: Provides Economic Base Electricity Generation

Installed Capacity: 132 MWTechnology: Steam TurbinePrimary Fuel: Mineral CoalSecondary Fuel: Fuel Oil 6Tertiary Fuel: Fuel Oil 2Commercial Operation Date: Mayo 10th, 1988Turbine Manufacturer: General ElectricTurbine Speed: 3,600 rpm

Steam Pressure: 146 kg/cm²Steam Temperature: 540 ºCGenerator Manufacturer: General ElectricGenerator Nominal Capacity: 155.3 MVAGenerator Nominal Voltage: 13.8 kVGenerator Cooling System: HydrogenAdvantages: Provides Economic Base Electricity Generation

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In addition to the LNG Terminal, a natural gas pipeline was built in order to supply natural gas to the DPP power units, improving its efficiency and competitiveness.

Technical Details:Length: 34 kmPipe Diameter: 12 inchesMax Pressure: 100 barAverage Pressure: 50 barControl Valves Station: Eight (8)

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Fuel Reception FacilitiesAES ANDRES Power Station is located at the Boca Chica community, just fifteen (15) minutes from Santo Domingo. The power station has a pier and a terminal for liquid natural gas unloading and it also has the capacity to receive other liquid fuels.

Inside the facility, the terminal has an unloading ship system that consists of three (3) arms with an unloading capacity of 10,000 m3 per hour. It also has a double wall cryogenic tank with the capacity to store 160,000 m3. In addition the terminal has a re-gasification system with the capacity to convert 250,000 MMBTU per day. Finally, it has a boil-off security system to handle the gases of the cryogenic tank in order to keep the atmospheric pressure.

AES ANDRES’s International

Pier

AES ANDRES– DPP Natural Gas Pipeline

AES ITABO International

Pier

The International Pier of AES ITABO, is located in the coastal area of the AES ITABO power plant. The geographical coordinates are: Kilometer 18 of the Sanchez Highway in the municipality of Bajos de Haina in the province of San Cristobal. The pier is located next to the western port of Haina (Latitude 18 º 40’ 29” N; Longitude 70º 02’ 5” W), approximately 8 kilometers southwest of Santo Domingo’s western quadrant. The pier is limited to the north by a neighborhood known as “El Gringo”, to the south by the country’s major oil refinery, to the east by the Caribbean Sea and to the West by a neighborhood known as “El Caliche”.

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Since the year 2006, the AES ITABO International pier has been operating a reception point for mineral coal, which is utilized in the vapor units of AES ITABO, adding a greater degree of auto-nomy to the process and improved costs efficiencies in transportation costs of coal to the plant.

The pier’s shape drives it into the sea with a total length of 535 metros. The pier has a system to transport solids with capacity to load and unload bulk products. In addition, it has a mooring system with six (6) dukes, four of which serve for the ship’s arrival and two serve for the ship’s engagement to the pier. The pier also has a signal system for the approaching vessels which are located in two towers with adjacent lamps, in the water lighting tracks and duke lighting systems as well.

Main Characteristics:

• Fourteen (14) meters depth: Enables the docking of vessels like Handymax (45,000 mt) and Panamax (65,000 mt).

• Auto-discharging vessels required.• Discharge Capacity of 1,200 metric tones per hour.

New Lines of BusinessIn the year 2005, AES ANDRES signed its first natural gas supply agreement with LINEA CLAVE. This local distribution company is responsible for distributing re-gasified natural gas by trucks. The natural gas supply to Linea Clave initiated in 2007.

LINEA CLAVE has its station next to AES ANDRES power station. There, the natural gas is compressed to high pressures and stored in special containers. Then, it is transported by trucks to its final destination.

Once again AES Dominicana marks the direction of the electric sector in the Dominican Republic, this time by constructing the first distribution terminal of liquid natural gas not in the Dominican Republic, being it also the first in the region. This factor adds value to the overall strategy of contribute to the evolution of the national energy matrix by migrating to lower cost fuels as is the case of natural gas, which has become the most important contributor to reach this objective.

The loading station is located inside the AES ANDRES LNG terminal at Punta Caucedo and inclu-des two areas for the reception of trucks, each with a filling valve. It has a capacity to simulta-neously load two 45 cubic meter trucks at a loading rate of 68 cubic meters per hour per truck. The space is designed for the construction of two additional reception areas in the future.

AES Dominicana continues its commercial relationships with different local distributors which are responsible for the physical distribution of LNG throughout the country. These are: LINEA CLAVE, SOLUCIONES DE GAS NATURAL, PLATER GAS, PROPAGAS y TROPIGAS.

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Energy BalanceThe table below details the monthly balance of the AES Dominicana companies for the year 2010, which covers energy production, energy purchase and energy sales either through contracts or through spot market transactions.

Re-gasified Natural Gas

Sale Business

Liquid Natural Gas Sale Business

AES ANDRES

AES Dominican Republic Energy Balance 2010[GWh]

AES ANDRES JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2010CONTRACT SALESEDENORTE 22.3 17.7 30.5 29.5 30.5 10.1 10.4 10.4 34.2 35.3 34.2 35.3 300.6 EDEESTE 23.4 21.3 25.1 25.3 27.3 25.7 27.1 28.4 26.2 26.9 23.8 24.2 304.8 EDESUR - 3.5 30.2 28.5 29.6 12.0 12.5 12.5 32.9 34.1 32.9 32.4 261.3 DPP 52.6 31.9 9.9 17.6 19.0 44.9 4.5 2.4 5.3 1.5 12.0 3.9 205.5 ITABO 8.2 29.0 7.7 6.7 3.0 7.4 60.0 63.9 18.1 7.7 5.4 6.2 223.2 SEABOARD 1.2 1.3 2.1 2.3 2.6 3.1 3.3 3.2 2.9 2.9 2.8 2.8 30.3 UNR 32.7 37.1 41.8 39.3 42.3 41.6 44.8 45.8 48.3 49.4 49.6 43.7 516.4 CONTRACT PURCHASESITABO 0.5 - 8.1 1.9 0.7 1.7 - - 0.1 0.2 1.8 2.6 17.6 SPOT SALES/(SPOT PURCHASES) 40.6 33.8 3.8 33.7 30.9 33.3 20.1 21.3 (0.7) 30.4 10.3 13.1 270.6 ANDRES PRODUCTION 180.5 175.7 143.0 181.2 184.4 176.4 182.7 187.9 167.1 188.1 169.2 159.0 2,095.1 AES ITABOCONTRACT SALESEDESUR 59.9 56.3 63.7 63.7 68.1 64.0 69.1 70.7 66.9 69.3 62.7 62.4 776.8 EDENORTE 41.9 39.0 44.2 43.9 47.3 46.5 50.3 50.9 48.2 50.1 43.0 44.7 550.2 EDEESTE 23.4 21.3 25.1 25.3 27.3 25.7 27.1 28.4 26.2 26.9 23.8 24.2 304.8 CDEEE 35.3 24.3 18.8 29.4 39.8 37.2 41.1 37.8 36.5 37.9 40.3 44.2 422.5 ANDRES 0.5 - 8.1 1.9 0.7 1.7 - - 0.1 0.2 1.8 2.6 17.6 UNR 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.2 0.2 0.2 0.2 2.8 CONTRACT PURCHASESANDRES 8.2 29.0 7.7 6.7 3.0 7.4 60.0 63.9 18.1 7.7 5.4 6.2 223.2 MONTERIO 9.7 20.3 6.5 12.0 16.1 18.9 19.2 23.1 21.1 9.7 6.6 5.8 169.0 FALCONDO 35.3 24.3 18.8 29.4 39.8 37.1 41.1 37.8 36.5 37.9 40.3 44.2 422.4 SPOT SALES/(SPOT PURCHASES) 28.9 30.0 22.4 14.6 9.3 3.9 (8.6) (7.6) (12.4) 9.8 8.8 9.7 108.8 ITABO PRODUCTION 136.7 97.6 149.6 130.8 134.0 116.0 58.9 55.7 90.1 139.2 128.3 131.8 1,368.7

DPPCONTRACT SALESEDEESTE 98.2 89.6 105.6 106.3 114.6 108.0 113.6 119.1 110.0 113.0 100.2 101.8 1,280.0 CONTRACT PURCHASESANDRES 52.6 31.9 9.9 17.6 19.0 44.9 4.5 2.4 5.3 1.5 12.0 3.9 205.5 SPOT SALES/(SPOT PURCHASES) 0.0 0.0 16.9 11.7 7.9 2.1 10.1 11.1 11.3 15.2 15.0 22.9 124.2 DPP PRODUCTION 45.6 57.7 112.6 100.3 103.5 65.2 119.3 127.8 116.0 126.6 103.2 120.8 1,198.7

Below we will mention the most relevant aspects that we consider occurred in the Electricity Wholesale Market between AES Dominicana and some agents in the market.

In the month of February, a new short term contract was signed with EdeSur to sell electricity, and the contract with EdeNorte was continued. In addition, an important increase in Non Regulated User sales occurred during the year. AES Andres experienced its peak historic annual generation of (2,095.1 GWh).

During the year 2010, the contract to sell energy to CDEEE through the units of Falcondo remai-ned intact, in an effort to increase the generation of the Northern portion of the country. The energy transactions with the units of Falcondo are administered in the electric Wholesale market by AES Itabo. In addition, the back-up contracts with AES Andres and Monterio were also upheld.

AES ITABO

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The contract whereby DPP sells electricity to EdeEste was upheld. Likewise, DPP also maintains a back-up contract with AES Andres. During the year 2010, a reduction in the purchases of elec-tricity from AES Andres can be observed, at times in which DPP becomes a base operating power plant. In the year 2010, DPP has a historic peak generation based on natural gas of (1,198.7 GWh).

Capacity BalanceThe following table shows the capacity balance of AES Dominicana’s power stations during 2010, indicating the firm capacity assigned during each month, the purchase and sale of contracted capacity and the spot balance.

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AES Dominican Republic Capacity Balance 2010[MW]

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2010AES ANDRESContract Capacity Sales 282.55 283.98 284.21 284.40 286.13 286.23 287.40 290.69 294.13 292.94 296.65 294.01 288.61 Firm Capacity 247.72 241.35 248.75 246.67 239.75 239.40 239.58 240.15 241.77 254.02 240.43 242.85 243.54 Contract Capacity Purchase - - - - - - - - - - - - - Spot Sale / (Spot Purchase) (34.83) (42.63) (35.46) (37.73) (46.38) (46.83) (47.82) (50.54) (52.36) (38.92) (56.23) (51.17) (45.07)

AES ITABOContract Capacity Sales 250.15 250.15 250.15 250.15 250.15 250.15 250.15 250.15 250.15 250.15 250.15 250.15 250.15 Firm Capacity 225.87 225.86 225.84 225.86 225.86 225.86 225.86 225.86 225.84 225.84 225.85 225.86 225.86 Contract Capacity Purchase - - - - - - - - - - - - - Spot Sale / (Spot Purchase) (24.28) (24.29) (24.31) (24.29) (24.29) (24.29) (24.29) (24.29) (24.31) (24.31) (24.30) (24.29) (24.30)

DPPContract Capacity Sales 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 Firm Capacity 22.58 21.99 22.67 22.48 21.84 21.81 21.83 21.88 22.02 23.27 22.48 22.76 22.30 Contract Capacity Purchase (187.42) 188.01) 187.33) (187.52) (188.16) (188.19) (188.17) (188.12) (187.98) (186.73) (187.52) 187.24) (187.70)Spot Sale / (Spot Purchase) - - - - - - - - - - - - -

Non Regulated UsersAES ANDRES continues strengthening its position in the Non-Regulated Users Market, with the support of a strategy based on competitive prices and quality services as aggregate value to the offering. AES Andres’s portfolio of energy distribution has been further diversified and collec-tions of this segment has met target. The Commercial and Operations areas have further specia-lized their services with the focus of providing its customers with the required service levels.

