AES Dominicana 3q10

AES Dominicana, Earning Release - 1 -

3Q10 Relevant Results

AES Andres B.V. and Subsidiary and Dominican Power Partners and Subsidiary announced a combined Net Income of US$23.7 million in the third quarter 2010. Santo Domingo, Dominican Republic, December 15th, 2010 – Today AES Andres and Dominican Power Partners (DPP) announced combined results for the third quarter 2010. All operating and financial information, except where otherwise specified, is based on the combined figures of AES Andres and Dominican Power Partners, and their subsidiaries, and expressed in US dollars in conformity with Generally Accepted Accounting Principles Applicable in the United States (USGAAP).

Revenues increased 65.2% to US$105.7 million in the third quarter 2010 compared to the same period of 2009 and the accumulated Revenues for the nine month period ended in September 2010 increased 71.4% to US$284.6 million. Net Income for the third quarter 2010 was US$23.7 million compared to a Net Income of US$12.7 million in the same period of 2009 and the accumulated Net Income as of September 2010 was US$51.0 million compared to a Net Loss of US$5.7 million in the same period 2009.

(*) Net Income includes interest expenses of US$9.6 million in 3Q10 and US$9.5 million in 3Q09 and US$28.6 million in 9M10 and 28.5 million 9M09, respectively, related to interest under a subordinated intercompany loan under which AES made its capital injections to finance the development and construction of Andres. AES views this loan as an equity investment and the respective interests are a restricted payment under the indenture. External Factors1 Dominican Republic’s

GDP grew 7.6% during 3Q10.

Inflation stood at 4.24% at the end of September, 2010.

The exchange rate as of September 30th, 2010 was RD$37.22 per US dollar (Bid) and RD$37.07 per US dollar (Ask).

Average Nymex Henry Hub natural gas prices were US$4.23 per MMBtu for the second quarter, with a peak of US$4.85 per MMBtu and a low of US$3.65 per MMBtu.2 .

Total electricity demand as of September 30th, 2010 reached 9,012 GWh, an increase of 9.3 % versus the same period 2009.

1 Source: Dominican Central Bank, Coordinating Body and Platts. 2 Pricing under the BP Contract is at a premium to the Henry Hub natural gas price per MMbtu on the NYMEX Index.

Third Quarter Relevant Results Santo Domingo, Dominican Republic December 15th, 2010

Contact: Yandery Teran

Investor Relations Director (1) (809) 955-2223

[email protected]

Inside this report:

Analysis of Financial Results 2-3

Financial Debt Summary 3-4

Liquidity 4

Operational Results 4

Operational Developments 5

Safety Indicators 5

Environmental Matters 5

Financial Statements 6-8

Glossary of Key Terms 10

2.22

2.433.19

9.86 10.839.98

3.58

5.03

4.23

0

2

4

6

8

10

12

3Q09 4Q09 1Q10 2Q10 3Q10

US$

/MM

BTU

Carbón

Fuel-Oil #6

Coal, Natural Gas and Fuel-Oil #6Price Evolution

Gas Natural

3Q10 3Q09 (Millions of US$) 9M10 9M09

105.7 64.0 Revenues 284.6 166.060.9 34.1 Operating costs and expenses 172.9 128.744.8 29.9 Operating income 111.7 37.3

42.4% 46.7% Operating income margin 39.2% 22.5%

23.7 12.7 Net Income (loss) (*) 51.0 (5.7)

(0.2) 4.7Net Cash Provided (Used) by Operating Activities 52.4 1.5



Analysis of Combined Financial Results (In USGAAP) Revenues increased 65.2% to US$105.7 million in the third quarter 2010 compared to the same period of 2009. These results were mainly driven by: (i) higher contracted sales by US$36.1 million, primarily due to an increase in demand which resulted in a higher quantity of energy sales, and higher prices which are indexed monthly to the NYMEX natural gas prices; (ii) higher spot sales by US$4.3 million; and, (iii) an increase of US$1.3 million in natural gas & other sales.

