British Petroleum/TransCanada
If you can't read please download the document
description
Transcript of British Petroleum/TransCanada
- 1. Cherry Point Cogeneration Project Overview Presented to NWPPC Cogeneration Round Table June 24, 2003
- 2. TransCanada Corporation
- Competitively positioned in natural gas transmission & power generation services
- $20 billion in Assets ($C at Dec 31, 2001)
- A- Credit Rating (S&P)
- TRP trades on the TSE and NYSE
- Headquartered in Calgary, Alberta, Canada
- 3. TransCanada Corporation In North America, TransCanada ships the largest volumes the longest distance in the coldest weather TransCanada Williams Kinder Morgan PG&E El Paso Duke Energy Enron MidAmerican
- 4. TransCanadas Power Portfolio
- 19 Plants, 3 PPAs
- 4,150 MW operational
- 1,770 MW in development
- 5. TransCanadas Business Drivers
- Advantaged Assets relative to CC
-
- Similar Economy of Scale
-
- Similar Dispatch Flexibility
-
- Lower Variable Costs
- Responsive to Market
-
- Right Timing
-
- Right Size
-
- Right Location
- Stable, Low Risk Growth
-
- Long Term contracts with credit-worthy counter parties
-
- No surprises
- 6. Cherry Point Project Overview
- 720 MW Combined Cycle Cogeneration Plant
-
- 3 F-Class gas turbines
-
- 1 Steam Turbine
-
- Fully Dispatchable (Back-up Boilers)
- Host Site: BP Cherry Point Refinery
-
- 225,000 bbl/d state-of-art refinery; Solomon top quartile performer
-
- BP North America: AA credit
- Project Structure
-
- Long term steam and power to BP Refinery
-
- 450 MW of power to 3-P contracts
-
- Balance of output to TC trading operations
- 7. Cherry Point Project Overview (cont.)
- Exclusivity: Q4, 2002
- EPC Contractor Selected: Q4, 2002
- Site Release: Q4, 2003
-
- Third party power purchase agreements (PPAs)
-
- EFSEC Permit
-
- Firm Transmission Agreements
- Commercial In-Service: Q2, 2006
- 8. Cherry Point Advantages Existing Infrastructure
- 9. Cherry Point Advantages Minimize Environmental Impact
-
- Reduce air emissions from Cherry Point complex
-
- Reduce water withdrawal from Nooksack River
-
- No new pipelines or transmission lines required
-
- Build on existing industrial site
-
- 10. Cherry Point Advantages Competitive Price
-
- Heat rate advantage ~ 0.7 MMBtu/MWh better than CC Savings of $2.80/MWh 1
-
- Ferndale pipeline tolls ~ 50% lower than Northwest Pipe Savings of $1.40/MWh
-
- Project can be dispatched off-line to take advantage of low hydro prices
-
- Building in down market; e quipment and EPC costs at lowest point in years.
-
- 11. PURPA - Qualifying Facility Status Cherry Point Cogeneration Project Fuel Input 5440 MMBtu/hr Useful Thermal Output 700 MMBtu/hr Useful Power Output 720 MWh or 2450 MMBtu/hr Useful Thermal Energy Purpa Efficiency Cherry Point 13% 51% Purpa Threshold >5% = >45% Meets Threshold
- 12. Cherry Point is an Advantaged Generation Asset Cherry Point
Layout, looking NE
- Heat rate advantages vs. stand-alone CC
- Dispatchable plant
- Economy of scale
- Gas supply infrastructure advantages
- Strong, committed project proponents
- Cogen emissions offset by refinery reductions
- Water cooled/water reuse plan
- 13. The Home Stretch - Ensuring Success!
- Remaining basic success factors reside with BPA:
- Transmission
- Market Clarity
-
- BPAs role as resource provider post-2006
-
- Price of BPA hydro power post- 2006
- Innovative solutions also reside with BPA:
- Return of Canadian Entitlement
- Integration and dispatch of Cherry Point for BPA preference customers
- 14. Cherry Point Cogeneration Project Overview
-
-
-
- For more information contact:
-
-
-
-
-
- Craig Martin
-
-
-
-
-
- Manager, Power Marketing & Development
-
-
-
-
-
- tel: 403.920.2086
-
-
-
-
-
- email: [email protected]
-
-
-
