The GDS Brochure contains a description of all of our consulting services and our mission statement.

2. O
UR MISSION IS:
TO HELP OUR CLIENTS SUCCEED
BY ANTICIPATING AND UNDERSTANDING THEIR NEEDS
AND BY EFFICIENTLY DELIVERING QUALITY SERVICES
WITH CONFIDENCE AND INTEGRITY.

3. GDS ASSOCIATES, INC. IS A MULTI-SERVICE CONSULTING AND ENGINEERING FIRM
formed in 1986. Our consultants are recognized leaders in their respective fields, dedicated
PROVEN
to their clients, innovative in their approach to meeting unique challenges, and known for
consistently being available when needed. Our broad range of expertise focuses on
clients associated with, or affected by, electric, gas, water and wastewater utilities.
In addition, we offer information technology, market research, and statistical services to a
diverse client base.
A succinct description of our traditional
clients’ business is “capital intensive.”
Although typically associated with the
substantial funds needed to provide
utility services, that characteristic more
generally applies to the significant
investment in resources that our clients
must make to achieve their goals.
Selection of the proper resources
ultimately determines their success or
failure. By providing an extensive supply
of dependable resources, GDS
Associates, Inc. strives to develop long-
term client relationships. Our goal is to
be a wise investment in consulting
services for our clients.
RIGHT-FIT SOLUTIONS

4. THERE ARE SEVERAL HALLMARKS OF WISE CONSULTING INVESTMENTS.
PERFORMANCE
F IRST, THEY ARE FOUNDED ON PROVEN PERFORMANCE,
not promises of speculative results. GDS Associates’ long history of
meeting client needs has established our reputation within the industry.
In fact, most of our project assignments are derived from repeat work
for existing clients or from client referrals.
DIVERSE RESOURCES
SECONDLY, WISE INVESTMENTS REFLECT A DIVERSIFICATION
of capabilities. Drawing upon many years of experience in problem-
solving for both utility and non-utility clients, we have developed a
keen insight into the causes and cures of our clients’ challenges. In
addition, the size and depth of our firm permit us to offer clients
multiple sources for assistance, ensuring that we will complete the
requested services in a competent and timely manner.
KEEN INSIGHT
FINALLY, WISE INVESTMENTS ARE THOSE THAT MATCH THE
correct resources with specific needs. No two clients or problems
are exactly alike. GDS Associates strives to deliver “right-fit” solutions
for each client’s particular situation.

5. OUR CORE VALUES:
• We endeavor to identify, then meet or exceed our clients’ needs.
• We gauge our overall success in terms of our clients’ success, by
promoting a partnership perspective.
• We will conduct our practice at all times with honesty and integrity.
• Our consulting staff will possess the requisite knowledge and
experience to solve our clients’ problems.
• Our services will be competently performed, and our work product
will be presented in a professional, understandable manner.
• Our financial success is founded on long-term client relationships,
proficient project management, and efficient infrastructure.
• We encourage professional development of our employees by
providing opportunities for challenging work.
• We promote a working environment of mutual respect and
cooperation among our employees.
GDS SERVICES:
Power Supply Planning Services
Financial Analysis and Rate Services
Generation Services
Regulatory and Restructuring Services
Renewable Energy Resources, Distributed Generation, and Combined Heat and Power Services
Energy Efficiency and Demand-Side Management Services
Electric Planning and Design Services (Hi-Line Engineering, LLC)
Environmental Management Services (GreenLine Environmental)
Deregulation and Retail Energy Procurement Services
Utility Privatization Services
Water and Wastewater Utility Consulting Services
Natural Gas Consulting Services
Statistics and Market Research Services
Information Technology Services