For the nine months ending September 30th, 2010, Revenues totaled US$284.6 million, an increase of 71.4% as compared to the same period of 2009. This result was mainly caused by: (i) higher contracted sales by US$79.0 million, basically to higher prices and higher energy volume; (ii) higher spot sales by US$37.3 million primarily due to higher generation and higher average spot prices; and (iii) higher other sales by US$2.3 million due to higher natural gas sales. It should be noted that lower generation during the nine months ended on September 30th, 2009, that drives the variations described above, was driven by Andres’ limited capacity operation during part of this period.

Revenues consist of the following:

Operating Costs and Expenses increased 78.6%, in the third quarter 2010, to US$60.9 million compared to the same period of 2009. This variance was principally a net result of: (i) higher cost of sales by US$25.0 million, primarily due to higher fuel cost derived from higher generation and higher LNG prices; (ii) Higher operating maintenance and general expenses by US$2.1 million; (iii) positive impact due to derivate instruments by US$1.9 million; and, (iv) higher depreciation expenses by US$1.6 million.

Operating Costs and Expenses for the nine month period ending as of September 30th, 2010, increased 34.3% to US$172.9 million compared to the same period in 2009. This variance was mainly caused by: (i) higher cost of sales by US$43.3 million derived from higher generation, the related increase in LNG consumption combined with higher LNG prices; (ii) higher depreciation and amortization of intangible assets by US$2.7 million; (iii) higher operating, maintenance and general expenses by US$0.8 million; partially offset by a (iv) positive impact due to derivatives instruments by US$2.6 million.

Operating costs and expenses consist of the following:

Total Other Expenses were US$13.1 million in the third quarter 2010 compared to other Expenses of US$9.2 million in the same period of 2009. This increase was mainly a net function of: (i) higher other expenses by US$4.0 million (Gain on sale of investments as result of Sovereign Bonds sold and the insurance reimbursement from the transformer failure were booked during this period in 2009); (iii) higher commercial interest income by US$0.2 million; and, (iv) Lower foreign currency gain by US$0.1 million. As of September 30th, 2010, Net Expenses increased to US$36.8 million, as compared to total expenses in the same period of 2009 of US$34.6 million. This variance was primarily a result of: (i) higher other expenses by US$8.1 million; (ii) favorable asset impairment by US$7.3 million; (iii) lower net commercial interest income by US$2.0 million basically due to lower account receivables; (iv) lower deferred financing cost amortization by US$0.6 million; (v) lower interest financial expenses by US$0.4 million; and, (vI) lower foreign currency gain by US$0.4 million.

3Q10 3Q09 Var% (Millions of US$) 9M10 9M09 Var% 86.7 50.6 71.3 Electricity sales – Contracts 224.5 145.5 54.3 17.2 12.9 33.3 Electricity sales – spot market 55.9 18.6 200.5 1.8 0.5 260.0 Natural Gas Sales & Other Sales 4.2 1.9 121.1

105.7 64.0 65.2 Total Revenues 284.6 166.0 71.4

3Q10 3Q09 Var% (Millions of US$) 9M10 9M09 Var%49.7 24.7 101.2 Cost of sales - electricity purchases and fuel costs for generation & resale 136.0 92.7 46.77.4 5.3 39.6 Operating, maintenance and general expenses 23.9 23.1 3.5

(1.6) 0.3 n/a Derivatives Instruments (1.4) 1.2 n/a5.4 3.8 42.1 Depreciation and amortization of intangible assets 14.4 11.7 23.1

60.9 34.1 78.6 Total Operating Cost and Expenses 172.9 128.7 34.3



Other (Expenses) consists of the following:

3Q10 3Q09 Var% (Millions of US$) 9M10 9M09 Var%(4.2) (4.2) 0.0 Interest (expense) – financial - net (12.5) (12.9) (3.1) 1.9 1.7 11.8 Interest income – commercial and others-net 6.5 8.5 (23.5)

(9.6) (9.5) 1.1 Subordinated intercompany loan interest expense (*) (28.5) (28.5) 0.0(0.4) (0.5) (20.0) Deferred financing costs amortization (1.2) (1.8) (33.3)0.0 0.0 0.0 Investment Asset Impairment Expense 0.0 (7.3) (100.0)

(0.9) 3.1 n/a Other Income (expenses) (1.4) 6.7 n/a0.1 0.2 (50.0) Foreign currency gain 0.3 0.7 (57.1)

(13.1) (9.2) 42.4 Total Other (Expenses) (36.8) (34.6) 6.4

(*)Interest expenses are those generated by the subordinated intercompany loan under which AES made its capital injections to finance the development and construction of Andres.

