Loading...
HomeMy WebLinkAbout20050119Application Part II.pdfEXHIBIT D Location of Coyote Springs Plant Relative to A vista Utilities Service Area Application of A vista Corporation Case No. AVU-O5- SEE CASE FILE FOR MAP(S) EXHIBIT E Excerpts from 2000 Updated Integrated Resource Plan Application of A vista Corporation Case No. AVU-O5- July 12, 2000 A VISTA CORPORATION 1997 Integrated Resource Plan Update I. Introduction: Avista s last Integrated Resource Plan (IRP) was filed with the Commission on August 25, 1997. That plan showed that the company was surplus for many years into the future. Since then many things have changed in the electric utility industry and for A vista. Therefore, the company has prepared this updated IRP to include those significant changes. As discussed later, this updated IRP will also serve as the basis for a Request- for-Proposal (RFP) that A vista plans to issue. The following information has been presented at various T AC meetings and will become a integral part of the next IRP. II. 1997 IRP Update 1. Load Forecast The 2000 electric sales forecast was prepared during the summer of 1999. The forecast of firm sales to the core-market is one of the most critical elements and was presented and discussed at the T AC meeting. A vista Utilities utilizes econometric models to produce sales and customer forecasts. Econometric models are systems of algebraic equations which relate past economic growth and development in the geographic communities served electricity with past customergrowth and consumption. The electrical energy forecast shows an annual average load of 1013 aMW in 2001 increasing to 1159 aMW in 2009. The peak forecast shows 1594 MW in 2001 with 1851 MW in the year 2009. The ten-year compound growth rate for residential usage is 2.3 percent, commercial is 3. percent and industrial is 1.6 percent. The overall total energy forecast has a compound growth rate of 1.9 percent. The annual load forecast numbers, for both peak and energy, through the year 2009 can be found on the Requirements and Resources tabulation sheet. 2. Resource Assessment Centralia The sale of the Centralia coal-fired plant resulted in the loss of 201 MW of capacity and 177 of annual energy from A vista s resource portfolio. The company entered into a short-term contract with TransAlta, the new owners of Centralia, to replace a majority of the generation lost with the sale of the plant. The term of this contract starts in July 2000 and extends through December 2003. A vista Corp - 1997 IRP UDdate Exhibit E Page 1 of 5 costs and discharge less pollutants into the air than other fossil fuel plants. As shown in Appendix B, the Northwest Power Planning Council costs for natural gas fired generation projects range from approximately 41 mills to 43 mills. At this point in time the following resources would not pass the initial screening. The following costs are nominal life-cycle, levelized costs. Nuclear: Costs are over the 100 mills per kilowatt-hour range. The total cost and the lack of public acceptance make this resource option unacceptable. Coal: Costs are 80 to 90 mills. The total cost and cost uncertainty in air quality issues make this resource option unacceptable. Wind: Costs are 60 to 80 mills. There are indications that costs are declining but our studies show there are not favorable sites in our service territory so transmission costs would have to be added. Because wind is intermittent the resource would have to be discounted for lack of capacity component. This would make this resource option unacceptable. Geothermal: Costs are 80 to 100 mills making this resource option unacceptable. Solar: Costs are over 240 mills making this resource option unacceptable. These costs are presented for general comparison purposes. The company will solicit resource bids from the market in an upcoming Request-for-Proposals (RFP). The company is hoping for innovative bids from project developers. The RFP bids will be evaluated against the information that has been gathered both internally and externally. 8. Load and Resource Summary General Included is Avista s annual Requirements and Resources (Load and Resource Summary) that shows the company s load and resource position on an annual basis for the next ten years (see Appendix D). It is dated June 1,2000 and will be the same one used in the 2000 JRP. The peak column is the January peak (the highest forecasted peak for the year) and the average column is the annual 12-month average for the year. The resource peak numbers are what could be expected as maximum capacity outputs during January. The hydro peak and energy numbers are from the final regulation done by the Northwest Power Pool and reflect the reservoir levels in January per the hydro regulation study (one-year critical period, 1936-37 water). The average energy numbers are the expected 12-month averages for the loads, resources and contracts. All the requirements are shown at the top of the page. Most of the purchases and sales contracts end by the year 2004. The peak and average forecasted loads are shown on line 1 labeled System Load. Line 17 Reserves are A vista s planning reserves and are part of the total Requirements (as described in Section 3). The Resource section is comprised of the resources and purchase contracts. Line 19 shows the system hydro and line 20 is the contract hydro from the mid-Columbia PUD projects (with critical water conditions). The mid-Columbia numbers decrease due to the Priest Rapids contract ending in 2005 and the Wanapum contract ending in 2009. A vista is hopeful that a contract extension can be negotiated with Grant County PUD. Lines 24 and 25 are the company s existing A vista Corp - 1997 IRP Update Exhibit E Page 2 of5 simple-cycle combustion turbines, and lines 33 and 34 are the expected thermal generation output from Kettle Falls and Colstrip. Line 29 shows the BP A residential exchange contract and the 47 MW flat delivery of power to the company from BP A. There is no dispatchability or flexibility with this contract. Although this contract has not been signed, A vista feels it is firm enough to be included. Line 44 is the Surplus (Deficit) numbers calculated by subtracting the Total Requirementsfrom the Total Resource numbers. In the year 2004 A vista is 287 MW deficit on peak and 318 aMW deficit on energy under critical water planning criteria. Resource Flexibility Flexible generation resources are a key component to meet the requirements of Avista customers. As depicted in the charts on pages 8 and 9 in Appendix E, A vista experiences load changes of 100 MW or more during several hours of each day. Loads must be ramped up and down under a variety of seasonal and load conditions. In order to meet the load, flexible resources (Cabinet Gorge, Noxon Rapids, Long Lake, Mid Columbia contract hydro, and the Rathdrum Combustion turbines) are dispatched. Even with these resources, Avista still must purchase peak energy products to meet customer demand during different times. The market today tends to offer standard heavy load hour and light load hour products that do not meet load shaping or following needs. 