6. Corporate Headquar ters: 1850 Parkway Place, Suite 800, Marietta, Georgia 30067 • Voice: 770.425.8100 • Fax: 770.426.0303 • www. gdsassociates.com
919 Congress Avenue 1181 Elm Street 437 So. Yellowstone Drive 1826 Opelika Road 1000 Harris Avenue
Suite 800 Suite 205 Suite 212 Aubur n, Alabama 36830 Suite 16
Austin, Texas 78701 Manchester, New Hampshire 03101 Madison, Wisconsin 53719 Voice: 334.887.3297 Bellingham, Washington 98225
Voice: 512.494.0369 Voice: 603.656.0336 Voice: 608.273.0182 Fax: 334.887.3298 Voice: 360.734.4525
Fax: 512.494.0205 Fax: 603.656.0301 Fax: 608.273.0312 Fax: 360.734.4588

7. GDS Associates, Inc.
Power Supply Planning Services
Securing adequate and reliable power resources is crucial to
thriving in a more competitive electrical market. As the short
and long-term power supply market has been rocked in
recent years with volatile prices and shortages, GDS has
helped guide its clients through uncharted territory by
developing sound power supply portfolios with a diverse
mixture of term lengths, technology, and fuel supply.
POWER SUPPLY
STRATEGIES/NEGOTIATIONS
GDS is known as an industry leader in
developing creative and flexible power
supply strategies. We've also been active
in helping shape the industry debate on
transmission access, market design, and
competition. By combining an in-depth
understanding of utility planning,
operations, and regulation with aggressive
negotiating techniques, we have been
able to help our public power and
industrial clients secure favorable power
supply arrangements with substantial
long-term power cost benefits.
RESOURCE PLANNING
Our staff provides expertise in all areas of
resource planning, including power plant
and purchased power feasibility analysis,
resource optimization, fuel supply and
transmission cost analysis, demand-side
management, load forecasting, and
production cost modeling.

8. RESOURCE SOLICITATION
GDS also offers expertise in the management of resource
solicitation projects and the evaluation of bulk power sales
proposals. From production and release of the solicitation,
to final contract negotiation, we have managed dozens of
national solicitations resulting in substantial long-term power
cost savings.
FORECASTING SERVICES
We use state-of-the-art forecasting tools and techniques to
assist clients with short and long-term power supply needs.
FINANCIAL ANALYSIS COMPETITIVE ANALYSES
GDS offers specialized expertise in GDS provides a wide range of services
utility financial consulting. We have to help clients evaluate the risks and
helped clients obtain financing for opportunities presented by increased
generation, transmission, and competition in the electric utility
distribution projects. We have helped industry, including:
clients make decisions on debt
Corporate Headquarters
structuring and repayment, and, in • Regional Power Market Modeling GDS Associates, Inc.
concert with financial and legal • Transmission Impact and 1850 Parkway Place
advisors, we've helped utility clients Suite 800
develop and issue tax-exempt and Wheeling Cost Analysis
Marietta, GA 30067
general obligation bonds. In providing • Wholesale Rate and Marginal Voice: 770.425.8100
these services, we have performed Cost Forecasts Fax: 770.426.0303
financial feasibility analyses and
• Fuel Price and Supply Analysis 919 Congress Avenue
evaluated capital market alternatives
for system expansion. • Competitor Benchmarking Studies Suite 800
Austin, TX 78701
• Power Market Risk/Due
Voice: 512.494.0369
Diligence Analysis Fax: 512.494.0205
• Merger, Acquisition, and
www.gdsassociates.com
Valuation Studies
These services allow clients to quantify
the risks of owning generation, losing
load to competitors, encountering
transmission constraints, and creating
stranded investment due to increasing
industry competition.

9. GDS Associates, Inc.
Generation Services
Greater competition has made effective control of power generation
costs increasingly important. Over a span of more than 15 years,
GDS has helped numerous power plant co-owners and non-utility
generators reduce costs and achieve improved performance by
identifying inefficiencies in power plant construction, operation and
maintenance practices, and providing practical solutions.
Our services include:
• Power Plant Project Development
• Plant Appraisals and Feasibility Studies
• Licensing, Construction, and Operational Analysis
• Construction and Operational Monitoring Programs
• Market Dispatch Analysis
• Operating Budget and Benchmarking Analysis
• Litigation Support and Expert Testimony
• Regulatory Support
• Distributed Generation Options