Net Cash Used in Operating Activities was US$0.2 million for the third quarter 2010 compared to a Net Cash Provided by Operating Activities of US$4.7 million in the same period of 2009, mainly due to the following: (i) Negative impact due to higher accounts receivables by US$13.1 million; (ii) positive impact from higher net income by US$11.0 million; (iii) negative impact due to lower accounts payables by US$10.8 million; (iv) positive impact of lower inventory by US$5.5 million; and, (v) positive reconciling adjustment by US$2.5 million reconciling net income to net cash used in operations.

Net Cash Provided by Operating Activities for the nine month period ending September 30, 2010 was US$52.4 million compared to a Net Cash Provided by operating activities of US$1.5 million for the same period in 2009. This variation was primarily the result of: (i) higher net income by US$56.7 million; (ii) higher income tax paid by US$22.2 (Andres did not pay income tax in advance during 2009); (iii) lower accounts payable by US$20.8 million; (iv) lower accounts receivable by US$17.6 million due to collections in March 2010 that resulted from Government Stand-By Agreement with the IMF and the subsequent positive timely payment by the Government for the remainder of this period; (v) lower inventory by US$13.6 million; and, (vi) US$6.1 million higher positive reconciling adjustments, reconciling net income to net cash provided by operations.

Free Cash Flow (a non-GAAP financial measure defined as net cash from operating activities less capital expenditures defined in the accompanying financial statement as Additions to Property, Plant and Equipment and advances to suppliers in purchases of PP&E) was net cash used of US$2.8 million for the third quarter 2010. In addition to the net cash used in Operating Activities of US$0.2 million, during this period, there were additions to property, plant and equipment of US$2.6 million.

As of September 30th, 2010, the Free Cash Flow was net cash provided of US$44.0 million. In addition to the net cash provided by operating activities of US$52.4 million, there were additions to property, plant and equipment by US$8.4 million.

Financial Debt Summary On October 28th 2010 Andres announced an offer to purchase all of its outstanding international Notes, through a Tender Offer expiring on November 26th, 2010. This Tender Offer included an option for investors to provide Early Consent by November 10th, 2010 in exchange for a premium over the tender price.. On November 12th and concurrent with the Early Consent, AES Andres, through its newly established Andres Dominicana subsidiary, issued $167.5M of senior notes and announced that any notes not tendered by November 26th, 2010 would be called by December 13th, 2010. The new Senior Notes expire on November 12, 2020 and bear interest at 9.5%.

(*) (1) After tax rates. (2) The Notes effective rate includes the interest income accrued by the interest debt reserve.

Financial Debt Sep-10 Dic-09(expressed in millions of US$)

Local Currency - - Foreign Currency 156 161Total Debt 156 161

Fixed Rate 100% 100%

Variable Rate 0% 0%Short Term 0% 0%

Long Term 100% 100%Financing Cost (*) 12.22% 11.86%

Average Life (years) 5 6



As of September 30th, 2010 Andres DPP AggregateInstalled capacity (MW) 319 236 555 Power Generation Units 1 2 3 Effective capacity (MW) 304 236 540 Contracted capacity (MW) 117 210 327

Liquidity

Collections

In the third quarter of 2010, the average collections rate stood at 69% compared with 72% registered in the same quarter of 2009. The reason for this decrease is basically that the Distribution Companies did not receive the subsidy fund from the Government on time during September.

YTD September 30th, 2010, the average collection rate was 96%, against 123% in the same period 2009. During this period the electricity sector has benefited from the DR Government’s receipt of funds under the Standby Agreement with the IMF. Currently, AES Dominicana accounts receivables have 87 days sales outstanding, (DSO) compared to 168 during the same period of 2009.