2004 Study A detailed tabulation of the load and resource requirements study of the year 2004 is also attached (see Appendix E). We chose the year 2004 for an in-depth study because, as mentioned above, many of the larger supply and requirements contracts have ended and future requirements change (for the most part) due to load growth. This study is shown in two parts. The first study shows on and off peak loads and resource requirements monthly under critical and normal hydro conditions. The second study goes into even further detail. We created an hourly Surplus-Deficiency duration Curve for the year 2004 using PROSYM to gain the following information. By using the Northwest Power Pool's sixty year hydro generation study for our system, PROSYM runs 720 (sixty years X 12 months/year) hydro scenarios into the forecast net system load, all known contracts, and existing resources. The information gained from this model output shows the company s resource requirements to meet load under many different hydro conditions. This duration curve will be used to analyze how new resource additions will "fit" into the company s requirements without any affect from market conditions. As stated before, standard economic modeling must be performed after dispatch information is gained from PROSYM modeling. Load growth expectations based on the forecasted methodologies are explained under Section A vista doesn t expect drastic changes in our load beyond the nonnalload growth that has been experienced. But the future is uncertain and A vista needs to be flexible enough to handle unforeseen changes. For example, the company could lose load by having Avista s larger retail customers install cogeneration, like WSU or Potlatch deciding to serve their own load from existing generating facilities. Or if partial deregulation was to come to our region, A vista could pick up some industrial loads thereby increasing the load requirements. A vista Corp - 1997 IR.P UDdate Exhibit E Page 3 of 5 ... 0'10'1 ... ell . ,... Exhibit E Page 4 of 5 Ex h i b i t D - A n n u a l L o a d a n d R e s o u r c e F o r e c a s t AV I S T A C O R P . Re q u i r e m e n t s a n d R e s o u r c e s fi g u r e s i n M W 20 0 0 20 0 1 20 0 2 20 0 3 20 0 4 20 0 5 20 0 6 20 0 7 20 0 8 20 0 9 li n e N o . RE Q U I R E M E N T S Av a Av a Av a Av a Av a Av a Av a Av a Av a Av a Sy s t e m L o a d 15 5 7 10 0 8 15 9 4 10 1 3 15 5 7 97 1 15 7 2 98 2 16 0 8 10 0 7 16 4 9 10 3 3 16 9 2 10 5 9 17 4 3 10 9 1 17 9 6 11 2 4 18 5 1 11 5 9 Pa c i l i C o r D E x c h a n a e Pu a e t # 2 I 10 0 Pa c i f i C o r o 1 9 9 4 PG E # 1 15 0 15 0 15 0 15 0 15 0 15 0 15 0 15 0 15 0 15 0 Sn o h o m i s h 1 0 v r 10 0 10 0 10 0 10 0 10 0 10 0 10 0 Co a e n t r i x 5 7 m o 10 0 10 0 10 0 Nic h o l s P u m p i n a We s t K o o t e n a y 12 5 Eu a e n e W a t e r & E l e c t r i c PG E S a l e I Pe n d O r e i l l e Mo n t a n a S a l e 10 0 10 0 10 0 Du k e S a l e I 10 0 10 0 10 0 Cl a r k 2 P U D 25 0 13 7 25 0 Cit y o f C h e n e y Re s e r v e s I 24 9 24 6 il l 25 1 26 4 2Z . Q TO T A L R E Q U I R E M E N T S 28 7 1 16 6 2 27 3 7 14 7 0 20 8 6 10 9 6 20 6 9 10 8 2 21 0 9 11 0 7 21 5 4 11 3 3 22 0 1 11 5 9 21 5 7 11 0 3 22 1 6 11 2 7 22 7 6 11 6 2 RE S O U R C E S Sy s t e m H v d r o 93 6 31 3 93 6 31 3 93 6 31 3 93 6 31 3 93 6 31 3 93 6 31 3 93 6 31 3 93 6 31 3 93 6 31 3 93 6 31 3 Co n t r a c t H y d r o 19 5 19 5 19 5 19 5 19 5 19 5 14 0 14 0 14 0 14 0 Ca n E n t R e t u r n Sm a l l P o w e r Co a e n e r a t i o n No r t h e a s t C T s Ra t h d r u m C T s 17 6 17 6 17 6 17 6 17 6 17 6 17 6 17 6 17 6 17 6 Pa c i f i C o r p E x c h a n a e BP A l A v i s t a E x c h a n a e En t i t l e m e n t & S u p p l e m e n t a l BP A R e s . E x c h a n a e 14 9 14 9 14 9 14 9 14 9 14 9 BP A - WN P # 3 CS P E Tr a n s A l t a - Ce n t r a l i a 20 0 13 8 20 0 14 3 20 0 14 3 20 0 14 3 Th e r m a l - Ke t t l e F a l l s Co l s t r i D 22 2 19 1 22 2 19 1 22 2 19 1 22 2 19 1 22 2 19 1 22 2 19 1 22 2 19 1 22 2 19 1 22 2 19 1 22 2 19 1 SE M P R A BP A 5 y r . P u r c h a s e 11 5 11 5 11 5 Id a h o P u r c h a s e 10 0 10 0 10 0 Du k e P u r c h a s e 10 0 10 0 10 0 MI E C O Ci n e r g v S e r v i c e s . I n c . En e r a v S e r v i c e s . I n c . En r o n TO T A L R E S O U R C E S 24 7 6 14 2 5 24 4 2 12 6 7 20 4 0 94 4 20 3 9 93 3 18 2 2 78 9 18 2 2 78 5 17 7 1 78 9 18 7 4 86 6 18 7 4 86 6 18 7 4 86 1 SU R P L U S C D E F I C I T T 39 5 23 7 29 5 20 3 15 2 14 9 28 7 31 8 33 2 34 8 43 0 37 0 28 3 23 7 34 2 26 1 40 2 30 1 '" ' d ~ ~ !J Q = - 10 0 0 ' th := : S, ~ Av i s t a C o r p - 1 9 9 7 I R P U p d a t e EXHIBIT F Letter of Intent Application of A vista Corporation Case No. AVU-O5- Avilta Corp. 1411 fa.Mission PO Box3727 Spokane, WaahingtOn 99220-3727 Telephone D" IXSOO ToDFree &727-9170 .J.'~'VISTA. COrp. June 24, 2004 Mirant Oregon, LLC c/o Mirant California 1350 Treat Blvd., Suite 500 Walnut Creek, CA 94597 Attn: Anne M. Cleary, President Dear Ms. Cleary: Enclosed please find two signed originals of the Letter of Intent for the potential purchase of Coyote Springs Unit 2 from Mirant Oregon, LLC. Please sign both originals and return one to me. If you have any questions, please can me at 509 495-8093 or Ron Peterson at 509 495- 8045. Sincerely, fr~ Steven G. Silkworth Wholesale Power Manager Enclosure AVIST Corp. Confidential and Proprietary June 25, 2004 Mirant Oregon, LLC c/o Mirant California 1350 Treat Blvd., Suite 500 Walnut Creek, CA 94597 Attn: Anne M. Cleary, President Ladies and Gentlemen: This letter of intent Letter of Intent' ~, effective on the date when executed by all the Parties hereto (the Effective Date ~, will evidence the current mutual intent, as set forth in Article I below, of MIRANT OREGON, LLC, a Delaware limited liability company Mirant' and A VISTA CORPORATION, a Washington corporation (tlAvista ~, with respect to the potential purchase (the Transaction by Avista of Mirant's 50% undivided ownership interest, as tenant-in-common, in the Coyote Springs Unit 2 generation facility (the Facility" consisting of an approximately 280 MW gas-fJIed, combined-cycle power plant, in Boardman, Oregon, including Mirant's undivided ownership interest in certain components shared with the adjacent Coyote Springs Unit 1 generation facility owned by Portland General Electric. Mirant and A vista are sometimes referred to individually as a Party" herein and collectively as the Parties.Mirant is wholly owned by Mirant Americas, Inc. ("MAl"). MAl and certain of its affiliates have filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code ) in the United States Bankruptcy Court for the Northern District of Texas (the "Bankruptcy Court") and continue to operate their respective businesses as debtors and debtors in possession. Attached to this Letter of Intent as Exhibit A is a proposal for the Transaction (the Proposal') under which Mirant and A vista are prepared to complete the Transaction if they are able to reach mutually satisfactory definitive agreements for consummation of the Transaction and if they evidence their willingness to proceed with the Transaction by executing and delivering those agreements. The matters set forth in Article I and Exhibit A are not intended to and do not constitute a binding agreement of the Parties to consummate the Transaction. Any such binding agreement between the Parties will only arise upon the negotiation, execution and delivery of