Statistical Report 2011 by AES Dominicana

STATISTICAL REPORT

Wholesale Electric Market

CONTENTS

Letter from the President Letter from the President

AES Dominicana

Brief History of the Dominican Electric Sector

Generation

Transmission

Electricity Distribution

Energy Balance

Capacity Balance

Maximum Demand

Energy Supply by Fuel Type

International Fuel Prices

Electricity Spot Price

Capacity Spot Price and Connection Right

Frequency Regulation Service

Non-Regulated Users Market

Contract Market

AES Values

AES Dominicana Background

Profile of the Group

Power Generation Units

Fuel Reception Facilities

Natural Gas Sales

Energy Balance

Capacity Balance

Glossary

Non-Regulated Users

Tables and Measures

Fuel Inventory and Consumption

Fuel Imports

Operational Indicators

Relevant Events

Attachments

2011 STATISTICAL REPORT

Letter from the President It's with great pleasure that we present you the 2011 AES Dominicana Statistical Report, highlighting its main assets, operational performance, other lines of business and the electricity market overall.

At the end of 2011, AES Dominicana contributed an average of 39% of all the energy that was demanded by the National Electric Interconnected System.

At the end of 2011, AES Dominicana contributed an average of 39% of all the energy that was demanded by the National Electric Interconnected System (SENI) with a total of 4.913 GWh injected, demonstrating to be the leader in the national electricity market. 71% of this energy was traded in the Contract Market to Distribution Companies, causing significant savings to the Dominican government by providing the cheapest energy in the National System. The remaining 29% of the energy injected was traded in the Non-Regulated Users Market (20%) and the Spot Market (9%). Our units reached operational milestones, among those were Los Mina V and VI which generated 1.361 GWh with natural gas, exceeding an annual record high as well as a high rate equivalent availability factor, which AES ANDRES also accomplished; and lastly ITABO decreased its equivalent outage factor to 4% due to the preventive work carried out on its units. These are just some examples of what we would call a successful year for AES Dominicana, improving the quality of life for Dominicans. AES Dominicana has been a key instrument in the diversification process of the fuel matrix in the power sector and the energy matrix of the Dominican Republic, mitigating the country's dependence on petroleum based fuels. During 2011, natural gas registered record sales and showed continuous growth, causing AES Dominicana for the first time since the terminal initiated its operations, to purchase a spot LNG cargo in the international market to meet the growing demand. AES Dominicana shows its commitment to the country by strengthening its position using natural gas and efficiently restoring the use of coal. Our culture of operational excellence and asset management allows AES Dominicana to contribute to the sustainable development of the country, the environment and communities we serve.

Marco De la Rosa President AES Dominicana 9

2011 STATISTICAL REPORT

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

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.

aes dOMINICANA

AES Dominicana Background The first investment of AES in the Dominican Republic was the purchase of DPP in 1997 from NGC, an asset that was in their power as a result of their merger with Destec companies. DPP is the owner of Los Mina V and Los Mina VI, two open cycle gas turbines of 118 MW each. 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 2000, AES confirmed its commitment to the long term development of the Dominican Republic by constructing AES ANDRES. The project included a combined cycle of 319 MW, a liquefied natural gas terminal and a gas pipeline connecting to 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, S.A. power plant. Since May 1st, 2003, Dominican Power Partners operates to supply its electricity sales contract with EDEESTE, selling its excess generation and buying what it needs in the spot market. Also in 2003, AES ANDRES began its operations and became the most efficient power station of Latin America, representing a jump towards sustainable development for the country using clean energy. This new investment improved the strategic position of the country that formerly depended 90% on petroleum derivatives to supply its electricity needs. In 2006, AES Dominicana acquires another 25% of the ITABO, S.A. equity, formerly owned by El Paso. AES, now with 50% of ITABO’s equity, takes control of the operative and administrative areas.

AES Dominicana

2011 STATISTICAL REPORT

Profile of the Group AES 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 system. AES Dominicana has two deep-sea port infrastructures: Itabo’s and Andres’s International Piers, used to discharge the coal and 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 industry in the Dominican Republic. AES Dominicana supports the growth of its business by standing upon a strong foundation consisting of its code of conduct, corporate social responsibility, environmental care and its people, which are the most valuable resources.

As a business group, AES Dominicana combines a global perspective with deep local knowledge and a relentless commitment to operational excellence.

AES Dominicana

2011 STATISTICAL REPORT

Power Generation Units Technical details of AES Dominicana power generation units.

DPP Installed Capacity:

2 x 118 MW

Technology:

Open Cycle Gas Turbine (OCGT)

AES ANDRES Installed Capacity:

319 MW

Technology:

Combined Cycle

Primary Fuel: Natural Gas (NG) Commercial Operation Date: December 2nd, 2003 Gas Turbine Manufacturer: Mitsubishi Gas Turbine Capacity: 198 MW Gas Turbine Speed: 3,600 rpm Inlet Heat Recovery Steam Generator Temperature: 610 ºC Gas Turbine Generator Manufacturer: Mitsubishi Gas Turbine Generator Nominal Capacity: 218.5 MVA Gas Turbine Generator Nominal Voltage: 18 kV Gas Turbine Generator Cooling System: Air Steam Turbine Manufacturer: Hitachi Steam Turbine Capacity: 121 MW Steam Turbine Speed: 3,600 rpm Steam Pressure: 124 kg/cm² Steam Temperature: 568 ºC Steam Turbine Generator Manufacturer: Siemens Steam Turbine Generator Nominal Capacity: 134 MVA Steam Turbine Generator Nominal Voltage: 13.8 kV Steam Turbine Generator Cooling System: Air Advantages: Low Environmental Impact and More Energetic Efficiency

Primary Fuel: Natural Gas (NG) Commercial Operation Date: May 19th 1996 Manufacturer: Westinghouse Turbine Speed: 3,600 rpm Turbine Stages: Four (4) Compressor Stages: Nineteen (19) Outlet Gas Temperature: 630 ºC Generator Nominal Capacity: 2 x 142 MVA Generator Nominal Voltage: 13.8 kV Generator Speed: 3,600 rpm Generator Cooling System: Air Advantages: Fast Manufacture, Installation and Low Environmental Impact

AES Dominicana

2011 STATISTICAL REPORT

Fuel Reception Facilities AES ANDRES’s International Pier

ITABO 1 Installed Capacity:

128 MW

Technology:

Steam Turbine

Primary Fuel: Mineral Coal Secondary Fuel: Fuel Oil 6 Tertiary Fuel: Fuel Oil 2 Commercial Operation Date: July 17th, 1984 Turbine Manufacturer: Brown Bovery Company Turbine Speed: 3,600 rpm Steam Pressure: 141 kg/cm² Steam Temperature: 535 ºC Generator Manufacturer: Foster Wheeler Generator Nominal Capacity: 150.6 MVA Generator Nominal Voltage: 13.8 kV Generator Cooling System: Hydrogen Advantages: Provides Economic Base Electricity Generation

ITABO 2 Installed Capacity:

132 MW

Technology:

Steam Turbine Primary Fuel: Mineral Coal Secondary Fuel: Fuel Oil 6 Tertiary Fuel: Fuel Oil 2 Commercial Operation Date: May 10th, 1988 Turbine Manufacturer: General Electric Turbine Speed: 3,600 rpm Steam Pressure: 146 kg/cm² Steam Temperature: 540 ºC Generator Manufacturer: General Electric Generator Nominal Capacity: 155.3 MVA Generator Nominal Voltage: 13.8 kV Generator Cooling System: Hydrogen Advantages: Provides Economic Base Electricity Generation 20

AES ANDRES Power Station is located at Boca Chica, just fifteen (15) minutes from Santo Domingo. The power station has a pier and a terminal for liquefied natural gas unloading and it also has the capacity to receive Fuel Oil #2.

Liquefied Natural Gas Terminal Inside the facility, the terminal has an unloading ship system that consists of three (3) arms with a 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 from liquid to gas 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 inner pressure at an atmospheric level.

AES ANDRES – DPP Natural Gas Pipeline 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 km Pipe Diameter: 12 inches Max Pressure: 100 bar Average Pressure: 50 bar Control Valves Station: Five (5) In 2011, the Transcontinental Electricity Generating Company (SEABOARD) acquired ESTRELLA DEL MAR II, a power plant that runs with natural gas. In December of the same year, a TIE-IN connection was added from DPP to SEABOARD, allowing this new unit to use the NG pipeline to obtain the necessary fuel to start its operations. 21

AES Dominicana

Cryogenic Distribution Terminal In 2009, AES Dominicana decided to invest in the first LNG tank loading terminal in Latin America, for the distribution of liquefied natural gas directly to other customers who are not AES. The advantage of using liquefied natural gas is the ability to carry higher energy content to distant locations without incurring in losses during transportation.

2011 STATISTICAL REPORT

Natural Gas Sales

The LNG tank loading terminal has two loading bays (with the possibility of doubling the capacity) and a loading rate of 68 m3 / h, which means that the average customer service time (from admission to the complex to the departure) is approximately one hour.

ITABO, S.A. International Pier

Since 2007, two years after AES ANDRES signed its first natural gas supply agreement with a local distribution company; AES Dominicana has been at the forefront of the business in selling natural gas, opening the door to nationwide distribution into new markets that previously could not enjoy the advantages of this fuel. Today, AES ANDRES is the only distribution terminal of liquefied natural gas in the Dominican Republic, as well as the first to be installed in Latin America. This adds value by contributing to the evolution and diversification of the national energy matrix. The International Pier of ITABO is located in the coastal area of the ITABO power plant in the municipality of Bajos de Haina in the province of San Cristobal. The pier is located next to the western port of Haina, approximately 8 kilometers southwest of Santo Domingo’s western quadrant.

The following chart shows the percentage of natural gas in 2011 that AES Andres sold in the Dominican market separated in three economic sectors: Industrial, Electricity Generation and Transportation (Natural Gas Vehicle).

