Spreadsheet: richard_sanders__31746__Tick Analysis @ 14-Nov-00
Sheet: Damage Calculations

[NAME]
Damage Sensitivities
(Dollars in Thousands)
THIS INFORMATION IS CONFIDENTIAL PER SECTION 5 OF THE FACILITATION AGREEMENT
Base Case Variables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Sensitivity to Plant Capacity
Plant Capacity (PC) |  |  |  | kW
Discount Rate
Question 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | @ 12/31/96 |  |  |  |  |  | @ 12/31/00
Include Interest Rate Adjustment? | No | What equity value is implied under Sectoin 11.02(I)(a), both at |  |  |  |  |  |  |  |  |  |  |  |  |  | Question 1 |  | PC (kW) = | 240000 | 245000 | 258000 | 263000 |  | PC (kW) = | 240000 | 245000 | 258000 | 263000
Include Apache Savings? | No | inception and point forward? |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 546017.8708206079 | 574990.2476396611 | 586133.4694931428 |  |  |  | 510885.3084132639 | 537993.5084515185 | 548419.7392354626
Question 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | @ 12/31/00
Include Interest Rate Adjustment? | Yes | Status quo, what level of damages is implied under Section |  |  |  |  |  |  |  |  |  |  |  |  |  | Question 2 |  |  |  |  |  |  |  | PC (kW) = | 240000 | 245000 | 258000 | 263000
Include Apache Savings? | Yes | 11.02(i)(a)? |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 518581.4721281896 | 546098.0400370322 | 556681.3353865871
Question 3 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | @ 12/31/00
Include Interest Rate Modification? | Yes | How would the answer to Question 2 change if the interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  | Question 3 |  |  |  |  |  |  |  | PC (kW) = | 240000 | 245000 | 258000 | 263000
Include Apache Savings? | Yes | adjustment to Capacity Payments was modified? |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 511495.561045498 | 537566.1647311079 | 547593.3199948042
Question 4 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | @ 12/31/00
Include Interest Rate Adjustment? | No | How would the answer to Question 2 change is there were no |  |  |  |  |  |  |  |  |  |  |  |  |  | Question 4 |  |  |  |  |  |  |  | PC (kW) = | 240000 | 245000 | 258000 | 263000
Include Apache Savings? | Yes | interest rate adjustment to Capacity Payments? |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 491330.6079211179 | 517401.2116067277 | 527428.3668704242
 |  |  |  |  |  | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019
Question 1 - At Inception
Contract Capacity Rates |  |  |  |  | $/kW-mo. | 13.6 | 14.04 | 14.57 | 15.09 | 15.65 | 16.21 | 16.87 | 17.54 | 18.18 | 18.88 | 17.58 | 18.13 | 18.87 | 19.52 | 20.22 | 20.99 | 21.56 | 21.71 | 22.02 | 22.18 | 23.13 | 23.58 | 24.07
Interest Rate Adjustment |  |  | (1=Included, 0=Excluded) |  | $/kW-mo.
Apache Savings |  |  | (1=Included, 0=Excluded) |  | $/kW-mo.
O & M Adjustment |  |  |  |  | $/kW-mo. | -1.96 | -2.12 | -3.94 | -2.24 | -3.42 | -5.95 | -2.65 | -2.74 | -5.33 | -4.45 | -3.19 | -10.45 | -3.53 | -3.75 | -6.74 | -4.08 | -4.32 | -9.21 | -4.73 | -4.99 | -10.49 | -5.5 | -8.87
Adjusted Capacity Rate |  |  |  |  | $/kW-mo.
Months in the Year |  |  |  |  |  | 12
Plant Capacity |  |  |  |  | kW
Yearly Capacity Payments
Monthly Capacity Payments
Question 2 - Status Quo
Contract Capacity Rates |  |  |  |  | $/kW-mo.
Interest Rate Adjustment |  |  | (1=Included, 0=Excluded) |  | $/kW-mo.
Apache Savings |  |  | (1=Included, 0=Excluded) |  | $/kW-mo.
O & M Adjustment |  |  |  |  | $/kW-mo.
Adjusted Capacity Rate |  |  |  |  | $/kW-mo.
Months in the Year
Plant Capacity |  |  |  |  | kW
Yearly Capacity Payments
Monthly Capacity Payments
Question 3 - Modified Interest Rate Adjustment
Contract Capacity Rates |  |  |  |  | $/kW-mo.