10. GDS offers comprehensive market analysis of available generating
technologies for electric utilities or other entities seeking to determine
which, if any, generating option best suits their needs. We additionally
provide design oversight and fuel procurement services in the early,
developmental stages of generating projects.
GDS also offers plant construction
and operational monitoring programs
to help clients achieve comprehensive Corporate Headquarters
GDS Associates, Inc.
1850 Parkway Place
management oversight and favorable Suite 800
Marietta, GA 30067
resolution of co-owned plant dispatch, Voice: 770.425.8100
Fax: 770.426.0303
fuel supply, and cost allocation issues. 919 Congress Avenue
Suite 800
Austin, TX 78701
We've gained national recognition for Voice: 512.494.0369
Fax: 512.494.0205
our success in providing expert
www.gdsassociates.com
testimony in court cases and regulatory
proceedings involving complex utility
system dispatch, power plant
construction, fuel procurement, and
operating issues.

11. GDS Associates, Inc.
Regulatory & Restructuring Services
GDS provides comprehensive regulatory and restructuring services to
generators, transmitters, distributors, and large users of energy.
Industry restructuring initiatives across the country have made a solid
regulatory strategy essential. Classical cost of service studies are
being replaced with studies of unbundled utility services. Rate and
rate design strategies are more complex than ever. GDS brings
decades of expert experience in all aspects of utility rate litigation,
contract negotiation, and transmission access.
"OPEN-ACCESS" TRANSMISSION ISSUES
Transmission access, pricing, and operation issues are currently at the
forefront of a more deregulated power market across the U.S. GDS has
been involved in transmission issues from the rulemaking beginnings
of FERC Order 888, through Order 2000 and its Standard Market
Design initiative and provides the following services to clients:
• Locational Marginal Pricing
• Transmission Evaluations, using load flow analysis
• Constraint Evaluations (FCITC)
• Flowgate Evaluations
• Load Pocket Determinations
• Import and Export Evaluation
• Power Marketing/Trading Support
• Production Costing
• Transmission Availability
• OASIS Monitoring
• Power Plant Development
• Siting Assistance – Transmission
• Transmission Integration Analysis
• Coordination of Interconnection Requests
• Asset Integration and Optimization using
generation dispatch modeling
• Transmission Service Contract Negotiations
• Ancillary Service/Loss Evaluations and Negotiations
• Power Supply Contract Negotiations
• Expert Testimony
• Transmission Access Tariffs
• Market Power Issues
• RTO Development
• NERC Reliability Council Monitoring
• Transmission and Generation Operations
• Control Area Certification
• Dynamic Scheduling Coordination
• Cost of Capital Analyses

12. WHOLESALE AND RETAIL RATE AND REGULATORY CONSULTING
Deregulation and uncertainty in power markets, along with large energy pricing
swings, are unrivaled in the utility industry and require flexibility in ratemaking and
regulatory strategies. GDS offers broad expertise in regulatory accounting, rate
design, economics, finance, and engineering. Our experts are widely regarded for
negotiating favorable agreements and for winning favorable rulings by providing
testimony addressing a wide range of regulatory issues, including:
• Industry Restructuring and Deregulation
• RTO and ISO Formation
• Power Plant and Transmission Line Certification
• Power Plant Management Prudence
• System Dispatch and Fuel Procurement Analysis
• Cost of Service and Rate Design
• Open Access Transmission Issues
• Expert Testimony
• Cost of Capital Analyses
TECHNICAL LITIGATION SERVICES
GDS provides a range of technical
litigation services covering all
aspects of case development,
including:
• Pre-Litigation Identification and Corporate Headquarters
GDS Associates, Inc.
Evaluation of Issues
1850 Parkway Place
• Discovery and Database Suite 800
Development Marietta, GA 30067
Voice: 770.425.8100
• Formulation of Technical and
Fax: 770.426.0303
Managerial Issues and
919 Congress Avenue
Preparation of Strategies
Suite 800
• Development of Questions for Austin, TX 78701
Depositions Voice: 512.494.0369
Fax: 512.494.0205
• Provision of Expert Testimony
and Quantification of Damages www.gdsassociates.com
Our experts have provided litigation
support and damage analyses in
several major lawsuits involving
complex, technical issues related to
utility management, construction,
operation, accounting, and tax
issues in state and federal courts
and regulatory proceedings.