During the year 2010, (19) new contractual relationships were developed. These are: ALAMBRES DOMINICANOS, ARTICULOS DE PIEL, CARIBEAN INDUSTRIAL PARK, CESAR IGLESIAS, ENVASES ANTILLANOS, HIELOS NACIONALES, INDUVECA, LA FABRIL, LM INDUSTRIES, MULTICENTRO CHURCHILL, MULTIQUIMICA, OCEAN WORLD, PISANO, REFIDOMSA, SANITARIOS DOMINICANOS, TROQUEDOM, ZONA FRANCA LA VEGA, ZONA FRANCA SAN PEDRO DE MACORIS, ZONA FRANCA SANTIAGO all of which represent a monthly consumption of approxi-mately 21 GWh. During the same period we also renewed the contracts with AERODOM BOCA CHICA, CORAL COSTA CARIBE, CORAL HAMACA, LADOM, LISTIN DIARIO, GRUPO MALLA, MULTICENTRO CHARLES DE GAULLE, MULTIFORM, PLASTIFAR, who already belonged to the portfolio of the AES ANDRES. Two Non Regulated Users continue their relationship with AES ANDRES.

Towards the end of December 2010, the NRU portfolio of AES Dominicana consisted of 39 clients, which represent a 52.5% market share of the NRU market.

The following table shows AES ANDRES’s and AES ITABO’s non-regulated users’s consumption during 2010.

DEMANDA ENERGIA UNR AES DOMINICANA 2010(GWh)

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

AES ANDRESALDOM 0.26 0.25 0.32 0.30 0.16 0.03 0.03ZF MULTIMODAL CAUCEDO

1.33 1.20 1.40 1.42 1.47 1.52 1.69 1.57 1.49 1.56 1.44

ZF LAS AMERICAS 3.30 3.80 4.13 3.68 3.76 3.45 3.22 3.25 3.24 3.31 3.16 2.48BARCELÓ CAPELLA 0.57 0.54 0.61 0.62 0.66 0.65 0.69 0.58 0.50 0.45 0.50 0.55INCA - KM 22 2.23 2.37 2.30 2.35 2.77 2.31 2.72 0.94 2.46 2.73 2.55 2.91TERMO ENVASES 1.14 1.10 1.09 1.16 1.25 1.10 1.38 1.20 1.26 1.43 1.26 1.34INCA - LA ISABELA 1.41 1.48 1.65 1.26 1.26 1.56 1.48 1.31 1.38 1.45 1.48 1.11LAFZID (PIISA) 4.85 5.30 6.13 5.53 6.20 6.15 6.42 6.55 6.16 6.65 6.19 5.77ZF SAN ISIDRO 2.34 2.64 3.08 2.90 3.06 3.09 3.24 3.31 3.22 3.18 3.09 2.45MOLINOS DEL OZAMA 0.97 1.07 1.21 1.26 1.19 1.37 1.20 1.55 1.54 1.25 1.35 1.42HOTEL JARAGUA 0.90 0.93 1.07 0.99 1.00 1.00 1.02 1.07 1.03 1.04 0.91 0.90MULTIFORM 0.26 0.29 0.34 0.34 0.38 0.41 0.47 0.35 0.36 0.40 0.39 0.32LADOM 0.51 0.46 0.56 0.55 0.51 0.24 0.10 0.26 0.52 0.29 0.18 0.15PLASTIFAR 1.00 1.27 1.55 1.29 1.55 1.48 1.63 1.69 1.56 1.62 1.74 1.58MALLA & CO. 1.12 1.14 1.28 1.23 1.11 1.20 1.06 1.27 1.33 1.32 1.28 0.99HAMACA BEACH RESORT 0.75 0.73 0.78 0.73 0.77 0.81 0.90 0.88 0.69 0.70 0.65 0.66MC CHARLES 0.73 0.69 0.73 0.72 0.76 0.74 0.78 0.80 0.75 0.74 0.70 0.69INVERSIONES COSTA CARIBE

0.55 0.53 0.61 0.56 0.55 0.55 0.64 0.69 0.50 0.58 0.47 0.46

LISTÍN DIARIO 0.50 0.52 0.61 0.58 0.62 0.58 0.60 0.62 0.56 0.57 0.56 0.51CARREFOUR 0.74 0.65 0.70 0.68 0.72 0.73 0.77 0.75 0.76 0.77 0.69 0.68AERODOM 2.80 2.66 2.79 2.95 3.12 2.99 3.35 3.44 3.32 3.29 2.98 2.94ZF SPM 2.07 2.41 2.77 2.59 2.75 2.60 2.67 2.84 2.68 2.66 2.45 1.80MULTIQUIMICA 1.11 1.28 1.43 1.31 1.38 1.46 1.52 1.42 1.52 1.59 1.46 1.26TROQUEDOM 0.50 0.57 0.66 0.54 0.54 0.52 0.53 0.43 0.41 0.42 0.43 0.40LA FABRIL 0.42 0.50 0.49 0.45 0.42 0.44 0.47 0.47 0.40 0.50 0.33 0.41ENVASES ANTILLANOS 0.32 0.30 0.36 0.33 0.35 0.38 0.44 0.39 0.33 0.42 0.41 0.34HIELOS NACIONALES II 0.82 0.83 0.89 0.98 1.10 1.02 1.19 0.95 0.88 0.81 0.80INDUVECA 1.26 1.42 1.39 1.41 1.56 1.66 1.62 1.54 1.60 1.41 1.42ARTICULOS DE PIEL 0.28 0.32 0.32 0.31 0.32 0.36 0.32 0.36 0.35 0.33 0.34REFIDOMSA 0.58 0.35 0.24 0.12 0.28 0.29 0.34 0.29 0.21 0.57CESAR IGLESIAS 1.03 1.18 1.14 1.18 1.04 1.17 1.31 1.40ZF PISANO 0.99 1.02 0.98 0.99 1.04 0.72LM INDUSTRIES 0.40 0.38 0.39 0.38 0.35 0.24ALAMBRES DOMINICANOS

0.60 0.63 0.61 0.63 0.60

ZF LA VEGA 0.96 0.92 1.00 0.99 0.70SADOSA 0.57 0.59 0.63 0.54 0.54CARIBBEAN INDUSTRIAL PARK

1.38 1.39 1.25 0.75

MULTICENTRO CHURCHILL

1.25 1.22 1.11 1.08

OCEAN WORLD 0.51 0.51ZF INDUSTRIAL SANTIAGO 2.48 1.86TOTAL 32.66 37.06 41.78 39.25 42.29 41.64 44.84 45.78 48.34 49.43 49.65 43.68

AES ITABOQUITPE 0.19 0.18 0.23 0.30 0.25 0.24 0.15 0.14 0.23 0.24 0.21 0.23TOTAL 0.19 0.18 0.23 0.30 0.25 0.24 0.15 0.14 0.23 0.24 0.21 0.23

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The next chart shows the average demand of AES’s non-regulated users during 2010.

Fuel Inventory and ConsumptionDuring the year 2010, AES ANDRES and DPP consumed a total of 30,645,743 MMBTU of natural gas and 32,545,257 MMBTU of gas natural was purchased.

The table below shows a detail of the evolution of the inventory, the purchases, the consump-tions and the sales to third parties.

GWh

NATURAL GAS INVENTORY AND CONSUMPTIONS 2010[MMBTU]

AES ANDRES Y DPP JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Beginning Inventory 1,635,577 2,562,130 468,849 869,956 1,159,766 1,274,443 1,893,337 1,923,696 1,787,439 1,853,156 1,723,506 1,882,209

Purchases 2,938,333 - 2,914,668 2,991,779 2,873,413 2,855,883 3,000,190 2,987,169 2,931,498 3,089,249 2,956,452 3,006,623 32,545,257

ANDRES Consumptions

1,386,872 1,342,327 1,089,240 1,377,089 1,401,995 1,338,371 1,397,538 1,429,847 1,281,470 1,435,875 1,320,423 1,254,591 16,055,638

DPP Consumptions 545,281 682,026 1,335,610 1,201,482 1,254,209 791,159 1,444,490 1,535,440 1,398,615 1,514,659 1,243,734 1,444,809 14,391,513

BOG Consumptions 19,394 13,748 14,741 15,780 18,694 18,480 16,406 19,036 9,148 16,677 16,651 19,836 198,592

Third Partie Sales 51,774 55,180 52,147 59,601 71,201 79,997 90,220 102,917 144,610 211,889 191,009 195,795 1,306,341

Losses 8,459 - 21,823 48,017 12,638 8,983 21,175 36,187 31,938 39,799 25,931 35,567 290,517

Final Inventory 2,562,130 468,849 869,956 1,159,766 1,274,443 1,893,337 1,923,696 1,787,439 1,853,156 1,723,506 1,882,209 1,938,234

AES DOMINICAN REPUBLIC NRU AVERAGE DEMAND 2010

Natural Gas

During the year 2010, AES ITABO with its two thermal units run on coal registered a consump-tion of 559,263 metric tons of coal and 9,932 metric tons of petcoke.

The table below shows the monthly evolution of the inventories and the consumptions of both coal and petcoke.

Coal

COAL INVENTORY AND CONSUMPTIONS 2010[toneladas métricas]

AES ITABO JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Beginning Inventory 75,677 18,331 87,196 63,032 90,627 72,176 71,854 83,423 104,269 65,745 56,311 74,623

Purchases - 118,293 36,750 82,682 36,883 47,861 36,908 44,715 - 51,966 73,900 37,006 566,964

Consumptions 50,620 39,452 60,915 52,818 54,258 48,184 25,338 23,869 38,523 58,091 52,396 54,799 559,263

Third Partie Sales - - - - - - - - - - - - -

Losses 6,726 9,977 - 2,268 1,076 - - - - 3,310 3,191 7,355 33,902

Final Inventory 18,331 87,196 63,032 90,627 72,176 71,854 83,423 104,269 65,745 56,311 74,623 49,476

Subtotal Consumo 57,346 49,428 60,915 55,086 55,334 48,184 25,338 23,869 38,523 61,401 55,587 62,154 593,165

PETCOKE INVENTORY AND CONSUMPTIONS 2010[toneladas métricas]

AES ITABO JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Beginning Inventory 13,837 7,895 5,519 5,349 5,349 5,349 5,126 4,943 4,739 4,674 4,674 4,674

Purchases -

Consumptions 5,942 2,376 170 - - 222 183 204 65 - - 768 9,932

Third Partie Sales - - - - - - - - - - - - -

Losses - - - - - - - - - - - - -

Final Inventory 7,895 5,519 5,349 5,349 5,349 5,126 4,943 4,739 4,674 4,674 4,674 3,905

Subtotal Consumo 5,942 2,376 170 - - 222 183 204 65 - - 768 9,932

Total Consumo 63,288 51,804 61,085 55,086 55,334 48,406 25,522 24,073 38,589 61,401 55,587 62,923 569,194

During the year 2010, AES ITABO purchased 566,964 metric tons of coal from various providers.