Interest Rate Adjustment |  |  | (1=Modified, 0=Not Modified) |  | $/kW-mo.
Apache Savings |  |  | (1=Included, 0=Excluded) |  | $/kW-mo.
O & M Adjustment |  |  |  |  | $/kW-mo.
Adjusted Capacity Rate |  |  |  |  | $/kW-mo.
Months in the Year
Plant Capacity |  |  |  |  | kW
Yearly Capacity Payments
Monthly Capacity Payments
Question 4 - No Interest Rate Adjustment
Contract Capacity Rates |  |  |  |  | $/kW-mo. | 13.6 | 14.04 | 14.57 | 15.09 | 15.65 | 16.21 | 16.87 | 17.54 | 18.18 | 18.88 | 17.58 | 18.13 | 18.87 | 19.52 | 20.22 | 20.99 | 21.56 | 21.71 | 22.02 | 22.18 | 23.13 | 23.58 | 24.07
Interest Rate Adjustment |  |  | (1=Included, 0=Excluded) |  | $/kW-mo.
Apache Savings |  |  | (1=Included, 0=Excluded) |  | $/kW-mo.
O & M Adjustment |  |  |  |  | $/kW-mo.
Adjusted Capacity Rate |  |  |  |  | $/kW-mo.
Months in the Year
Plant Capacity |  |  |  |  | kW
Yearly Capacity Payments
Monthly Capacity Payments
Apache Savings Variables |  |  |  |  | $/kW-mo. | 0 | 0 | 0 | -1.08 | -1.13 | -1.19 | -1.25 | -1.31 | -1.38 | -1.45 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
XNPV Variables: | Date | Question 1 | Question 2 | Question 3 | Question 4
 | 1997-01-31 00:00:00
 | 1997-02-28 00:00:00
 | 1997-03-31 00:00:00
 | 1997-04-30 00:00:00
 | 1997-05-31 00:00:00
 | 1997-06-30 00:00:00
 | 1997-07-31 00:00:00
 | 1997-08-31 00:00:00
 | 1997-09-30 00:00:00
 | 1997-10-31 00:00:00
 | 1997-11-30 00:00:00
 | 1997-12-31 00:00:00
 | 1998-01-31 00:00:00
 | 1998-02-28 00:00:00
 | 1998-03-31 00:00:00
 | 1998-04-30 00:00:00
 | 1998-05-31 00:00:00
 | 1998-06-30 00:00:00
 | 1998-07-31 00:00:00
 | 1998-08-31 00:00:00
 | 1998-09-30 00:00:00
 | 1998-10-31 00:00:00
 | 1998-11-30 00:00:00
 | 1998-12-31 00:00:00
 | 1999-01-31 00:00:00
 | 1999-02-28 00:00:00
 | 1999-03-31 00:00:00
 | 1999-04-30 00:00:00
 | 1999-05-31 00:00:00
 | 1999-06-30 00:00:00
 | 1999-07-31 00:00:00
 | 1999-08-31 00:00:00
 | 1999-09-30 00:00:00
 | 1999-10-31 00:00:00
 | 1999-11-30 00:00:00
 | 1999-12-31 00:00:00
 | 2000-01-31 00:00:00
 | 2000-02-29 00:00:00
 | 2000-03-31 00:00:00
 | 2000-04-30 00:00:00
 | 2000-05-31 00:00:00
 | 2000-06-30 00:00:00
 | 2000-07-31 00:00:00
 | 2000-08-31 00:00:00
 | 2000-09-30 00:00:00
 | 2000-10-31 00:00:00
 | 2000-11-30 00:00:00
 | 2000-12-31 00:00:00
 | 2001-01-31 00:00:00
 | 2001-02-28 00:00:00
 | 2001-03-31 00:00:00
 | 2001-04-30 00:00:00
 | 2001-05-31 00:00:00
 | 2001-06-30 00:00:00
 | 2001-07-31 00:00:00
 | 2001-08-31 00:00:00
 | 2001-09-30 00:00:00
 | 2001-10-31 00:00:00