mutually satisfactory definitive agreements and the satisfaction of the conditions set forth therein, including without limitation, the satisfactory completion by the Parties of their respective due diligence inquiries and the approval of such agreements by the Parties' respective board of directors or other required internal approval, all required regulatory approvals and satisfaction of certain requirements of the Bankruptcy Code, including approval of the Bankruptcy Court and any requisite approvals pursuant to MAl's postpetition debtor in possession financing facility. Mirant Oregon, LLC June 2S, 2004 Page 2 The matters set forth in Article II do constitute binding agreements of the Parties. Article I Transaction Documents Definitive Agreements. The Parties will exercise good-faith efforts to diligently negotiate an Asset Purchase Agreement with respect to the Facility and such other definitive agreements necessary to accomplish the Transaction (collectively, the "Definitive Agreements ~. The Parties anticipate that Definitive Agreements, if entered into, will include provisions substantially similar to those set forth in the Proposal together with such other provisions as the Parties may conclude are necessary or appropriate for the consummation of the Transaction. No Obligation to Enter. Neither Party is obligated by this Letter of Intent to enter into any of the Definitive Agreements with the other Party with respect to the Transaction or any other matter. Article II Binding Provisions 1. Confidentiality. The Parties agree that this Letter of Intent and the matters identified in it are "Confidential Information" under the provisions of that certain Confidentiality Agreement dated of even date herewith, between Mirant and A vista (the "Confidentiality Agreement' ~, and that the terms and conditions of the Confidentiality Agreement remain in full force and effect. 2. Term. Unless extended or earlier terminated by mutual written agreement of the Parties, this Letter of Intent shall remain in effect during the period from the Effective Date until the earliest to occur of (a) the execution of Definitive Agreements, (b) the date on which either party provides the other with written notice that negotiations toward Definitive Agreements are terminated, or (c) July 31, 2004, (the earliest to occur of such dates being referred to herein as the Termination Date 3. Restricted Dealings. During the term of this Letter of Intent, Mirant agrees not to, and agrees to cause its affiliates and representatives not to, solicit or entertain offers from, negotiate with or in any manner encourage, discuss, accept or consider any proposal of any other person or entity relating to the sale, acquisition or transfer of Mirant's interest in the Facility. During the term of this Letter of Intent, A vista agrees not to, and agrees to cause its affiliates and representatives not to, solicit or entertain offers from, negotiate with or in any manner encourage discuss, accept or consider any proposal of any other person or entity relating to the sale or transfer by A vista (or its affiliates or representatives) of all or part of a power generation asset in Boardman, Oregon or within the surrounding 50 miles thereof. In the event that the parties execute Definitive Agreements, it is understood that the Transaction contemplated thereby will be subject to higher or otherwise better offers submitted in connection with a Bankruptcy Court supervised auction and sale approval process; provided that such process shall be conducted in accordance with the procedures set forth in such Definitive Agreements, as more specifically contemplated on Exhibit A. Mirant Oregon, LLC June 25, 2004 Page 3 4. Capital and Operating Expenses. For the avoidance of doubt, the obligations of the Parties to fund capital and operating expenses of the Facility shall be as provided in the Co-Tenancy and Joint Operating Agreement, dated as of January 1, 2003 between the Parties (the Operating Agreement" ). Notwithstanding the foregoing, for the period from the date of this Letter of Intent until the closing under Definitive Agreements (provided the Transaction is consummated): (i) any capital expenditures made by Mirant shall be repaid to Mirant in full at such closing, and (ii) any prepaid operating expenditures made by Mirant shall be repaid to Mirant as part of a working capital adjustment under the Definitive Agreements. 5. Expenses. Each Party shall bear its own costs and expenses associated with negotiating and performing under this Letter of Intent; provided however, that if the Parties execute Definitive Agreements, A vista will be entitled to customary bidding protections and procedures as set forth in Exhibit A. For the avoidance of doubt, the expenses of Coyote Springs 2, LLC, a Delaware limited liability company (the Project Company associated with negotiating this Letter of Intent and any Definitive Agreements and the execution of the Transaction (including without limitation the fees and expenses of Heller Ehnnan White & McAuliffe LLP, counsel to the Project Company, shall be borne by the Project Company which shall be funded 50% by Mirant and 500/0 by A vista for this purpose. 6. Approyal. Neither Party shall be bound by any of the Definitive Agreements until (a) such Party s respective board of directors, or other required internal approval process, shall have approved such Definitive Agreements, (b) such Party shall have executed such Definitive Agreements, and (c) all conditions precedent to the effectiveness of such Definitive Agreements shall have been satisfied, including without limitation any conditions precedent relating to (i) the obtaining of any and all requisite federal, state or local regulatory orders, consents or approvals and (ii) payment by Mirant of its outstanding obligations pursuant to the Operating Agreement. Without limiting in any manner the foregoing, the Parties acknowledge and agree that in no event shall either Party be obligated to proceed with the Transaction, and that each may, prior to the execution and delivery of such Definitive Agreements, decline to proceed with the Transaction in its sole discretion. 7. Entire Agreement. The binding portions of this Letter of Intent, together with the Proposal constitute the entire agreement of the Parties relating to the subject matter hereof and supersede all prior discussions, agreements or understandings, whether oral or written, relating to such subject matter. There are no other written or oral agreements or understandings among the Parties with respect to the Transaction. Any waiver of any term or amendment of this Letter of Intent must be written and signed by both Parties. The binding provisions of this Letter of Intent may not be waived except in writing by the Party who has the right to enforce such provisions; provided. however, that Paragraphs 6, 9 and 12 may not be waived under any circumstances. No failure to exercise, no delay in exercising, and no course of dealing or trade custom with respect to, any provision of this Letter of Intent shall be deemed to waive any such provision. 