Spreadsheet: benjamin_rogers__1264__NewCo-7-15-00
Sheet: Devel_Summary

 | NewCo Development - Financial Summary
 | ('000 $) |  | 2001
 | New Capacity - FPLE |  | 0
 | New Wind Capacity - FPLE |  | 0 | 485 | 0 | 0 | 0
 | New Capacity - Enron |  |  |  |  | 0 | 0
 | Total MW
 | Cumulative MW
 | * 170 MW of Doswell CT is not included here.
 | PP&E |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Cumulative
 | FPLE Gas
 | FPLE Wind |  | 0
 | ENA |  |  |  |  | 0 | 0
 | Total PP&E
 | Equity
 | Debt
 | Total Equity and Debt
 | Net Income
 | Moore
 | [NAME] |  | 0
 | Pastoria |  | 0 | 0
 | ENA Sub Total
 | 2001 Projects
 | 2002 Projects |  | 0
 | 2003 Projects |  | 0 | 0
 | 2004 Projects |  | 0 | 0 | 0
 | 2005 Projects |  | 0 | 0 | 0 | 0
 | FPLE Gas Total
 | FPLE Wind |  | 0
 | Total
 | Aftertax Cash
 | Moore
 | [NAME] |  | 0
 | Pastoria |  | 0 | 0
 | ENA Sub Total
 | 2001 Projects |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 | 2002 Projects |  | 0
 | 2003 Projects |  | 0 | 0
 | 2004 Projects |  | 0 | 0 | 0
 | 2005 Projects |  | 0 | 0 | 0
 | FPLE  Gas Total
 | FPLE Wind |  | 0
 | Total
 | EBITDA
 | Moore
 | [NAME] |  | 0
 | Pastoria |  | 0 | 0
 | ENA Sub Total
 | 2001 Projects |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 | 2002 Projects |  | 0
 | 2003 Projects |  | 0 | 0
 | 2004 Projects |  | 0 | 0 | 0
 | 2005 Projects |  | 0 | 0 | 0 | 0
 | FPLE  Gas Total
 | FPLE Wind |  | 0
 | Total
 | Gas Projects
 | First year is half year.
 | Construction loan is done off-balance sheet; convert to term at COD.
 | Includes Rhode Island Project (2002 in-service); utilizes Reliant's CTs.
 | Includes all advanced stage development projects.
 | Utilizes generic combined cycle financial information - 2 x 1 configuration (500 MW), $550/kW capital cost, 20 yr 14% aftertax equity return, 60/40 debt to equity capital structure.
 | Wind Projects
 | Assume Year 1 is full year.  Majority of wind assets will become operational in the second half of 2001 due to expiration of PTCs at year end.
 | PTCs assume a 43% capacity factor.
 | ('000 $) |  | 2001
 | Book Depreciation
 | Moore | 30
 | [NAME] | 30 | 0
 | Pastoria | 30 | 0 | 0
 | ENA Sub Total
 | 2001 Projects | 30 | 0
 | 2002 Projects | 30 | 0
 | 2003 Projects | 30 | 0 | 0
 | 2004 Projects | 30 | 0 | 0 | 0
 | 2005 Projects | 30 | 0 | 0 | 0 | 0
 | FPLE Gas Total
 | FPLE Wind | 30 | 0
 | Total
 | Tax Depreciation
 | Moore |  | 0.05910000000000001 | 0.09803000000000002 | 0.07359828 | 0.06576197040000001 | 0.059141013456 | 0.05346149004 | 0.0485244080908608 | 0.0441838041374903 | 0.04033136800363351 | 0.03688563744829956 | 0.03378439517298407 | 0.03097931062456487 | 0.02843215604298753 | 0.02611212713711042 | 0.02399393944453772 | 0.02205646991899067 | 0.02028178224581573 | 0.0186544226705513 | 0.01716090693774119 | 0.01578934261794898
 | [NAME] |  |  | 0.0375 | 0.07219 | 0.06677 | 0.06177 | 0.05713 | 0.05285 | 0.04888 | 0.04522 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462
 |  |  | 0
 | Pastoria |  |  |  | 0.0375 | 0.07219 | 0.06677 | 0.06177 | 0.05713 | 0.05285 | 0.04888 | 0.04522 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461
 |  |  | 0 | 0
 | ENA Sub Total
 |  |  | 0.0375 | 0.07219 | 0.06677 | 0.06177 | 0.05713 | 0.05285 | 0.04888 | 0.04522 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461 | 0.04462 | 0.04461
 | 2001 Projects
 | 2002 Projects |  | 0
 | 2003 Projects |  | 0 | 0
 | 2004 Projects |  | 0 | 0 | 0
 | 2005 Projects |  | 0 | 0 | 0 | 0
 | FPLE Gas Total
 | FPLE Wind |  |  | 0.2 | 0.32 | 0.192 | 0.1152 | 0.1152 | 0.0576 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
 |  |  | 0
 | Total
 | DEFERRED INCOME TAXES - Development Projects
 | Book Depreciation
 | Tax Depreciation
 | Total Deferred Taxes
 | Cummulative Deferred Taxes
 | Deferred Tax Asset
 | Deferred Tax Liability
 | ('000 $) |  | 2001
 | [NAME] Projects
 | Moore
 | [NAME]
 | Pastoria
 | ENA Sub Total
 | 2001 Projects
 | 2002 Projects |  | 0
 | 2003 Projects |  | 0 | 0
 | 2004 Projects |  | 0 | 0 | 0
 | 2005 Projects |  | 0 | 0 | 0 | 0
 | FPLE Gas Total
 | FPLE Wind |  | 0
 | Total