Operational Results

In the third quarter of 2010, the Combined Net Generation was up by 45.1% relative to the third quarter of 2009, from 621 GWh in 2009 to 901 GWh in 2010, primarily a result of DPP operating as a base load power plant during this period. Total Energy Sold during 3Q10 was 901 GWh, an increase of 43.7% compared with Q309, a function of the higher generation mentioned above and more UNR clients. During the third quarter 2010, Andres’ Firm Capacity increased 13.9% to 263MW, and the EFOR was 0.1. DPP’s Firm Capacity increased 35.3% as a result of higher availability since the operational improvements performed on its units.

As of September 30th 2010, Combined Net Generation was 2,427 GWh, an increase of 55.1% compared to the same period of 2009. This increase was mainly a net result of two factors: (i) Los Mina/DPP was generating as base load power plant; and, (ii) during the first half 2009 Andres’ was operating at limited capacity because of the transformer failure that occurred in December 2008. The Energy Sold increased 46.5% to 2,440 GWh, basically due higher generation, higher UNRs sales and new contracts with EDESur and EDENorte (in 2009, we only had one energy contract with EDENorte). Andres’ Firm Capacity increased 15.9% to 255MW and the EFOR decreased from 18.0% to 0 -- 2009 EFOR was affected by the transformer failure in 2009 and the implementation of several operational improvement initiatives has also helped improve the metrics in 2010. DPP’s EFOR decreased 92% primarily a result of the replacement of Turbines Control System.

* Data revised.

Sovereign Bonds Effect

Collection Rate

IMF Agreement

Effect

Rating Agency Rating OutlookFitch Ratings Senior Notes 2015 B- StableStandard & Poor's Senior Notes 2015 B- PositiveFitch Dominicana Guaranteed Ordinary Bonds BBB (dom)

72%

167%

120% 100%

69%

3Q09 4Q09 1Q10 2Q10 3Q10

3Q10 3Q09 Var.% Operating Data 9M10 9M09 Var.%

915 634 44.3 Gross generation GWh 2,465 1,593 54.7 (14) (13) 7.7 Internal consumption GWh (38) (28) 35.7

901 621 45.1 Net Generation GWh 2,427 1,565 55.1

901 627 43.7 Total Energy Sold GWh 2,440 1,666 46.5 263 231 13.9 Andres' Firm Capacity MW 255 220 15.9

7,636 7,760 (1.6) Andres Heat Rate Btu/KWh 7,626 7,923* (3.7) 97 98 (0.7) Andres EAF % 96 72 33.3

0.1 0.7 (85.7) Andres EFOR % 0 18.0 (100.0) 23 17 35.3 DPP's Firm Capacity MW 22 19 15.8 98 83 18.8 DPP EAF % 80 91 (12.1)

0.1 2.1 (95.2) DPP EFOR % 0.4 5.0 (92.0)



Operational Developments As of September 30th, Andres had 40 UNRs contracts, totaling 67 MW.

During the third quarter 2010, three vessels docked at Andres LNG Terminal carrying around 9 TBtu of natural gas.

On October 4th, 2010, Andres and Falcondo signed a 3 year commercial offer of 400 GWh in year 2011 and 590 GWh in years 2012 and 2013 respectively. The supply is expected to take place beginning on January 1st, 2011.

Safety Indicator

During the third quarter of 2010, Andres and DPP accomplished the goal of zero Lost Time Incidents (LTI) and no fatalities.

As part of the new Safety initiatives being implemented, a new program call “Safe Start” was started.

Safety training for the following programs was given to all employees and contractors:

- Electrical safety

- Job Safety Analysis

- Confined Space

- Lock out / Tag Out

- Proactive Safety

- Hot work

- Hoisting and Rigging

- Fall prevention

- Emergency preparedness

Environmental Matters During the third quarter 2010, the Environmental Compliance Report ICA No. 11 and No. 2, for the period January – February 2010, was submitted to the Environmental Ministry.

As of September 30th, 2010 we have complied with all environmental requirements.