AES

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5.99

ALDOM

QUITPE

REFIDOMSA

ARTICULOS DE PIEL

LM INDUSTRIES

MULTIFORM

LADOM

ENVASES ANTILLANOS

LA FABRIL

TROQUEDOM

OCEAN WORLD

INVERSIONES COSTA CARIBE

LISTÍN DIARIO

SADOSA

BARCELÓ CAPELLA

ALAMBRES DOMINICANOS

CARREFOUR

MC CHARLES

HAMACA BEACH RESORT

ZF LA VEGA

HIELOS NACIONALES II

ZF PISANO

HOTEL JARAGUA

MULTICENTRO CHURCHILL

CESAR IGLESIAS

CARIBBEAN INDUSTRIAL PARK

MALLA & CO.

TERMO ENVASES

MOLINOS DEL OZAMA

MULTIQUIMICA

INCA - LA ISABELA

ZF MULTIMODAL CAUCEDO

INDUVECA

PLASTIFAR

ZF INDUSTRIAL SANTIAGO

INCA - KM 22

ZF SPM

ZF SAN ISIDRO

AERODOM

ZF LAS AMERICAS

LAFZID (PIISA)

0.00 1.00 2.00 3.00 4.00 5.00 6.00

3.40

2.17

2.39

2.52

2.97

3.05

0.91

0.93

0.96

0.99

1.17

1.18

1.19

1.20

1.22

1.28

1.39

1.40

1.46

1.48

1.50

0.19

0.22

0.33

0.33

0.36

0.36

0.36

0.36

0.44

0.50

0.51

0.56

0.57

0.58

0.58

0.61

0.72

0.73

0.75

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Fuel ImportsDuring the year 2010, the AES ANDRES terminal received eleven (11) vessels for a total of 32,545,257 MMBTU, equivalent to 1,466,003 M3 of liquid Natural Gas. Below is a table with the appropriate level of detail.

Natural Gas

Coal

AES ANDRES NATURAL GAS IMPORTS 2010

No. Date Supplier Vessel Discharge Port MMBTU M31 January 23, 2010 BPGM BRITISH TRADER AES ANDRES 2,938,333 132,357 2 March 1, 2010 BPGM BRITISH MERCHANT AES ANDRES 2,914,668 131,291 3 April 6, 2010 BPGM BRITISH TRADER AES ANDRES 2,991,779 134,765 4 May 8, 2010 BPGM LNG EBISU AES ANDRES 2,873,413 129,433 5 June 13, 2010 BPGM METHANE KARI ELIN AES ANDRES 2,855,883 128,643 6 July 16, 2010 BPGM BRITISH RUBY AES ANDRES 3,000,190 135,144 7 August 15, 2010 BPGM BRITISH TRADER AES ANDRES 2,987,169 134,557 8 September 16, 2010 BPGM ARCTIC DISCOVERER AES ANDRES 2,931,498 132,049 9 October 13, 2010 BPGM BRITISH EMERALD AES ANDRES 3,089,249 139,155 10 November 16, 2010 BPGM BRITISH MERCHANT AES ANDRES 2,956,452 133,174 11 December 14, 2010 BPGM BRITISH MERCHANT AES ANDRES 3,006,623 135,433

32,545,257 1,466,003

AES ITABO COAL IMPORTS 2010

No. Date Supplier Vessel Discharge Port Metric Tons MMBTU1 February 2, 2010 BULKTRADING CSL METIS ITABO 56,309 1,407,725 2 February 15, 2010 GLENCORE INTERNATIONAL CSL METIS ITABO 55,981 1,399,522 3 February 11, 2010 BULKTRADING MACONDO HAINA 6,003 150,075 4 March 25, 2010 INTERAMERICAN COAL ANTWERPEN ITABO 36,750 918,750 5 April 6, 2010 INTERAMERICAN COAL ANTWERPEN ITABO 36,916 922,897 6 April 20, 2010 GLENCORE INTERNATIONAL BALDER ITABO 45,766 1,144,148 7 May 15, 2010 INTERAMERICAN COAL ANTWERPEN ITABO 36,883 922,066 8 June 10, 2010 SHELTON TRADING BALDER ITABO 47,861 1,196,527 9 July 5, 2010 INTERAMERICAN COAL ANTWERPEN ITABO 36,908 922,699 10 August 17, 2010 BULKTRADING SHEILA ANN ITABO 44,715 1,117,865 11 October 15, 2010 GLENCORE INTERNATIONAL CSL SPIRIT ITABO 51,966 1,299,161 12 November 9, 2010 INTERAMERICAN COAL ANTWERPEN ITABO 36,859 921,471 13 November 19, 2010 INTERAMERICAN COAL ANTWERPEN ITABO 37,041 926,022 14 December 10, 2010 GLENCORE INTERNATIONAL BARKALD ITABO 37,006 925,162

566,964 14,174,089

During the year 2010, AES ITABO received a total of fourteen (14) vessels of coal, thirteen (13) of which were received through the International pier of AES ITABO and one (1) through the port of HAINA. These vessels combined represented a total of 566,964 metric tons. Below is a table with the appropriate level of detail.

Operational IndicatorsThe following table shows the operational indicators and operation rates of power units applied to AES ANDRES, AES ITABO and DPP.

AES DOMINICAN REPUBLIC OPERATIVE INDICATORS 2010

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2010EAF [%]ANDRES 100.0% 100.0% 74.3% 100.0% 99.9% 97.2% 100.0% 99.4% 91.3% 99.3% 97.6% 89.3% 95.7%ITABO 1 84.1% 97.9% 87.2% 95.0% 82.6% 92.6% 73.1% 61.3% 31.9% 64.8% 67.7% 69.1% 75.6%ITABO 2 92.7% 82.3% 94.1% 94.2% 78.3% 70.8% 0.0% 12.7% 87.4% 97.6% 79.1% 87.6% 73.1%LOS MINA 5 0.0% 0.0% 77.4% 100.0% 100.0% 93.3% 97.8% 100.0% 96.2% 100.0% 79.1% 89.0% 77.7%LOS MINA 6 99.5% 99.0% 93.7% 100.0% 65.2% 15.1% 97.4% 99.9% 96.7% 100.0% 99.8% 100.0% 88.8%

EFOR [%]ANDRES 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.3% 0.0% 0.7% 2.4% 0.6% 0.3%ITABO 1 0.5% 0.9% 4.6% 0.0% 3.1% 0.0% 0.0% 2.1% 8.8% 6.8% 1.1% 0.7% 2.4%ITABO 2 1.7% 0.0% 0.0% 0.0% 0.2% 0.0% 0.0% 0.0% 6.0% 1.5% 0.0% 0.5% 0.8%LOS MINA 5 0.0% 0.0% 0.0% 0.0% 0.0% 0.3% 0.0% 0.0% 0.2% 0.0% 0.0% 0.0% 0.0%LOS MINA 6 0.7% 0.3% 3.0% 0.0% 0.0% 0.0% 0.4% 0.0% 0.0% 0.0% 0.3% 0.0% 0.4%

HEAT RATE [BTU/kWh]ANDRES 7,681 7,646 7,616 7,598 7,596 7,582 7,647 7,607 7,658 7,640 7,799 7,917 7,665 ITABO 1 10,929 11,105 10,485 10,913 10,684 10,904 11,373 12,455 11,822 10,715 11,288 10,911 11,132 ITABO 2 10,863 11,242 10,580 10,837 10,628 10,848 13,522 11,338 10,479 12,191 10,421 11,177 LOS MINA 5 11,920 12,014 12,139 12,131 12,215 12,131 12,133 12,087 12,191 12,000 12,096 LOS MINA 6 11,934 11,781 11,804 11,917 12,020 12,101 12,059 12,006 11,993 11,895 11,878 11,908 11,941

As may be observed in the Graph below, year 2010 was quite particular for each of the AES plants in the Equivalent Availability Factor (EAF). AES Andres reached an EAF of 95.7% for the year, demonstrating that the investments and focus in operational excellence pays off.

EAF AES DOMINICAN REPUBLIC

AES ANDRES ITABO I

2008 2009 20102007

LM V LM VIITABO II

%

100

90

80

70

60

50

40

30

20

10

0

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Statistical Report 2010AES

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For the Equivalent Forced Outage Rate Indicator (EFOR), AES ANDRES obtained its lowest histo-ric value, 0.3%. The AES ITABO plants obtained a combined value of 2.0% (with a particular performance of unit # 2 of ITABO with a score of 0.8%)

Relevant EventsThe operational events of most relevance in the power plants of AES Dominicana coincide with the outages resulting from scheduled maintenance of its units. See table below.

AES DOMINICAN REPUBLIC RELEVANT EVENTS 2010

Unit Description From To HoursLos Mina 6 Programmed Maintenance 22-May-2010 00:42 26-Jun-2010 01:23 841

Itabo 2 Programmed Maintenance 27-Jun-2010 00:44 27-Aug-2010 23:00 1,486 Itabo 1 Programmed Maintenance 19-Sep-2010 00:58 06-Oct-2010 01:45 409 Andres Programmed Maintenance 16-Mar-2010 11:11 24-Mar-2010 03:08 184

EFOR AES DOMINICAN REPUBLIC

AES ANDRES ITABO I

2008 2009 20102007

LM V LM VIITABO II

%

16

14

12

10

8

6

4

2

0

MarketWholesale Electric

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2 Wholesale Electric Market

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Brief History of the Dominican Electric SectorIn 1997 the capitalization process began. This process was instituted due to serious problems in the electrical sector caused by a deficit of the generation, poor quality service and a lack of capi-tal investment for the electrical sector expansion.

The capitalization process was formalized on June 24, 1997, with the publication of the State Companies Reform Law. Before this process, generation, transmission and distribution assets in the Dominican Republic were owned by CDE, who by law was the only entity authorized to operate in the electricity sector.

In the mid 90s, CDE subscribed several power purchased agreements with independent power producers; increasing the systems installed capacity with private capital. During this period, the sector was regulated by a series of administrative resolutions issued by the Industry and Commerce Ministry.

Through the different stages of the capitalization process, the assets held by CDE were divided into eight state-owned companies: CDEEE, a parent holding company, three distribution compa-nies: EDENORTE, EDESUR and EDEESTE, three generation companies: HAINA, ITABO and HIDRO and the power transmission company.

In 1999, the three distribution companies and the two thermal generation companies were capi-talized through the sale of 50% of the stocks to private investors. The Dominican State remained with 49% of the stocks and the last 1% was sold to the employees of these companies.

In July 2001, the Electricity General Law was issued, establishing the institutions of the sector and the rules under which it will operate. In July 2002, the Electricity General Law Rulebook was issued, completing the electrical sector new legislation.

During 2007, the Electricity General Law and its Rulebook were modified by the law number 186-07. The new law has as a goal to criminalize the electrical fraud and establish other measu-res to obtain the electrical sector’s financial viability.