Since 2006, ITABO International Pier has been operating as a reception point for mineral coal, which is utilized in its vapor units, adding a greater degree of autonomy to the process and reducing the overall cost of coal. The pier’s shape extends 535 meters into the sea. It has a system to transport solids with the capacity to load and unload bulk products. In addition, it has a mooring system with six (6) dolphins, four of which serve for the ship’s arrival and two for the ship’s engagement to the pier. It also has a signal system for the approaching vessels which are located in two towers with adjacent lamps, as well as water lighting tracks and dolphin lighting systems. Main Characteristics: • • • 22

Fourteen (14) meters deep: 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. 23

AES Dominicana

2011 NATURAL GAS SALES BY USE

2011 STATISTICAL REPORT

NatuRAl Gas sales to Third Parties [TBtu]

4,459,796.77 mmbtu

2007

2008

2009

2010

2011

4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0

90% Electricity Generation 5% GNV 5%

Industrial

The following graph shows the monthly natural gas sales by economic sector during 2011.

In the chart above we can see the huge take-off that the natural gas market had in 2011. According to the projected outcome of the nomination process for 2012, it is expected that third parties demand will increase by more than double compared to 2011.

2011 MONTHLY NATURAL GAS SALES BY FINAL CONSUMPTION [MMBtu] NGV

Generaci贸n El茅ctrica

Industrial

500,000 400,000 300,000 200,000 100,000 0

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

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, PLATERGAS, PROPAGAS and TROPIGAS.

AES Dominicana

Energy Balance

2011 STATISTICAL REPORT

2011 ENERGY SALES [ 5,146 GWh]

The table below details AES Dominicana’s 2011 monthly balances of energy production, energy purchases and energy sales through contracts and spot market transactions.

2011 AES DominicanA Energy Balance [GWh] AES ANDRES JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2011 CONTRACT SALES 30.0 30.0 60.0 EDENORTE 24.5 22.0 24.8 24.7 26.3 26.4 26.7 27.2 39.8 46.5 42.3 42.5 373.7 EDEESTE 14.0 10.0 - 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 114.0 EDESUR 11.3 8.1 2.0 1.6 35.9 16.5 4.5 4.9 4.5 3.7 3.1 8.9 105.0 DPP 12.5 17.2 29.7 ITABO, S.A. 3.2 3.1 3.6 3.3 3.5 3.4 3.3 3.3 3.3 3.6 3.4 3.4 40.5 SEABOARD 5.9 27.0 27.2 23.7 34.8 44.9 43.5 50.2 48.1 50.3 355.7 FALCON 44.2 44.3 53.8 49.8 53.6 52.0 46.3 46.2 46.7 48.3 46.7 40.7 572.8 UNR CONTRACT PURCHASES 5.5 1.1 6.6 ITABO, S.A. SPOT SALES/(SPOT PURCHASES) 39.6 31.7 (15.2) 66.3 27.5 35.0 59.9 33.7 27.7 24.7 19.6 20.9 371.4 173.7 165.4 75.0 182.7 183.9 167.1 185.6 170.2 175.6 187.0 173.3 176.7 2,016.1 ANDRES PRODUCTION

Contract Sales Spot Sales

11 %

2011 contract sales [4,597 GWh] Electricity Distribution Companies Sales

ITABO, S.A. CONTRACT SALES 62.9 58.9 65.1 63.2 66.7 67.8 69.0 69.5 69.2 71.6 66.5 64.7 795.0 EDESUR 43.4 39.9 44.1 43.7 45.8 47.7 49.5 49.5 47.4 48.5 44.4 43.0 546.9 EDENORTE 24.5 22.0 24.8 24.7 26.3 26.4 26.7 27.2 26.8 27.3 24.9 25.0 306.6 EDEESTE 5.5 1.1 6.6 ANDRES 0.2 0.2 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2.3 UNR CONTRACT PURCHASES 12.5 17.2 29.7 ANDRES 7.2 2.9 1.3 2.2 13.7 MONTERIO FALCONDO 8.9 7.2 (9.7) (74.3) (54.9) (3.0) (57.7) 16.6 29.8 (77.8) SPOT SALES/(SPOT PURCHASES) 27.0 15.3 16.9 143.8 117.2 149.8 138.5 146.2 132.4 71.0 91.5 140.6 89.8 152.6 162.7 1,536.2 ITABO PRODUCTION DPP CONTRACT SALES 102.8 92.5 104.1 103.7 110.4 111.0 112.0 114.2 112.6 114.8 104.6 105.0 1,287.7 EDEESTE CONTRACT PURCHASES 11.3 8.1 2.0 1.6 35.9 16.5 4.5 4.9 4.5 3.7 3.1 8.9 105.0 ANDRES 6.7 10.1 13.8 13.3 10.2 12.8 14.6 18.6 178.0 SPOT SALES/(SPOT PURCHASES) 18.6 15.9 23.0 20.4 110.1 100.4 125.0 122.4 81.2 104.6 121.2 122.6 118.3 123.8 116.1 114.8 1,360.8 DPP PRODUCTION

89%

Non-Regulated Users Sales Other Agents

76%

13% 12%

Below we will mention key negotiations that occurred in the Electricity Wholesale Market between AES Dominicana and certain agents in the sector during 2011.

AES ANDRES

In January, an energy short-term contract was signed with EDESUR, as well as an energy long-term contract with FALCONDO. In addition, an important increase in Non Regulated User sales occurred during the year.

ITABO, S.A.

In 2011, the contract to sell energy to CDEEE through the units of FALCONDO concluded. This contracts purpose was to increase the generation of the northern portion of the country. The energy transactions with FALCONDO’s units were administered in the Electricity Wholesale Market by ITABO, S.A. In addition, the back-up contracts with AES ANDRES and MONTERIO ended.

AES Dominicana

DPP

The contract whereby DPP sells electricity to EDEESTE continued. Likewise, it maintained a back-up contract with AES ANDRES. During 2011 DPP hit its maximum historic peak generation of 1,360.8 GWh.

Capacity Balance The table below shows 2011’s monthly firm capacity balance, which consists of the purchases and sales of contracted capacity as well as transactions in the spot market of AES Dominicana’s power stations.

2011 AES Dominicana Capacity Balance [mW] AES ANDRES Contract Capacity Sales Firm Capacity Peak Capacity Demand Contract Capacity Purchase Spot Sale / (Spot Purchase)

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 208.14 208.29 273.09 264.50 368.64 268.35 263.27 269.02 291.52 307.86 306.93 298.19 280.58 280.58 280.58 280.58 280.57 280.57 280.57 280.57 280.57 280.58 280.57 280.57 71.65 71.65 74.58 74.58 74.58 74.58 63.86 63.86 63.86 63.86 63.86 63.86 0.79 0.64 (67.09) (58.50) (162.65) (62.36) (46.56) (52.31) (74.80) (91.14) (90.22) (81.48)

2011 277.32 280.57 68.73 (65.47)

ITABO, S.A. Contract Capacity Sales Firm Capacity Peak Capacity Demand Contract Capacity Purchase Spot Sale / (Spot Purchase)

250.00 250.00 250.00 250.00 250.00 250.00 250.00 250.00 250.00 250.00 250.00 250.00 225.90 225.90 225.90 225.90 225.90 225.90 225.90 225.90 225.90 225.90 225.90 225.90 64.97 37.39 0.62 0.62 0.62 0.62 0.62 0.62 0.62 0.62 0.62 0.62 (89.07) (61.49) (24.72) (24.72) (24.72) (24.72) (24.72) (24.72) (24.72) (24.72) (24.72) (24.72)

250.00 225.90 9.04 (33.14)

DPP Contract Capacity Sales Firm Capacity Peak Capacity Demand Contract Capacity Purchase Spot Sale / (Spot Purchase)

210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 210.00 52.19 52.04 51.61 60.19 58.19 56.34 61.42 55.68 57.68 51.84 52.76 61.50 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 0.34 158.14 158.29 158.73 150.15 152.14 154.00 148.92 154.66 152.66 158.50 157.57 148.84 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

210.00 55.95 0.34 154.38 0.00

Non-Regulated Users Non-Regulated Users (NRUs) are public service users whom after obtaining the authorization to become a NRU are able to obtain electricity services through contracts with any generation or distribution company. Through AES ANDRES, AES Dominicana continues strengthening its position in the Non-Regulated User Market with competitive prices and quality services. Furthermore, the Commercial and Operational areas continued to improve their services by focusing on its customer’s needs, which in turn, lead to further diversification of our portfolio. In 2011, two new contractual relationships were developed. These are: AERODOM (Puerto Plata) and CDH-CARREFOUR, which represented, along with the other NRU’s in our portfolio, a monthly consumption of approximately 47.7 GWh. During the same period we also renewed the contracts with EDITORA PADILLA, BANCO LEON and FERRETERIA OCHOA.

2011 STATISTICAL REPORT

The following table shows AES ANDRES’ and ITABO, S.A.’s non-regulated users’ consumption during 2011.