AES Dominicana Group received from RENAEPA (Red Nacional Apoyo Empresarial para la Proteccion Ambiental) the “Decalogue RENAEPA award” for compliance in a set of ten principles in the environmental protection.



AES Andres B. V. and SubsidiaryDominican Power Partners and Subsidiary(Indirect Wholly-Owned Subsidiaries of The AES Corporation)

UNAUDITED PRO FORMA COMBINED STATEMENTS OF OPERATIONS(Expressed in US$ Thousands)

3Q10 3Q09 9M10 9M09

REVENUES86,684 50,564 Electricity sales – contracts 224,456 145,534 17,203 12,879 Electricity sales – spot market 55,940 18,587 1,803 500 Natural gas sales 4,175 1,737

- - Commodity derivative loss - - 13 14 Other sales 39 142

105,702 63,958 Total revenues 284,610 166,001

OPERATING COSTS AND EXPENSES49,567 23,741 Cost of sales – electricity purchases and fuel costs used for generation 134,341 91,791

121 933 Cost of sales – fuel and fuel related costs purchased for resale 1,637 933 7,387 5,285 Operating, maintenance and general expenses 23,868 23,099

(1,639) 298 Derivatives instruments (1,385) 1,233 5,433 3,833 Depreciation and amortization of intangible assets 14,454 11,719

60,868 34,091 Total operating costs and expenses 172,914 128,774

44,834 29,867 OPERATING INCOME 111,696 37,226

OTHER INCOME (EXPENSES) (2,268) (2,520) Interest expense – net (5,937) (4,427) (9,634) (9,530) Subordinated intercompany loan interest expense (*) (28,589) (28,589)

- 0 Investment Asset Impairment Expense - (7,226) (381) (466) Deferred financing costs amortization (1,148) (1,711) (929) 3,097 Other income (1,462) 6,639 121 157 Foreign currency gain 331 630

31,743 20,605 INCOME BEFORE TAXES 74,892 2,543

(8,019) (7,854) Income tax expense (23,897) (8,194)

23,724 12,751 NET INCOME (LOSS) (**) 50,995 (5,652)

The company’s Financial Results were prepared in Dollars in conformity with Generally Accepted Accounting Principles in the United States, as of any date of determination, or “GAAP.”

(*) Interest expenses are those generated by the subordinated intercompany loan under which AES made its capital injections to finance the development and construction of Andres.

(**)Net Income includes interest expenses of US$9.6 million in 3Q10 and US$9.5 million 3Q09 and US$28.6 million in 9M10 and US$28.5 million in 9M09, related to interest under a subordinated intercompany loan under which AES made its capital injections to finance the development and construction of Andres. AES views this loan as an equity investment and the respective interests are a restricted payment under the indenture.

.




AES Andres B. V. and SubsidiaryDominican Power Partners and Subsidiary(Indirect Wholly-Owned Subsidiaries of The AES Corporation)UNAUDITED PRO FORMA COMBINED BALANCE SHEETS(Expressed in US$ Thousands)

Sept. 2010 Dec. 2009

ASSETSCURRENT ASSETS

Cash and cash equivalents 100,789 61,831 Restricted cash 1,196 1,209 Short term investment - 1,171 Accounts receivable 136,364 111,580 Accounts receivable – related parties 31,244 6,508 Other receivable 127 2,180 Other receivable – related parties 6,068 2,848 Inventories 18,396 19,407 Income tax receivable - - Prepaid expenses 5,684 1,483 Deferred tax asset 783 3,155 Derivative asset - -

Total current assets 300,652 211,373

PROPERTY, PLANT AND EQUIPMENT Land 10,370 10,370 Plant and electricity generating equipment 581,012 573,919 Less accumulated depreciation (134,225) (121,645)

Property, plant and equipment 457,157 462,644

OTHER ASSETS Intangible assets – net - - Deferred financing costs – net 3,124 3,750 Long term accounts receivable 23,138 25,157 Debt service reserves 8,580 8,580 Long term investment - - Other assets 1,267 1,590 Total other assets 36,109 39,077