GenerationThe electric generation park of the Dominican Republic is mainly composed of 82.5% ther-moelectric units while the other 17.5% is composed by hydroelectric units.

The following tables show the installed capacities of the generation park by technology and by fuel. The graph enables us to appreciate the improvements in the energy matrix over the past ten years. In the first pie charts we may observe a substitution in technologies from the least efficient technologies (gas turbines) to the most efficient technologies combined cycles.

Installed Capacity by Technology

(December 2010)

Installed Capacity by Technology

(December 2000)

Hydro Turbine 17.5%

Hydro Turbine 18.0%

Steam Turbine 20.1%

Steam Turbine 22.6%

Diesel Engine 24.3%

Diesel Engine 22.5%

Gas Turbine 11.2%

Gas Turbine 30.2%

Combined Cycle 26.9%

Combined Cycle 6.7%

32 33


Fuel Oil 5 39.1%

Fuel Oil 6 48.9%

Fuel Oil 214.4%

Fuel Oil 233.1%

Coal 10.5%

Coal 0%

Natural Gas 18.5%

Water 17.5%

Water 18%

Likewise, it is remarkable to observe the reduction in the dependency of fuels that are directly derived from petroleum (such as fuel oil) from 82% in the year 2000 to 54% in the year 2010, enabling to further Diversity the fuel mix and subsequently reduce the costs of the energy matrix.

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Installed Capacity by

Fuel Type(December 2000)

Installed Capacity by

Fuel Type(December 2010)

The following table enables us to view the installed capacity of the system by Generation Company and by technology.

SYSTEM INSTALLED CAPACITY BY TECHNOLOGY

TOTAL

GENERATION COMPANY STEAMTURBINE

GASTURBINE

COMBINEDCYCLE

DIESELENGINE

HYDRO [MW] [%]

AES ANDRES 319.0 319.0 10.7%

AES ITABO 260.0 260.0 8.7%

DPP 236.0 236.0 7.9%

AES DOMINICANA 260.0 236.0 319.0 815.0 27.2%

HAINA 343.1 100.0 102.0 545.1 18.2%

HIDRO 523.2 523.2 17.5%

METALDOM 42.0 42.0 1.4%

SEABOARD 116.3 116.3 3.9%

GPLV 198.8 198.8 6.6%

MONTERIO 100.1 100.1 3.3%

CEPP 76.8 76.8 2.6%

LAESA 59.6 59.6 2.0%

INDEPENDENT POWER PRODUCERS [IPP'S]

SAN FELIPE 185.0 185.0 6.2%

CESPM 300.0 300.0 10.0%

MAXON 30.0 30.0 1.0%

RIO SAN JUAN (CDEEE) 1.9 1.9 0.1%

TOTAL [MW] 603.1 336.0 804.0 727.5 523.2 2,993.80 100.0%

It is important to indicate that AES Dominicana, through its AES ANDRES, AES ITABO and AES DPP power plants, encompasses 27.2% of the installed capacity of the generation park, with the added benefit of having the most competitive fuel mix in the market (coal and natural gas).

The following tables show the power plants that have been installed by December 2010, speci-fying the fuel, technology and installed capacity.

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CAPACIDAD INSTALADA POR UNIDAD GENERADORADiciembre 2010

EMPRESA TERMOELÉCTRICA

EMPRESA COMBUSTIBLE TECNOLOGIA POTENCIA [MW]

AES DOMINICANAANDRES GAS NATURAL Combined Cycle 319.0ITABO I CARBON Steam Turbine 128.0ITABO II CARBON Steam Turbine 132.0LOS MINA V GAS NATURAL Gas Turbine 118.0LOS MINA VI GAS NATURAL Gas Turbine 118.0SubTotal 815.0

HAINAHAINA I FUEL NO. 6 Steam Turbine 54.0HAINA II FUEL NO. 6 Steam Turbine 54.0HAINA IV FUEL NO. 6 Steam Turbine 84.9SAN PEDRO VAPOR FUEL NO. 6 Steam Turbine 30.0PUERTO PLATA I FUEL NO. 6 Steam Turbine 27.6PUERTO PLATA II FUEL NO. 6 Steam Turbine 39.0HAINA TG FUEL NO. 2 Gas Turbine 100.0BARAHONA CARBON CARBON Steam Turbine 53.6SULTANA DEL ESTE FUEL NO. 6 Diesel Engine 102.0SubTotal 545.1

GENERADORA PALAMARA - LA VEGAPALAMARA FUEL NO. 6 Diesel Engine 106.8LA VEGA FUEL NO. 6 Diesel Engine 92.0SubTotal 198.8

CDEEESAN FELIPE FUEL NO. 6 Combined Cycle 185.0CESPM I FUEL NO. 2 Combined Cycle 100.0CESPM II FUEL NO. 2 Combined Cycle 100.0CESPM III FUEL NO. 2 Combined Cycle 100.0MAXON FUEL NO. 2 Diesel Engine 30.0RIO SAN JUAN FUEL NO. 2 Diesel Engine 1.9SubTotal 516.9

SEABOARDESTRELLA DEL NORTE FUEL NO. 6 Diesel Engine 43.0ESTRELLA DEL MAR FUEL NO. 6 Diesel Engine 73.3SubTotal 116.3

CEPP CEPP I FUEL NO. 6 Diesel Engine 18.7CEPP II FUEL NO. 6 Diesel Engine 58.1SubTotal 76.8

MONTE RIO POWER MONTE RIO FUEL NO. 6 Diesel Engine 100.1SubTotal 100.1

METALDOMMETALDOM FUEL NO. 6 Diesel Engine 42.0SubTotal 42.0

LAESAPIMENTEL FUEL NO. 6 Diesel Engine 59.6SubTotal 59.6Total Thermoelectric 2,470.6

HYDROELECTRIC UNITS

RESERVOIR HYDRO FUEL TECHNOLOGY CAPACITY [MW]TAVERA I WATER Hydro Turbine 48.0TAVERA II WATER Hydro Turbine 48.0JIGUEY I WATER Hydro Turbine 49.0JIGUEY II WATER Hydro Turbine 49.0AGUACATE I WATER Hydro Turbine 26.0AGUACATE II WATER Hydro Turbine 26.0VALDESIA I WATER Hydro Turbine 27.0VALDESIA II WATER Hydro Turbine 27.0RIO BLANCO I WATER Hydro Turbine 12.5RIO BLANCO II WATER Hydro Turbine 12.5MONCION I WATER Hydro Turbine 26.0MONCION II WATER Hydro Turbine 26.0RINCON WATER Hydro Turbine 10.1PINALITO I WATER Hydro Turbine 25.0PINALITO II WATER Hydro Turbine 25.0SubTotal Reservoir 437.1

NON-RESERVOIR HYDROLOPEZ ANGOSTURA WATER Hydro Turbine 18.4CONTRA EMBALSE MONCION I WATER Hydro Turbine 1.6CONTRA EMBALSE MONCION II WATER Hydro Turbine 1.6BAIGUAQUE I WATER Hydro Turbine 0.6BAIGUAQUE II WATER Hydro Turbine 0.6HATILLO WATER Hydro Turbine 8.0JIMENOA WATER Hydro Turbine 8.4EL SALTO WATER Hydro Turbine 0.7ANIANA VARGAS I WATER Hydro Turbine 0.3ANIANA VARGAS II WATER Hydro Turbine 0.3DOMINGO RODRIGUEZ I WATER Hydro Turbine 2.0DOMINGO RODRIGUEZ II WATER Hydro Turbine 2.0ROSA JULIA DE LA CRUZ WATER Hydro Turbine 0.9NIZAO NAJAYO WATER Hydro Turbine 0.3LOS ANONES WATER Hydro Turbine 0.1SABANA YEGUA WATER Hydro Turbine 12.8LAS DAMAS WATER Hydro Turbine 7.5SABANETA WATER Hydro Turbine 6.3LOS TOROS I WATER Hydro Turbine 4.9LOS TOROS II WATER Hydro Turbine 4.9MAGUEYAL I WATER Hydro Turbine 1.5MAGUEYAL II WATER Hydro Turbine 1.5LAS BARIAS WATER Hydro Turbine 0.9SubTotal Non-Reservoir 86.1

TOTAL HYDRO 523.20

GRAND TOTAL 2,993.8

36 37


TransmissionThe Electric Transmission Company of the Dominican Republic (ETED) is a state owned company with the primary objective of building, operating and sustainably managing the grids and subs-tations of the electric interconnected system of the Dominican Republic in order to provide a quality service at reasonable prices.

The power plants, the distribution companies’ sub-stations and non regulated users’ substations are all linked through the transmission grids. These grids consist of 260 kilometers of cables at 345 kV and 2,469 kilometers of cables at 138 kV, which are denominated as the primary lines, in addition to 1,679 kilometers of cables at 69 kV that are denominated as secondary cables in the transmission system.

The primary grids of 138 kV interconnect power plants and substations that supply high demand centers whereas the secondary grids of 69 kV interconnect lower demand centers.

Because of its radial configuration, the National Electric Interconnected System is divided into four zones: Santo Domingo Zone, South Zone, North Zone and East Zone. The most important substations of these zones are: Palamara and Hainamosa in the Zone of Santo Domingo, Pizarrete in the Southern Zone, Bonao II and Canabacoa in the Northern Zone and San Pedro II in the Eastern Zone.

During the year 2010, the Electric Transmission Company (ETED) completed an important portion of the 345 kV line. This accomplishment enabled for the important improvement in the tension levels in the Northern Zone of the country and also reduced the electric losses in the National Electric Interconnected System.

Electricity DistributionBy December 2010, the electricity distribution of the national interconnected grid was driven by three distribution companies:

EdeSur Dominicana, S. A.EdeNorte Dominicana, S. A.EdeEste, S. A.

These companies obtain their energy from the electric system through the high voltage bus bars, which are later transformed to minor tension and then conducted through each company’s grids within their zones of concession until these reach the final users.

The distribution company lines within the national grid contain a mechanism of automatic load shedding, implemented in various distribution company substations through relays of low frequency and low voltage, which serve to disconnect load automatically through different phases. This mechanism is reviewed and updated periodically by the Coordinating Body.

Energy BalanceIn the following table we can observe the monthly energy balance during the year 2010, in which we may observe the net injections of the generation companies, the distribution company with-drawals and non regulated users, which for the purposes of this table have been grouped inde-pendently from the generating company with which these have a power supply contractual arrangement.

