British Petroleum/TransCanada
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- 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)
- TRP trades on the TSE and NYSE
- Headquartered in Calgary, Alberta, Canada
A leading North American energy company
- 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
* Long Term PPAs Bear Creek 80MW MacKay River 165MW Williams Lake
66MW Sundance A&B* 913MW Redwater 40MW Carselan d 80MW Cancarb
27MW Nipigon 40MW Calstock 35MW Kapuskasing 40MW Tunis 43MW
Sheerness* 100MW North Bay 40MW Curtis Palmer 60MW Castleton 64MW
Ocean State 560MW Bruce Power LP 1500MW ManChief 300MW Cherry Point
720MW Becancour 550MW Portlands 500MW - Active Plant - In
Development - Market Area
- 5. TransCanadas Business Drivers
- Advantaged Assets relative to CC
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- Similar Dispatch Flexibility
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- Long Term contracts with credit-worthy counter parties
- 6. Cherry Point Project Overview
- 720 MW Combined Cycle Cogeneration Plant
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- Fully Dispatchable (Back-up Boilers)
- Host Site: BP Cherry Point Refinery
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- 225,000 bbl/d state-of-art refinery; Solomon top quartile
performer
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- BP North America: AA credit
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- Long term steam and power to BP Refinery
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- 450 MW of power to 3-P contracts
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- Balance of output to TC trading operations
Seattle Cherry Point Vancouver BP Cherry Point Refinery Proposed
Cogeneration Plant
- 7. Cherry Point Project Overview (cont.)
- EPC Contractor Selected: Q4, 2002
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- Third party power purchase agreements (PPAs)
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- Firm Transmission Agreements
- Commercial In-Service: Q2, 2006
Project Schedule:
- 8. Cherry Point Advantages Existing Infrastructure
- 9. Cherry Point Advantages Minimize Environmental Impact
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- Reduce air emissions from Cherry Point complex
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- Reduce water withdrawal from Nooksack River
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- No new pipelines or transmission lines required
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- Build on existing industrial site
Cherry Point Project Rendering looking SE from Grandview Road
- 10. Cherry Point Advantages Competitive Price
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- Heat rate advantage ~ 0.7 MMBtu/MWh better than CC Savings of
$2.80/MWh 1
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- Ferndale pipeline tolls ~ 50% lower than Northwest Pipe Savings
of $1.40/MWh
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- Project can be dispatched off-line to take advantage of low
hydro prices
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- Building in down market; e quipment and EPC costs at lowest
point in years.
1 Based on $4.00 /MMBtu gas price
- 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
- Gas supply infrastructure advantages
- Strong, committed project proponents
- Cogen emissions offset by refinery reductions
- Water cooled/water reuse plan
The economy of scale and flexibility of a large combined cycle
plant with a cogeneration heat rate
- 13. The Home Stretch - Ensuring Success!
- Remaining basic success factors reside with BPA:
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- BPAs role as resource provider post-2006
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- 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
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- For more information contact:
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- Manager, Power Marketing & Development
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- email: craig_martin@transcanada.com