Spreadsheet: benjamin_rogers__1185__United American Energy 02-09-00
Sheet: Assumptions

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PROJECT NAME:
ASSUMPTIONS & SUMMARY OUTPUT
SOURCES & USES: |  |  |  |  | PROJECT DESCRIPTION: |  |  |  |  |  | TECHNICAL ASSUMPTIONS: |  |  |  |  |  |  |  |  | Fuel | Capacity $ | VOM | Residual Value | Capacity | Chillers | Compressor | Debt
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Index | Base | Pass-through | EBITDA Exit Multiple | ISO | Yes | Yes | Bank LT Debt
Sources of Funds | % | 000 $ | $/kW |  | Type of Turbine |  | LM6000 |  |  |  | Site Condition (MW) |  |  |  |  |  |  |  |  | Fixed | Low | Not Pass-through | % of Project Cost | 95 degrees | No | No | Capital Market
Total Equity |  |  |  |  | Cost Per Turbine (w Carry Cost) (000$) |  | 14260.44960733171 |  |  |  | Evaporative Cooler (MW) |  | 0 |  |  |  |  |  |  | Custom | Index |  | 000$/MW |  |  |  | Mini-perm
Debt Issuance |  |  |  |  | Number of Turbines |  | 3 |  |  |  | Net Output (MW) |  |  |  |  |  |  |  |  |  | Custom |  | None
 |  |  |  |  | Net Turbine Rating (MW) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3 | 1 | 1 | 1 | 2 | 1 |  | 1
Total Sources |  |  |  |  | Heat Rate (HHV) |  |  |  |  |  | Available PSIG |  | 400
 |  |  |  |  | No. of Construction Months |  | 8 |  |  |  | No. of Run Hours per year |  | 1400
 |  |  |  |  | Start of Commercial Operation |  | 2001-05-01 00:00:00 |  |  |  |  |  |  |  |  |  |  |  |  |  | With Chillers | Without Chillers
Uses of Funds |  |  |  |  | No. of Months in the 1st Operating year |  |  |  |  |  | OPERATING COSTS ASSUMPTIONS (FROM ENGINEERS/ASSET MANAGEMENT): |  |  |  |  |  |  |  |  | ISO | 11 | 21
 |  |  |  |  | Project Life (Years) |  | 30 |  |  |  | (1st year Annualized) |  |  |  |  |  |  |  |  | 95o | 12 | 22
EPC (From Engineers/Nepco): |  |  |  |  | Location (State) |  | MO
Turbine (w Carrying Cost) |  |  |  |  |  |  |  |  |  |  | CPI Escalator (%) |  | 0.03
[NAME] |  |  |  |  | Residual Value (at year 30)
BOP & Construction |  | 20232 |  |  | EBITDA Exit Multiple |  | 5 |  |  |  | Escalated Costs:
Pipeline |  | 0 |  |  | % of Project Cost |  | 0.2 |  |  |  |  |  | 000$ -year | $/kW-year | $/mW-hour
Power Interconnection |  | 0 |  |  | 000$/MW |  | 200 |  |  |  | Variable Operating Cost |  | 115.61 |  | 0.5
SCR |  | 0 |  |  |  |  |  |  |  |  | Major [NAME] |  | 358.39 |  | 1.55
Dual Fuel |  | 720 |  |  | FINANCING ASSUMPTIONS: |  |  |  |  |  | Total VOM
Black Start |  | 0 |  |  | DEBT |  | Construction Loan
Gas Compression |  | 960 |  |  | Debt Issued | 2000-08-01 00:00:00 |  |  |  |  | Fixed Operating Expenses |  | 550
Demineralized Water Facility |  | 0 |  |  | Treasury Rate as of: | 2000-02-01 00:00:00 |  |  |  |  | Insurance |  | 0
Overhead & Fees - EE&CC |  | 990 |  |  |  |  |  |  |  |  | SG&A |  | 0
Overhead & Fees - Nepco |  | 3999 |  |  | Amount ('000 $) |  |  |  |  |  | Utilities, Start Power |  | 0
Chillers |  | 2850 |  |  | Term (yrs) | 17 |  |  |  |  | Marketing Fee |  | 0