8. Governing Law. This letter of intent shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to conflict of laws principles. Mirant Oregon, LLC June 25, 2004 Page 4 9. Non-Inclusive; Non-Binding. Neither this Letter of Intent, the attached Proposal, nor any other proposal, correspondence or course of dealing identifies all matters upon which agreement must be reached in order for the Transaction to be completed or for any Definitive Agreements to be finalized and executed. Except with respect to the obligations of the Parties expressly set forth in Article IT, this Letter of Intent does not create and is not intended to create a binding and enforceable contract between the Parties as to the Transaction or any obligation to enter into or proceed with the Transaction, and may not be relied upon by a Party as the basis for a contract by estoppel or otherwise with respect to any matter. A binding commitment with respect to the Transaction can only result from the execution and delivery of Definitive Agreements. 10. Assignment. Neither Party may assign or otherwise transfer its interest in this Letter of Intent without the prior written consent of the other Party. 11. Relationship of the Parties. The Parties shall not be deemed in a relationship of partners or joint venturers by virtue of this Letter of Intent, nor shall either Party be an agent, representative trustee or fiduciary of the other. Neither Party shall have any authority under this Letter of Intent to bind the other to any agreement or obligation. 12. Limitation of Liability. UNDER NO CIRCUMSTANCES SHALL EITHER PARTY HERETO BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL, PUNITNE, EXEMPLARY OR INDIRECT DAMAGES, LOST PROFITS OR OTHER BUSINESS INTERRUPTION DAMAGES, WHETHER BY STATUTE, IN TORT OR CONTRACT OR OTHERWISE, IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED HEREBY. 13. Confidentiality; Press Releases. Each of the Parties agrees that, except as required by law it will not disclose to any person other than its representatives the identity of the other Parties as it relates to the negotiation of the Transaction. Neither Party shall issue a press release or make any public statement with respect to the Transaction without the prior approval of the other Party, which approval shall not be unreasonably withheld or delayed. If the provisions of Article I and Exhibit A correctly set forth our current understanding as to the non-binding nature of our discussions regarding Definitive Agreements, and the provisions of Article IT set forth our binding agreements with respect to the matters set forth therein, please execute both originals of this Letter of Intent in the space provided below, retain one fully-executed original for your file, and return one of the other originals to the undersigned. This Letter of Intent may be executed in counterparts, and all such counterparts together shall constitute but one agreement. Very truly yours, VISTA CORPORATION By: ~R. Name: Ronald R. Peterson Title: Vice President Energy Resources Mirant Oregon, LLC June 25, 2004 Page 5 Acknowledged, Agreed to and Accepted thiS 12!: day of J:&Re, 2004: ~tJ.J- Y MIRANT OREGON, LLC By: Name: Anne M. Cleary Title: President Exhibit A Proposed Terms and Conditions 1. Purchase Price.The Purchase Price for Mirant's 50% undivided ownership interest, as tenant-in-common, in the Facility will be in the form of a cash payment by A vista to Mirant in an amount equal to US$62,500,OOO.OO in immediately available funds to be made at closing. If Mirant agrees to sell, and Avista agrees to buy, Mirant' 50% ownership interest in the Project Company as part of the Transaction, Mirant and A vista will agree upon a mutually acceptable price. 2. No Financing Contingency. A vista has ample funds available to support its offer; accordingly, A vista s offer is not subject to any financing contingency. 4. Closing. Upon completion of due diligence and execution of Definitive Agreements, A vista shall deposit into escrow with a third party custodian reasonably satisfactory to Mirant an amount to be agreed that will be in immediately available funds (the Deposit" ). If the Transaction is consummated, the Deposit shall be applied as a partial payment of the Purchase Price. If the Transaction is not consummated for any reason (other than due to a breach by A vista of the Definitive Agreements that leads to termination of the Definitive Agreements in accordance with their terms), the Deposit shall be refunded to A vista. Subject to, among other things, receipt of any required third- party, governmental or other regulatory approvals and satisfaction of Mirant' s outstanding funding obligations, any, pursuant to the Operating Agreement, it is anticipated that the transaction could be closed within 45-60 days of the date that a motion is filed by MAl andlor its debtor affiliates with the Bankruptcy Court seeking appropriate approval of the Transaction. Closing shall occur within 5 Business Days after all conditions precedent have been satisfied. 3. Deposit. 5. Approvals Avista shall be responsible for filing all necessary Hart- Scott-Rodino ("HSR"), Federal Electric Regulatory Commission ("FERC") and Oregon Energy Facility Siting Council approvals. Mirant shall use commercially 6. Related Transmission Agreements 7. Timing Exhibit A Proposed Terms and Conditions reasonable efforts to assist A vista in obtaining all regulatory approvals. MAl and Mirant shall use their commercially reasonable efforts to obtain Bankruptcy Court approval of orders, both in fonn and substance acceptable to Avista, (a) approving bidding protections and procedures, as described in paragraph 7 hereof, and (b) authorizing the consummation of the Transaction, each within the time periods prescribed in the Definitive Agreements. It is understood that the power transmission agreements listed on Annex I hereto are currently held by MAl or its debtor affiliates for the benefit of Mirant's 50% interest in the Facility. The parties agree that, to the extent possible and economically practicable, MAl or its debtor affiliates will transfer or assign such agreements or otherwise make available such power transmission service as part of the Transaction. The parties recognize that any assignment of such agreements may require (i) the filing of a motion by MAl and/or its debtor affiliates with the Bankruptcy Court for approval of such assignment and (ii) FERC approval. The parties further agree that to the extent possible and economically practicable, MAl or its debtor affiliates will transfer or assign any requests MAl or its debtor affiliates have pending for long-term transmission service from the Bonneville Power Administration or other transmission providers. The Parties anticipate that the Transaction will be subject to higher or otherwise better offers submitted in connection with a Bankruptcy Court supervised auction and sale approval process (Parties shall consider jointly whether auction process will be run through the Bankruptcy Court). Accordingly, the Parties anticipate the following steps in the Transaction: Execution of this Letter of Intent; Negotiation and execution of mutually acceptable Definitive Agreements; Filing of motion by MAl and/or its debtor affiliates with the Bankruptcy Court to seek approval of the Transaction and customary bidding protections and procedures, including without limitation, customary overbid protections and payment