TOTAL 793,918 713,094

LIABILITIES AND SHAREHOLDER'S EQUITY

CURRENT LIABILITIESAccounts payable and accrued liabilities 39,035 16,667 Accounts payable and accrued liabilities – related parties 5,321 3,422 Notes payable - short term - 5,000 Intercompany loan interest 9,634 - Income tax payable 33,384 46,862 Deferred income tax - short term 13,217 4,726

Total current liabilities 100,590 76,678

LONG TERM LIABILITIESDeferred income tax - long term 22,212 21,373 Intercompany loan 413,153 413,153 Notes payable 156,000 156,000 Long term derivative 370 453 Long term compensation 67 - Other liabilities 5,241 253

Total long term liabilities 597,042 591,233

SHAREHOLDER'S EQUITY

Common stock 15,019 15,019 Contributed capital 108,420 109,158 Additional paid–in capital 1,336 (299) Accumulated losses (28,454) (78,660) Accumulated other comprehensive loss (37) (35)

Total shareholder's equity 96,285 45,183

TOTAL 793,918 713,094



AES Andres B. V. and SubsidiaryDominican Power Partners and Subsidiary(Indirect Wholly-Owned Subsidiaries of The AES Corporation)

UNAUDITED PRO FORMA COMBINED STATEMENTS OF CASH FLOWS(Expressed in US$ Thousands)

3Q10 3Q09 9M10 9M09OPERATING ACTIVITIES:

23,724 12,729 Net income(Loss) 50,995 (5,674) Adjustments to reconcile net income to net cash

provided by operating activities:5,433 3,855 Depreciation and amortization 14,454 11,740 (337) 298 Derivative instruments (83) 1,233

7,048 1,020 Income tax expense 20,184 970 381 466 Deferred financing costs amortization 1,148 1,711 - Loss on sale of investment - - 888 Loss on asset disposal 1,438 1,678

0 0 Foreign currency translation (2) 1 58 63 Long term incentive compensation 185 172

971 6,835 Deferred income tax expense 3,713 7,225 - (1,379) Investment Asset Impairment Expense - 5,032 - - Changes in assets and liabilities:

(33,331) (17,480) Decrease (increase) in accounts receivable (18,917) (31,421) (20,964) (21,291) Increase in accounts receivable – related parties (24,736) (26,300)

284 (239) Decrease in other receivable 2,053 (129) (446) (2,344) Increase in other receivable – related parties (3,220) (4,538) (131) (5,680) Decrease (increase) in inventory 1,011 (12,586)

- - Decrease in income tax receivable - 12,200 (1,103) 1,306 Increase in prepaid expenses (4,201) (702)

607 (54) Decrease in deferred tax asset 2,372 1,176 - 1,699.85 Long – term accounts receivable - 1,700 - - Other assets - -

21,213 13,990 Increase in accounts payable and accrued liabilities 31,083 33,421 1,369 19,401 Increase in accounts payable and accrued liabilities – related parties 1,898 20,349

(18,723) (8,406) Decrease in income tax payable (37,510) (15,302) - - Intercompany interest payment - -

7,808 (137) Decrease in deferred tax liability 5,616 (448) 70 79 Decrease in long term compensation 5 -

4,994 (65) (Decrease) increase in Other liabilities 4,963 (19) (188) 4,667 Net cash provided by (used in) operating activities 52,448 1,489

INVESTING ACTIVITIES:(2,579) (2,303) Additions to property, plant and equipment (8,365) (18,165)

- 34,957 Decrease in long term investment - 50,030 (13) (6) Decrease in restricted cash - (15) Decrease in short term investments 1,171 (14) 47 (713) (Decrease) increase in other deposits (788) (655)

(2,545) 31,921 Net cash provided by (used in) investing activities (7,982) 31,196

FINANCING ACTIVITIES:(5,000) (15,404) Payments on borrowings (5,000) (15,404) 5,000 15,404 New borrowings – Notes payable - 5,000

13 6 (Increase) decrease in restricted cash 13 6 (0) 1 Financing costs payments (521) (700) 13 7 Net cash provided by (used in) financing activities (5,508) (11,098)

(2,721) 36,595 NET INCREASE (DECREASE) IN CASH 38,958 21,587

103,509 25,427 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 61,831 40,435

100,789 62,022 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 100,789 62,022




The pro forma combined balance sheet and statement of operations presented in this report have not been audited and were derived from the unaudited consolidated financial statements of Andres and the unaudited consolidated financial statements of DPP. The information provided by the consolidated financial statements of Andres and the consolidated financial statements of DPP has been prepared in accordance with USGAAP.