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ELECTRIC SYSTEM BALANCE 2010[GWh]

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2010AES ANDRES 180.5 175.7 143.0 181.2 184.4 176.4 182.7 187.9 167.1 188.1 169.2 159.0 2,095 AES ITABO 136.7 97.6 149.7 130.8 134.0 116.0 58.9 55.7 90.1 139.2 128.3 131.8 1,369 DPP 45.6 57.7 112.6 100.3 103.5 65.2 119.3 127.8 116.0 126.6 103.2 120.8 1,199 AES Dominicana 362.8 331.0 405.3 412.3 421.9 357.5 360.8 371.4 373.3 453.9 400.8 411.6 4,663 HIDRO 74.6 53.0 50.7 68.5 93.3 162.2 169.6 176.2 122.4 138.4 166.5 129.0 1,404 IPPs 93.5 60.7 100.2 114.0 124.4 84.3 99.8 87.1 89.7 58.9 10.4 13.3 936 HAINA 103.9 110.5 118.1 89.5 96.0 92.5 130.3 119.4 106.3 80.8 84.3 96.1 1,228 GPLV 81.0 91.8 90.2 89.1 86.8 84.5 81.9 90.9 94.3 85.4 78.3 74.4 1,029 SEABOARD 58.4 63.1 66.8 58.9 58.6 66.4 63.7 63.0 63.9 62.8 49.0 60.3 735 CEPP 24.0 30.1 34.6 29.9 31.0 29.8 25.7 31.9 28.7 32.0 28.8 29.9 357 MONTERIO 34.1 41.1 44.9 43.0 51.4 43.5 35.5 48.0 50.5 50.5 34.5 41.5 519 METALDOM 13.7 14.0 13.8 10.3 11.4 11.5 16.2 19.2 17.3 15.1 13.7 7.8 164 LAESA 32.6 34.5 38.2 35.1 36.9 35.4 46.7 57.0 54.1 55.4 51.0 52.1 529 FALCONDO 35.3 24.3 18.7 29.4 39.7 37.1 41.1 37.8 36.5 37.9 40.3 44.2 422 INYECCIONES 914.0 854.2 981.7 980.0 1,051.3 1,004.9 1,071.2 1,102.0 1,037.0 1,071.4 957.5 960.1 11,985 EDESUR 308.4 290.1 328.0 331.8 355.6 331.1 355.9 364.3 346.1 358.8 324.7 324.0 4,019 EDENORTE 255.4 238.0 269.3 267.7 288.5 283.6 306.7 310.5 294.1 305.7 262.2 272.6 3,354 EDEESTE 256.0 233.7 275.3 277.1 298.8 281.5 296.3 310.7 286.9 294.6 261.2 265.5 3,338 UNR's 76.1 76.3 88.8 83.0 87.0 88.2 90.3 91.3 87.4 92.6 91.1 83.5 1,036 RETIROS 895.8 838.1 961.4 959.7 1,029.9 984.4 1,049.2 1,076.8 1,014.6 1,051.7 939.2 945.6 11,746 PERDIDAS 18.2 16.1 20.2 20.3 21.4 20.4 22.0 25.2 22.4 19.6 18.3 14.6 239 PERDIDAS % 2.0% 1.9% 2.1% 2.1% 2.0% 2.0% 2.1% 2.3% 2.2% 1.8% 1.9% 1.5% 2.0%

During the year 2010, the total injection of electric energy was 11,985 GWh. The companies with the most supply of electric energy were AES ANDRES with 17%, AES ITABO with 11%, DPP with 10%, HIDRO with 12%, HAINA with 10% and GPLV with 9%. The Group AES Dominicana contri-buted 39% of the energy in the Electric Wholesale Market, achieving the maximum historic market share of the National Electric System obtained by AES Dominicana. The two power plant units of DPP were able to pass from peak plants in the system to base plants in the system, mostly as a result of the increased competitiveness of natural gas.

Electric Generation

Market Share 2010

METALDOM 1%FALCONDO 4%LEASA 4%

AES DOMINICANA 39%

IPPs 8%

GPLV 9%

CEPP 3%

HIDRO 12%

HAINA 10%

SEABOARD 6%

MONTERIO 4%

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Capacity BalanceThe following table shows us the resulting values of firm definitive capacity of the generation companies for each month in the year 2010.

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FIRM CAPACITY BY GENERATION COMPANY 2010[MW]

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC MW %AES ANDRES 247.7 241.4 248.8 246.7 239.8 239.4 239.6 240.2 241.8 254.0 240.4 242.8 243.5 14.0%AES ITABO 225.9 225.9 225.8 225.9 225.9 225.9 225.9 225.9 225.8 225.8 225.9 225.9 225.9 12.9%DPP 22.6 22.0 22.7 22.5 21.8 21.8 21.8 21.9 22.0 23.3 22.5 22.8 22.3 1.3%AES DOMINICANA 496.2 489.2 497.3 495.0 487.5 487.1 487.3 487.9 489.6 503.1 488.8 491.5 491.7 28.2%HIDRO 358.2 369.6 356.2 360.2 372.9 373.6 373.3 372.2 369.2 364.3 372.9 365.6 367.4 21.1%IPPs* 113.0 110.1 113.5 112.5 109.3 109.2 109.3 109.5 110.3 116.1 110.6 111.7 111.3 6.4%HAINA 217.9 215.9 218.2 217.5 215.4 215.3 215.3 215.5 216.0 201.5 213.0 216.7 214.8 12.3%GPLV 189.9 189.9 189.9 189.9 189.9 189.9 189.9 189.9 189.9 189.9 189.9 189.9 189.9 10.9%SEABOARD 108.9 108.9 108.9 108.9 108.9 108.9 108.9 108.9 108.9 108.9 108.9 108.9 108.9 6.2%CEPP 65.2 65.2 65.2 65.2 65.2 65.2 65.2 65.2 65.2 65.2 65.2 65.2 65.2 3.7%MONTERIO 96.4 96.4 96.4 96.4 96.4 96.4 96.4 96.4 96.4 96.4 96.4 96.4 96.4 5.5%METALDOM 40.6 40.6 40.6 40.6 40.6 40.6 40.6 40.6 40.6 40.6 40.6 40.6 40.6 2.3%LAESA 58.1 58.1 58.1 58.1 58.1 58.1 58.1 58.1 58.1 58.1 58.1 58.1 58.1 3.3%Total 1,744.3 1,743.9 1,744.2 1,744.3 1,744.2 1,744.2 1,744.2 1,744.2 1,744.2 1,744.2 1,744.4 1,744.6 1,744.2 100.0%

The power plant companies that resulted with the largest participation in the firm capacity distribution were HIDRO with 20%, AES ANDRES with 14%, HAINA with 13%, AES ITABO with 12% and GPLV with 10%. After this group, the remaining companies have figures which indivi-dually represent less than 10%. The AES Dominicana Group together had a participation of 27.9% of the firm capacity market, as can be observed in the table below.

METALDOM 2.3%LEASA 3.3%

AES DOMINICANA 28.2%

IPPs 6.4%

GPLV 10.9%

CEPP 3.7%

HIDRO 21.1%

HAINA 12.3%

SEABOARD 6.2%

MONTERIO 5.5%

Firm Capacity Market Share

2010

Maximum DemandThe system’s maximum demand is the highest power consumed by the distribution companies in a specific moment of the year. Generally it happens during the system peak hours. Maximum demand is data used on the capacity recalculation, because the system remunerates only the maximum capacity effectively recorded as demanded during the year.

The following table shows the power production and power consumptions during the monthly maximum demand hour.

MONTHLY PEAK DEMAND 2010[MW]

Month JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DECDay / Hour D18 H21 D17 H21 D24 H22 D30 H21 D15 H21 D29 H22 D08 H22 D25 H22 D13 H22 D11 H21 D16 H20 D24 H20GENERATIONGROSS GENERATION 1,636 1,620 1,792 1,777 1,767 1,763 1,740 1,795 1,782 1,787 1,764 1,727 NET GENERATION sub-trans-mission voltage

1,578 1,565 1,733 1,719 1,712 1,716 1,696 1,751 1,731 1,731 1,708 1,674

NET GENERATION transmission high-voltage

1,573 1,561 1,728 1,714 1,706 1,711 1,691 1,745 1,726 1,728 1,702 1,670

DEMANDEmpresa Distribuidora del Este 440 449 506 468 513 457 492 481 524 494 464 499 EdeNorte Dominicana 433 458 497 492 544 464 468 520 486 499 487 525 EdeSur Dominicana 543 507 554 604 545 612 569 594 552 559 568 540 NRU 117 113 121 110 69 120 122 111 121 130 144 65 Other 3 8 7 5 3 8 3 4 2 2 6 2

TOTAL DEMAND 1,535 1,536 1,685 1,679 1,674 1,661 1,654 1,709 1,686 1,685 1,669 1,631

Loss [MW] 37 25 43 35 33 50 37 35 40 43 33 38 Loss [%] 2.36% 1.59% 2.50% 2.06% 1.93% 2.92% 2.19% 2.02% 2.30% 2.51% 1.96% 2.29%

In 2010, the maximum demand occurred on August 25th at 22:00 hours where there was a total gross amount of 1,795 MW injections registered. The total withdraws during that same hour added up to 1,709 MW, from which 93.3% were withdrawn by distributers, 6.5% by Non Regulated Users, and 0.2% by other generators.

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Fuel Oil 645%

Fuel Oil 22%

Coal 14%

Natural Gas27%

Water12%

Energy Supply by Fuel Type

2010

Energy Supply by Fuel TypeIn 2010, 45% of the supplied energy was produced with Fuel Oil 6, holding the most participa-tion in the fuel market, natural gas came in second with 27%, followed by carbon coming in third with 14%.

International Fuel Prices The following graph shows the average monthly price for each fuel type in US$/MMBtu. The prices for FO 6 and FO 2 were referenced by the prices in the international publications by Platts at the US Golf Coast Port. The prices for Coal was referenced by FOB, Bolivar, Colombia’s Port with a heat rate of 11,300 Btu/lb and the natural gas prices were referenced by the monthly average of the front month future price quotations in the NYMEX (Henry Hub).

In 2010, natural gas and carbon maintained the most competitive prices of those utilized in the Interconnected National Electrical System for the generation of thermal energy.

Fuel Oil 6 and Fuel Oil 2 maintained the highest prices throughout the year, whereas carbon sustained its position as the most economical fossil fuel for electrical generation.

The next table presents the value of fuel prices in the international market expressed in US$/MMBTU.

Electricity Spot PriceThe short term marginal cost is the variable cost necessary to produce an additional unit of ener-gy considering the demand and generation park available. The next graph presents 2010’s maxi-mum and monthly spot price.

The following table demonstrates 2010’s monthly average energy spot prices.

ENERGY SPOT PRICE 2010[US$/MWh]

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Average

CMg PROM 132 154 149 137 144 134 130 140 143 134 123 126 137

CMg MAX 161 166 163 163 169 157 155 156 157 158 166 168 161

These price comparisons must be in American dollars since energy’s marginal cost is determined by the production costs of power generation companies, whose fuel prices are acquired by the international market which is in fact, in American dollars. Attached are the exchange rates in dollars that were used for this report.

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International Fuel Prices 2010

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INTERNATIONAL FUEL PRICES 2010(US$/MMBTU)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecCOAL 2.49 2.39 2.41 2.75 3.13 3.19 3.25 3.15 3.15 3.38 3.65 4.34

NATURAL GAS 5.13 4.81 3.87 3.92 4.34 4.62 4.92 3.82 3.87 4.04 4.18 4.41FUEL OIL 6 11.37 11.10 11.10 11.59 10.61 10.50 10.54 10.60 10.68 11.37 11.52 12.04FUEL OIL 2 14.60 14.09 14.89 15.85 14.57 14.51 14.16 14.59 14.94 16.03 16.50 17.46

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Capacity Spot Price and Connection RightThe Capacity marginal cost is the valued price for the transactions of Firm Capacity, and is deter-mined by what is established in Article 278 of the Regulation of the General Law of Electricity. This also corresponds to the monthly calculations for the Connection Right Unit Price which is established in Article 364. At the end of 2005 the Superintendence of Electricity emitted Resolution No. 108 in which they order to recalculate the Connection Right Unit Price using definite capacity transactions as base.