2011 AES DOMINICANA NON-REGULATED USERS DEMAND [GWh] JAN AES ANDRES AERODOM (PUERTO PLATA) AEROPUERTOS DOMINICANOS SIGLO XXI ALAMBRES DOMINICANOS ARTICULOS DE PIEL LOS FAVORITOS BANCO LEÓN CARIBBEAN INDUSTRIAL PARK CDH-CARREFOUR CÉSAR IGLESIAS EDITORIAL PADILLA ENVASES ANTILLANOS FERRETERÍA OCHOA HAMACA BEACH RESORT HIELOS NACIONALES II HOTEL BARCELO CAPELLA INCA INCA - ZF LA ISABELA INDUVECA INVERSIONES COSTA CARIBE LA FABRIL LADOM LAFZID LISTÍN DIARIO LM INDUSTRIES MALLA & CO. MOLINOS DEL OZAMA MULTICENTRO CHARLES DE GAULLE MULTICENTRO CHURCHILL MULTIFORM MULTIQUIMICA, S.C. OCEAN WORLD PLASTIFAR REFIDOMSA RENAISSANCE HOTEL JARAGUA & CASINO SADOSA TERMO ENVASES TROQUEDOM ZF INDUSTRIAL SANTIAGO ZF LA VEGA ZF PISANO - STGO ZF SAN ISIDRO BT ZF SPM ZONA FRANCA LAS AMÉRICAS TOTAL ZONA FRANCA LAS AMÉRICAS TOTAL ITABO, S.A. QUITPE TOTAL

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

0.33 0.54 0.67 0.69 0.45 1.48 1.31 1.22 0.46 0.46 0.10 5.72 0.47 0.31 1.14 1.41 0.62 0.98 0.37 1.54 0.50 1.63

0.50 2.97 0.74 0.37 0.45 1.41 0.67 1.70 0.48 0.39 0.63 0.71 0.80 0.55 3.45 1.47 1.42 0.52 0.41 0.10 6.50 0.52 0.38 1.24 1.67 0.70 1.06 0.41 1.72 0.54 1.88

0.49 2.79 0.69 0.24 0.43 1.30 0.67 1.66 0.43 0.34 0.50 0.68 0.91 0.57 3.20 1.43 1.35 0.49 0.41 0.08 5.85 0.50 0.35 1.11 1.63 0.67 1.06 0.35 1.68 0.55 1.66

0.46 3.12 0.67 0.28 0.45 1.50 0.74 1.97 0.51 0.35 0.49 0.70 1.00 0.63 3.07 1.47 1.48 0.51 0.40 0.08 6.29 0.57 0.38 1.26 1.65 0.70 1.12 0.39 2.03 0.56 1.44

0.54 3.09 0.64 0.25 0.45 1.54 0.78 1.87 0.51 0.35 0.46 0.72 1.07 0.60 2.63 1.33 1.52 0.55 0.40 0.10 6.59 0.54 0.37 1.12 1.44 0.74 1.08 0.40 1.61 0.57 1.51

0.61 3.35 0.67 0.27 0.45 1.47 0.77 1.82 0.50 0.41 0.48 0.83 1.09 0.05 2.77 1.28 1.57 0.57 0.43 0.10

0.59 3.28 0.62 0.28 0.46 1.47 0.80 2.04 0.43 0.35 0.52 0.84 1.11 0.47 2.50 1.33 1.65 0.54 0.42 0.08

0.52 3.20 0.59 0.33 0.44 1.43 0.76 1.83 0.44 0.35 0.53 0.74 1.10 0.61 3.09 1.34 1.56 0.50 0.37 0.14

0.49 3.41 0.55 0.32 0.45 1.45 0.78 2.09 0.46 0.42 0.54 0.75 1.06 0.62 3.48 1.13 1.70 0.50 0.41 0.16

0.46 3.03 0.55 0.33 0.43 1.32 0.74 1.68 0.42 0.41 0.58 0.71 0.86 0.54 3.37 1.13 1.55 0.47 0.42 0.16

0.43 3.11 0.53 0.29 0.44 0.83 0.73 2.06 0.31 0.42 0.57 0.65 0.90 0.58 2.65 0.88 1.57 0.45 0.38 0.11

0.55 0.35 1.15 1.76 0.70 1.10 0.37 1.71 0.60 1.67

0.54 0.38 1.09 1.69 0.71 1.08 0.36 1.03 0.59 1.69

0.53 0.36 1.13 1.76 0.10 1.06 0.39 2.13 0.54

0.55 0.34 1.38 2.07 0.04 1.14 0.43 2.15 0.55

0.54 0.32 1.42 2.11 0.04 1.04 0.46 2.37 0.53

0.51 0.21 1.13 1.49 0.04 1.02 0.34 1.82 0.54

0.50 0.85 0.39 1.20 0.34 1.95 0.64 0.79 2.63 1.93 2.71 44.18 2.71 44.18

0.25 0.74 0.43 1.21 0.43 2.21 0.78 0.99 2.80 2.28 2.95 44.34 2.95 44.34

0.20 0.79 0.48 1.42 0.46 2.89 0.98 1.11 3.26 2.62 3.24 53.82 3.24 53.82

0.25 0.79 0.47 1.01 0.39 2.62 0.98 1.08 2.94 2.24 2.92 49.78 2.92 49.78

0.28 0.85 0.48 1.24 0.44 2.81 1.14 1.18 3.15 2.42 3.28 53.55 3.28 53.55

0.10 0.81 0.47 1.05 0.46 2.85 1.06 1.10 3.12 2.31 3.33 52.04 3.33 52.04

0.20 0.84 0.50 1.12 0.42 2.81 1.03 1.12 3.37 2.23 3.28 46.34 3.28 46.34

0.43 0.84 0.47 1.21 0.39 2.91 1.04 1.18 3.35 2.33 3.15 46.22 3.15 46.22

1.76 0.33 0.88 0.42 0.99 0.46 2.84 0.96 1.09 3.37 2.48 3.27 46.74 3.27 46.74

1.81 0.21 0.90 0.42 1.29 0.44 2.68 0.95 1.09 3.31 2.46 3.33 48.31 3.33 48.31

2.09 0.15 0.83 0.42 1.36 0.44 2.55 0.94 1.16 3.31 2.38 3.21 46.84 3.21 46.84

1.95 0.44 0.84 0.37 1.31 0.47 1.91 0.68 0.78 2.69 1.83 2.45 40.70 2.45 40.70

0.16 0.16

0.20 0.20

0.26 0.26

0.20 0.20

0.21 0.21

0.20 0.20

0.17 0.17

0.19 0.19

0.18 0.18

0.16 0.16

0.17 0.17

0.18 0.18

3.05 0.56 0.32 0.43 0.97

2.80 0.66 0.33 0.40 1.21

1.40

1.46

0.32 0.47 0.71 0.73 0.46 3.16 1.18 1.43 0.51 0.27 0.11 5.26 0.46 0.26 1.33 1.57 0.71 1.05 0.28 1.32 0.55 1.37

Towards the end of December 2011, the NRU portfolio consisted of 42 clients, which represented 59% of the market. 28

AES Dominicana

Fuel Inventory and Consumption

Fuel Imports

Natural Gas

During 2011, AES ANDRES and DPP consumed a total of 32,352,697 MMBTU and purchased a sum of 36,108,429 MMBTU of natural gas. The next table shows 2011â&#x20AC;&#x2122;s monthly natural gas inventory and consumption. This includes purchases, consumptions and sales to third parties.

Beginning Inventory

JAN

FEB

MAR

APR

1,822,279

1,962,776

Purchases

3,134,775

2,830,516 3,005,058

ANDRES Consumptions

1,362,106

1,293,071

591,963

DPP Consumptions

1,346,462

1,231,858

BOG Consumptions

16,577 251,175

Third Partie Sales Losses Final Inventory

17,958 1,962,776

MAY

JUN

1,959,449 2,488,069 2,242,496

JUL

AUG

SEP

OCT

2,495,957

2,579,614

2,176,353

1,959,150

3,019,250 3,026,887

3,038,103

2,951,845

3,073,145

3,039,222

1,397,695

1,426,893

1,311,559

1,421,899

1,313,503

1,338,586

1,530,389

1,496,687

982,860

1,275,478

1,505,533

1,524,074

1,475,544

13,848

19,391

19,403

19,447

16,423

20,486

18,568

283,879

326,558

343,192

341,786

345,066

406,447

11,187

8,137

7,845

2,440

5,920

741

1,959,449 2,488,069 2,242,496 2,495,957

2,579,614

2,176,353

NOV

1,744,409

DEC

Total

1,310,846

1,104,154

2,981,214

3,057,585

2,950,829

36,108,429

1,431,099

1,330,244

1,354,205

15,572,823

1,542,098

1,458,595

1,410,296

16,779,874

13,193

7,038

6,601

264

171,239

433,732

421,503

434,187

459,995

418,571

4,466,091

471

5,138

355

8,842

126

69,160

1,959,150 1,744,409

1,310,846

1,104,154

871,521

Coal In 2011, ITABO, S.A. registered a consumption of 632,920 metric tons of coal and 798 metric tons of petcoke. The table below shows the monthly evolution in the inventories and the consumptions of both coal and petcoke.

2011 Coal Inventory and Consumptions [metric ton] ITABO, S.A. Beginning Inventory Purchases Consumptions Third Partie Sales Losses Final Inventory

JAN 49,476 31,235 51,121 9,400 20,189

FEB MAR 20,189 19,081 42,464 116,390 43,573 62,999 19,081 72,472

APR 72,742 75,122 57,610 1,084 89,170

MAY 89,170 47,786 63,707 73,249

JUN 73,249 41,038 57,825 56,462

JUL 56,462 38,112 29,217 1,274 64,083

AUG 64,083 37,855 39,949 13 61,976

SEP 61,970 90,019 59,262 92,727

OCT 92,727 37,428 55,299

NOV DEC Total 55,299 68,824 723,270 76,382 104,293 700,697 62,857 67,371 632,920 11,771 68,824 105,746 779,277

Subtotal Consumo

60,521

43,573

58,693

63,707

57,825

30,491

39,963

59,262

37,428

62,857

62,999

67,371 644,691

2011 Petcoke Inventory and Consumptions [metric ton] MAR

APR

MAY

JUN

JUL

AUG

Throughout 2011, the AES ANDRES terminal received eleven (11) vessels under our long-term contract and one (1) from the spot market, the first in the history of AES Dominicana, for a total of 36,108,429 MMBTU, equivalent to 1,606,658 M3 of liquefied Natural Gas. The table below shows the relevant details.