of a termination fee expected to be in the range of 2-3% of the Purchase Price (the 8. Approval of Third Person Purchaser 9. Documentation. SE 2019101 v4 6/25/04 11:04 AM (25994.0009) Exhibit A Proposed Terms and Conditions Termination Fee ) and payment of A vista s reasonable fees and expenses up to a cap to be agreed, including attorneys fees and expenses, in certain specified circumstances to be defined in the Definitive Agreements; rovided, that in the event the auction process is not ron through the Bankruptcy Court, the parties will provide for such bidding protections and procedures in the Definitive Agreements. Filing of all requisite regulatory approvals, including without limitation Hart-Scott-Rodino flling, FERC filing and approval from the Oregon Energy Facility Siting Council for permission to transfer the Site Certificate. It is understood, that if in accordance with the procedures referenced above Mirant's interest in the Facility is to be transferred to a person other than A vista, such transfer shall be to a third party that meets certain minimum qualifications substantially based on those set forth in the definition of a Third Person Purchaser in the Operating Agreement and as Mirant and A vista shall agree otherwise in the Defmitive Agreements. It is anticipated that the Transaction will be subject to the same basic documentation that similar transactions between the parties or their affiliates have used previously. Mirant and A vista acknowledge and agree that neither party may retain Heller Erhman White & McAuliffe LLP in relation to the Transaction, however Heller Erhman White & McAuliffe LLP may be retained solely by Coyote Springs 2, LLC for assistance in providing form documents and in seeking appropriate approvals (including those set forth in paragraph 4 of this Proposal) and the Project Company shall be responsible for Heller Ehrman s fees and expenses. Both Mirant and A vista shall retain separate counsel to assist and advise on the Definitive Agreements and the Transaction generally. EXHIBIT G 2003 Integrated Resource Plan Excerpts re Preferred Resource Mix Application of A vista Corporation Case No. AVU-O5- V'STII~ ... ~~r Corp. ':\ Exhibit G Page 1 of 2 The Preferred Resource Mix Based on the conditions and limitations listed above, the LP Module determined a preferred mix of new resources to meet the Company s future requirements. The Preferred Resource Strategy includes the following mix of resources and quantities during the first ten years of the study (2004-2013): 149 aMW of CCCT 25 aMW of wind 197 aMW coal 40 aMW of SCCT By the end of the first ten years, a total of 411 aMW are developed. A depiction of the Preferred Resource Strategy is included in the following graph. Significant annual deficiencies do not develop until 2008, so the chart details only the years 2008 through 2013. ca 300 en 250 :i: Q) 200 ~ 150 c:C 100 Chart 7. Preferred Resource Mix (in aMW) 2008-2013 450 400 0 CCCT . Wind 13 Peakers . Coal 350 2008 2009 2010 2011 2012 2013 After 2013 , only coal is selected as a result of a change in the relationship between natural gas and coal prices. Natural gas prices over the IRP term increase faster than coal, making coal generation less costly in later years. In total, between 2014 and 2023, an additional 566 aMW of coal resources are selected in the Preferred Resource Strategy. Costs of Preferred Resource Strategy Versus "No Additions . , Expected cost over the IRP term has traditionally been the benchmark of least-cost planning; and generally includes capital recovery, operation and maintenance, fuel, and transmission costs. This IRP continues to focus on expected power supply cost on a net present value (NPV) basis. Under No Additions where no resource acquisitions are made, the ten-year NPV of the power Section 7 Page 39 Results Exhibit G Page 2 of 2 EXHIBIT H August/September 2004 Loads and Resources Position Application of A vista Corporation Case No. A VU-05- Avista Utilities Long- Term Energy Load and Resource Tabulation (aMW) 2005-2024 . ". '. ,. . August 13 2004 ';'. , Exhibit H Page 1 of 4 10 0 0 t r 1 ~ ~ (J Q = - .. . . r:: r .. . . So . : : Q Lo n g - Te r m E n e r g y L o a d a n d R e s o u r c e T a b u l a t i o n ( a M W ) CO N F I D E N T I A L La s t U p d a t e d A u g u s t 1 3 , 20 0 4 No t e s ~ . AV E R A G E L O A D & H Y D R O P L A N N I N G 20 0 5 20 0 6 RE Q U I R E M E N T S Sy s t e m L o a d Co n t r a c t O b l i g a t i o n s To t a l R e q u i r e m e n t s (1 , 00 8 ) (1 , 06 9 ) (1 , 04 1 ) (1 , 10 0 ) RE S O U R C E S Co n t r a c t R i g h t s . Hy d r o Ba s e L o a d Th e r m a l s Ga s D i s p a t c h . Un i t s To t a l R e s o u r c e s 23 3 51 1 23 4 15 7 13 6 . 23 6 23 5 13 1 11 3 11 3 . 10 6 50 5 48 1 47 7 46 1 46 0 45 9 23 2 23 6 24 0 23 5 23 4 23 8 16 2 15 7 16 2 15 4 16 2 15 7 13 5 1 , 10 9 1 , 01 0 96 3 97 0 96 1 ~~ . a ' w~ " ta . .'. !1 i J ." " '- ' '.' . . . . . '. "._ ," . v ~ . - .- . ,. . . . . . . . ", . ,, - rJ . l , 't " " , . ,. . ': , O f : ! f k ! ' . 'i ~ ~ ~ t d "" ' f ' . "" " "" " " i~ ~ " "" ' : . " " (. . . ' "" " " ~~ iL _ :~ . ",, - ., . ;;A ~ ; ; : i ; i " . . ~" , . : . ", , _ ;;i ~ - "- - ' . CO N T I N G E N C Y P L A N N I N G Co n f i d e n c e i n t e r v a l WN P - 3 O b l i g a t i o n Pe a k i n g R e s o u r c e s !Z J 2 ~ . r J ~ . , ~~ ~ , ~i ~ l X m 2 ~ ! r t J ll t i 1 1 f l r 20 0 7 20 0 8 20 0 9 20 1 0 20 1 1 20 1 2 20 1 3 20 1 4 (1 , 06 3 ) . ( 1 , 12 2 ) (1 , 09 3 ) (1 , 15 2 ) (1 , 23 7 ) (1 , 2 6 5 ) (5 6 ) (1 , 29 3 ) (1 . 3 2 0 ) (1 , 12 6 ) (1 , 18 5 ) 15 6 ) -. . J f ! ) (1 , 21 3 ) (1 , 18 7 ) -. . J f ! ) (1 , 24 4 ) (1 , 21 2 ) (1 , 26 8 ) No t e s : I. L o a d e s t i m a t e s a r e fr o m t h e 2 0 0 5 l o a d f o r e c a s t ( 0 7 - 27 - 20 0 4 ) i n c l u d i n g t h e f o r e c a s t f o r n e t P o t l a t c h l o a d . 2. I n c l u d e s N i c h o l s P u m p i n g an d C a n a d i a n E n t i t l e m e n t R e t u r n c o n t r a c t s . D o e s no t i n c l u d e W N P - 3 O b l i g a t i o n . 3. A v e r a g e ( 6 0 - ye a r ) h y d r o g e n e r a t i o n f o r s y s t e m h y d r o ( C l a r k F o r k a n d S p o k a n e R i v e r p r o j e c t s ) a n d c o n t r a c t h y d r o ( M i d - Co l u m b i a ) b a s e d o n N W P P 20 0 3 - 04 H e a d w a t e r B e n e f i t s S t u d y , m o d i f i e d f o r d a i l y s p i l l . M i d - C n u m b e r s r e f l e c t t h e P r i e s t R a p i d s a n d W a n a p u m c o n t r a c t e x t e n s i o n s b e g i n n i n g i n 2 0 0 5 . 4. I n c l u d e s sm a U P U R P A c o n t r a c t s , Up r i v e r , E l P a s o 2 0 0 4 - 20 0 6 2 5 M W f l a t , D u k e 2 0 0 4 - 20 0 6 5 0 M W f l a t , M o r g a n S t a n l e y 2 0 0 4 - 20 0 6 2 5 M W f l a t , EI P a s o 2 0 0 7 - 20 1 0 7 5 M W f l a t , B P E n e r g y 2 0 0 7 - 20 1 0 2 5 M W f l a t , G r a n t D i s p l a c e m e n t , P P M W i n d , a n d W N P - 3 R e c e i p t . 5. I n c l u d e s C o l s t r i p a n d K e t t l e F a l l s at fu l l c a o a b i l i t v , a d j u s t e d f o r m a i n t e n a n c e a n d f o r c e d o u t a g e . 6. I n c l u d e s C o y o t e S p r i n g s 2 , Co y o t e S p r i n g s 2 d u c t b u r n e r , B o u l d e r P a r k , a n d K e t t l e Fa U s C T a t fu l l c a p a b i l i t Y , a d j u s t e d f o r m a i n t e n a n c e a n d f o r c e d o u t a g e . 