Spreadsheet: benjamin_rogers__1044__Peaker Valuation 060500
Sheet: Summary

GENCO SUMMARY
Valuation Date: | Week of | 2000-06-05 00:00:00
ASSET SUMMARY: |  |  |  |  |  |  |  |  | VALUATION:
 |  |  |  |  |  |  |  |  |  | 2000 | 2001 | 2002
1999 Assets |  |  | 2000 Assets |  |  |  |  |  | GenCo EBITDA (000 $)
Total Cost (000$) |  |  | Current Estimates of Total Cost (000$)
 |  |  |  |  |  |  |  |  |  | Brownsville | Caledonia | New Albany | [NAME] | Wheatland | [NAME] | GenCo
Current Book Value as of 29-Mar-00 (000$) |  |  | Dollar Spent on the 2000 Assets as of 28-Apr-00 (000$) |  |  |  |  |  | Enterprise Value (without Salvage Value)
 |  |  |  |  |  |  |  |  | Enterprise Value (with Salvage Value)
1999 & 2000 Assets Total Cost:
 |  |  |  |  |  |  |  |  | 2000 Capacity Prices ($/kW-mo)
 |  |  |  |  |  |  |  |  | 2001 Capacity Prices ($/kW-mo) | 8.676797360184217 | 8.31229045477807 | 8.01724952257666 | 9.05780481678705 | 8.464564753441534 | 8.283965037907377 | 8.48012173939266
 |  |  |  |  |  |  |  |  | 2002 Capacity Prices ($/kW-mo) | 6.347808266538791 | 6.067680918670659 | 5.850373131440269 | 6.670828008326446 | 6.119922038144433 | 6.003515716967106 | 6.183580715809347
FINANCING ASSUMPTIONS:
 | Debt |  | Equity |  | Total
Capitalization Ratio | 0.5
Amount ('000 $)
Cost of Funds
10-yr Treasury Rate (%) | 0.0615 | (Dated: 2-Jun-00)
Spread (%) |  | (Dated: 2-Jun-00)
All In Coupon Rate (%) |  |  | 0.2 |  |  | ([NAME])
GenCo Book Value at the end of Year 3 (000$)
Salvage Value at year 3 ($/kW)
Rates
Valuation Date |  | 2000-05-29 00:00:00 | 2000-05-22 00:00:00 | 2000-05-15 00:00:00 | 2000-05-08 00:00:00 | 2000-05-01 00:00:00 | 2000-04-24 00:00:00 | 2000-04-17 00:00:00
Treasury (%) |  | 0.0633 | 0.0651 | 0.065 | 0.0652 | 0.0622 | 0.0598 | 0.0587
Spreads (%) |  | 0.03015433333333334 | 0.02783933333333334 | 0.02644333333333334 | 0.02587333333333333 | 0.02739666666666667 | 0.0322 | 0.0324
All-in Rate (%) |  | 0.09345433333333333 | 0.09293933333333335 | 0.09144333333333333 | 0.09107333333333333 | 0.08959666666666666 | 0.092 | 0.0911
Enterprise Values (with Salvage)
Valuation Date |  | 2000-05-29 00:00:00 | 2000-05-22 00:00:00 | 2000-05-15 00:00:00 | 2000-05-08 00:00:00 | 2000-05-01 00:00:00 | 2000-04-24 00:00:00 | 2000-04-17 00:00:00
[NAME] |  | 243613.0689595694 | 235379.9578634875 | 222284.6671366818 | 217247.1225252696 | 213822.0790947673 | 215319.3314431804 | 213935.0063588939
[NAME] |  | 204375.368007439 | 193727.5103151566 | 185886.0014188931 | 180460.876373819 | 177406.9220602943 | 179089.63823087 | 177569.5557497604
Brownsville |  | 201606.0947591427 | 189524.1624953417 | 181011.7955209148 | 175266.8378175432 | 172032.9454476191 | 174377.915537505 | 172632.8260008596
Caledonia |  | 200803.1747033794 | 187998.6602207334 | 179521.9024041457 | 172423.0864648711 | 169764.8272071096 | 171872.6871235795 | 170181.3682436593
Wheatland |  | 196380.6594136147 | 186630.9412652817 | 175928.485104726 | 171980.4543827021 | 168718.7649400349 | 169921.9409295647 | 168753.2130519465
New Albany |  | 155354.1260733313 | 145308.9664861259 | 139184.7812203487 | 133943.7202816911 | 132084.6626219407 | 133447.3004341213 | 132085.078316234
Enterprise Values (with Salvage)
Valuation Date |  | 2000-05-29 00:00:00 | 2000-05-22 00:00:00 | 2000-05-15 00:00:00 | 2000-05-08 00:00:00 | 2000-05-01 00:00:00 | 2000-04-24 00:00:00 | 2000-04-17 00:00:00
GenCo |  | 1202132.491916476 | 1138570.198646127 | 1083817.63280571 | 1051322.097845896 | 1033830.201371766 | 1044028.813698821 | 1035157.047721354
Capacity Prices | 2000 | 2001 | 2002
Wheatland
[NAME]
[NAME]
Brownsville
Caledonia
New Albany
GenCo
 | Valuation
 | Required Changes for Weekly/Monthly Valuation
 | Weekly Changes
1 | Desk (Source: [NAME])
2 | 10-yr Treasury
3 | Spreads
4 | USD Libor Forward Curve (Source: http://home.ect.enron.com/dept/irfx/curves/)
 | Monthly Changes
1 | Accounting Numbers
2 | Depreciation Value