13. GDS Associates, Inc.
Transmission Services
As the U.S. power grid has been opened up to allow
new market participants access to the regional
transmission system, both generators and load serving
entities face significant challenges in taking advantage
of these new opportunities. With fragmented transmission
systems, fractured energy markets and faltering
infrastructure, it takes a steady hand to guide
companies through the rubble of industry restructuring
and help them reach their goals. GDS Transmission
Services assist load-serving entities, transmission
providers, independent generating companies, and
state regulatory agencies with their “open access”
issues and has the planning, operations, regulatory, and
engineering experience necessary to assist its' clients in
navigating through these challenging times. In addition
to today's competitive issues, GDS also offers expertise
in the areas of transmission maintenance, equipment
procurement, and cost-of-service issues.
TRANSMISSION PLANNING TRANSMISSION OPERATIONS AND MAINTENANCE
The changing topology of the transmission Once transmission facilities have been put in place, the need
network can have significant commercial to maximize the life and utilization of the asset is an ongoing
impacts on loads and generators. GDS challenge. GDS has the hands-on experience to help clients
staff has assisted several clients in evaluating get the most from their capital investments in transmission
the prudence of system upgrades and the facilities.
impact of grid expansion on our clients'
business goals. • Application of Reliability Centered
Maintenance Principles
• Power Flow Analysis
• Development of Maintenance Specifications
• Short Circuit Analysis
and Work Plans
• Transfer Limit/AFC Studies
• Analysis of Maintenance Test Data
• New Interconnection Evaluation
• Development of Transmission Equipment
• Control Area Development
Specifications
• Participation in Regional Planning,
• Vendor Negotiation and Witness Testing
Markets, and Operations Groups
• Transmission Service Requests and
TARIFF DEVELOPMENT AND ADMINISTRATION
Applications
Development and implementation of the regulatory and
commercial implications of the changing world of Open
Access Transmission requires a firm with the ability to provide
advice and assistance to its clients to help them be prepared
for and manage the new environment. GDS staff has helped
multiple entities understand the requirements of FERC open
access policy and be able to establish and update practices
to handle the complexities of energy delivery.
• OATT Development and Modifications
• Evaluation of OASIS Business Practices
• OASIS Business Practice Development and Training

14. BILLING AND SETTLEMENTS
Once the regulatory dust has settled and clients are functioning
in the new environment, two questions remain - Did I get the
service I wanted and did I get charged appropriately for the
service I received? GDS works with its clients to ensure they
receive accurate billing and settlement information from their
transmission service providers and/or RTOs.
• Analysis of ISO/RTO Billing Data
• Billing Systems Development
• FTR/ARR Analysis and Valuation
• Tagging, Scheduling, and Market Interfaces/Settlements
RTO INVOLVEMENT LITIGATION SUPPORT AND EXPERT
As RTOs continue to develop and TESTIMONY
grow, the transmission landscape is Any time there is upheaval in markets
being reshaped almost continuously. and new structures are being developed
It is critical that clients be involved in disagreements between parties inevitably
and understand the implications of arise. Sometimes these instances require
the policy and process development resolution before local, state, or federal
regulatory bodies. When those situations Corporate Headquarters
activities, and attempt to develop
GDS Associates, Inc.
rules that meet clients' business require testimony or litigation, GDS is
1850 Parkway Place
needs. GDS provides representation there to assist its clients by developing
Suite 800
and analysis of various RTO expert testimony and support in areas Marietta, GA 30067
development activities for our clients dealing with the Transmission System. Voice: 770.425.8100
in multiple jurisdictions. Fax: 770.426.0303
• Transmission Market Power Analysis
• New Market Implementation • Transmission Cost-of-Service Issues 919 Congress Avenue
Suite 800
• New Entrant Participation
Austin, TX 78701
• Regional Working Group Voice: 512.494.0369
Representation Fax: 512.494.0205
• Protocol Development www.gdsassociates.com
• RTO Seams Issues