2011 AES ANDRES NATURAL GAS IMPORTS

Natural Gas Inventory and Consumptions [MMBTU] AES ANDRES & DPP

2011 STATISTICAL REPORT

ITABO, S.A. Beginning Inventory

JAN 3,981

FEB -

SEP -

OCT -

NOV -

DEC

Purchases Consumptions Third Partie Sales Losses Final Inventory Subtotal Consumo Total Consumo

798 3,183 798 61,319

43,573

62,999

58,693

63,707

57,825

30,491

39,963

59,262

37,428

62,857

Total 3,981

798 3,183 798 67,371 633,718

No. 1 2 3 4 5 6 7 8 9 10 11 12

Date January 14, 2011 February 18, 2011 March 22, 2011 April 20, 2011 May 23, 2011 June 22, 2011 July 19, 2011 August 14, 2011 September 14, 2011 October 11, 2011 November 8, 2011 December 4, 2011

Supplier BPGM BPGM BPGM BPGM BPGM BPGM BPGM BPGM BPGM BPGM BPGM BPGM

Vessel Bristish Diamond Express British Trader Golar Arctic Gaslog Singapore British Merchant Arctic Princess Bristish Diamond Golar Arctic British Ruby British Sapphire Arctic Discoverer (Spot Ship)

Discharge Port AES ANDRES AES ANDRES AES ANDRES AES ANDRES AES ANDRES AES ANDRES AES ANDRES AES ANDRES AES ANDRES AES ANDRES AES ANDRES AES ANDRES

MMBTU 3,134,775 2,830,516 3,005,058 3,019,250 3,026,887 3,038,103 2,951,845 3,073,145 3,039,222 2,981,214 3,057,585 2,950,829 36,108,429

M3 139,773 125,992 134,035 134,827 135,009 135,488 131,731 136,979 135,536 133,073 136,629 127,586 1,606,658

Coal In 2011, ITABO, S.A. received a total of sixteen (16) vessels of coal, fifteen (15) of which were received at the International pier of ITABO, S.A. and one (1) at the port of HAINA. The total cargo of these vessels combined represented a sum of 700,697 metric tons. These details are found in the following table.

2011 ITABO, S.A. COAL IMPORTS No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

Date January 23, 2011 February 9, 2011 March 3, 2011 March 15, 2011 April 1, 2011 April 12, 2011 May 4, 2011 June 18, 2011 July 17, 2011 August 24, 2011 September 5, 2011 September 11, 2011 November 1, 2011 November 11, 2011 December 3, 2011 December 27, 2011 December 27, 2011

Supplier INTERAMERICAN/GLENCORE INTERAMERICAN COAL BULKTRADING GLENCORE INTERNATIONAL INTERAMERICAN COAL INTERAMERICAN COAL GLENCORE INTERNATIONAL GLENCORE INTERNATIONAL INTERAMERICAN COAL INTERAMERICAN COAL INTERAMERICAN COAL GLENCORE INTERNATIONAL INTERAMERICAN COAL INTERAMERICAN COAL GLENCORE INTERNATIONAL MACQUAIRE BANK MACQUAIRE BANK

Vessel UBC TILSBURY BALDER BALDOCK BALDOCK ANTWERPEN ANTWERPEN BALDER CSL METIS ANTWERPEN ANTWERPEN ANTWERPEN SOPHIE OLDENDORFF ANTWERPEN ANTWERPEN SOPHIE OLDENDORFF HARMEN OLDENDORFF HARMEN OLDENDORFF

Discharge Port HAINA ITABO ITABO ITABO ITABO ITABO ITABO ITABO ITABO ITABO ITABO ITABO ITABO ITABO ITABO ITABO ITABO

Metric Tons 31,235 42,464 61,362 55,028 38,122 37,000 47,786 41,038 38,112 37,855 38,040 51,979 38,124 38,258 52,460 51,832 51,832 700,697

MMBTU 854,153 1,183,229 1,589,674 1,482,601 1,011,728 1,017,026 1,310,554 1,113,725 1,048,096 1,036,105 1,017,770 1,395,296 1,050,864 1,058,943 1,398,836 1,339,928 1,339,928 18,908,529

During this year, ITABO, S.A. purchased 700,697 metric tons of coal from various suppliers.

AES Dominicana

2011 STATISTICAL REPORT

Operational Indicators

For the Equivalent Forced Outage Factor Indicator (EFOF), AES ANDRES and DPP obtained remarkable values, all below 1%.

The following table shows the operational indicators and operational rates of AES ANDRES, ITABO, S.A. and DPP power units.

2011 EFOF AES DOMINICANA

2011 AES DOMINICANA OPERATIonal INDEXES JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

2011

AES ANDRES

ITABO 1

ITABO 2

LOS MINA 5

LOS MINA 6

EAF [%] ANDRES

93.0% 100.0%

42.0%

99.0%

96.0%

93.0%

99.0%

96.0% 100.0% 100.0% 100.0% 100.0%

93.2%

ITABO 1

64.0%

72.0%

74.0%

72.0%

80.0%

0.0%

31.0%

81.0%

94.0%

86.0%

87.0%

67.8%

ITABO 2

83.0%

65.0%

94.0%

84.0%

92.0%

77.0%

81.0%

73.0%

84.0%

9.0%

93.0%

96.0%

77.6%

LOS MINA 5

74.0%

80.0% 100.0% 100.0% 100.0% 100.0% 100.0%

LOS MINA 6

99.0% 100.0% 100.0% 100.0%

68.0%

99.0% 100.0% 100.0% 100.0% 100.0%

96.1%

96.0%

97.0%

93.8%

98.0% 100.0% 100.0% 100.0%

EFOF [%] ANDRES

0.0%

1.0%

2.0%

1.0%

0.0%

0.3%

ITABO 1

0.0%

5.0%

8.0%

4.0%

0.0%

2.0%

0.0%

1.0%

9.0%

5.0%

8.0%

3.0%

3.8%

ITABO 2

0.0%

30.0%

0.0%

7.0%

0.0%

2.0%

1.0%

8.0%

0.0%

1.0%

4.1%

LOS MINA 5

0.0%

1.0%

0.0%

0.1%

LOS MINA 6

0.0%

7,832

7,819

7,857

7,644

7,758

7,837

7,663

7,715

7,623

7,653

7,675

7,662

7,728

HEAT RATE [BTU/kWh] ANDRES ITABO 1

11,090

10,752

11,357

11,149

11,839

11,861

7,831

13,460

11,380

10,919

11,184

11,375

11,183

ITABO 2

10,298

10,455

10,902

10,757

10,952

10,742

11,029

11,303

11,213

12,881

11,086

11,046

11,055

LOS MINA 5

11,965

12,018

11,984

11,952

11,941

12,006

12,137

12,242

12,191

12,134

12,209

12,184

12,080

LOS MINA 6

12,405

12,443

12,474

12,473

12,453

12,393

12,668

12,533

12,673

12,674

12,769

12,299

12,521

As may be observed in the graph below, 2011 was quite a unique year for each of AES Dominicana’s plants in terms of their Equivalent Availability Factor (EAF). For AES Andres and DPP it was a great period where AES Andres reached an EAF of 93.2% and DPP (with its LOS MINA 5 unit) reached an EAF of 96.1%, demonstrating that investing and focusing in operational excellence payed off. It is important to highlight that in 2011, ITABO S. A., with the constant support of Fondo Partimonial de las Empresas Reformadas (FONPER) —a state-owned institution whose primary mission is to ensure, preserve and manage the state’s shares—, it became a model business in the AES Dominicana group excelling in operational excellence.

2011 EAF AES DOMINICANA AES ANDRES

100%

ITABO 1

ITABO 2

LOS MINA 5

LOS MINA 6

4% 3% 2% 1% 0%

Relevant Events The most significant operational events in AES Dominicana’s power plants coincide with the scheduled maintenance of its units and the TIE-IN connection with SEABOARD. See table below.

2011 AES DOMINICANA RELEVANT EVENTS Unit Los Mina 6 Los Mina 5 DPP Itabo 2 Itabo 1 Andres

Description Programmed Major Maintenance Programmed Major Maintenance TIE-IN Connection with SEABOARD Programmed Major Maintenance Programmed Major Maintenance Programmed Major Maintenance

From 21-May-2011 23:59 24-Jan-2011 01:12 09-Dec-2011 23:49 01-Oct-2011 01:38 01-Jul-2011 00:35 09-Mar-2011 00:11

To 07-Jun-2011 02:17 05-Feb-2011 18:21 12-Dec-2011 03:51 28-Oct-2011 23:34 21-Aug-2011 00:00 26-Mar-2011 17:49

Hours 386 293 52 670 1,223 426

80% 60% 40% 20% 0% 32

AES Dominicana

2011 STATISTICAL REPORT

Wholesale Electric Market 34

AES Dominicana

Brief History of the Dominican Electric Sector In 1997 the capitalization process began. It was instituted due to serious problems in the electricity market caused by a deficit in energy generation, poor quality service and a lack of capital investment for the development of the electricity sector. The capitalization process was formalized in 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 purchase 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 companies: EDENORTE, EDESUR and EDEESTE, three generation companies: HAINA, ITABO and HIDRO and the power transmission company: ETED. In 1999, the three distribution companies and the two thermal generation companies were capitalized through the sale of 50% of the stocks to private investors. The Dominican Government 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’s new legislation.

2011 STATISTICAL REPORT

Generation The electricity generation park of the Dominican Republic is mainly composed of 83.5% of thermoelectric units while the other 16.5% is composed by hydro electrical units. In 2011 a new power plant was installed to the SENI (National Electric Interconnected System), PIMENTEL III; however, there were two units that went out of commercial operation, these were, Sultana del Este I, which belonged to the company EGE Haina, and Estrella del Norte, which belonged to the Transcontinental Electricity Generating Company (SEABOARD). The following graph allows us to view the installed capacity of the system by technology.

Installed Capacity by Technology [3,068.2 mw as of DEcemBER 2011]

26.1% Gas Turbine 11.0% Diesel Engine 19.7% Combined Cycle 26.2% Hydro Turbine 17.1% Steam Turbine

During 2007, the Electricity General Law and its Rulebook were modified by the law number 186-07. The new law’s goal was to penalize electrical fraud and establish other measures to obtain the electrical sector’s financial viability.

