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Highlights

Highlights

Building for Tomorrow

Building for Tomorrow

Key Projects

Alberta System

This 23,705 kilometre (14,730 mile) pipeline moves approximately 11 Bcf/d, making it one of the largest in North America. It gathers natural gas for use in Alberta and delivers it to provincial border points for export to North American markets. In 2008, the Alberta System gathered 66 per cent of the natural gas produced in Western Canada.

Canadian Mainline

This 14,101 kilometre (8,762 mile) pipeline extends east from the Alberta border to Quebec and connects with other natural gas pipelines in Canada and the United States. Across the Canadian prairies, the system consists of five parallel lines capable of transporting approximately 7.0 Bcf/d.

ANR Pipeline System and ANR Storage

This 17,000 kilometre (10,563 mile) pipeline has a peak day capacity of 6.8 Bcf/d. It delivers natural gas from producing fields in Texas, Oklahoma, Louisiana and the Gulf of Mexico to markets in Wisconsin, Michigan, Illinois, Ohio and Indiana. ANR also owns and operates 250 Bcf of regulated natural gas storage capacity in Michigan.

GTN, Northern Border and Great Lakes

These three natural gas pipelines include a total of 7,828 kilometres (4,864 miles) of pipe and deliver natural gas from Western Canada to premium markets across North America.

Sundance and Sheerness

Through these power purchase arrangements in Alberta and a number of other wholly-owned plants, we market 20 per cent of the province's power.

Bruce Power

$18 billion capital program underway

Canada's first private nuclear generating station, this facility currently produces 4,700 MW of power or more than 20 per cent of Ontario's electricity.

The $3.4 billion refurbishment of Bruce A Units 1 and 2 is expected to be completed in 2010. TransCanada's share of the capital investment is approximately $1.7 billion.

When complete, the two units will be capable of delivering 1,500 MW of electricity to the Ontario market — enough to power one and a half million homes. Bruce Power is made up of two generating stations — A and B — with each consisting of four generating units. TransCanada owns 48.9 per cent of Bruce A and 31.6 per cent of Bruce B.

Ravenswood Generating Station

Located in Queens, New York, the 2,480 MW power plant is capable of supplying 20 per cent of New York City's power needs.

TC Hydro

13 hydroelectric facilities on the Connecticut and Deerfield rivers in New Hampshire, Vermont and Massachusetts produce 583 MW of power.

Keystone Pipeline System

Keystone will deliver 1.1 million barrels of oil per day to U.S. markets

This US$12 billion pipeline will stretch 6,176 kilometres (3,837 miles) from Hardisty, Alberta to refining centres in the U.S. Midwest and Gulf Coast. When completed, Keystone will be one of the largest oil delivery systems in North America with the capacity to move 1.1 million barrels of oil a day to an American market looking for a growing and reliable supply. In 2008, TransCanada agreed to increase its ownership interest up to 79.99 per cent of Keystone.

Alberta System North Central Corridor Expansion

Stretching 300 kilometres (186 miles) across northern Alberta, the $925 million North Central Corridor expansion will optimize natural gas flows on the Alberta System and allow TransCanada to address changing supply and demand dynamics in the province.

Bison Pipeline Project

The 480 kilometre (298 mile) Bison Pipeline project will move natural gas from the Powder River Basin in Wyoming to the Northern Border System in North Dakota, tapping into a growing supply of U.S. Rockies natural gas for Midwest markets in the United States. The US$500 – US$600 million initiative is expected to begin shipping natural gas in late 2010.

Groundbirch and Horn River Pipeline Projects

Groundbirch and Horn River are both designed to transport natural gas to market from shale gas deposits in northeastern British Columbia. TransCanada held a successful open season late in 2008 for the Groundbirch line, with commitments reaching 1.1 Bcf/d by 2014. The 77 kilometre (48 mile) project should be operational in late 2010. The company continues to work with potential shippers on the Horn River line. It is expected to start shipping gas in early 2011.

Northern Pipeline Projects

Billed as the largest construction project in U.S. history, the US$26 billion (2007 dollars) Alaska Pipeline would transport natural gas from untapped reserves in Prudhoe Bay in the North to Alberta, where it would integrate with the Alberta System to provide access to diverse markets across North America. TransCanada has received a license from the Alaska government to advance the 2,760 kilometre (1,715 mile) line and is committed to moving the project through an open season in 2010 and the subsequent regulatory process. If successful, the project could be sanctioned in 2014, with natural gas anticipated to start flowing in 2018. In Canada, TransCanada and the other co-venture companies involved in the Mackenzie Gas Pipeline project continue to pursue approval of the proposed 1,200 kilometre (746 mile) pipeline project, focusing on obtaining regulatory approval and the Canadian government's support of an acceptable fiscal framework.

Portlands Energy and Halton Hills

Construction of the Portlands Energy Centre is nearing completion and should be fully operational early in 2009. The 550 MW facility can supply 25 per cent of Toronto's electricity needs. This high-efficiency power plant is 50 per cent owned by TransCanada and is expected to cost $730 million. Work on the $670 million Halton Hills Generating Station is 50 per cent complete. The 683 MW facility should be operational late in 2010. Located 40 kilometres (25 miles) west of Toronto, Halton Hills will generate enough power for 600,000 homes.

Coolidge

Bruce Power will add 1,500 MW to the Ontario market

TransCanada continues to establish its energy footprint in the U.S. with a 575 MW power project in Coolidge, Arizona. The US$500 million plant will provide a quick response to peak power demands, have reserve capacity, and the ability to add power quickly to support reliability in the region. Construction is expected to begin in the summer of 2009 and be complete in 2011.

Cartier and Kibby

The Cartier and Kibby Wind projects will generate clean, renewable electricity for thousands of families. Cartier is the largest wind power project in Canada, valued at $1.1 billion. Its six phases will ultimately generate 740 MW of power. Three phases are now complete, with the remainder coming on stream by 2012. TransCanada owns 62 per cent of Cartier. Residents of New England will ultimately see 44 wind turbines built between 2009 and 2010 as part of the US$320 million Kibby project. This 132 MW initiative will be the largest wind power development in the state, providing enough 'green energy' for 50,000 homes in the state of Maine.

Attractive, low-risk projects generating long-term returns for our shareholders.

Today, TransCanada is in the midst of an $18 billion capital program that will see a number of attractive, low-risk energy infrastructure projects completed over the next four years. Each project has been commercially secured through long-term contractual arrangements. These arrangements, along with our expertise in developing, building and operating large-scale energy infrastructure gives us confidence these projects will generate attractive, long-term returns for our shareholders. Looking forward, we will continue to cultivate a high quality portfolio of future growth opportunities that will create additional value for decades to come.