7. T h e c o n f i d e n c e i n t e r v a l re p r e s e n t s t h e 1 2 - m o n t h a v e r a g e o f r e s e r v e e n e r g y n e c e s s a r y t o e n s u r e n o m o r e t h a n a 1 0 p e r c e n t pr o b a b i l i t y o f l o a d s e x c e e d i n g , a n d / o r h y d r o u n d e r p e r f o r m i n g , d u r i n g a g i v e n m o n t h . 8. R e p r e s e n t s h i g h e s t l e v e l of . po t e n t i a l o b l i g a t i o n t o B P A g e n e r a l l y e x e r c i s e d u n d e r l o w h y d r o c o n d i t i o n s . 9. I n c l u d e s N o r t h e a s t a n d Ra t h d r u m a t fu l l c a o a b i l i t v , a d j u s t e d f o r f o r c e d o u t a g e a n d m a i n t e n a n c e . . No r t h e a s t i s l i m i t e d t o 1 , 70 0 h o u r s o f o p e r a t i o n p e r y e a r , . wh i c h h a s b e e n a p p l i e d t o t h e p e r i o d o f h i g h e s t t y p i c a l m a r k e t p r i c e s . :: ' ,( . A vista Utilities Long- Term Peak Load and Resource Tabulation (MW) 2005-2024 , ' September 1, 2004 . O . . Exhibit H Page 3 of 4 Lo n g - Te r m C a p a c i t y L o a d a ~d R e s o u r c e T a b u l a t i o n ( M W ) CO N F I D E N T I A L La s t U p d a t e d S e p t e m b e r I , 2 0 0 4 No t e s 20 0 5 20 0 6 20 0 7 20 0 8 20 0 9 20 1 0 20 1 1 20 1 2 20 1 3 20 1 4 PE A K L O A D A N D R E S O U R C E P L A N N I N G RE Q U I R E M E N T S Sy s t e m L o a d Co n t r a c t s O b l i g a t i o n s To t a l R e q u i r e m e n t s (1 , 54 9 ) (1 7 0 ) (1 , 71 8 ) . (1 , 60 4 ) . (1 6 6 ) (1 , 77 0 ) (1 , 63 7 ) ( 1 , 68 3 ) ( 1 , 72 3 ) (1 6 6 (1 6 6 ) (1 6 1 ) (1 , 80 3 ) ( 1 , 84 9 ) ( 1 , 88 4 ) (1 , 77 9 ) (1 6 1 ) (1 , 94 0 ) (1 , 81 3 ) ( 1 , 86 4 ) ( 1 , 90 3 ) (1 5 9 ) (1 5 9 ) -- - - i l l 2 ) (1 , 97 2 ) ( 2 02 3 ) ( 2 , 06 2 ) (1 , 94 5 ) (1 5 9 (2 , 10 4 ) RE S O U R C E S Co n t r a c t s R i g h t s Hy d r o R e s o u r c e s Ba s e L o a d T h e r m a l s Ga s D i s p a t c h U n i t s Pe a k i n g U n i t s To t a l R e s o u r c e s r1 ; ~ ! ; E Q ~ I J ' J ! i ) l 21 2 21 2 21 5 . 21 5 21 6 21 5 10 8 10 1 09 3 09 3 03 9 03 2 00 1 97 9 99 2 99 1 27 5 27 5 27 5 27 5 27 5 27 5 27 5 27 5 27 5 27 5 17 1 16 6 16 6 17 0 16 6 16 6 17 1 16 6 16 6 17 0 24 3 24 3 24 3 24 3 24 3 24 3 24 3 24 3 24 3 24 3 00 8 99 7 99 2 99 6 93 9 93 2 78 6 76 1 77 4 77 7 II B ~ ) M , ' RE S E R V E P L A N N I N G Pl a n n i n g R e s e r v e M a r g i n ~S E R ~E ~ ~ l l Q S . ~= " ' " o " . , (2 4 5) (2 5 0 ) (2 5 4 ) ~) t . ' f l f ~ ~ ~ ~ ' \ 1 ~f ~ 5 ~ ) "w " " " Jf ~ i i t ~ . , . . . l.. f~ ~ , . "" . . . . , . 1.. No t e s : Al l d a t a b a s e d o n m o n t h l y p e a k d e f i c i t s f r o m p e r i o d N o v e m b e r t h r o u g h Fe b r u a r y . 1. L o a d e s t i m a t e s a r e f r o m t h e 2 0 0 5 p e a k l o a d f o r e c a s t ( 0 7 - 27 - 20 0 4 ) i n c l u d i n g t h e f o r e c a s t f o r n e t P o t l a t c h l o a d . 2. I n c l u d e s N i c h o l s Pu m p i n g , C a n a d i a n E n t i t l e m e n t R e t u r n , a n d ' PG , E C a p a c i t y c o n t r a c t s . 3. ~ e a k h y d r o ge n e r a t i o n f o r s y s t e m h y d r o ( C l a r k F o r k a n d S p o k a n e R i v e r p r o j e c t s , e x c l u d i n g m a i n t e n a n c e ) a n d c o n t r a c t h y d r o ( M i d - Co l W J . 1 b i a , in c l u d i n g m a i n t e n a n c e ) . , . . ; Mi d - C n u m b e r s r e f l e c t t h e P r i e s t R a p i d s a n d W a n a p u m c o n t r a c t e x t e n s i o n s b e g i n n i n g i n 2 0 0 5 . . . . . 4. I n c l u d e s s m a l l PU R P A c o n t r a c t s , U p r i v e r , E l P a s o 2 0 0 4 - 20 0 6 2 5 M W f l a t , D u k e 2 0 0 4 - 20 0 6 5 0 M W f l a t . M o r g a n S t a n l e y 2 0 0 4 - 20 0 6 2 5 M W f l a t , El P a s o 2 0 0 7 - 20 1 0 7 5 M W f l a t , B P E n e r g y 2 0 0 7 - 20 1 0 2 5 M W f l a t , G r a n t D i s p l a c e m e n t , a n d W N P - 3 R e c e i p t . 5. I n c l u d e s C o l s t r i p a n d Ke u l e F a l l s . a d j u s t e d f o r m a i n t e n a n c e . 6. I n c l u d e s 50 % o f C o y o t e S p r i n g s 2 a n d C o y o t e S p r i n g s 2 d u c t b u r n e r . B o u l d e r P a r k . a n d K e U l e F a l l s C T . a d j u s t e d f o r ma i n t e n a n c e . 7. I n c l u d e s N o r t h e a s t a n d Ra t h d r u m . a d j u s t e d f o r m a i n t e n a n c e . . . . . 8. I n c l u d e s 1 0 % o f p e a k lo a d ( t o a p p r o x i m a t e l o a d v a r i a b i l i t y ) a n d 9 0 M W ( t o a p p r o x i m a t e t h e r i s k o f r i v e r f r e e z e - u p a n d p a r t i a l f o r c e d o u t a g e s ) . I- d t ; r : j = ~ (J C = - ~ - . ,& : . . - . f" ' t " S, = = ,& : . . , ( = ~ CI J tD = 2 n = a ~ g ~ ~ I ~ ~ ~ I _ . CI J UI ~ I = ,. . . .. . .. . . . CI l .. . . . CI l . I .. . . . . rI J . rI J . tr j ~ ~ !1 Q : : r .. , . .. , . f" " I o - 0 ~ Value Analysis AURORA was utilized to dispatch 50% of Coyote Springs 2 (including the duct burner) against 20-year sets of fiXed hourly market prices starting in 2005, as described further below. AURORA incorporated the plant s dispatch characteristics (e.g., minimum up time) to simulate hourly operation and ultimately determine the value of the resource versus each set of market pnces. The electric and natural gas prices utilized in AURORA were initially based on monthly forward prices taken from NUCLEUS on April 8, 2004. These prices were shaped hourly based on prices from the 2003 Idaho General Rate Case. The resulting prices matched forward prices on a monthly basis, but retained the hourly shape from the rate case. Electric and natural gas prices were tied directly to NUCLEUS fo~ard prices through 2008, and escalated at 3% thereafter. Numerous price scenarios, representing potential future spark spreads , were then created and used as input prices for individual AURORA runs. Spark spread modifications were implemented through changes to natural gas prices. Ultimately, four scenarios were used to represent likely potential futures. These scenarios are described below: 1. Increasing Spark Spread In this scenario spark spreads increased over time. Electric prices increased at 3% while natural gas prices increased at 2% through the end of the study. This resulted in a gradual increase in the spark spread through 2024. The resulting average spread was 9,453 BTUIkWh, growing from 8,572 in 2005 to 10,346 in 2024. This scenario was designed to reflect a market where electric prices are rising faster than gas prices. 2. Forwards/IRP Spark Spread Spark spreads in this scenario were tied to forward prices through 2008. .After 2008, annual spreads were matched with those from the 200.3 Integrated Resource Plan (IRP). The average spark spread for this scenario was 10,928, growing from 8,165 in 2005 to 12,476 in 2024. This scenario was designed to capture the most expected short and long-term prices. Forward prices were used because they represent the actual prices available for purcha~es in the current forward market. IRP prices were used because the IRP included significant analysis to estimate long-term market conditions. 3. 