AES Dominicana

The next graph shows the installed capacity of the system by fuel.

It is important to indicate that in 2011, AES Dominicana, with its AES ANDRES, ITABO, S.A. and DPP power plants encompassed 26.6% of the installed capacity of the generation park, and had the most competitive fuel mix in the market (coal and natural gas).

Installed Capacity by Fuel Type [3,068.2 mw as of DEcemBER 2011]

The tables below show the power plants that had been installed as of December 2011, specifying the fuel, technology and installed capacity.

SYSTEM INSTALLED CAPACITY

17.1% Fuel Oil 6 41.5% Fuel Oil 2 13.1% Coal 10.2% Natural Gas 18.1% Hydraulics

[DECEMBER 2011]

THERMOELECTRIC UNITS COMPANIES

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

SYSTEM INSTALLED CAPACITY BY TECHNOLOGY [DECEMBER 2011]

TOTAL GENERATION COMPANY AES ANDRES ITABO, S.A. DPP AES DOMINICANA HAINA HIDRO METALDOM SEABOARD GPLV MONTERIO CEPP LAESA FALCONDO

STEAM TURBINE

GAS TURBINE

COMBINED DIESEL CYCLE ENGINE 319.0

HYDRO

260.0 260.0 343.1

236.0 236.0 100.0

319.0 0.0 523.2 42.0 73.3 198.8 100.1 76.8 111.0

198.0

[MW]

[%]

319.0 260.0 236.0 815.0 443.1 523.2 42.0 73.3 198.8 100.1 76.8 111.0 198.0

10.4% 8.5% 7.7% 26.6% 14.4% 17.1% 1.4% 2.4% 6.5% 3.3% 2.5% 3.6% 6.5%

185.0 300.0 1.9 3,068.20

6.0% 9.8% 0.1% 100.0%

INDEPENDENT PRIVATE PRODUCERS [IPP'S]

SAN FELIPE CESPM RIO SAN JUAN TOTAL [MW]

185.0 300.0 801.1

336.0

2011 STATISTICAL REPORT

804.0

1.9 603.9

523.2

TECHNOLOGY

CAPACITY [MW]

AES DOMINICANA ANDRES ITABO I ITABO II LOS MINA V LOS MINA VI SubTotal

Natural Gas Coal Coal Natural Gas Natural Gas

Combined Cycle Steam Turbine Steam Turbine Gas Turbine Gas Turbine

319.0 128.0 132.0 118.0 118.0 815.0

HAINA HAINA I HAINA II HAINA IV SAN PEDRO VAPOR PUERTO PLATA I PUERTO PLATA II HAINA TG BARAHONA CARBON SubTotal

Fuel Oil 6 Fuel Oil 6 Fuel Oil 6 Fuel Oil 6 Fuel Oil 6 Fuel Oil 6 Fuel Oil 2 Coal

Steam Turbine Steam Turbine Steam Turbine Steam Turbine Steam Turbine Steam Turbine Gas Turbine Steam Turbine

54.0 54.0 84.9 30.0 27.6 39.0 100.0 53.6 443.1

GENERADORA PALAMARA - LA VEGA PALAMARA LA VEGA SubTotal

Fuel Oil 6 Fuel Oil 6

Diesel Engine Diesel Engine

106.8 92.0 198.8

CDEEE SAN FELIPE CESPM I CESPM II CESPM III RIO SAN JUAN SubTotal

Fuel Oil 6 Fuel Oil 2 Fuel Oil 2 Fuel Oil 2 Fuel Oil 2

Combined Cycle Combined Cycle Combined Cycle Combined Cycle Diesel Engine

185.0 100.0 100.0 100.0 1.9 486.9

SEABOARD ESTRELLA DEL MAR SubTotal

Fuel Oil 6

Diesel Engine

73.3 73.3

CEPP CEPP I CEPP II SubTotal

Fuel Oil 6 Fuel Oil 6

Diesel Engine Diesel Engine

18.7 58.1 76.8

PVDC MONTE RIO SubTotal

Fuel Oil 6

Diesel Engine

100.1 100.1

METALDOM METALDOM SubTotal

Fuel Oil 6

Diesel Engine

42.0 42.0

LAESA PIMENTEL I PIMENTEL II PIMENTEL III SubTotal

Fuel Oil 6 Fuel Oil 6 Fuel Oil 6

Diesel Engine Diesel Engine Diesel Engine

31.6 28.0 51.4 111.0

FALCONDO FALCONDO I FALCONDO II FALCONDO III SubTotal

Fuel Oil 6 Fuel Oil 6 Fuel Oil 6

Steam Turbine Steam Turbine Steam Turbine

66.0 66.0 66.0 198.0

Total Thermoelectric

FUEL

2,545.0

AES Dominicana

HYDROELECTRIC UNITS RESERVOIR HYDRO TAVERA I TAVERA II JIGUEY I JIGUEY II AGUACATE I AGUACATE II VALDESIA I VALDESIA II RIO BLANCO I RIO BLANCO II MONCION I MONCION II RINCON PINALITO I PINALITO II SubTotal Reservoir NON-RESERVOIR HYDRO LOPEZ ANGOSTURA CONTRA EMBALSE MONCION I CONTRA EMBALSE MONCION II BAIGUAQUE I BAIGUAQUE II HATILLO JIMENOA EL SALTO ANIANA VARGAS I ANIANA VARGAS II DOMINGO RODRIGUEZ I DOMINGO RODRIGUEZ II ROSA JULIA DE LA CRUZ NIZAO NAJAYO LOS ANONES SABANA YEGUA LAS DAMAS SABANETA LOS TOROS I LOS TOROS II MAGUEYAL I MAGUEYAL II LAS BARIAS SubTotal Non-Reservoir Total HYDRO GRAND TOTAL

FUEL

TECHNOLOGY

CAPACITY [MW]

Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics

48.0 48.0 49.0 49.0 26.0 26.0 27.0 27.0 12.5 12.5 26.0 26.0 10.1 25.0 25.0 437.1

Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics Hydraulics

Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine Hydro Turbine

18.4 1.6 1.6 0.6 0.6 8.0 8.4 0.7 0.3 0.3 2.0 2.0 0.9 0.3 0.1 12.8 7.5 6.3 4.9 4.9 1.5 1.5 0.9 86.1 523.20 3,068.2

2011 STATISTICAL REPORT

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 Santo Domingo Zone, Pizarrete in the Southern Zone, Bonao II and Canabacoa in the Northern Zone and San Pedro II in the Eastern Zone. During the year 2011, the Electrical Transmission Company (ETED) completed the 345 kV Julio Sauri –El Naranjo transmission line. This accomplishment enabled a significant improvement in the tension levels in the Northern Zone of the country and also reduced the electrical losses in the National Electric Interconnected System.

Electricity Distribution The electricity distribution of the national interconnected grid is managed by three distribution companies: EDESUR Dominicana, S. A. EDENORTE Dominicana, S. A. Empresa Distribuidora de Electricidad del Este, S. A. These companies obtain their energy from the electric system through high voltage bus bars, which are later transformed to minor tensions and then conducted through each company’s grids within their zones of concession until these reach their 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 the electrical load automatically through different phases. This mechanism is reviewed and updated periodically by the Organismo Coordinador, the independent market operator.

Transmission The Electrical 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 substations 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 transmission grids. The tramission grid consists of primary lines that are 129.9 kilometers of 345 kV and 2,660.93 kilometers of 138 kV, and secondary lines that are 1,933.13 kilometers of 69 kV.

AES Dominicana

2011 ELECTRIC GENERATION MARKET SHARE

Energy Balance In the following table we can observe the monthly energy balance during 2011. This includes the net injections of the generation companies as well as the distribution companies and non-regulated usersâ&#x20AC;&#x2122; withdrawals; the last two have been grouped independently from the generation companies with which they have a power supply contractual arrangement with.

2011 ELECTRIC SYSTEM BALANCE [GWh] AES ANDRES ITABO, S.A. DPP AES Dominicana HIDRO CDEEE HAINA GPLV SEABOARD CEPP MONTERIO PVDC METALDOM LAESA FALCONDO DEMAND* EDESUR EDENORTE EDEESTE FALCONDO UNR's WITHDRAWALS LOSSES LOSSES %

Jan 173.7 143.8 110.1 427.6 113.3 9.1 103.1 98.7 61.1 29.0 47.8 18.2 53.0 960.9 321.4 270.9 264.6 85.9 942.8 18.14 1.89%

Feb 165.4 117.2 100.4 383.0 88.6 68.9 80.5 84.8 53.4 25.0 41.9 16.0 43.6 2.4 888.0 300.6 248.8 238.1 83.0 870.4 17.53 1.97%

Mar Apr May Jun Jul Aug Sep 75.0 182.7 183.9 167.1 185.6 170.2 175.6 149.8 138.5 146.2 132.4 71.0 91.5 140.6 125.0 122.4 81.2 104.6 121.2 122.6 118.3 349.8 443.6 411.3 404.1 377.8 384.3 434.5 90.5 73.7 88.5 153.2 139.8 180.3 163.5 146.0 111.6 154.8 125.6 160.9 134.0 110.8 99.6 103.5 108.8 99.7 117.7 128.0 121.1 100.0 102.5 95.9 90.2 90.0 85.3 71.5 59.8 14.5 46.8 39.8 46.8 40.8 41.8 31.9 29.1 33.0 34.2 27.6 33.1 32.3 49.9 54.0 57.8 45.9 44.4 39.0 39.1 19.6 18.0 13.4 12.3 16.1 18.6 15.7 48.2 49.2 47.6 62.7 71.4 69.3 61.3 0.0 995.3 999.6 1,057.8 1,067.7 1,092.5 1,112.4 1,091.6 332.3 323.2 341.4 346.7 346.1 348.6 347.7 274.9 272.2 285.6 297.2 308.6 308.6 295.8 267.9 266.9 284.2 285.7 288.1 294.0 289.8 5.1 27.0 27.1 23.7 35.4 44.9 43.5 98.0 89.1 98.3 94.0 95.6 96.5 95.1 978.2 978.5 1,036.7 1,047.3 1,073.8 1,092.7 1,071.9 17.10 21.13 21.06 20.37 18.71 19.72 19.66 1.72% 2.11% 1.99% 1.91% 1.71% 1.77% 1.80%