Frequency Regulation ServiceThe next graph demonstrates the margins contributed by each company that participate in the frequency regulation market, with the objective that establishes the norm of being between 3% and 5% of the demand, both primarily and secondarily.

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Capacity Spot Price and

Connection Right 2010

Secondary Frequency Regulation

Service Contribuition

2010 (GWh)

Primary Frequency Regulation

Service Contribution 2010 (GWh)

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AES Dominicana, with the participation of AES ANDRES and DPP, was the company that contri-buted the most in the primary regulation of frequency, with approximately as much as 21% and 36%, bringing a total of 57% of the reserve margins in 2010, maintaining the quality and the reliability of the market.

In the secondary regulation of frequency AES ANDRES and DPP contributed approximately 52% and 23%, bringing a total of 75% of the reserve margins during 2010. Also participating in this market were the hydroelectric companies who contributed 22% and the IPP’s who contributed 3% with the San Felipe unit. It can be noted that during the maintainace of AES ANDRES in March 2010, the 3% of the reserve which is established in the norm as the minimum demand that must be in the system to operate with the security required before variations in the program-med demand and the supplied demand, was not reached. This occurred due to the small amount offered in the current system to lend this important service.

The next table indicates the monthly unitary marginal cost of capacity and right of connection.

CAPACITY SPOT PRICE AND CONNECTION RIGHT 2010[US/kW-month]

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Average

Capacity Spot Price 7.97 7.98 7.98 8.02 7.99 8.05 8.05 8.04 8.06 8.03 8.08 8.06 8.02

Connection Right 2.97 2.76 3.35 3.35 3.64 3.72 3.82 4.11 3.70 3.77 3.50 3.19 3.49

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GPLV SEABOARD METALDOM MONTERIO 5% Demanda 3% Demanda

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Non Regulated Users MarketNon Regulated Users (NRU), are public service users whom before obtaining the authorization to become a NRU are able to obtain electricity services through liberal contracts with any elec-trical company.

Article 108 of the General Law of Electricity informs that clients or users can solicit an authori-zation to become a NRU to the Superintendence of Electricity (SIE) if they consume the following capacity:

• 2007 ≥ 1.4 MW• 2008 ≥ 1.3 MW• 2009 ≥ 1.2 MW• 2010 ≥ 1.1 MW• 2011 ≥ 1 MW

Until the year 2010 the SIE had issued 124 licenses to enable the NRU condition. However, currently only 69 users are using their license in the wholesale electricity market. Below is the monthly amount of energy that was supplied by each agent to its NRUs during 2010.

NON-REGULATED USERS MARKET EVOLUTION 2010(GWh)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec GWh %

AES ANDRES 32.66 37.06 41.78 39.25 42.29 41.64 44.84 45.78 48.34 49.43 49.65 43.68 516.40 49.9%HAINA - - - - - - - - - - - - - 0.0%AES ITABO 0.20 0.22 0.25 0.22 0.23 0.27 0.25 0.26 0.25 0.23 0.17 0.20 2.75 0.3%MONTERIO 0.73 0.77 0.85 0.75 0.27 0.25 0.24 0.24 0.22 0.24 0.49 - 5.05 0.5%SEABOARD 4.88 4.28 4.16 3.18 2.99 3.18 3.29 3.21 2.89 3.68 4.40 2.76 42.90 4.1%EDESUR 8.34 7.89 9.18 5.20 4.61 7.72 9.65 9.50 7.86 7.76 6.75 6.34 90.78 8.8%EDENORTE 4.69 3.68 4.18 3.83 4.06 4.13 2.83 2.77 1.24 1.25 0.67 0.66 33.99 3.3%EDEESTE 17.71 14.99 20.28 19.10 19.68 21.47 20.95 20.99 18.29 21.53 20.87 20.24 236.11 22.8%HIDRO 6.90 7.37 8.12 7.79 8.18 8.05 8.28 8.58 8.30 8.51 8.08 9.62 97.79 9.4%MERCADO SPOT - - - 3.68 4.73 1.47 - - 0.05 0.00 0.00 - 9.93 1.0%Total withdrawals 76.11 76.26 88.79 83.02 87.02 88.18 90.34 91.33 87.44 92.64 91.08 83.50 1,035.70 100.0%

From the table above note that the NRU average monthly withdrawal in the wholesale electrici-ty market economic transactions was 86 GWh, which represented 9% of the SENI average monthly withdrawal in 2010.

In addition, during 2010 NRUs withdraw was 1.036 GWh of energy, from which AES Dominican Republic provided 516 GWh, which represents a monthly average of 43 GWh and 50% market share for all of 2010. Only in December 2010 AES Dominican Republic participation in NRU market was 52%.

The following graph shows the NRU market share evolution by agents in 2010.

Non-Regulated Users Market

Evolution 2010

This graph highlights the positioning of companies such as EdeEste and AES Andres, the main participants in this market followed by the hydroelectric company and EDESUR.

Contract MarketContracts, also called PPAs (Power Purchase Agreements), are bilateral agreements for the buying and selling of electricity, capacity and other complementary services, made liberally between two parts, one who generates electricity with the purpose to sell (seller) and the other who desires to buy the electricity (buyer).

The table that follows shows the monthly amount of energy that was sold through contracts in the energy market during 2010.

SYSTEM ENERGY SALES(GWh)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec GWh %

AES ANDRES 181.0 175.7 151.1 183.0 185.1 178.1 182.7 187.9 167.9 188.3 171.1 161.6 2,113.4 14.0%AES DPP 98.2 89.7 122.5 118.0 122.5 110.1 123.7 130.3 121.3 128.1 115.2 124.7 1,404.2 9.3%AES ITABO 190.0 171.3 182.6 179.0 192.8 179.3 187.8 188.0 178.2 194.5 180.6 188.0 2,212.0 14.6%HAINA 127.3 119.4 135.1 134.7 144.4 138.3 162.2 180.5 170.3 176.3 156.1 158.3 1,803.0 11.9%MONTERIO 34.1 41.1 44.9 43.0 51.4 44.9 45.6 52.4 50.5 50.5 34.5 41.5 534.4 3.5%SEABOARD 60.1 64.9 69.0 61.2 61.2 69.5 67.0 66.2 66.8 65.7 51.8 63.0 766.5 5.1%EDESUR 8.3 7.9 9.2 5.2 4.6 7.7 9.6 9.5 7.9 7.8 10.7 8.6 97.1 0.6%EDENORTE 4.7 3.7 4.2 3.8 4.1 4.1 2.8 2.8 2.3 2.7 6.4 4.9 46.6 0.3%EDEESTE 17.7 15.0 20.3 19.1 19.7 21.5 20.9 21.0 18.3 21.5 20.9 20.2 236.1 1.6%HIDRO 80.5 74.5 85.0 83.3 93.3 162.2 169.6 176.2 122.4 138.4 166.5 129.0 1,480.7 9.8%LAESA 35.0 35.0 38.2 35.1 36.9 38.0 47.3 57.0 54.1 55.4 51.0 52.1 535.2 3.5%CDEEE 168.0 122.2 160.2 184.4 192.1 236.5 263.2 253.2 203.6 187.0 170.3 163.3 2,303.8 15.3%CEPP 24.0 30.1 34.6 29.9 31.0 29.8 27.6 31.9 28.7 32.0 28.8 29.9 358.5 2.4%GPLV 81.0 91.8 90.2 89.1 86.8 84.5 89.4 91.0 94.3 89.4 79.1 80.2 1,046.8 6.9%METALDOM 13.7 14.0 13.8 10.3 11.4 11.5 16.2 19.2 17.3 15.1 13.7 7.8 164.1 1.1%Total 1,123.5 1,056.1 1,160.9 1,179.1 1,237.1 1,316.0 1,415.7 1,467.0 1,304.0 1,353.0 1,256.6 1,233.2 15,102.3 100.0%

AES Dominican’s market share in the contractual energy market in 2010 can be seen in the above table with AES ANDRES (14.0%), DPP (9.3%) and ITABO (14.6%), supplying a total of 37.9% of all contracts registered in the energy market. The market share of CDEEE (15.3%) and HAINA (11.9%) can also be noted.

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Ene Feb Mar Abr M ay Jun Jul Ago Sep Oct N ov Dic

AES ANDRES HAINA AES ITABO MONTE RIO SEABOARD EDESUR EDENORTE EDEESTE MERCADO SPOT HIDRO

AnnualStatistics

48 49


3 Annual Statistics

Installed CapacityThe next table shows the installed generation capacity evolution in the system from 2000 to 2010.

Maximum DemandThe table below presents the maximum real demand from 2001 to 2010.

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SYSTEM INSTALLED CAPACITY[MW]

COMPANY 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010CAYMAN POWER 50.0 ENERGYCORP 103.5 103.5 103.5 103.5 AES ITABO 586.0 586.0 432.5 432.5 432.5 432.5 432.5 432.5 294.5 260.0 260.0 HAINA 456.7 663.3 665.1 665.1 665.1 663.4 663.4 663.4 548.2 548.2 545.2 HIDRO 402.0 411.8 463.8 463.8 463.8 463.8 469.3 469.3 472.3 523.1 523.2 DPP 236.0 236.0 236.0 236.0 236.0 236.0 236.0 236.0 236.0 236.0 236.0 GPLV 194.5 194.5 194.5 194.5 194.5 194.5 194.5 194.5 194.5 194.5 194.5 SAN FELIPE 175.0 175.0 185.0 185.0 185.0 185.0 185.0 185.0 185.0 185.0 185.0 METALDOM 42.0 42.0 42.0 42.0 42.0 42.0 42.0 42.0 42.0 42.0 42.0 SEABOARD 115.0 115.0 115.0 115.0 115.0 116.3 116.3 116.3 116.3 116.3 116.3 CEPP 76.9 76.9 76.9 76.9 76.9 76.9 76.9 76.9 76.9 76.9 76.9 MAXON 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 LAESA 79.9 79.9 83.9 87.7 87.7 31.6 31.6 31.6 59.6 94.1 CESPM 200.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 AES ANDRES 319.0 319.0 319.0 319.0 319.0 319.0 319.0 319.0 MONTERIO 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.1 RIO SAN JUAN 1.9 1.9 1.9 TOTAL [MW] 2,547.5 2,913.9 2,928.2 3,351.0 3,247.5 3,159.4 3,196.5 3,196.5 2,948.2 2,992.5 3,024.2

SYSTEM ENERGY BALANCE[MW]

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010AES ITABO 2,214 1,867 1,271 1,509 955 1,048 1,525 1,576 1,508 1,487 1,369 HIDRO 916 736 877 1,190 1,572 1,883 1,745 1,466 1,369 1,442 1,404 IPPs 3,316 2,085 2,378 1,516 1,767 1,396 1,228 1,100 1,431 1,253 936 HAINA 1,974 2,241 2,985 2,196 1,331 1,774 1,757 1,663 1,335 1,106 1,228 GPLV 213 1,423 1,428 1,330 815 814 766 888 1,085 1,119 1,029 SEABOARD 416 885 890 865 699 793 778 777 796 805 735 CEPP 473 386 402 267 242 284 339 362 263 296 357 AES ANDRES 346 692 984 1,582 1,900 2,041 1,730 2,095 DPP 538 18 18 94 364 338 466 1,199 MONTERIO 595 461 556 496 448 526 524 519 METALDOM 139 161 184 193 189 150 164 LAESA 49 238 230 383 529 FALCONDO 50 54 228 416 422 GENERATION 9,522 9,623 10,231 10,349 8,691 9,712 10,593 11,029 11,339 11,176 11,985 EDESUR 3,420 3,445 3,709 3,608 2,969 3,267 3,488 3,656 3,826 3,785 4,019 EDENORTE 2,864 2,789 3,023 3,087 2,497 2,725 2,967 3,099 3,240 3,129 3,354 EDEESTE 2,991 2,926 3,102 3,217 2,706 2,961 3,053 3,034 3,043 3,050 3,338 UNR's 5 73 68 163 315 462 768 879 976 965 1,036 OTHERS 2 1 30 19 12 63 73 122 61 22 DEMAND 9,282 9,235 9,933 10,094 8,499 9,477 10,349 10,789 11,145 10,950 11,746 LOSS 241 389 298 255 192 235 244 240 194 226 239 LOSS % 2.5% 4.0% 2.9% 2.5% 2.2% 2.4% 2.3% 2.2% 1.7% 2.0% 2.0%

Energy BalanceThe following table shows the annual balances of energy generation and demand by agents in the electrical market from 2000 to 2010.