The unaudited pro forma combined financial information described above is being provided for illustrative purposes only. Andres and DPP may have performed differently if they had actually been combined during the periods presented. This unaudited pro forma combined financial information should be read in conjunction with the unaudited consolidated financial statements as of and for the periods ended on September 30th, 2010 and 2009 and December 31, 2009, and notes thereto, of each of Andres and DPP. You should not rely on the pro forma combined financial information as being indicative of the historical results that would have been achieved by Andres and DPP if they had always been combined.

Andres and DPP, affiliates of The AES Corporation (AES), own and operate power generation units that in the aggregate have 555 MW of installed capacity, which represent approximately 21% of the current total installed capacity, in the Dominican Republic. Andres also has the only liquefied natural gas, or LNG, shipment receiving terminal in the Dominican Republic, a degasification facility and a storage facility, or LNG facility, and a natural gas pipeline to Santo Domingo.

The AES Corporation (NYSE: AES) is a Fortune 500 global power company with generation and distribution businesses. Through our diverse portfolio of thermal and renewable fuel sources, we provide affordable and sustainable energy to 29 countries. Our workforce of 27,000 people is committed to operational excellence and meeting the world's changing power needs. Our 2009 revenues were $14 billion and we own and manage $40 billion in total assets. To learn more, please visit www.aes.com.

This report may contain forward-looking statements speculative in nature based on the information, operational plans and forecasts currently available about future trends and facts. As such, they are subject to risks and uncertainties. A wide variety of factors may cause future real facts to differ significantly from the issues presented or anticipated in this report, including, among others, changes in general economic, political, government and business conditions. In the event of materializing any of these risks or uncertainties, or if underlying assumptions prove to be mistaken, future real facts may vary significantly. AES Dominicana is not bound to update or correct the information contained in this report.

Please address any questions or comments related to this report to Investor Relations, email address: [email protected]



Glossary of key terms

Btu: British thermal units 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.

TBtu Trillion of Btu.

CDEEE: Corporación Dominicana de Empresas Eléctricas Estatales.

Coordinating Body: “OC” or “Organismo Coordinador”. Whose function is to plan and coordinate the economic operations of the power providers with those of the transmission, distribution and commercialization system that form the SENI.

Deregulated Users (UNR): The user of the electrical service which monthly demand exceeds the limits established by Superintendence in order to be classified as an unregulated user under the General Electricity Law.

DPP: Dominican Power Partners.

EAF: Equivalent Availability Factor

Effective Capacity: The currently available capacity, as of any date of determination, for generation of a unit or the amount of MW that a power generation unit can reliably generate.

EFOR: Equivalent Forced Outage Rate

Firm Capacity: The amount of capacity assigned by the Coordinating Body to each power generation unit for being available to cover the demand in peak hours.

FX: Foreign exchange, a banking term for changing money from one currency into another.

GDP: The gross domestic product (GDP) is one of the measures of national income and output for a given country's economy. GDP is defined as the total market value of all final goods and services produced within the country in a given period of time (usually a calendar year).

Henry Hub: The specific pricing point for natural gas future contracts on the New York Mercantile Exchange, or NYMEX.

Installed capacity: The amount of MW a turbine is designed to produce upon installment (name-plate capacity).

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 at atmospheric pressure and -163° C, the liquefaction process reduces the volume of gas by 600 times.

PPA: Power Purchase Agreement.

SENI: Sistema Eléctrico Nacional Interconectado or the National Interconnected Electrical System.

AES Dominicana 3q10

Documents

Transcript of AES Dominicana 3q10