2011 STATISTICAL REPORT

Oct Nov Dec 2011 187.0 173.3 176.7 2,016 89.8 152.6 162.7 1,536 123.8 116.1 114.8 1,361 400.7 442.1 454.2 4,913 170.5 136.9 102.9 1,502 141.5 127.1 139.7 1,430 122.6 98.0 75.7 1,258 77.7 51.0 57.9 1,005 42.6 38.8 37.2 523 35.6 32.3 31.8 375 420 49.0 46.5 31.0 127 18.8 17.4 20.7 205 65.9 54.2 63.7 690 2.4 1,124.8 1,044.3 1,014.9 12,450 359.2 333.8 325.4 4,026.6 302.4 277.0 268.3 3,410.3 295.4 269.1 270.3 3,314.2 50.2 48.1 50.3 355.3 95.5 94.3 81.8 1,107.1 1,102.7 1,022.4 996.1 12,214 22.09 21.92 18.77 236.20 1.96% 2.10% 1.85% 1.90%

* It refers to net injections to the system

In 2011, the total injection of electrical energy in the system was 12,443 GWh. The companies who supplied the most were AES ANDRES with 16%, ITABO, S.A. with 12%, DPP with 11%, HIDRO with 12%, HAINA with 10% and GPLV with 8%. AES Dominicana contributed 39% of the energy in the Electricity Wholesale Market, reaching the highest market share in the generation sector.

12,450 GWH

39% HIDRO 12% CDEEE 12% HAINA 10% GPLV 8%

0% LAESA 6% METALDOM 2% PVDC 1% MONTERIO 3% FALCONDO

CEPP

AES Dominicana

SEABOARD

Capacity Balance The following table shows the monthly values of the definitive firm capacity of each generation company in 2011.

2011 FIRM CAPACITY BY GENERATION COMPANY [MW] AES ANDRES ITABO, S.A. DPP AES DOMINICANA HIDRO CDEEE* HAINA GPLV SEABOARD CEPP MONTERIO METALDOM PVDC LAESA Total

JAN 280.58 225.90 52.19 558.67 369.81 123.99 210.83 189.94 108.94 65.16 96.42 40.59 0.00 58.15 1,822.5

FEB 280.58 225.90 52.04 558.52 370.51 123.71 210.65 189.94 108.94 65.16 96.42 40.59 0.00 58.15 1,822.6

MAR 280.58 225.90 51.61 558.09 372.53 122.67 210.08 189.94 108.94 65.16 96.42 40.59 0.00 58.15 1,822.6

APR 280.58 225.90 60.19 566.67 367.69 143.50 214.55 189.94 79.80 65.16 96.42 40.59 0.00 58.15 1,822.5

MAY 280.57 225.90 58.19 564.66 353.76 138.90 202.53 189.94 71.88 65.16 0.00 40.59 96.42 98.74 1,822.6

JUN 280.57 225.90 56.34 562.81 352.80 134.41 200.04 189.94 71.88 65.16 0.00 40.59 96.42 108.46 1,822.5

JUL 280.57 225.90 61.42 567.89 328.89 146.55 206.72 189.94 71.88 65.16 0.00 40.59 96.42 108.46 1,822.5

AUG 280.57 225.90 55.68 562.15 355.88 132.83 199.16 189.94 71.88 65.16 0.00 40.59 96.42 108.46 1,822.5

SEP 280.57 225.90 57.68 564.15 346.32 137.61 201.80 189.94 71.90 65.16 0.00 40.59 96.42 108.46 1,822.3

OCT 280.58 225.90 51.84 558.32 373.93 123.69 194.12 189.94 71.90 65.16 0.00 40.59 96.42 108.46 1,822.5

NOV 280.57 225.90 52.76 559.23 369.56 125.89 195.33 189.94 71.88 65.16 0.00 40.59 96.42 108.46 1,822.5

DEC 280.57 225.90 61.50 567.97 328.52 146.73 206.83 189.94 71.88 65.16 0.00 40.59 96.42 108.46 1,822.5

MW % 280.57 15.4% 225.90 12.4% 55.95 3.1% 562.43 30.9% 357.52 19.6% 133.37 7.3% 204.39 11.2% 189.94 10.4% 81.81 4.5% 65.16 3.6% 32.14 1.8% 40.59 2.2% 64.28 3.5% 90.88 5.0% 1,822.5 100.0%

* Only SAN FELIPE and CESPM power units

The companies that resulted with the largest participation in the firm capacity market were HIDRO with 19.6% AES ANDRES with 15.4% ITABO, S.A. with 12.4% HAINA with 11.2% and GPLV with 10.4%. The remaining companies had figures which individually represented less than 10%. As can be observed below, AES Dominicana had a participation of 30.9% in the firm capacity market. 42

AES Dominicana

2011 FIRM CAPACITY MARKET SHARE

In 2011, the maximum demand occurred in August 11th at 21:00 hours where there was a total gross amount of 1,881 MW injections registered. The total withdrawals during that same hour added up to 1,741 MW, from which 91.49% were withdrawn by distributers, 8.04% by Non-Regulated Users, and 0.47% consumed by generators.

1,822.5 MW

30.9% HIDRO 19.6% CDEEE 7.3% HAINA 11.2% GPLV 10.4%

AES Dominicana

5% PVDC 3.5% METALDOM 2.2% MONTERIO 1.8% LAESA

CEPP

3.6%

2011 STATISTICAL REPORT

SEABOARD

Energy Supply by Fuel Type In 2011, 35.7% of the supplied energy was produced with Fuel Oil 6, holding the most participation in the fuel market; natural gas came in second with 27.7%, followed by coal coming in third with 14.9%.

2011 Energy Supply by Fuel Type

4.5%

35.7% COAL 14.9% FUEL OIL 2 9.4%

FUEL OIL 6

Maximum Demand The system’s maximum demand is the highest power consumed by distribution companies. Generally, this happens during system peak hours. Maximum demand is data used in capacity’s recalculation since a preliminary estimated maximum demand is used prior to computing these figures. The system remunerates only the maximum capacity effectively recorded as demanded during the year. The following table shows 2011’s monthly power production and power consumptions during system peak hours.

27.7% HYDRAULICS 12.1% EOLICS 0.1%

NATURAL GAS

2011 MONTHLY PEAK DEMAND [MW] Month Day / Hour GENERATION GROSS GENERATION NET GENERATION subtransmission voltage NET GENERATION transmission highvoltage DEMAND Empresa Distribuidora del Este EdeNorte Dominicana EdeSur Dominicana NRU Other TOTAL DEMAND Loss [MW] Loss [%]

Jan D18 H19

Feb D15 H20

Mar D22 H20

Apr D25 H20

May D11 H20

Jun D26 H20

Jul D20 H20

Aug D11 H21

Sep D7 H24

Oct D24 H19

Nov D8 H22

Dec D31 H20

1,739

1,737

1,829

1,740

1,761

1,879

1,847

1,881

1,860

1,865

1,820

1,850

1,685

1,681

1,770

1,679

1,701

1,818

1,791

1,827

1,799

1,818

1,760

1,791

1,680

1,676

1,766

1,673

1,697

1,813

1,786

1,822

1,794

1,813

1,756

1,785

455

474

500

491

494

501

520

527

490

497

478

513

495 564 145 6

479 552 130 9

568 586 88 4

470 494 128 3

481 504 137 7

536 601 102 6

504 520 139 9

524 542 140 8

504 531 126 8

520 550 126 9

494 521 136 9

545 574 47 3

1,666

1,644

1,746

1,587

1,623

1,746

1,692

1,741

1,658

1,703

1,638

1,683

14 31 0.82% 1.85%

21 1.17%

86 74 67 94 81 5.16% 4.38% 3.69% 5.24% 4.45%

136 110 119 102 7.57% 6.08% 6.76% 5.73%

International Fuel Prices The next graph shows the average monthly price of each fuel type in US$/MMBtu. The prices for FO 6 and FO 2 were referenced by the international publications by Platts at the US Golf Coast Port. The prices of coal were referenced by FOB Bolivar Port, in Colombia with a gross heat value 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 2011, natural gas and coal maintained the most competitive prices of those used in the Interconnected National Electrical System for the generation of thermal energy. Of the fossil fuels used for electrical generation, Fuel Oil 6 and Fuel Oil 2 maintained the highest prices.

AES Dominicana

Electricity Spot Price

2011 INTERNATIONAL FUEL PRICES [US$/MMBTU] FUEL OIL 2

FUEL OIL 6

LNG

COAL

The short-term marginal cost is the variable cost necessary to produce an additional unit of energy considering the demand and generation park available. The next graph presents 2011’s maximum and average monthly spot price.

2011 ELECTRICITY SPOT PRICE [US$/MWH] AVG

6 3

2011 STATISTICAL REPORT

MAX

250 200 Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

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

150 100 50

2011 INTERNATIONAL FUEL PRICES FOR ENERGY GENERATION [US$/MMBTU] COAL LNG FUEL OIL 6 FUEL OIL 2

0 Jan

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

4.35 4.50 12.17 14.72

4.21 4.04 13.54 15.72

4.39 4.07 14.71 17.27

4.52 4.27 15.63 18.26

4.34 4.34 14.69 16.90

4.31 4.52 15.19 16.96

4.33 4.36 15.49 17.51

4.36 4.03 15.00 16.78

4.20 3.85 15.04 16.65

3.90 3.62 15.29 16.83

3.83 3.56 15.43 17.42

3.71 3.25 14.67 16.38

COAL US$/MT NATURAL GAS US$/MMBTu FUEL OIL 6 US$/BBLS FUEL OIL 2 US$/GAL

Feb Mar Apr May Jun Jul Aug 111.41 115.27 119.23 115.71 113.75 113.98 115.28 4.04 4.07 4.27 4.34 4.52 4.36 4.03 87.97 95.56 101.50 95.44 98.69 100.60 97.46 2.74 3.01 3.18 2.95 2.95 3.05 2.92

Sep Oct Nov Dec 111.77 104.15 101.88 97.83 3.85 3.62 3.56 3.25 97.67 99.31 100.24 95.30 2.90 2.93 3.03 2.85

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

The following table demonstrates 2011’s monthly average energy spot prices.