10,500 Spark Spread In this scenario the annual spark spread was set to 10,500 for the duration of the study. As with the other scenarios, the spread still maintained the monthly shape inherent in the forwards. This scenario was designed to represent a market where a cccr would be marginally cost-effective through the entire duration of the study. 4. IRP Prices Spark spreads in this scenario were taken directly from the 2003 IRP. The resulting average was 12,482 BTUIkWh. This scenario effectively compares the plant against the avoided costs that have been established for PURP A contracts I For the purposes of this document, the term "spark spread" is used to describe the heat rate implied by the relationship between natural gas and electric market prices. The spark spread for a given time period is the electric price divided by the natural gas price muitiplied by 1,000 (e., $45/ $5 * 1000 = 9000 Btu/kWh). Exhibit I Page 2 of 22 The results for each scenario were adjusted by two factors. First, $2 rpillion per year was added as an estimate for the value of the optimization of turbine fuel purchases through "heat rate swaps" (transactions in the forward gas and electric markets to either buy fuel for the plant and sell power or sell fuel from the plant and buy the power, depending on the spark spread). Next, margins generated by the plant during Q2 ,of each year through 2008 were removed to represent a conservative possibility that transmission may be restricted during certain periods in that quarter. Transmission issues are further detailed later in the document. The results for each scenario were input into a revenue requirements model and a marginal benefit value, compared to the breakeven purchase price, was determined. 'Refer to the following table for the detailed results. Table 3 - Detailed Scenario Results ~m~ Scenario 3parkSpread BaseValue . W/OptionValue ~; W/OQ2Tra0s'3 iBtulkWh) ($000) 1 ($/kW) ($000) ($/kW) , ($000) 1 (S/kW) Increasing Spark 9,453 21,322 150 46,144 324 46,159 324 Fbiwa,rds/IRE:Sparki: :: .:::::~::::::?::::::::;::::: :::lO~92S.:::: :: : .: .::: 4:3;:164::::: :::;: ;::: 30:3:;:~: . ;::.::::::;::. Q7~98:p~:: :;::;::::::: ::::A'78::::: :::::::;:::. p7:~9PQ::~: m::;Hm~4A1. &;:;~ 10,500 Spark 10,500 45,633 321 70,455 495 70,471 495 .m::~t::!::;:~::~);::::::l;:;:;~:IRE:::edce~)i: .;H/~:::::: ::: :::k::::12;:482:::::I::::;: 92.~:i:ot: (: :::.?::::: 641E~ ::Y9l:1.p~92~;:;:: ;W~W::ti822::::: :;:;::;llG:~3:a.~~m :m~f~;jm:i~:!~6::1$;~! (1) Value taken directly from AURORA model runs. (2) Includes estimate of $2 million for value of heat rate swaps. (3) Assumes no generation during Q2 through 2008. " , The second scenario, "Forwards/IRP Spark," was determined to be the most expected representation of future market prices because it incorporates the best representations of short- term and long-term market conditions. Forward prices, because they represent actual prices for gas and electricity in the cUrrent forward market, are the best representation of short-term prices. But since forwards are only available for two to three years out, they are not adequate to represent long-term market conditions. The 2003 IRP, on the other hand, incorporated significant analysis utilizing the AURORA model to estimate long-term market conditions. As shown in Table 3 above, the resulting breakeven market value for 50% of Coyote Springs 2 was roughly $68 million. Exhibit I Page 3 of 22 * Note: See CS2 Acquisition of Second Half - 2004 , Book 2, tab labeled Option Value Back-Cast Analysis" (9-24-04) for a description of the option value analysis ' .( .. '. , Exhibit I Page 4 of 22 . . Co y o t e S p r i n g s 2 B a l a n c e o f P l a n t A n a l y s e s Sc e n ar i o He a t A a t e Ba s e V a l u e W/ O ti o n V a l u e W / 0 02 T r a n s (B t u / k W h ) ($ 0 0 0 ) ($ / k W ) ($ 0 0 0 ) ($ / k W ) ($ 0 0 0 ) ($ / k W ) In c r e a s i n g S p a r k 45 3 32 2 .1 5 0 14 4 32 4 15 9 32 4 Fo r w a r d s / l A P S p a r k 92 8 43 , 16 4 30 3 98 6 47 8 96 6 47 8 1 O ~O O S p a r k . 1 9 , 50 0 . 4 5 63 3 32 1 45 5 49 5 70 ~ 4 7 1 49 5 lA P P r i c e s . 1 2 48 2 10 1 64 7 11 6 ~2 3 82 2 11 6 38 5 81 8 Sc e n ar i o De s c r i p t i o n In c r e a s i n g S p a r k Fo r w a r d s ! . 1 A P Sp a r k 50 0 S p a r k AP P r i c e s Sp a r k s p r e a d g r o w s a f t e r f o r w a r d s - e l e c t r i c p r i c e . es c a l a t e s a t 3 0 / 0 , g a s a t 20 / 0 . Sp a r k s p r e a d b a s e d o n f o r w a r d s t h r u 2 0 0 8 , t h e n b ~ s e d o n 2Q 0 3 I RP . Av e r a g e s p a r k s p r e a d h a s b e en i n c r e a s e d t o 1 0 , 50 0 B T U / k W h . El e c t r i c a n d n a t u r a l g a s p r i c e s a r e b a s e d o n 2 0 0 3 RP . * I n c l u d e s c o n s e r v a t i v e e s t i m a t e o f $ 2 M M . f o r va l u e o f h e a t ra t ~ . s w a p s . ** A s s u m e s n o t r a n s m i s s i o n i s a v a i l a b l e d u r i n g 02 t h r o u g h 20 0 8 . (J Q = - .. . . UI C " .. . . f" " I ' - -. t- I 05 - 07 - 20 0 4 JR F tr j = ~ t'D . , . . 0'" 0'1 . , . . Q t * ,- " - . . El e c t r i c a n d N a t u r a l G a s P r i c e s U s e d f o r 50 0 / 0 C 5 2 A n a l y s i s In c r e a s i n g 2 . p a r k Fw d / I R P S p a r k 50 0 S p a r k IR P P r i c e s Ye a r El e c Ga s IH R El e c Ga s IH R El e c Ga s IH R El e c Ga s ll i B 20 0 5 42 . 57 2 42 . 16 5 42 . 45 1 34 . 60 3 20 0 6 42 . 11 9 42 . 60 6 42 . 01 0 36 . 4 2 18 4 20 0 7 42 . 62 9 42 . . 8 06 4 42 . 32 8 38 . 12 4 20 0 8 42 . 65 3 42 . 01 0 42 . 10 , 25 4 42 . 4 1 71 3 20 0 9 43 . 94 4 43 . 4. 4 6 79 5 43 . 49 4 46 . 4. 4 8 33 6 20 1 0 44 . 03 2 44 . 39 4 44 . 10 , 49 8 49 . 10 , 94 6 20 1 . 1 46 . 12 6 46 . 10 , 95 5 46 . 4. 4 1 49 7 52 . 07 0 20 1 2 47 . 21 2 47 . 37 1 47 . 50 0 55 . 81 2 20 1 3 49 . 29 8 49 . 28 9 . 4 9 . 10 , 49 9 57 . 4 8 11 , 74 5 20 1 4 50 . 39 0 50 . 65 4 50 . 49 6 58 ~ 2 9 87 9 20 1 5 52 . 48 4 52 . 4. 4 3 76 8 52 . 50 1 59 . 75 1 20 1 6 53 . 57 7 53 . 4. 5 9 70 2 53 . 50 0 62 . 90 6 20 1 7 55 . 66 6 55 . 91 7 55 . 50 0 64 . 09 1 20 1 8 56 . 75 6 56 . 80 7 56 . 5. 4 3 49 8 64 . 68 5 20 1 9 58 . 85 2 58 . 03 7 58 . 49 9 66 . 11 , 97 1 20 2 0 60 . 95 1 60 . 4 8 12 , 25 8 60 . 4 8 50 2 69 . 12 3 20 2 1 62 . 05 3 62 . 06 0 62 . 10 , 49 9 70 . 89 2 20 2 2 64 . 10 , 14 8 64 . 74 4 64 . 50 1 71 . 2 4 95 5 20 2 3 66 . 6. 4 5 25 0 66 . 47 8 66 . 50 2 75 . 19 3 20 2 4 68 . 34 6 68 . 5. 4 5 47 6 68 . 0 5 6. 4 8 50 0 24 5 . 66 3 CS 2 S c e n a r i o P r i c e s . xl s Ma y 7 , 2 0 0 4 JR F Rate Impacts AD. analysis was performed to determine the rate impacts of the selected scenario at various purchase prices. The table below shows the estimated rate impacts for the breakeven price of $68 million, based upon the "PorwardslIRP Spark" scenario and the purchase price of $62.5 million that was negotiated as a basis for the non-binding letter of intent to purchase the second half ofthe Coyote Springs 2 project. Table 4 - Estimated Rate Impacts 2005 9,849 2.2% 8,847 2.0% . :t2;Q()Q::ii: :i~::~t::::A:\m~$:igl~:t: ,%';UJW~,%:r :;::mW~:i~imt:9:~~'4:$f: /~:::;U:W~~~$tt~~~t2007 9,467 1.9% 8,533 1.8% ~::~ZOQ:$!d :m~~i:~:Wj::t:;QW3:f:i:a:n ~%iW:l;i9%B;. #W!~Wi~fij::a~4p.&~TI:~;(~::~~::~m~~4~t%ji:.2009 3,582 0.7% 2,715 20:tPY:: :~M:~~~~~fimt~47()::6 ::::m:m~)3:~/::m!~:jM~!:n~~~::::()35.':~:M~~jNj~():i~f(fl~:r~12011 (587) -1% (1,391) -2% !~:~Q$i2.m: %df:m;~t(2;AQ4)m!: Hm;::~o;4?r4~::. :mj:;~i;::m~~;~llQ):m; :::~:!~~::im:BQt$$.:)J;, , 2013 (2 860) -5% (3,605) - Jt~;~Q:t4W~: i~!