15. GDS Associates, Inc.
Risk Management Services
THE BUSINESS ENVIRONMENT
Energy markets are inherently risky, and
recent years have proven just how risky
they can be. Billions of capital dollars
have been lost, market liquidity is
evaporating, credit and transaction costs
are skyrocketing, and volatility and high
prices in the market continue. The energy
business is in a state of continuous flux
with no market or regulatory certainty in
sight. Buyers, sellers, and others in the
energy business need to understand the
risks in this uncertain environment in order
to maintain their responsibility to their
stakeholders and to protect their bottom line.
THE NEEDED RESPONSE THE APPROACH
Organizations can achieve their goals and GDS understands that risk management is more
objectives in this volatile and uncertain than energy price management, more than
business environment by developing and regulatory compliance, and that each client faces
implementing an effective comprehensive a unique set of challenges and risks. To fully
risk management program. This program understand and mitigate the risks that can affect
involves identifying, evaluating, and your business and your cost structure, your
mitigating the risks that threaten the leadership team must have a complete view of
strategic and financial goals across your these exposures. Our approach incorporates
business. We can design a risk management quantitative and qualitative techniques to capture,
program that will assist your leadership assess, measure, evaluate, and mitigate the risks
team with this challenge. that can impact a business's strategic and
financial objectives and options, along with its
operations, and ultimately the bottom line.

16. MORE ABOUT OUR APPROACH
• Develop forecasted multi-year financial models
(Cash Flow, Income, and Balance Sheet) Power Cost
($/MWh)
• Identify and quantify risks in all business segments that can
$25.0 $30.0 $35.0 $40.0 $45.0
impact these models
Gas Price
$3.67 $7.74
($/MMBtu)
• Perform a probability analysis of these risks using Monte
Coal Price
Carlo simulation techniques ($/MMBtu)
$1.16 $1.69
• Conduct a Cash-Flow-at-Risk (CFaR) analysis to determine Hydro Availability
(%)
49% 14%
financial impact
CT Capital Cost
$ 408 $ 536
($/kW)
• Utilize a risk matrix as a tool for developing a risk mitigation
work plan Interest Rate (%) 4.6% 7.2%
• Repeat the process based upon the risks and needs of the
business
OUR RISK MANAGEMENT PRODUCT EXPERIENCE AND CAPABILITIES
OFFERINGS • We have extensive capabilities to
• Risk Assessment - Risk identification provide a comprehensive approach to
and measurement, including risk management
probability analysis of the forecasted • We have the risk intelligence expertise
multi-year financial statements needed to identify the exposures that
Corporate Headquarters
• Risk Matrix - Proactive management can impact all segments of your
GDS Associates, Inc.
plan used to mitigate each risk business 1850 Parkway Place
• Risk Policies/Procedures - Custom • We have a proven track record of Suite 800
tailored guidelines and directives to assisting leadership teams in meeting Marietta, GA 30067
insure program compliance the challenges of maneuvering Voice: 770.425.8100
Fax: 770.426.0303
• Virtual Chief Risk Officer (CRO) - successfully through the energy industry
Ongoing active advisory services 919 Congress Avenue
that incorporate all of the above Suite 800
Austin, TX 78701
Voice: 512.494.0369
Fax: 512.494.0205
www.gdsassociates.com
GDS Associates, Inc. is a multi-service consulting and engineering firm. Our consultants are
recognized leaders in their respective fields, dedicated to their clients, innovative in their
approach to meeting unique challenges, and known for consistently being available when
needed. Our broad range of expertise focuses on clients associated with, or affected by, electric,
gas, water and wastewater utilities. In addition, we offer information technology, market research,
and statistical services to a diverse client base.