2011 ENERGY SPOT PRICE [US$/MWH]

The next table shows prices with their original units: Jan 115.26 4.50 79.08 2.56

Feb

AVG MAX

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Average

141 175

148 182

179 199

196 213

211 226

198 214

207 220

201 223

186 218

199 219

188 222

179 224

186 211

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 in the international market, which are in fact, in American dollars. Attached are the exchange rates in dollars that were used for this report.

Capacity Spot Price and Connection Right Capacity’s marginal cost is the price for which the transactions of Firm Capacity are valued, and is determined 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 ordered to recalculate the Connection Right Unit Price using the definitive capacity transactions. 46

AES Dominicana

Frequency Regulation Service

2011 CAPACITY SPOT PRICE AND CONNECTION RIGHT [US$/KW-MONTH] Capacity Spot Price

2011 STATISTICAL REPORT

The following graph demonstrates the margins contributed by each company that participated in the frequency regulation market, as well as the established norm of the General Law of Electricity which indicates generation companies must reach between 3% and 5% of the demand, both primarily and secondarily.

Connection Right

12 10

2011 PRIMARY FREQUENCY REGULATION SERVICE CONTRIBUTION [GWh]

8 6

AES ANDRES

DPP

HIDRO

SAN FELIPE

FALCON

HAINA

GPLV

SEABOARD

METALDOM

MONTERIO

5% Demanda

3% Demanda

60 Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

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

2011 CAPACITY SPOT PRICE AND CONNECTION RIGHT [US$/KW-MONTH]

50 40 30 20

Capacity Spot Price Connection Right

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Average

8.07 2.93

8.11 2.69

8.15 3.13

8.22 3.03

8.22 2.87

8.22 3.09

8.22 2.51

8.22 2.76

8.22 3.14

8.22 3.09

8.22 3.04

8.22 3.13

8.19 2.95

10 0

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

AES Dominicana, with the participation of AES ANDRES and DPP, was the company that contributed the most in the primary regulation of frequency, with as much as 27% and 56%, bringing a total of 83% of the reserve margins in 2011, maintaining the quality and the reliability of the market.

AES Dominicana

2011 SECONDARY FREQUENCY REGULATION SERVICE CONTRIBUTION [GWh] AES ANDRES

HIDRO

DPP

CDEEE

5% Demanda

2011 STATISTICAL REPORT

Non Regulated Users Market 3% Demanda

The Superintendencia de Electricidad is the agency responsible for assessing whether a company qualifies or not as a Non-Regulated User. As of 2011, this institution had issued 130 licenses to enable the NRU status. However, currently only 70 are using their licenses in the wholesale electricity market.

Below is the monthly amount of energy that was supplied by each agent to its NRUs during 2011.

2011 NON-REGULATED USERS MARKET EVOLUTION [GWh]

30 20

Jan

10 0

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

In the secondary regulation of frequency AES ANDRES and DPP contributed approximately 56% and 30%, bringing a total of 86% of the reserve margins during 2011. The hydroelectric companies and CDEEE contributed 7% each in the market, the latter through its IPP contracts. It can be noted that during the maintainace of AES ANDRES in March 2011, 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 programmed demand and the supplied demand, was not reached. This did not permit the generation sector to efficiently lend this important service.

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

GWh

AES ANDRES HAINA ITABO, S.A. MONTERIO SEABOARD EDESUR EDENORTE EDEESTE HIDRO CEPP SPOT MARKET

44.18 44.34 53.82 49.78 53.55 52.04 46.34 46.22 46.74 48.31 46.84 40.70 572.86 0.16 0.20 0.26 0.20 0.21 0.20 0.17 0.19 0.18 0.16 0.17 0.18 2.28 3.21 3.09 3.60 3.30 3.46 3.44 3.34 3.30 3.30 3.60 3.42 3.40 40.47 6.21 6.41 6.92 6.27 6.45 6.54 13.48 13.45 12.83 13.75 12.91 11.99 117.23 0.63 0.62 0.72 0.71 0.77 0.81 0.81 0.79 0.78 0.79 0.67 0.62 8.70 20.87 17.55 21.42 18.25 22.41 19.94 20.03 20.95 21.04 18.18 18.64 14.87 234.15 9.98 10.16 11.13 10.49 11.37 10.91 11.29 11.53 10.09 10.65 11.14 9.61 128.34 0.16 0.12 0.28 0.63 0.62 0.11 0.11 0.12 0.11 0.11 0.11 0.07 0.36 0.33 2.68

Total Withdrawals

85.87 82.99

97.98

89.10 98.34 93.98 95.46 96.54 95.07

% 51.7% 0.0% 0.2% 0.0% 3.7% 10.6% 0.8% 21.2% 11.6% 0.0% 0.2%

95.51 94.31 81.82 1,106.98 100.0%

The table above shows that the NRU average monthly withdrawal in the wholesale electricity market was 92.25 GWh, which represented 9% of the SENI average monthly withdrawal in 2011. In addition, during 2011 the NRU total withdraw was 1.106 GWh of energy, from which AES Dominicana provided 573 GWh, which represented a monthly average of 48 GWh and 52% market share for all of 2011. Only in December did AES Dominicanaâ&#x20AC;&#x2122;s participation in the NRU market reach 50%. The following graph shows the NRU market share evolution by agents in 2011.

AES Dominicana

2011 NON-REGULATED USERS MARKET EVOLUTION

2011 STATISTICAL REPORT

Contract Market

AES ANDRES

HAINA

ITABO, S.A.

MONTE RIO

SEABOARD

EDESUR

EDENORTE

EDEESTE

HIDRO

SPOT MARKET

100% 90%

Energy Contracts, also known as 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 with the need 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 2011.

80% 70% 60%

2011 SYSTEM total contractual ENERGY SALES [GWh]

50% 40% 30%

Jan

20% 10% 0%

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

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

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

GWh

GENERATORS AES ANDRES 139.7 134.7 90.2 116.4 156.4 132.1 126.2 136.5 147.9 162.3 153.8 155.8 1,652.0 12.9% DPP 102.8 92.5 104.1 103.7 110.4 111.0 112.0 114.2 112.6 114.8 104.6 105.0 1,287.7 10.1% ITABO, S.A. 136.5 122.1 134.2 131.8 139.0 142.1 145.3 146.3 143.6 147.5 136.0 132.9 1,657.4 13.0% HAINA 157.5 145.7 161.5 158.4 167.2 170.9 174.9 176.1 172.8 177.6 163.8 159.9 1,986.2 15.5% MONTE RIO 34.8 32.3 41.3 52.0 160.5 1.3% SEABOARD 31.5 28.6 31.9 3.3 3.5 3.4 3.3 3.3 3.3 3.6 3.4 3.4 122.5 1.0% EGEHID 108.9 84.9 86.8 70.2 84.7 150.5 136.0 177.7 160.7 167.3 132.5 97.5 1,457.6 11.4% LAESA 26.0 26.0 56.0 56.0 56.0 56.0 56.0 56.0 56.0 56.0 56.0 56.0 612.0 4.8% CDEEE 169.5 154.7 183.0 178.3 177.3 177.1 181.9 182.6 179.7 180.2 171.6 169.2 2,105.0 16.5% CEPP 23.9 21.9 24.2 24.0 25.2 26.2 27.2 27.2 26.1 26.6 24.6 23.8 300.8 2.4% GPLV 98.3 84.6 99.7 102.0 84.2 90.1 90.0 89.1 87.3 89.8 83.0 80.6 1,078.7 8.4% 1,029.5 928.1 1,012.8 996.2 1,003.8 1,059.5 1,052.8 1,109.0 1,089.8 1,125.8 1,029.2 984.1 12,420.5 97.2% Subtotal DISTRIBUTION COMPANIES EDESUR 6.2 6.4 6.9 6.3 6.5 6.5 13.5 13.5 12.8 13.8 12.9 12.0 117.2 0.9% EDENORTE 0.6 0.6 0.7 0.7 0.8 0.8 0.8 0.8 0.8 0.8 0.7 0.6 8.7 0.1% EDEESTE 20.9 17.6 21.4 18.2 22.4 19.9 20.0 21.0 21.0 18.2 18.6 14.9 234.1 1.8% Subtotal 27.7 24.6 29.1 25.2 29.6 27.3 34.3 35.2 34.6 32.7 32.2 27.5 360.1 2.8% 1,057.2 952.7 1,041.9 1,021.4 1033.4 1,086.8 1,087.1 1,144.2 1,124.4 1,158.5 1,061.4 1,011.6 12,780.6 100.0% Total

AES Dominicana, as a group, held the largest market share in the contractual energy market in 2011 with AES ANDRES (12.9%), DPP (10.1%) and ITABO, S.A. (13.0%), supplying a total of 36.0% of all contracts registered. The market share of CDEEE (16.5%), HAINA (15.5%) and HIDRO (11.4%), can also be noted.

AES Dominicana

2011 STATISTICAL REPORT

Attachments 54

AES Dominicana

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

C 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 recuperation 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 residential sector. This cost is established annually by means of resolution of the Superintendency of Electricity.

F 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 parameters, 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 pressure, Fuel Oil is used as a fuel for electrical energy plants, boilers, and ovens.

