Spreadsheet: benjamin_rogers__1061__Trachtebel_77000
Sheet: Bellingham

[NAME]
Tolling Agreement | Annualized Capacity Revenue
 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018
Revenue
Capacity Revenue ($/Kwm) | 3.375842143404396 | 2.646225953703731 | 2.162511534162616 | 2.045221405900568 | 2.002843461872739 | 2.009335195707169 | 2.060783764888532 | 2.100286373848217 | 2.239444534490034 | 2.223987729646558 | 2.299678206006362 | 2.427258334851174 | 2.550331928115989 | 2.574672529308886 | 2.730539628378216 | 2.727520535299857 | 2.815262611293914 | 2.960028598678317 | #[NAME]! | #[NAME]! | #[NAME]! | #[NAME]!
Energy Revenue (Notional) | 14332413.63484508 | 13915686.45376037 | 14017937.85350854 | 13824990.75520521 | 13820274.24463991 | 13735980.87617663 | 13905331.49112917 | 14014738.65913494 | 14347297.1013077 | 14039293.18024793 | 14496150.58847113 | 14898717.80163907 | 15495414.52717408 | 15299619.04625017 | 15855699.6763086 | 15963155.2999783 | 16261145.14905364 | 16658619.67375317 | 0 | 0 | 0 | 0
Yearly Capacity Revenue (not.) | 12153031.71625582 | 9526413.433333432 | 7785041.522985416 | 7362797.061242048 | 7210236.46274186 | 7233606.70454581 | 7418821.553598717 | 7561030.945853581 | 8062000.324164123 | 8006355.826727608 | 8278841.541622903 | 8738130.005464228 | 9181194.941217562 | 9268821.105511988 | 9829942.662161577 | 9819073.927079484 | 10134945.40065809 | 10656102.95524194
[NAME]. Rev of Deal ($/Kwm) | 2.476156308144071
Expenses
Fuel | 10868257.99714259 | 10420195.47127318 | 10611579.12625975 | 10480221.40708447 | 10507263.32042116 | 10480336.43116054 | 10649941.37021486 | 10780335.58543647 | 11070621.36047151 | 10872305.73503504 | 11279326.20604896 | 11645617.57319168 | 12139465.75585258 | 12065060.81548967 | 12552520.35561573 | 12694049.79713024 | 12985718.1912154 | 13359761.53353219 | 0 | 0 | 0 | 0
Variable O&M | 2417112.315724308 | 2438976.531919512 | 2376784.559503425 | 2333810.610761636 | 2311651.191390856 | 2271623.768292033 | 2271446.313817438 | 2256802.615438535 | 2286298.341105426 | 2209763.405042989 | 2244537.095172696 | 2269848.542856104 | 2341611.045940453 | 2256910.876176423 | 2304791.196502899 | 2281016.212532764 | 2285427.003590697 | 2301776.095673306 | 0 | 0 | 0 | 0
Per Start | 1047043.321978182 | 1056514.450567677 | 1029574.167745361 | 1010958.737359107 | 1001359.732827894 | 984020.6767240574 | 983943.8070968702 | 977600.4582599341 | 990377.3997307586 | 957224.0401698941 | 972287.2872494729 | 983251.6855912897 | 1014337.725381042 | 977647.354584073 | 998388.1241899694 | 988089.2903152977 | 989999.9542475464 | 997082.044547671 | 0 | 0 | 0 | 0
Check | 0 | 0 | -2.561137080192566e-09 | 2.328306436538696e-09 | 0 | 0 | 1.862645149230957e-09 | 1.396983861923218e-09 | 1.513399183750153e-09 | -1.280568540096283e-09 | -9.313225746154785e-10 | 0 | 2.444721758365631e-09 | 0 | 2.561137080192566e-09 | -1.164153218269348e-09 | 1.396983861923218e-09 | 0 | 0 | 0 | 0 | 0
Marginal Cash Flows | 17431106.54248612 | 15854941.03091097 | 14942349.6744365 | 14457181.27141266 | 14702386.12367815 | 15654794.46776861 | 15936999.41592937 | 16126032.74238423 | 16614425.08486381 | 16779877.85094867 | 16955188.9295201 | 17200567.23395622 | 17300139.1737849 | 17297236.49205351 | 17627130.18503136 | 17417319.84993421 | 17483359.34075898
PV of Marginal Cash Flows
Fixed Expenses
Fixed O&M | 1500
Insurance | 964
G&A and Professional Fees
Property Taxes
Management Fees | 0
Fuel Management Fees | 0
Subtotal
Operating Margin | 0
Merchant Value per $kwh
Merchant Value @ 14%
Property Tax Switch (1=original, 2 = $1.9 mm) | 2
$1.9 mm from ENA Property Tax department based
on 1.4% Property Tax Rate and a mkt value of $140 mm
Assumptions:
NEPOOL
TETCO M3 + $0.15
8 hr blocks Mon - Sun
95% Availability - No unit contingency
8300 HR
VOM $5.92
Excluding Nov - Mar due to gas constraints
[NAME] correlation curve
No run hours constraints