YEARLY MAXIMUM DEMAND[MW]

YEAR 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

MONTH DECEMBER DECEMBER SEPTEMBER MAY JUNE MAY JULY MAY SEPTEMBER AUGUST

Day / Hour D11 H21 D20 H20 D11 H21 D04 H21 D02 H22 D17 H21 D05 H21 D13 H21 D30 H22 D25 H22

GENERATION

GROSS GENERATION 1,601 1,634 1,737 1,690 1,691 1,766 1,772 1,925 1,743 1,795

NET GENERATION sub-transmission voltage

1,553 1,578 1,691 1,643 1,639 1,708 1,724 1,861 1,689 1,751

NET GENERATION transmission high-voltage

1,551 1,575 1,688 1,639 1,634 1,703 1,719 1,855 1,685 1,745

DEMAND

Empresa Distribuidora del Este [EdeEste] 465 473 519 481 463 466 454 502 461 481

Empresa Distribuidora del Norte [EdeNorte]

478 499 545 522 491 521 502 591 477 520

Empresa Distribuidora del Sur [EdeSur] 524 535 539 538 546 580 602 604 588 594

Non-Regulated Users 7 8 18 35 49 77 101 93 100 111

Others 12 17 13 13 39 12 31 10 7 6

TOTAL DEMAND 1,487 1,532 1,634 1,589 1,586 1,656 1,690 1,799 1,634 1,711

Losses [MW] 64 43 54 50 48 47 29 56 51 33

Losses [%] 4.1% 2.7% 3.2% 3.1% 2.9% 2.7% 1.7% 3.0% 3.0% 1.9%

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Statistical Report 2010Ann

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Next, is a table which represents the monthly evolution of the energy marginal costs in the spot market in US$/MWh from 2000 to 2010.

Energy Spot Price Evolution

International Fuel Price Evolution

FO2 Gulf Coast, Destillates and

Blendstocks, Waterborne

FO6 3% Sulfur, Gulf Coast,

Residual Fuel

International Fuel PricesThe following graph demonstrates the evolution of international prices of each fuel for the gene-ration of energy in the Dominican electrical system in US$/MMBTU.

The following graphs present the evolution of each individual fuel type in their own commercial units.

Electricity Spot PriceThe next graph shows the evolution of electricity marginal costs from 2000 to 2010.

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ENERGY SPOT PRICE[MW]

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC2000 96.91 120.62 107.70 111.27 96.64 95.98 100.25 2001 47.79 53.22 50.71 51.67 53.41 65.76 72.07 74.52 79.83 60.37 51.35 45.58 2002 44.72 42.28 47.28 59.29 60.60 63.99 58.65 65.72 65.28 63.64 66.62 62.76 2003 69.89 73.08 69.41 61.49 58.90 60.82 77.46 70.63 77.90 73.71 59.01 68.07 2004 57.60 67.20 62.24 63.93 56.55 76.92 72.86 74.24 73.18 68.57 79.58 58.74 2005 55.76 66.89 59.77 70.43 70.58 72.05 75.88 85.91 87.08 92.54 95.24 77.25 2006 79.57 92.79 103.30 79.95 91.13 95.93 87.92 91.33 107.09 96.58 89.42 72.81 2007 71.01 76.72 81.93 83.19 97.55 99.02 111.59 114.39 107.12 116.65 120.19 115.32 2008 134.21 141.28 144.31 157.78 163.76 184.58 204.88 216.24 186.00 179.44 134.27 84.52 2009 79.51 86.56 86.48 88.88 99.15 110.05 132.04 131.23 146.33 144.58 150.03 138.79 2010 131.96 154.49 148.80 137.03 143.77 134.02 130.05 140.05 143.42 134.34 122.59 125.84

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SYSTEM TOTAL BLACK OUTS 2000 - 2010

DAY DATE HOUR CAUSEWednesday 9-Feb-2000 16:47 Shortcircuit to 138 kV Itabo - Los Prados power lineSaturday 25-Mar-2000 19:19 Strain insulator failure to 138 kV Itabo - Palamara II power line Sunday 13-Aug-2000 11:55 Low FrequencySunday 13-Aug-2000 19:22 Low FrequencyFriday 25-Aug-2000 13:35 High-voltage breakers trip to 138 kV Villa Duarte - Hainamosa II power lineSaturday 2-Sep-2000 15:50 Low FrequencyMonday 9-Oct-2000 7:01 Autotransformer trip at Villa Duarte SubstationFriday 8-Dec-2000 8:33 A conductor landing to 138 kV Itabo - Haina I power lineSaturday 2-Jun-2001 14:27 Low FrequencyMonday 4-Jun-2001 15:51 Failure at Palamara substationThursday 28-Jun-2001 15:53 Low VoltageThursday 28-Jun-2001 18:06 Low FrequencyTuesday 6-Nov-2001 6:49 Low FrequencySunday 18-Nov-2001 16:37 Low VoltageThursday 22-Nov-2001 12:40 Low FrequencyTuesday 27-Nov-2001 3:16 Low FrequencySaturday 9-Mar-2002 20:06 Low FrequencyTuesday 19-Mar-2002 11:49 Shortcircuit to 138 kV Los Mina - Hainamosa power lineSunday 24-Mar-2002 1:46 Low FrequencyFriday 26-Jul-2002 12:38 Low VoltageSaturday 4-Jan-2003 0:55 Distribution transformer failure at Villa Duarte substationWednesday 6-Aug-2003 3:20 UnknownSaturday 27-Sep-2003 13:04 A damage to 138 kV Embajador - Los Prados power lineSaturday 11-Oct-2003 3:03 Low FrequencySunday 22-Feb-2004 3:40 A trip of 138 kV Villa Duarte - Timbeque II power lineThursday 25-Mar-2004 14:05 Failure at Bonao II substationSunday 8-Aug-2004 14:40 High Frequency. Failure of the 69 kV San Francisco - Pimentel power line and 69 kV HatilloMonday 9-Aug-2004 14:11 Low FrequencyTuesday 10-Aug-2004 15:47 High FrequencyMonday 23-Aug-2004 14:52 UnknownMonday 23-Aug-2004 18:29 UnknownTuesday 7-Sep-2004 13:56 Failure of the 138 kV Hainamosa - AES Andres power lineMonday 13-Sep-2004 16:13 Low FrequencyTuesday 21-Sep-2004 3:33 Failure of the 138 kV Palamara - Hainamosa power lineWednesday 3-Aug-2005 13:15 High-voltage breakers trip of the 138 kV Jigüey/Aguacate - Pizarrete power lineThursday 18-Aug-2005 8:27 Failure of the 138 kV Haina - Itabo power lineFriday 19-Aug-2005 10:56 Low FrequencySaturday 20-Aug-2005 11:05 Low FrequencyWednesday 7-Sep-2005 13:11 Low FrequencyWednesday 21-Sep-2005 22:51 High Frequency. Failure of the 138 kV Bonao II - Canabacoa power lineMonday 29-Oct-2007 0:52 Low FrequencyWednesday 15-Jul-2009 11:34 Low FrequencyWednesday 2-Sep-2009 18:03 Low Frequency. AES Andres Trip caused by 138 kV power line interconection wrong open

LNG NYMEX Henry Hub

CARBON FOB Bolivar

LNG NYMEX Henry Hub vs

UK NBP NG

The graph below shows the behavior of natural gas prices in some international markets in 2010. LNG Nymex Henry Hub demonstrates prices from the United States of America, UK NBP NG demonstrates prices from the United Kingdom and the rest of the prices demonstrate other big LNG markets..

Total System Interruptions 2000-2010

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Nymex LNG UK NBP NG Japan Average South Korea Average Spain Average

Attachments

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AVAILABILITY FACTOR OF A CENTRAL GENERATING UNIT: The quotient between the energy that the Available power of the plant could generate in the period conside-red, which is normally one year, and the energy corresponding to its maximum power during the same.

BAR: That point of the electrical system prepared to deliver and withdraw electricity.

BTU: British Thermal Unit of measurement. It is a unit of heat in the English European System. Its equivalence in the International System (IS) is the Calorie. The prices of Natural Gas are usually expressed in US$/MMBtu. 1 BTU is equivalent to 252 Calories (Cal).

CONTRACTS MARKET: The market for transactions of sale and purchase of electricity based on freely negotiated contracts for supply.

COMBINED CYCLE: a machine composed of two phases: one phase of gas and the other phase of steam. Typically the whole entity consists of a gas turbine, a heat recu-peration boiler, a steam turbine, and one or several electrical generators.

COST OF LACK OF SUPPLY OR ENERGY NOT SERVED: The cost incurred by users, by not having energy available and having to obtain it from alternative sources; or the economic loss derived from the lack of production and sale of goods and services, and the loss of well-being due to the decrease of quality of living in the case of the residen-tial sector. This cost is established annually by means of resolution of the Superintendency of Electricity.

FIRM POWER: The power that can be supplied by each generating units during peak hours, with high security/safety.

FREQUENCY REGULATION: Actions necessary to maintain frequency within the permissible tolerances defined for the system. The OC establishes the regulation para-meters, and the generator companies are responsible for providing service through their control Centers.

FUEL OIL: A petroleum derivative obtained as a residue after the distilling process. Being a fuel, which is heavier than those which can be distilled at atmospheric pressu-re, Fuel Oil is used as a fuel for electrical energy plants, boilers, and ovens.

GAS TURBINE: A machine composed of a compressed air compressor (sic), a turbine especially designed for this purposes, and an electrical generator. The turbine converts thermal energy from fuel which is produced as a result of the expansion of hot gases from the explosion of the mixutre of compressed air, fuel, and flame, into mechanical energy that is used by the electrical generator to produce electricity.

