This document is a comprehensive report on a company's activities throughout the preceding year.

CEO-Zero-is-real-Leadership-Awards-Booket.pdf

With four congenerating plants in Alberta, TransCanada manages, operates and markets close to 450 megawatts (MW) of electricity. Alberta Power Marketing offers wholesale power for a range of industries, including agriculture, oil and gas, commercial real estate, large scale commercial and industrial, public institutions and brokers and consultants.

The document listed below in this Section and filed as Exhibit 99.1 to this Form 6-K is hereby filed with the Securities and Exchange Commission for the purpose of being and hereby is incorporated by reference into Registration Statement on Form F-9 (Reg. No. 333-121265) under the Securities Act of 1933, as amended.

This MD&A covers TCPL’s financial position and operations as at and for the year ended December 31, 2011.