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National Grid USA Oil Overview

National Grid USA Oil Overview. 2007 Fuel Oil/Energy Buyer’s Conference October 30, 2007 Miami Beach, Florida. Who is National Grid. Largest utility in the UK and the second largest utility in the US Based in both the United Kingdom and the US

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National Grid USA Oil Overview

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  1. National Grid USA Oil Overview 2007 Fuel Oil/Energy Buyer’s Conference October 30, 2007 Miami Beach, Florida

  2. Who is National Grid • Largest utility in the UK and the second largest utility in the US • Based in both the United Kingdom and the US • Principal business is the transmission and distribution of electricity and natural gas • 28,000 employees (18,000-US, 10,000-UK) • Owns 6,650 megawatts of generating capacity, one of the largest in the Northeast US

  3. Who is National Grid (cont’d) • Key Events • 2007 Acquired KeySpan • 2006 Acquired Rhode Island Gas Distribution network • 2005 National Grid Transco rebranded as National Grid • 2002 National Grid merged with Lattice to form National Grid Transco • 2002 Acquired Niagra Mohawk Power Corp • 2000 Acquired New England Electric System and Eastern Utilities Associates • 1995 National Grid listed on the London Stock Exchange • 1990 National Grid established following UK electricity privatization • Largest investor-owned electric generator in New York State • Operates Long Island Power Authority electric system serving 1.1 million customers • Largest distributor of natural gas in the Northeast US

  4. Electricity Distribution Operating Area - US

  5. KeySpan Energy Trading Services • “Energy Manager” for the Long Island Power Authority (LIPA), managing the fuel requirements for the electric generating plants • Procure, transport, store & deliver gas, oil and purchased power • Trade gas, electric, NOx & SO2 emission credits

  6. Electric Generation CapacitySteam Fired

  7. Other - Electric Capacity • Gas Turbines (42 Units ): 1660 Mw • Fuel: • Kerosene: 626 Mw • No. 2 Oil: 536 Mw • Dual: Natural Gas & No. 2 Oil: 326 Mw • Dual: Natural Gas & Kerosene: 160 Mw • Diesel Oil: 12 Mw • Ravenswood: 2400 Mw • Steam: 1750 Mw • Dual: Natural Gas & Residual Fuel Oil • Combined Cycle: 250 Mw • Dual: Natural Gas & Kerosene • Gas Turbine: 400 Mw • Dual: Natural Gas & Kerosene

  8. Fuel Types & Grades • No. 6 Residual Fuel Oil - Low Sulfur • 0.7% S, 0.37% S & 0.30% S • No. 2 GasTurbine Fuel Oil • Kerosene • Diesel Fuel Oil

  9. Inventory Control • Availability of More Economic Natural Gas & Purchase Power • Target Levels - Seasonal • Unit Outages

  10. Inventory (Reg. Co.) • No. 6 Resid Fuel Oil – 2.2 mil. bbls • 0.7% S at Northport & Port Jefferson • 0.37% S at E F Barrett • Kerosene - 6.6 mil gal.@10 sites • No.2 Fuel Oil– 5.4 mil gal.@7 sites • Diesel Fuel Oil – 77,000 gal.@ 2 sites

  11. Historical Consumption (Reg. Co.) Resid Fuel OilKero & No. 2 Oil (Barrels) (Gallons) • 2002: 9,800,000 61,160,000 • 2003: 12,900,000 73,900,000 • 2004: 12,700,000 43,000,000 • 2005: 13,200,000 44,700,000 • 2006: 5,310,000 21,600,000 • 2007: 6,670,000 (est.) 25,600,000 (est.)

  12. Number of Deliveries • Truck deliveries • 1,360 (2006), 1,960 (2005) • 17 generating sites • Waterborne deliveries • 68 (2006), 171 (2005) • 4 generating sites

  13. Residual Fuel Oil Quality

  14. Kerosene Quality- Barge Delivered

  15. Kerosene Quality- Truck Delivered

  16. No.2 Oil Quality- Truck Delivered

  17. Delivery Logistics • Residual Fuel Oil: • Barges (100,000 &13,000 barrels) • Ships (300,000 barrels) • Kerosene/No.2 Gas Turbine Oil: • Trucks (12,000 & 7,500 gal.) • Barges (30,000 barrels)

  18. Seaborne Logistics

  19. Procurement • FOB delivered • One or two year term contracts, allowance for spot purchases • Resid price is based on 5 day spot posting average, Distillate price is based on 3 day spot posting average • 10 day payment terms for waterborne deliveries, 30 days for truck deliveries

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