Spreadsheet: benjamin_rogers__1179__BasePowerModel3
Sheet: Assumptions

Unhide Sub Debt, 1999 Columns
PROJECT NAME:
ASSUMPTIONS & SUMMARY OUTPUT
SOURCES & USES: |  |  |  |  |  | PROJECT DESCRIPTION: |  |  |  |  | DEPRECIATION ASSUMPTIONS:
Sources of Funds |  | % | 000 $ | 000 $/kW |  | Type of Turbine |  | LM6000 |  |  |  | Initial Basis (000 $) | Year | Method | Residual (%)
Total Equity |  |  | 25000 |  |  | Number of Turbines |  | 4 |  |  | Federal & State Tax Depreciation
Debt Issuance |  |  |  |  |  | Turbine Rating |  | 46 |  |  | EPC Costs |  | 15 | MACRS | 0
 |  |  |  |  |  | Heat Rate (HHV) |  | 9332 |  |  | Transaction Costs |  | 20 | SL | 0
Total Sources |  |  |  |  |  | Annual Operating Hours |  | 1200
 |  |  |  |  |  | Percentage of Peak Run Time |  | 1 |  |  | Book Depreciation
 |  |  |  |  |  | First Fiscal Year |  | 2002-12-31 00:00:00 |  |  | EPC Costs |  | 30 | SL | 0.1
Uses of Funds |  |  |  |  |  | Operating Months in the 1st yr.* |  | 6 |  |  | Transaction Costs |  | 20 | SL | 0
 |  |  |  |  |  | Start of Commercial Operation |  | 2002-05-01 00:00:00
EPC: |  |  |  |  |  | End of Commercial Operation |  | 2002-06-01 00:00:00
Turbine |  |  | 56048 |  |  | Project Life (Years) |  | 20 |  |  | TAX ASSUMPTIONS:
BOP |  |  | 30189 |  |  | Residual Value
Pipeline |  |  | 5400 |  |  |  |  |  |  |  | Federal Income Tax Rate |  | 0.35
Power Interconnection |  |  | 1135 |  |  |  |  |  |  |  | State Income Tax Rate |  | 0.06
SCR |  |  | 0 |  |  | TECHNICAL ASSUMPTIONS: |  |  |  |  | Franchise Tax Rate |  | 0.0025
Dual Fuel |  |  | 0 |  |  |  |  |  |  |  | [NAME] |  | 0.03
Black Start |  |  | 1000 |  |  | Net Project Capacity (MW) |  |  |  |  | Annual Property Tax Rate |  | 0.01
Gas Compression to 700 PSI |  |  | 615 |  |  | Initial Spare Parts (000$) |  | 1320 |  |  | Assessd Value Based on SL Depreciation - yrs
Demineralized Water Facility |  |  | 0 |  |  | Number of Starts per year |  | 120 |  |  | Salvage Value
Chillers |  |  | 4061 |  |  | Cost per Start |  | 0 |  |  | Assessd Value Multiplier
Spare Parts |  |  | 1320 |  |  | Evaporative Cooler (MW) |  | 12 |  |  | Milage Rate for School Tax
Sub Total |  |  |  |  |  |  |  |  |  |  | Years of School Tax Abatement
 |  |  |  |  |  |  |  |  |  |  | Milage rate for County Tax
Financing Costs: |  |  |  |  |  | PPA ASSUMPTIONS: |  |  |  |  | Years of County Tax Abatement
Legal Fees |  |  | 0 |  |  |  |  |  |  |  | Milage rate for City Tax
Financing Fee |  |  | 1000 |  |  | PPA Start Date |  | 2001-05-01 00:00:00 |  |  | Years of City Tax Abatement
Debt Reserves |  |  | 0 |  |  | PPA Temination |  | 2021-06-01 00:00:00
Sub Total
 |  |  |  |  |  | Fixed Price Period
Capitalized Interests |  |  | 855 |  |  | No. of Years |  | 3
Land |  |  | 461.44 |  |  | Contractual  Capacity (MW)
Contingency |  |  | 0 |  |  | Demand Charge ($/kW-mo) |  | 5
 |  |  |  |  |  | Energy Charge ($/MWh)
Total Uses |  |  |  |  |  | Block Charge ($/start/turbine) |  | 0
 |  |  |  |  |  | Degradation Factor (%) |  | 0.02
 |  |  |  |  |  | Degraded Capacity (MW)
FINANCING ASSUMPTIONS: |  |  |  |  |  | Net Generation (MW)
Debt Issued | 2000-08-01 00:00:00
 |  |  |  |  |  | Market Price Period
DEBT | Tranche 1 | Tranche 2 | Tranche 3 | Total |  | No. of Years
Summary |  |  |  |  |  | Contractual Capacity |  | 497.4
Amount ('000 $) | 15000 | 25000 | 40000 |  |  | Energy Charge ($/MWh)
Term (yrs) | 4 | 10 | 20 |  |  | Block Charge ($/start/turbine)
Final Maturity | 2003-07-31 00:00:00 | 2010-07-31 00:00:00 | 2020-07-31 00:00:00 |  |  | Capacity Factor (%) |  | 0.02
Average Life (yrs) |  |  |  |  |  | Degradation Factor (%) |  | 0.02
 |  |  |  |  |  | Degraded Capacity (MW)
 |  |  |  |  |  | Net Generation (MW)
Treasury Rate (%) | 0.04 | 0.04 | 0.04 |  |  | Market Period Energy Margin ($/MWh) |  | 1
Spread (%) | 0.04 | 0.04 | 0.04
All In Coupon Rate (%) |  |  |  |  |  | Annual Escalator |  | 0.03
Maximum DSR Amount (12mths) (000 $)
Maximum DSR Amount (12mths) (kW/mo.) | 0 |  |  |  |  | OPERATING COSTS ASSUMPTIONS:
Debt Service Reserve [NAME] | 0.02 |  |  |  |  |  |  |  | $/MW
Interest Income Rate | 0.05 |  |  |  |  | CPI Escalator |  | 0.03
EQUITY |  |  |  |  |  | Escalated Costs:
Equity Closed | 2002-05-01 00:00:00
Equity Partner's Share | 0.5 |  |  |  |  | Fixed O&M
Enron's Share |  |  |  |  |  | Variable O&M
 |  |  |  |  |  | Fixed Price Period |  |  | 1.408748180494906
SUMMARY OUTPUT: |  |  |  |  |  | Market Price Period |  |  | 1.408748180494906
 |  |  |  |  |  | Major Maintenance & Ongoing Capex |  | 1349.28
DSCR |  | [NAME]. | Min |  |  | Insurance
 |  |  |  |  |  | SG&A
 |  |  |  |  |  | Utilities, Start Power
Cost Summary |  | 000$/ MW |  |  |  | Marketing Fee |  |  | 0.07
EPC |  |  |  |  |  | Admin Fees |  | 152.9411764705883
Soft Cost & Other Misc Project Cost |  |  |  |  |  | O&M Fees |  | 200
Operating Expenses
Total |  |  |  |  |  | Non-Escalated Costs:
 |  |  |  |  |  | Fuel
 |  |  |  |  |  | Property Taxes & Other |  | 844.7869757903093
Equity Returns |  |  |  |  |  | Debt Service Reserve Fee
20 Yrs After-Tax Cashflow & w/o Residual Value
20 Yrs After-Tax Cashflow & w Residual Value
Key Stats | 2000 | 2001 | 2002 | 2003
EBITDA (000 $)
Net Income (000 $)
Pre-Tax Cashflow (000 $)
After-Tax Cashflow (000 $)