 | 2001-11-30 00:00:00
 | 2001-12-31 00:00:00
 | 2002-01-31 00:00:00
 | 2002-02-28 00:00:00
 | 2002-03-31 00:00:00
 | 2002-04-30 00:00:00
 | 2002-05-31 00:00:00
 | 2002-06-30 00:00:00
 | 2002-07-31 00:00:00
 | 2002-08-31 00:00:00
 | 2002-09-30 00:00:00
 | 2002-10-31 00:00:00
 | 2002-11-30 00:00:00
 | 2002-12-31 00:00:00
 | 2003-01-31 00:00:00
 | 2003-02-28 00:00:00
 | 2003-03-31 00:00:00
 | 2003-04-30 00:00:00
 | 2003-05-31 00:00:00
 | 2003-06-30 00:00:00
 | 2003-07-31 00:00:00
 | 2003-08-31 00:00:00
 | 2003-09-30 00:00:00
 | 2003-10-31 00:00:00
 | 2003-11-30 00:00:00
 | 2003-12-31 00:00:00
 | 2004-01-31 00:00:00
 | 2004-02-29 00:00:00
 | 2004-03-31 00:00:00
 | 2004-04-30 00:00:00
 | 2004-05-31 00:00:00
 | 2004-06-30 00:00:00
 | 2004-07-31 00:00:00
 | 2004-08-31 00:00:00
 | 2004-09-30 00:00:00
 | 2004-10-31 00:00:00
 | 2004-11-30 00:00:00
 | 2004-12-31 00:00:00
 | 2005-01-31 00:00:00
 | 2005-02-28 00:00:00
 | 2005-03-31 00:00:00
 | 2005-04-30 00:00:00
 | 2005-05-31 00:00:00
 | 2005-06-30 00:00:00
 | 2005-07-31 00:00:00
 | 2005-08-31 00:00:00
 | 2005-09-30 00:00:00
 | 2005-10-31 00:00:00
 | 2005-11-30 00:00:00
 | 2005-12-31 00:00:00
 | 2006-01-31 00:00:00
 | 2006-02-28 00:00:00
 | 2006-03-31 00:00:00
 | 2006-04-30 00:00:00
 | 2006-05-31 00:00:00
 | 2006-06-30 00:00:00
 | 2006-07-31 00:00:00
 | 2006-08-31 00:00:00
 | 2006-09-30 00:00:00
 | 2006-10-31 00:00:00
 | 2006-11-30 00:00:00
 | 2006-12-31 00:00:00
 | 2007-01-31 00:00:00
 | 2007-02-28 00:00:00
 | 2007-03-31 00:00:00
 | 2007-04-30 00:00:00
 | 2007-05-31 00:00:00
 | 2007-06-30 00:00:00
 | 2007-07-31 00:00:00
 | 2007-08-31 00:00:00
 | 2007-09-30 00:00:00
 | 2007-10-31 00:00:00
 | 2007-11-30 00:00:00
 | 2007-12-31 00:00:00
 | 2008-01-31 00:00:00
 | 2008-02-29 00:00:00
 | 2008-03-31 00:00:00
 | 2008-04-30 00:00:00
 | 2008-05-31 00:00:00
 | 2008-06-30 00:00:00
 | 2008-07-31 00:00:00
 | 2008-08-31 00:00:00
 | 2008-09-30 00:00:00
 | 2008-10-31 00:00:00
 | 2008-11-30 00:00:00
 | 2008-12-31 00:00:00
 | 2009-01-31 00:00:00
 | 2009-02-28 00:00:00
 | 2009-03-31 00:00:00
 | 2009-04-30 00:00:00
 | 2009-05-31 00:00:00
 | 2009-06-30 00:00:00
 | 2009-07-31 00:00:00
 | 2009-08-31 00:00:00
 | 2009-09-30 00:00:00
 | 2009-10-31 00:00:00
 | 2009-11-30 00:00:00
 | 2009-12-31 00:00:00
 | 2010-01-31 00:00:00
 | 2010-02-28 00:00:00
 | 2010-03-31 00:00:00
 | 2010-04-30 00:00:00
 | 2010-05-31 00:00:00
 | 2010-06-30 00:00:00
 | 2010-07-31 00:00:00
 | 2010-08-31 00:00:00
 | 2010-09-30 00:00:00
 | 2010-10-31 00:00:00
 | 2010-11-30 00:00:00