HYDRAULIC TURBINE: A machine that uses kinetic energy and power from water to produce a rotation movement which , transferred through an axis, directly moves a machine or generator that transforms mechanical energy into electrical energy.

LIQUID NATURAL GAS (LNG): Natural Gas processed to be transported in liquid form. It is the best alternative for transporting and storage because when transformed into liquid as atmospheric pressure and –163oC , the liquefaction process reduces the volu-me of gas by 600 times.

MARGINAL CENTRAL UNIT: This refers to the generating unit or units, which at opti-mum load dispatch increase their generation when we demand is marginally increased.

MARGINAL SHORT-TERM COST: The variable costs necessary to produce one addi-tional unit of energy, considering the demand and the generation infrastructure available.

MAXIMUM ANNUAL DEMAND: The maximum gross half our demand, during a calen-dar year, of the total of the generator units of the system, occurring within the system´s peak hours.

NATURAL GAS (NG): A mixture of gases that is frequently found in fossil beds, alone or accompanied by oil. It is composed mainly of methane in quantities greater than 90 to 95%, and in addition , usually contains other gases such as nitrogen, ethane, CO2, and traces of butane or propane , as well as small proportions of inert gases such as carbon dioxide and nitrogen.

NON REGULATED USER (UNR): That user of the electrical service will his monthly demand exceeds the limits established by the Superintendency in order to classified as a public user, and which fulfill the requirements established in the Regulation of the General Electricity Law.

OWN CONSUMPTION: The energy consumed by the auxiliary systems of a central unit or Substation.

PEAK POWER: Maximum power on the annual load curve.

PRIMARY FREQUENCY REGULATION (RPF): Power that a generator units can vary by automatic action of its system in the face of changes in the system’s frequency.

RIGHT OF CONNECTION: The difference between the total annual cost of the trans-mission system and the right of use estimated for the year. The procedure to determine the right of use is established in the Regulation of the General Electricity Law.

SECONDARY FREQUENCY REGULATION (RSF): Power which a generator unit can vary, or modify by automatic or manual action of its system of regulation in a sustained manner.

SELF PRODUCERS: Those enterprises or entities , who have available their own gene-ration for consumption of electricity, independently of their productive process, and who eventually sell their surplus power or electrical energy to third parties.

SPOT MARKET: The market for transactions of short-term sale and purchase of electri-city not based on term contracts was economic transactions are performed at Marginal Short Term Energy Cost and at Marginal Our Cost.

STEAM TURBINE: A machine that transforms thermal energy from fuel into mechanical energy. Through a process of generation of steam produced in a boiler, from which come conditions of high temperature and pressure. The kinetic energy of the steam is used by the turbine mechanically and through this by a generator to produce electricity.

VARIABLE PRODUCTION COST OF A THERMAL ELECTRICAL MACHINE: This corres-ponds to the cost of fuel placed in the plants, and used in the production of electrical energy, multiplied by the average specific consumption of the machine plus the varia-ble non-fuel cost.

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HIGH & LOW HEATING VALUES OF SOME FUELS

PCS PCI PCS PCI PCS PCI

Kcal/Kg Kcal/Kg Kcal/L Kcal/L Kj/L Kj/L

Liquid Fuel

Petroleo 10,800 10,008 9,374 8,686 39,250 36,371

Diesel Oleo 10,750 10,000 9,159 8,680 38,350 36,343

Fuel Oleo 10,090 9,583 10,217 8,318 42,780 34,827

Petroleo’s Milkshake Gas 11,750 11,000 6,486 9,548 27,160 39,977

PCS PCI PCS PCI

Kcal/m3 Kcal/m3 Kcal/m3 Kcal/m3

Gaseous Fuel

Wet Natural Gas 10,454 8,240 43,770 34,500

Dry Natural Gas 9,256 8,500 38,750 35,584

PCS PCI PCS PCI

Kcal/Kg Kcal/Kg Kj/Kg Kj/Kg

Solid Fuels

Vegetable Coal 7,500 6,500 30,560 27,213

Coque’s Vegetable Coal 7,300 6,998 30,560 29,299

ENERGY’S UNITS

J Cal Btu KVh

Joulie J 1 0.2388 0.009478 0.000000277

Calories Cal 4.1869 1 0.0039683 0.000001163

Term Unit British Btu 1055.06 252 1 0.00029307

Kilowatt / Hours KVh 3600000 8598000 3412.14 1

DENSITY’S UNITS

Kg / m3 Lb / Pie 3 Lb / Gl (UK) Lb / Gl (US)

Kilograms / Cubic Meters Kg / m3 1 0.062428 0.010022 0.008345

Pound / Cubic Feet Lb / Pie 3 16.0185 1 0.160544 0.133681

Pound / Gallon UK Lb / Gl (UK) 99.7764 6.22884 1 0.83268

Pound / Gallon USA Lb / Gl (US) 119.826 7.48047 1.20094 1

MASS’S UNITS

Kg Ton. Large Ton Short Ton Pound (Lb

Kilogramo Kg 1 0.001 0.000984 0.001102 2.2046

Ton T 1000 1 0.984207 1.10231 2204.62

Large Ton TL 1016 1.016 1 1.12 2240

Short Ton TC 907 0.907 0.892857 1 2000

Pound Lb 0.4535 0.0004535 0.000446429 0.0005 1

VOLUME’S UNITS

cm3 M3 Feet 3 Inch 3 Gal (UK) Gal (USA) BBL Liters (Lt)

Cubic Centimeters cm3 1 0.000001 0.0000353 0.06102 0.00021997 0.00026417 6.2899E-06 0.006102

Cubic Meters M3 1000000 1 35.3147 61000 219.969 264.17 6.28976 1000.028

Cubic Feet Feet 3 28320.589 0.028317 1 1727.556 6.2288 7.4805 0.178107 28.321

Cubic Inch Inch 3 16.387 0.00001639 0.00057863 1 0.00360465 0.00432898 0.0001031 0.0163866

Gallon Gal (UK) 4546.09 0.004546 0.160544 277.42 1 1.20094 0.028594 4.54596

Gallon Gal (US) 3785.41 0.003785 0.133681 231 0.83268 1 0.02381 3.78533

Barrels BBL 158984 0.158988 5.6146 9698.024 34.9726 42 1 158.984

Liters Liters (Lt) 1000.028 0.001 0.03531 61.0255 0.219976 0.264178 0.0063 1

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CONSUMER PRICE INDEX USA 2000 - 2010

Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC2000 168.8 169.8 171.2 171.3 171.5 172.4 172.8 172.8 173.7 174.0 174.1 174.0 2001 175.1 175.8 176.2 176.9 177.7 178.0 177.5 177.5 178.3 177.7 177.4 176.7 2002 177.1 177.8 178.8 179.8 179.8 179.9 180.1 180.7 181.0 181.3 181.3 180.9 2003 181.7 183.1 184.2 183.8 183.5 183.7 183.9 184.6 185.2 185.0 184.5 184.3 2004 185.2 186.2 187.4 188.0 189.1 189.7 189.4 189.5 189.9 190.9 191.0 190.3 2005 190.7 191.8 193.3 194.6 194.4 194.5 195.4 196.4 198.8 199.2 197.6 196.8 2006 198.3 198.7 199.8 201.5 202.5 202.9 203.5 203.9 202.9 201.8 201.5 201.8 2007 202.4 203.5 205.4 206.7 207.9 208.4 208.3 207.9 208.5 208.9 210.2 210.0 2008 211.1 211.7 213.5 214.8 216.6 218.8 220.0 219.1 218.8 216.6 212.4 210.2 2009 211.1 212.2 212.7 213.2 213.9 215.7 215.4 215.8 216.0 216.2 216.3 215.9 2010 216.7 216.7 217.6 218.0 218.2 218.0 218.0 218.3 218.4 218.7 218.8 219.2

AVERAGE EXCHANGE RATE TO BUY DOLLARS 2000 - 2010

Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE

2000BUY 15.98 16.05 16.05 16.05 16.05 16.05 16.05 16.05 16.38 16.45 16.49 16.53 16.18 SALE 15.98 16.05 16.05 16.05 16.05 16.05 16.05 16.05 16.38 16.45 16.49 16.53 16.18

2001BUY 16.62 16.66 16.66 16.66 16.66 16.66 16.66 16.66 16.66 16.66 16.76 16.97 16.69 SALE 16.62 16.66 16.66 16.66 16.66 16.66 16.66 16.66 16.66 16.66 16.76 16.97 16.69

2002BUY 17.05 17.15 17.15 17.56 17.56 17.56 17.56 17.56 17.56 17.56 17.56 17.56 17.45 SALE 17.05 17.15 17.15 17.70 17.76 17.76 17.76 17.76 17.76 17.76 17.76 17.76 17.59

2003BUY 17.56 18.17 22.72 23.78 25.60 28.89 34.45 33.72 31.70 34.91 39.74 37.44 29.06 SALE 17.76 18.37 22.92 23.98 25.80 29.09 34.85 34.13 32.25 35.23 40.24 37.82 29.37

2004BUY 46.09 49.23 46.52 44.35 46.92 48.12 44.84 41.25 36.95 32.27 29.56 28.86 41.25 SALE 46.64 50.44 47.18 44.81 47.69 48.67 45.56 42.11 37.62 32.98 30.13 29.33 41.93

2005BUY 29.84 28.85 28.30 28.25 28.70 28.90 28.93 29.00 30.42 32.41 33.25 33.12 30.00 SALE 30.40 29.22 28.60 28.54 28.91 29.08 29.06 29.13 30.82 32.70 33.54 33.39 30.28

2006BUY 34.56 34.17 32.56 32.11 32.49 32.77 32.75 32.63 32.95 33.47 33.56 33.09 33.09 SALE 34.84 34.44 32.85 32.33 32.73 32.94 32.91 32.80 33.12 33.66 33.69 33.30 33.30

2007BUY 33.70 33.36 32.79 32.23 32.14 32.42 32.99 32.90 33.31 33.46 33.41 33.52 33.02 SALE 33.90 33.51 32.96 32.40 32.29 32.57 33.14 33.05 33.46 33.59 33.53 33.66 33.17

2008BUY 33.76 33.83 33.92 34.03 34.01 34.16 34.27 34.68 34.83 34.99 35.19 35.26 34.41 SALE 33.89 33.96 34.04 34.14 34.13 34.27 34.39 34.80 34.95 35.09 35.32 35.39 34.53

2009BUY 35.37 35.56 35.67 35.83 35.95 35.92 35.98 36.03 36.06 36.09 36.09 36.09 35.89 SALE 35.49 35.65 35.77 35.92 36.04 36.00 36.07 36.10 36.13 36.16 36.17 36.16 35.97

2010BUY 36.11 36.19 36.30 36.42 36.70 36.73 36.80 36.89 36.98 37.21 37.22 37.31 36.74 SALE 36.19 36.27 36.37 36.51 36.79 36.81 36.88 36.99 37.07 37.29 37.30 37.40 36.82

Source: U.S. Bureau of Labor Statistics

Fuente: Banco Central de la República Dominicana

statistical report 2012

Documents

aes dominicana background13

aes andres

aes corporation

aes valuesaes dominicana12

presidentaes dominicana

fuel inventory

fuel imports25

production of electricity