OUR PLATFORMS AND PERFORMANCE DRIVERS Power (1) Includes Erie Shores and the operating wind power facilities acquired from ReD on October 1, 2013. (2) Amherstburg commenced operations in June 2011. Capstone’s utilities platform currently includes interests in a regulated water utility and a district heating business. We hold a 50% equity interest in Bristol Water, a regulated business in the United Kingdom that earns a return on its regulated capital value (“RCV”),  or asset base. Bristol Water is the sole water supplier in the Bristol region, serving a population of more than 1.1 million people.  Bristol Water is currently executing a significant capital program aimed at maintaining and improving Bristol Water’s infrastructure and operations while continuing to meet water quality requirements and support growth arising from an increasing population and expanded business activity in the region. This program will drive growth in Bristol Water’s RCV, which over time will increase the cash flow we receive from this investment and its overall value for Capstone’s shareholders. The key performance drivers for Bristol Water in 2014 are to: In addition, a key focus for 2014 is working with Bristol Water's management to bring the Price Review 14 (“PR14”) process to a satisfactory  regulatory conclusion. The PR14 outcome will establish the company’s business plan for the next five-year regulatory period (“AMP6”). 2013 ANNUAL REPORT  13 • Provide safe, reliable drinking water that is cost-effective for customers. • Operate in compliance with all regulatory and environmental requirements. See Figure 3. •  Operate efficiently to manage costs. • Execute the company’s approximately $520 million regulator-approved capital expenditure program for the current regulatory period,  resulting in RCV growth. • Achieve consistently high availability to help maximize  production. See Figure 2. • Maintain or improve the quality of each facility by focusing on routine and preventive maintenance and implementing technological and operational enhancements. See Figure 3. • Efficiently manage operating costs at each facility. •  Complete the Skyway 8 and Saint-Philémon wind power  development projects on time and on budget and advance the balance of the project pipeline. •  Operate facilities safely with a goal of zero lost-time injuries. Our power platform includes gas cogeneration, wind, hydro, biomass  and solar power generation facilities in Canada, totalling approximately 439 net megawatts of installed capacity. We are also  developing a pipeline of wind power projects totalling an expected 79 net megawatts of capacity. The operating facilities and development projects have power purchase agreements with  creditworthy customers. See Figure 1. The key performance drivers for the power platform in 2014 are to: Utilities Water Figure 3: Enhancing Cash Flow at Erie Shores Figure 2: Consistently High Availability Figure 1: Counterparty Credit Ratings Facility 2013 Five-Year Average Cardinal 98.2% 96.9% Wind power facilities (1) 97.2% 97.2% Hydro power facilities 99.1% 98.5% Whitecourt 96.1% 92.9% Amherstburg (2) 99.6% n/a Counterparty Credit Rating Ontario Electricity Financial Corporation ("OEFC") AA (low)/Stable – DBRS Ontario Power Authority ("OPA") A (high)/Stable – DBRS Nova Scotia Power Incorporated ("NSPI") A (low)/Stable - DBRS TransAlta BBB/Stable – DBRS BC Hydro AA (high)/Stable – DBRS In 2013, Erie Shores installed WindBOOST, a turbine control system that helps to increase annual energy output, thereby increasing revenue. 