New Report Finds Significant Benefits of the SWIP

ST. LOUIS, Mo., Dec. 2 /PRNewswire/ — Great Basin Transmission, LLC
(“GBT”) is pleased to announce the release of a new report issued by Energy
Strategies, LLC that identifies the significant benefits of the Southwest
Intertie Project (“SWIP”).

The report titled “The Southwest Intertie Project: An Assessment of
Potential Benefits” concludes that the SWIP will provide significant benefits
to the Northwest and Southwest regions of the U.S. and to the holders of SWIP
transmission capacity. The report further concludes that cost savings to
utilities in the Southwest for renewable portfolio standard compliance could
be between $195 million and $500 million annually before accounting for the
cost of transmission. The benefits identified in the report include:

— Increased renewable resources by providing transmission to facilitate
wind and geothermal renewables located in northern Nevada and the Northwest
and solar resources located in the Southwest

— Cost savings from economy energy transfers between the Northwest and
Southwest Regions

— Cost savings for Load Serving Entities with obligations to satisfy
renewable portfolio standards

— Increased transfer capabilities for meeting future capacity and energy
needs

— Significant CO2 reductions by facilitating renewable resources and the
efficient transfer of energy

— Increased system diversity by connecting diverse generation and load
regions

— Renewable portfolio standard compliance by enabling the delivery of
renewables to load

The report finds that renewable projects in the Northwest with access to
the SWIP may have a significant cost advantage over renewable projects in the
Southwest. The report also finds that regional wholesale energy price
differences will create market opportunities for owners of SWIP transmission
capacity. Further, the report identifies the opportunity for winter peaking
utilities in the Northwest and summer peaking utilities in the Southwest to
utilize the SWIP for seasonal capacity and energy exchanges thereby reducing
or delaying the need for new resources.

The SWIP is a proposed 500 kilovolt (kV) independent transmission project
stretching over 500 miles between southern Idaho and southern Nevada. As much
as 1,850 megawatts (“MW”) of north-to-south transmission capacity and 1,850 MW
of south-to-north transmission capacity are available for purchase through an
Open Season. Entities interested in submitting a proposal should register at
http://www.SWIPOS.com to access important information about the Open Season.
GBT is accepting proposals to purchase long-term transmission rights on the
SWIP until December 10, 2008.

The entire report by Energy Strategies on the benefits of the SWIP can be
found at http://www.SWIPOS.com. Questions about the SWIP and the Open Season
may be submitted via e-mail to SWIP@SWIPOS.com.

GBT is a single purpose company formed to develop, finance, construct,
own, and operate the SWIP. GBT is owned by DLS Power Holdings, LLC, a joint
venture between LS Power and Dynegy. For more information on LS Power and
Dynegy please visit http://www.lspower.com and http://www.dynegy.com.

[Via http://www.prnewswire.com]

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