 | 2010-12-31 00:00:00
 | 2011-01-31 00:00:00
 | 2011-02-28 00:00:00
 | 2011-03-31 00:00:00
 | 2011-04-30 00:00:00
 | 2011-05-31 00:00:00
 | 2011-06-30 00:00:00
 | 2011-07-31 00:00:00
 | 2011-08-31 00:00:00
 | 2011-09-30 00:00:00
 | 2011-10-31 00:00:00
 | 2011-11-30 00:00:00
 | 2011-12-31 00:00:00
 | 2012-01-31 00:00:00
 | 2012-02-29 00:00:00
 | 2012-03-31 00:00:00
 | 2012-04-30 00:00:00
 | 2012-05-31 00:00:00
 | 2012-06-30 00:00:00
 | 2012-07-31 00:00:00
 | 2012-08-31 00:00:00
 | 2012-09-30 00:00:00
 | 2012-10-31 00:00:00
 | 2012-11-30 00:00:00
 | 2012-12-31 00:00:00
 | 2013-01-31 00:00:00
 | 2013-02-28 00:00:00
 | 2013-03-31 00:00:00
 | 2013-04-30 00:00:00
 | 2013-05-31 00:00:00
 | 2013-06-30 00:00:00
 | 2013-07-31 00:00:00
 | 2013-08-31 00:00:00
 | 2013-09-30 00:00:00
 | 2013-10-31 00:00:00
 | 2013-11-30 00:00:00
 | 2013-12-31 00:00:00
 | 2014-01-31 00:00:00
 | 2014-02-28 00:00:00
 | 2014-03-31 00:00:00
 | 2014-04-30 00:00:00
 | 2014-05-31 00:00:00
 | 2014-06-30 00:00:00
 | 2014-07-31 00:00:00
 | 2014-08-31 00:00:00
 | 2014-09-30 00:00:00
 | 2014-10-31 00:00:00
 | 2014-11-30 00:00:00
 | 2014-12-31 00:00:00
 | 2015-01-31 00:00:00
 | 2015-02-28 00:00:00
 | 2015-03-31 00:00:00
 | 2015-04-30 00:00:00
 | 2015-05-31 00:00:00
 | 2015-06-30 00:00:00
 | 2015-07-31 00:00:00
 | 2015-08-31 00:00:00
 | 2015-09-30 00:00:00
 | 2015-10-31 00:00:00
 | 2015-11-30 00:00:00
 | 2015-12-31 00:00:00
 | 2016-01-31 00:00:00
 | 2016-02-29 00:00:00
 | 2016-03-31 00:00:00
 | 2016-04-30 00:00:00
 | 2016-05-31 00:00:00
 | 2016-06-30 00:00:00
 | 2016-07-31 00:00:00
 | 2016-08-31 00:00:00
 | 2016-09-30 00:00:00
 | 2016-10-31 00:00:00
 | 2016-11-30 00:00:00
 | 2016-12-31 00:00:00
 | 2017-01-31 00:00:00
 | 2017-02-28 00:00:00
 | 2017-03-31 00:00:00
 | 2017-04-30 00:00:00
 | 2017-05-31 00:00:00
 | 2017-06-30 00:00:00
 | 2017-07-31 00:00:00
 | 2017-08-31 00:00:00
 | 2017-09-30 00:00:00
 | 2017-10-31 00:00:00
 | 2017-11-30 00:00:00
 | 2017-12-31 00:00:00
 | 2018-01-31 00:00:00
 | 2018-02-28 00:00:00
 | 2018-03-31 00:00:00
 | 2018-04-30 00:00:00
 | 2018-05-31 00:00:00
 | 2018-06-30 00:00:00
 | 2018-07-31 00:00:00
 | 2018-08-31 00:00:00
 | 2018-09-30 00:00:00
 | 2018-10-31 00:00:00
 | 2018-11-30 00:00:00
 | 2018-12-31 00:00:00
 | 2019-01-31 00:00:00
 | 2019-02-28 00:00:00
 | 2019-03-31 00:00:00
 | 2019-04-30 00:00:00
 | 2019-05-31 00:00:00
 | 2019-06-30 00:00:00
 | 2019-07-31 00:00:00
 | 2019-08-31 00:00:00
 | 2019-09-30 00:00:00
 | 2019-10-31 00:00:00
 | 2019-11-30 00:00:00
 | 2019-12-31 00:00:00