G GAS TURBINE: A machine composed of a compressed air compressor (sic), a turbine especially designed for this purpose, 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. H 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. L 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 volume of gas by 600 times.

2011 STATISTICAL REPORT

M MARGINAL CENTRAL UNIT: This refers to the generating unit or units, which at optimum load dispatch increase their generation when the demand is marginally increased. MARGINAL SHORT-TERM COST: The variable costs necessary to produce one additional unit of energy, considering the demand and the generation infrastructure available. MAXIMUM ANNUAL DEMAND: The maximum gross half our demand, during a calendar year, of the total of the generator units of the system, occurring within the system´s peak hours.

N 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 whose monthly demand exceeds the limits established by the Superintendency in order to be classified as a public user, and who fulfills the requirements established in the Regulation of the General Electricity Law.

O OWN CONSUMPTION: The energy consumed by the auxiliary systems of a central unit or Substation. P PEAK POWER: Maximum power on the annual load curve. PRIMARY FREQUENCY REGULATION (RPF): Power that a generator unit can vary by automatic action of its system in the face of changes in the system’s frequency.

R RIGHT OF CONNECTION: The difference between the total annual cost of the transmission 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. S 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 generation 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 electricity not based on term contracts where economic transactions are performed at Marginal Short Term Energy Cost and at Marginal Power 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.

V VARIABLE PRODUCTION COST OF A THERMAL ELECTRICAL MACHINE: This corresponds 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 variable non-fuel cost.

AES Dominicana

2011 STATISTICAL REPORT

CONSUMER PRICE INDEX USA

HIGH & LOW HEATING VALUES OF SOME FUELS

[2000 - 2011] Jan 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Feb

168.8 175.1 177.1 181.7 185.2 190.7 198.3 202.4 211.1 211.1 216.7 220.2

2011

169.8 175.8 177.8 183.1 186.2 191.8 198.7 203.5 211.7 212.2 216.7 221.3

Mar 171.2 176.2 178.8 184.2 187.4 193.3 199.8 205.4 213.5 212.7 217.6 223.5

Apr 171.3 176.9 179.8 183.8 188.0 194.6 201.5 206.7 214.8 213.2 218.0 224.9

May 171.5 177.7 179.8 183.5 189.1 194.4 202.5 207.9 216.6 213.9 218.2 226.0

Jun

Jul

172.4 178.0 179.9 183.7 189.7 194.5 202.9 208.4 218.8 215.7 218.0 225.7

172.8 177.5 180.1 183.9 189.4 195.4 203.5 208.3 220.0 215.4 218.0 225.9

Aug 172.8 177.5 180.7 184.6 189.5 196.4 203.9 207.9 219.1 215.8 218.3 226.5

Sep 173.7 178.3 181.0 185.2 189.9 198.8 202.9 208.5 218.8 216.0 218.4 226.9

Oct 174.0 177.7 181.3 185.0 190.9 199.2 201.8 208.9 216.6 216.2 218.7 226.4

Nov

Dec

174.1 177.4 181.3 184.5 191.0 197.6 201.5 210.2 212.4 216.3 218.8 226.2

174.0 176.7 180.9 184.3 190.3 196.8 201.8 210.0 210.2 215.9 219.2 225.7

Fuente U.S. Bureau of Labor Statistics

AVERAGE EXCHANGE RATE TO BUY DOLLARS

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

BUY SALE BUY SALE BUY SALE BUY SALE BUY SALE BUY SALE BUY SALE BUY SALE BUY SALE BUY SALE BUY SALE BUY SALE

Jan 15.98 15.98 16.62 16.62 17.05 17.05 17.56 17.76 46.09 46.64 29.84 30.40 34.56 34.84 33.70 33.90 33.76 33.89 35.37 35.49 36.11 36.19 37.45 37.54

Feb 16.05 16.05 16.66 16.66 17.15 17.15 18.17 18.37 49.23 50.44 28.85 29.22 34.17 34.44 33.36 33.51 33.83 33.96 35.56 35.65 36.19 36.27 37.63 37.72

Mar 16.05 16.05 16.66 16.66 17.15 17.15 22.72 22.92 46.52 47.18 28.30 28.60 32.56 32.85 32.79 32.96 33.92 34.04 35.67 35.77 36.30 36.37 37.76 37.85

Apr 16.05 16.05 16.66 16.66 17.56 17.70 23.78 23.98 44.35 44.81 28.25 28.54 32.11 32.33 32.23 32.40 34.03 34.14 35.83 35.92 36.42 36.51 37.84 37.90

May 16.05 16.05 16.66 16.66 17.56 17.76 25.60 25.80 46.92 47.69 28.70 28.91 32.49 32.73 32.14 32.29 34.01 34.13 35.95 36.04 36.70 36.79 37.89 37.96

Jun 16.05 16.05 16.66 16.66 17.56 17.76 28.89 29.09 48.12 48.67 28.90 29.08 32.77 32.94 32.42 32.57 34.16 34.27 35.92 36.00 36.73 36.81 38.03 38.10

Jul 16.05 16.05 16.66 16.66 17.56 17.76 34.45 34.85 44.84 45.56 28.93 29.06 32.75 32.91 32.99 33.14 34.27 34.39 35.98 36.07 36.80 36.88 38.04 38.12

Aug 16.05 16.05 16.66 16.66 17.56 17.76 33.72 34.13 41.25 42.11 29.00 29.13 32.63 32.80 32.90 33.05 34.68 34.80 36.03 36.10 36.89 36.99 38.06 38.13

Sep 16.38 16.38 16.66 16.66 17.56 17.76 31.70 32.25 36.95 37.62 30.42 30.82 32.95 33.12 33.31 33.46 34.83 34.95 36.06 36.13 36.98 37.07 38.15 38.21

Oct 16.45 16.45 16.66 16.66 17.56 17.76 34.91 35.23 32.27 32.98 32.41 32.70 33.47 33.66 33.46 33.59 34.99 35.09 36.09 36.16 37.21 37.29 38.30 38.37

Nov Dec 16.49 16.53 16.49 16.53 16.76 16.97 16.76 16.97 17.56 17.56 17.76 17.76 39.74 37.44 40.24 37.82 29.56 28.86 30.13 29.33 33.25 33.12 33.54 33.39 33.56 33.09 33.69 33.30 33.41 33.52 33.53 33.66 35.19 35.26 35.32 35.39 36.09 36.09 36.17 36.16 37.22 37.31 37.30 37.40 38.44 38.55 38.51 38.63

PCI

PCS

PCI

PCS

PCI

Kcal/Kg

Kcal/L

Kj/L

PCS

Oil

PCI

10,008

9,374

8,686

39,250

36,371

Diesel Oil

PCS

10,000

9,159

8,680

38,350

36,343

Fuel Oil

PCI

9,583

10,217

8,318

42,780

34,827

Kcal/Kg

11,000

6,486

9,548

27,160

39,977

Petroleo’s Milkshake Gas

Gaseous Fuel

Kcal/L

PCI

PCS

PCI

Kcal/L

Kcal/m3

Kj/L

Wet Natural Gas

Kj/L

8,240

43,770

34,500

Dry Natural Gas

9,256

8,500

38,750

35,584

PCS

PCI

PCS

PCI

Kcal/Kg

Kj/Kg

Vegetable Coal

7,500

6,500

30,560

27,213

Coque’s Vegetable Coal

7,300

6,998

30,560

29,299

Solid Fuels

[2000 - 2011] Año

Liquid Fuel

PCS

Average 16.18 16.18 16.69 16.69 17.45 17.59 29.06 29.37 41.25 41.93 30.00 30.28 33.09 33.30 33.02 33.17 34.41 34.53 35.89 35.97 36.74 36.82 38.01 38.09

ENERGY UNITS J

Cal

Btu

KVh

0.2388

0.009478

0.000000277

Calories

Cal

4.1869

0.0039683

0.000001163

Term Unit British

Btu

1055.06

252

0.00029307

Kilowatt / Hours

KVh

3600000

8598000

3412.14

Joulie

DENSITY UNITS Kg / m3

Lb / Pie 3

Lb / Gl (UK)

Lb / Gl (US)

Kg / m3

0.062428

0.010022

0.008345

Pound / Cubic Feet

Lb / Pie 3

16.0185

0.160544

0.133681

Pound / Gallon UK

Lb / Gl (UK)

99.7764

6.22884

0.83268

Pound / Gallon USA

Lb / Gl (US)

119.826

7.48047

1.20094

Kilograms / Cubic Meters

Fuente: Banco Central de la República Dominicana

AES Dominicana

MASS UNITS Kg

Ton.

Large Ton

Short Ton

Pound (Lb)

0.001

0.000984

0.001102

2.2046

Ton

1000

0.984207

1.10231

2204.62

Large Ton

1016

1.016

1.12

2240

Short Ton

907

0.907

0.892857

2000

Pound

0.4535

0.0004535

0.000446429

0.0005

Kilo

VOLUME UNITS Cubic Centimeters

cm3

Cubic Meters

cm3

Feet 3

Inch 3

Gal (UK)

Gal (USA)

BBL

Liters (Lt)

0.000001

0.0000353

0.06102

0.00021997

0.00026417

6.2899E-06

0.006102

1000000

35.3147

61000

219.969

264.17

6.28976

1000.028

Cubic Feet

Feet 3

28320.589

0.028317

1727.556

6.2288

7.4805

0.178107

28.321

Cubic Inch

Inch 3

16.387

0.00001639

0.00057863

0.00360465

0.00432898

0.0001031

0.0163866

Gallon

Gal (UK)

4546.09

0.004546

0.160544

277.42

1.20094

0.028594

4.54596

Gallon

Gal (US)

3785.41

0.003785

0.133681

231

0.83268

0.02381

3.78533

Barrels

BBL

158984

0.158988

5.6146

9698.024

34.9726

158.984

Liters (Lt)

1000.028

0.001

0.03531

61.0255

0.219976

0.264178

0.0063

Liters