New Colorado - Wyoming Transmission Offering

CHEYENNE, Wyo., March 31 /PRNewswire-USNewswire/ -- A new transmission line
connecting the Front Range of Colorado with the wind-rich high plains of
eastern Wyoming is planning to offer capacity rights in an open auction in
June 2008. The Wyoming-Colorado Intertie (WCI) Project has announced its time
line for an Open Season auction for up to 900 MW of transmission capacity
between the two states. If the auction is successful the project sponsors
will complete the siting and permitting, construct the line and begin
operation by mid-2013. It is expected that much of the capacity will be
committed for delivering Wyoming's high-quality wind resources to the benefit
of consumers in Colorado.

The WCI Project is a public/private development partnership involving the
Wyoming Infrastructure Authority (WIA), Trans-Elect Development Company LLC
(Trans-Elect), and the Western Area Power Administration (Western), with
Trans-Elect managing the development effort. The partnership was first
announced September 27, 2005 and the pending Open Season culminates over two
years of intensive development activity.

Colorado Governor Bill Ritter Jr. and Wyoming Governor Dave Freudenthal
both praised the transmission initiative. Governor Ritter said,
"this project embodies a regional, collaborative approach that will
strengthen the New Energy Economy in Colorado as well as in Wyoming.
When this line is energized it will enhance the reliability and
affordability of wind power for Colorado consumers and at the same time help
enhance Wyoming's renewable energy business. This is another step toward a
more secure environmental, economic and energy future for these two states."

Governor Freudenthal added, "this transmission line will serve as a critical
artery for the delivery of Wyoming's world-class wind power to growing markets
along the Front Range. It is important that states work together to support
such efforts as they will prove valuable in the future as we work to
blend renewable energy sources with power generated in more traditional
ways."

It is anticipated that the new transmission line will be regulated by the
Federal Energy Regulatory Commission (FERC) and the Open Season has been
designed to comply with federal regulatory policy. CRA International, Inc.
has been retained by the Project to design and implement the auction and to
evaluate bids. The timing of the Open Season has also been scheduled to be
compatible with the Public Service Company of Colorado's (PSCo's) new
resource plans, which includes purchasing 500 MW of wind with
deliveries beginning in 2013. PSCo plans to issue a bid for this wind energy
later this year after the plan is approved by the Colorado Public Utilities
Commission.

A draft of the Open Season documents describing the process, timeline,
products to be offered, bidder qualification, and bidding rules are posted on
the WCI website. Utilities, generation developers and other market
participants considering bidding in the WCI auction are encouraged to review
these documents and provide comments by April 21 in accordance with the
instructions on the website. Visit the WCI website at
http://www.WCIntertie.com and follow the instructions for registration.

Steve Waddington, WIA executive director, said "the WCI Open Season
is the culmination of a regional effort over several years to
eliminate a long-standing transmission constraint between Colorado and
Wyoming. Once commitments for the project capacity have been made through the
Open Season, the benefits of Wyoming resources can be added to Colorado's
resources and delivered to consumers along the Front Range. We expect
utilities will also benefit because increased opportunities to sell and buy
short-term power will be created between the two states."

Robert Mitchell, CEO of Trans-Elect, stated that "Trans-Elect is proud to have
worked with its partners to bring the WCI Project to this critical position.
We are optimistic that electric utilities and wind developers will make
the commitments necessary for the project to proceed."

Tim Meeks, Western Area Power Administration (Western) administrator, pointed
out, "Western and Trans-Elect have a proven track record for success in
getting transmission built. In a public-private partnership with Pacific Gas
& Electric Co., we completed the $250 million, 84-mile transmission expansion
project in California known as Path-15. The project was electrified in 2004,
ahead of schedule and substantially below budget."

Trans-Elect, based in Bethesda, Maryland with regional offices in Denver and
Chicago, formed in 1999 as the first independent transmission company in North
America to pursue the development of independently owned electric transmission
with the twin objectives of increasing the reliability of the system and
lowering costs to consumers. Trans-Elect is affiliated with AES, a global
energy development corporation.

Created in 2004 by the State of Wyoming, the WIA's mission is to diversify and
expand the state's economy through improvements in Wyoming's electric
transmission infrastructure to facilitate the consumption of Wyoming energy.
The Authority can participate in planning, financing, constructing,
developing, acquiring, maintaining and operating electric transmission
facilities and their supporting infrastructure. Legislation provided the WIA
with bonding authority, and other powers, to promote transmission development
in the state and throughout the region. It also provided the State Treasurer,
with the approval of the State Loan and Investment Board, the authority to
invest in WIA bonds.

Part of the U.S. Department of Energy, Western annually markets and transmits
more than 10,000 MW of power from hydroelectric power plants owned and
operated by the Bureau of Reclamation and the Army Corps of Engineers in 15
central and western states. Western is the operator of the transmission lines
that currently link Colorado and Wyoming.

SOURCE Trans-Elect Development Company LLC

Frank Maisano, +1-202-828-5864, frank.maisano@bgllp.com, for Trans-Elect
Development Company LLC; Steve Waddington, Wyoming Infrastructure Authority,
+1-307-635-3573, stevew@wyia.org; or Randy Wilkerson, Western Area Power
Administration, +1-720-962-7056, or wilkerson@wapa.gov