Spare Parts |  | 0 |  |  | Final Maturity |  |  |  |  |  | Admin Fees |  | 0
Sub Total |  |  |  |  | Average Life (yrs) |  |  |  |  |  | O&M Fees |  | 0
 |  |  |  |  |  |  |  |  |  |  | Total Fixed Escalating Cost
Soft Cost: (From Engineers/Asset Management) |  |  |  |  | Treasury Rate (%) | 0.0683 | 0.0683
EE&CC Project Management |  | 0 |  |  | Spread (%) | 0.01 | 0.01 |  |  |  | Non-Escalated Costs:
Mobilization Expenses |  | 0 |  |  | All-In Rate (%) |  |  |  |  |  | Fuel
Environmental Permitting |  | 0 |  |  |  |  |  |  |  |  | Property Tax |  | 0
Insurance During Construction |  | 0 |  |  | Maximum DSR Amount (000 $) | 4028.661318372296 | 6 | (months/year) |  |  | Franchise Tax
Capitalized Salaries |  | 0 |  |  | Debt Service Reserve [NAME] | 0.02 |  |  |  |  | [NAME]
Owner's Engineer |  | 1000 |  |  | Interest Income Rate | 0.05 |  |  |  |  | Debt Service Reserve Fee (average 000$)
Development Expenses |  | 0
Legal Expense |  | 0 |  |  | EQUITY |  |  |  |  |  | DEPRECIATION ASSUMPTIONS:
Interconnect Study |  | 0 |  |  | Equity Closed | 2000-08-01 00:00:00
IDC |  |  |  |  | Equity Partner's Share | 0.5 |  |  |  |  |  |  | Year | Method | Residual (%)
Land |  | 0 |  |  | Enron's Share |  |  |  |  |  | Federal & State Tax Depreciation
Sales & Used Tax |  |  |  |  |  |  |  |  |  |  | EPC Costs |  | 15 | MACRS | 0
Contingency |  | 0 |  |  | PPA ASSUMPTIONS (MAKE CHANGES AS NEEDED): |  |  |  |  |  | Start-Up Cost |  | 5 | SL | 0
Sub Total |  |  |  |  |  |  |  |  |  |  | Transaction Costs |  | 20 | SL | 0
 |  |  |  |  | Fixed Price PPA
Financing Costs: |  |  |  |  | No. of years |  | 3 |  |  |  | Book Depreciation
Lender's Engineer |  | 0 |  |  | Capacity Charge ($/kW-mo) |  | 4.75 |  |  |  | EPC Costs |  | 30 | SL | 0.1
Lender's Counsel |  | 0 |  |  |  |  |  |  |  |  | Start-Up Cost |  | 5 | SL | 0
Financing Fee |  | 0 |  |  | Merchant Price Period |  |  |  |  |  | Transaction Costs |  | 20 | SL | 0
Sub Total |  |  |  |  | No. of years
 |  |  |  |  | Capacity Charge ($/kW-mo) |  |  |  |  |  | TAX ASSUMPTIONS (PROJECT MAY INCLUDE SPECIFIC TAXES):
Total Uses
 |  |  |  |  | Variable Payment ($/mW-hour) |  |  |  |  |  | Federal Income Tax Rate (%) |  | 0.35
SUMMARY OUTPUT: |  |  |  |  |  |  |  |  |  |  | State Income Tax Rate (average %) |  | 0.07 | (Project Specific)
 |  |  |  |  | Net Generation (MW) |  |  |  |  |  | Franchise Tax (% on Net Asset) |  | 0.0025 | (Project Specific)
All-in Capital Cost ($/kW) |  |  |  |  |  |  |  |  |  |  | [NAME] (%) |  | 0 | (Project Specific)
Breakeven Capacity Price (first year $/kW-month) |  |  |  |  |  |  |  |  |  |  | Sales & Used Tax Rate on Fuel (%) |  | 0.015 | (Project Specific)
 |  |  |  |  |  |  |  |  |  |  | Sales & Used Tax Rate on Hard Cost (%) |  | 0.08 | (Project Specific)
 |  | [NAME]. | Min
DSCR
Enron Equity Returns
30 Yrs After-Tax Cashflow & w/o Residual Value
30 Yrs After-Tax Cashflow & w Residual Value
Key Stats
EBITDA (000 $)
Net Income (000 $)
Pre-Tax Cashflow (000 $)
After-Tax Cashflow (000 $)