~1Wjt~:(~~5$~~:~~WMQ17i%.~: ~~~j~:;!~fj::~($j;~!"Plt~~ ~n~~;m;%MQ;:al't.~t~ I 2015 (5,647) -8% (6,334) -1.0% jj:;i~():XiQ~f ii51il~~W~'€)t$Q41% ~r!;~~Q~~q~~1, :;i*m~J~!lli:tq~~:()g);~~: Will~~~~~~:~Plr4~2017 (7 644) -1.1% (8,273) -1.1% ~\ifj~p:Ji;a::m ~~illWm~;1~($.~X$:lDjlli: ;~\~#:l~~li%'~.:l :~*;~lfWJfTh:6$!~7:$~1~mi!~$t%~'2019 (9,655) -1.2% ,(10,226) -1.3% ;i~i~Q~()j:;j ;illiit~~Wf~;)$!~2.$i$J1~ iif;l;tJ:;f1?r.~1'i' 4mfj%~i~~,:~t;q:$QJlj~: m~M;mm*:~i1:~$;o/.~~~2021 (11,466) -1.4% (11,979) -1.4% . m::;~Q~~::;/n::~::::(lih3$4:)~!::: ~:;~:,:Rl;::3:;o/q:m :~WiiimW.(:~!;~i;$~:alf!;::j~;~~i~~~:::~~~j;~:~4~t 2023 (14 595) -1.6% (15,050) -1.7% ::j;2Q2.4::: :C:::t'~(l5\63;6Yi: mim:.~l'ili6J~J::: ::;:::jj; :::;:: (t6';Q62):::::;:::;~:m::i:~fJ;W7::%J~:" Exhibit I Page 7 of 22 Ye a r 20 0 5 20 0 6 20 0 7 20 0 8 20 0 9 20 1 0 20 1 1 20 1 2 20 1 3 20 1 4 1 20 1 5 20 1 6 20 1 7 01 8 20 1 9 20 2 0 20 2 1 20 2 2 20 2 3 20 2 4 20 Ye a r s Ye a r s . SM M ($ 4 3 9 / k W ) $S 3 M M ( $ 3 7 5 / k W ) $7 1 M M ( $ 5 0 0 / k W ) $1 0 7 M M ( $ 7 5 0 / k W ) .( $ 0 0 0 1 Jp e r c e n t . l Jp e r c e n t l 1$ 0 0 0 ) Jp e r c e n t . l 1$ 0 0 0 1 Jp e r c e n t l 84 7 17 1 60 / 0 10 , 4 3 1 30 / 0 16 , 95 0 80 / 0 24 8 62 5 1 . 20 / 0 78 1 90 / 0 09 3 20 / 0 53 3 . 80 / 0 97 0 1. A % 01 0 1 % 09 1 30 / 0 46 8 . 1 . 7 0 96 1 10 4 0 / 0 89 0 00 / 0 15 , 74 8 71 $ 50 / 0 26 4 20 / 0 08 6 80 / 0 72 9 1 . 80 / 0 63 5 1 % . ( 7 6 3 ) 1 % ; 95 5 00 4 0 39 1 30 / 0 39 1 ) 20 / 0 73 7 ) (1 1 9 ) 11 6 90 / 0 17 9 ) 50 / 0 (4 , 4 7 5 ) -0 . 80 / 0 95 5 ) 30 / 0 08 7 60 5 ) . 85 3 ) 80 / 0 (2 , 4 2 7 ) 0 0 4 0 / 0 2, 4 2 4 00 4 0 / 0 27 6 ) 80 / 0 (6 , 4 7 4 ) 1. 0 0 14 3 ) 60 / 0 51 8 1 % 33 4 ) (7 , 4 8 4 ) 1. 1 0 / 0 24 8 ) 80 / 0 (7 7 5 ) -0 . 1 % 96 2 ) 00 / 0 06 4 ) 1. 2 0 92 2 ) 63 9 ) 20 / 0 27 3 ) 1. 1 0 / 0 32 6 ) 1 . 30 / 0 27 9 ) 00 / 0 18 5 ) 00 4 0 75 1 ) 1. 2 0 / 0 75 5 ) 1 . 30 / 0 . ( 7 80 3 ) 00 / 0 89 8 ) 50 / 0 . ( 1 0 , 22 6 ) (1 1 18 1 ) 1. 4 0 / 0 (9 , 32 3 ) 20 / 0 60 8 ) 70 / 0 (1 1 78 0 ) 50 / 0 (1 2 68 7 ) 1. 6 0 / 0 (1 0 92 3 ) 30 / 0 39 6 ) (1 1 97 9 ) . -1 0 4 0 / 0 (1 2 83 8 ) 1 . (1 1 16 9 ) 1 . 30 / 0 83 0 ) 90 / 0 (1 1 83 8 ) 40 / 0 (1 2 64 7 ) 1. 4 0 / 0 . ( 1 1 07 3 ) 1 . 92 3 ) 0~ 9 0 / 0 (1 5 05 0 ) -1 . 70 / 0 (1 5 81 2 ) 70 / 0 (1 4 33 1 ) -1 . 6 0 / 0 (1 1 37 0 ) 1. 2 0 / 0 (1 6 06 2 ) :1 . 70 / 0 (1 6 77 5 ) 1 . 80 / 0 (1 5 38 8 ) 60 / 0 . ( 1 2 61 5 ) 1 . 30 / 0 Ne t P r e s e n t V a l u e s (2 0 11 3 ) 46 1 53 , 60 9 85 5 99 7 59 , 28 2 NO T E S : 1) I n c l u d e s c o n s e r v a t i v e e s i i m a t e o f $ 2 M M f o r v a l u e o f h e a t r a t e s w a p s . 2) A s s u m e s n o t r a n s m i s s i o n I s a v a i l a b l e d u r i n g Q 2 t h r o u g h 2 0 0 8 . . . 3) A s s u m e s $ 4 5 0 M M b a s e re v e n u e r e q u i r e m e n t , e s c F i l a t i n g C; W 10 pe r y e a r . 4) S p a r k s p r e a d s b a s e d o n f o r w a r d p r i c e s t h r o u g h 2 0 0 8 , l A P p r i c e s t h e r e a f t e r . (J C I = - (D _ . co C'"- . f" " I - .. . . . 05 - 18 - 20 0 4 JR F . A V I S T IN I c A N A L D R A F T 50 0 / 0 of Co y o t e S p r i n g s 2 ( C C C T . an d D u c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l As s u m p t i o n s Ii n s t a l l e d C o s t 50 0 20 0 4 $ O O O s Fix e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a n c e C o s t In s t a l l e d C o s t 43 9 20 0 4 $ / k W Fix e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t Pr o j e c t C a p a c i t y . 14 2 . Es c a l a l i o n R a t e s Ge n e r a l l n f J a t i o n He a t R a t e 44 4 Bt u / k W h Ax e d O & M pe r c e n t Op t i o n V a l u e Ga s U s a g e R a t e 25 . op o s d t h f d a y Tr a n s p o r t a t i o n pe r c e n t . 1 8 7 . 50 2 0 0 4 $ 0 0 0 5 00 2 0 0 4 $I d t h f d a y 0 p e r c e n t 00 0 2 0 0 4 $ 0 0 0 5 No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Ye a r 20 0 5 20 0 6 20 0 7 20 0 8 20 0 9 6 2 0 1 0 7 2 0 1 1 8 2 0 1 2 9 2 0 1 3 10 2 0 1 4 11 2 0 1 5 12 2 0 1 6 13 2 0 1 7 14 2 0 1 8 15 2 n 1 9 16 2 0 2 0 17 2 0 2 1 18 2 0 2 2 20 2 3 20 2 0 2 4 En e r a v (G W h ) 71 4 . 72 3 . 68 9 . 69 0 . ~0 9 . 88 0 . 92 9 : 1 94 4 . 94 1 . 94 6 . 94 7 . 94 9 . 94 8 . 94 7 . 94 9 ; 95 4 . 94 9 . 4 94 6 . 95 1 - 95 4 . Fi x e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l F i x e d Op e r a t i n g Op t i o n Ne t To t a t P r o j e c t Pr o i e c t Fix e d C h r To t a l os t Fi x e d Gt r a n s Pr T a x In s u r . To t a l C o s t s Co s t s Ma r a i n Va l u e Pr o ec t B e n e f i t ot a l V a ia b l e C o s t Co s t s ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ O O O s ) ($ 0 0 0 s ) ($ O O O s ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 5 ) ($ / M W h ) ($ 0 0 0 5 ) ($ I M W h ) t 1 , 9~ 6 0 . 1i 9 ~ ~ . : : 1 6 . : : . . : ~\ ' :: ' ' : . :: ; - 0 . t ' ::: :i t : ~ ~ ~ t ; ? 1 ~ ' ) : ; : J ~ ~ ( . : :. : r i ~ a ? ~ i t t ( J ( $ ; : ~t i J ? t : I ? t t t P ~ M : ~ : ; ~ : . ): : : ~ ~ 1 ~ t ) : r t ) ; p ~ ~ f : : . :: : : : :: t ~ ; ~ 4 . 7 ) / . :: ' :: t j ~ I 4 j : : : ; C : : ~ A 7 ~ ~ ) / l ~ : ~ ) 4 Q . !~ ' ::? f V . : t : ' ~; . ~? 2 : . :: . :.: : :: )) 2 : 8 . 11 , 54 4 0 1 1 . 54 4 1 6 . . ~ ! 17 ~ . . . . . . . . ~. ." " ~ ~ ~ . . . . . . . . . J. ~ ~ . . . . . . . ~'. ' . " " " " ' ~" " ' i" ' " ' ~~ ! !~ ~ " . . . . 3~ ~ . . . . ? ~ ?? . . . . .F ! ~~ ~ L . . . . C? . o. ) . . . . . . ?! ! ~~ ~ . . . .. . . . . . . . ?. . . . . . ~~ , 3~ 1 .. . , . . fj 9 17 8 . . . 1 . :: 1 6 . ~ :: : : : : : : : : :~ , ~~ ~ : : ; ~ : ' : : : : t \ : : ::: : / Q : ci i \ ) t : : 1 , ~ . ~: ~ ~ l i : d : ~ ~ q ~ f . l : : I A ~ ~ ~ ; t D ~ : ~ ~ t ~ ~ ~ ~ i j ' ; : ~ : ; : ~ : : ~ ~ ~ ' ; ; : ' ; i M : ~; A A 1 \ ' ~:~ : : ~ \ : 4 ; 7 . ?? : t \ : / : ?; i . ~5 : ::: . :: : : ( ~ ; :3 ~ ) : : f : : : ; ; ) : ~A ) : : : ) ~ n ~ 7 . ;~ 1 : 7 : : : : ! t t : ~ ~ r ~ Q . ;~ \ & M : : : ~ ; ! ~ :3 ; ~~ a : : : ; : . :: : : : :: ' :;I i ! ~ ; ~ : ~ : : ; : ~. :ij ; ~ ~ : . . ' : ~ : ~ ; ; g1 ~ ; ~ ; l % W i n ~ wM w J i j i \ \ J * $ ~ i % t t ~ j ; r ; 4 ? ' k ~ j ~ ' $ J i i \ t i ~ : ~ ; i ; & t ; ~ ~ ~ 5 W 1 ~ ; l i ~ ; . yI ~ : i f : : 1 $ 3 i j ~ j ~ j g~ ~ j 4 ; m t $ i \ * i ; t W t m M ; T h ~ l t 5 ; : ~ : ; . 22 5 . 0 1 0 ~2 ~ . . . ~ . ~. . . . . . . . . . 56 ~ . . . . . . . . . . ~. . . . +.. . . ..7 0 ,. . . . ~~ ~ . . . . . ... _ 4~ ? . . w" " ~,. . ... . . . +.. . ,. . . 1~ , ?~ ~ .. . '" . 6~ ~ . .. . . . ~ ' ' . J6 3 ~ . ~~ : . ! ) . 8.~ ~ , ," . , .. . . ~3 . . . .. . 6~ 6 , 5 0 . a5 1 . . : ' . \ ~ , ~p t ' . :. . . . : .' l Q ; 7 r : r : ::: : : ; :3 , ~ i j 7 . ~:: : : ~ : : t ) ~ : f: ' \:: O : ::: t ; : : H t J i . 7 : J t : : ~ h : : n ~ ~ : 1: J : : ~ ~ t : : 4 ~ 2 - ~ t t : : ~~ ~ A : & f J ~ !; H ~ ; : : ; ~ ! ; ~ f t : : J : 4 ~ ~ ~ ? : : : ' :? : J ~ A a ~ . : : : : : : : :; ~A ~ 9 / ::: : : ; :: : : : h~ a . r \ / : : : ; t : . 1.: ~ : :: : ' ~ : : . ~9 . ': : : : \ : : ' :~ ~ : ; ~ : : . :: : : ) : . :: : : : - ' 4~ " 4 p a : .. !l 8 , 65 6 0 9 65 6 1 0 . 2 3 , 78 5 64 6 23 8 4 66 9 4 . 9 1 4 32 5 1 4 97 1 . 2 53 4 3 17 9 3. 4 3 1 32 4 3 3 . 2 4 5 , 64 9 4 8 . 10 3 0 9 10 3 9 . 6 4 01 5 58 7 25 2 4 85 5 5 . 1 1 3 95 8 1 6 54 6 2 68 8 . 5 27 6 5 . 6 3 2 54 9 34 . 4 4 6 50 6 4 9 . .~ ~ ~ 3 ? ' : . 0 . . . : . 83 2 . : : : : . ;:: : :: 9 ; 3 . ; .::: j: ; t f K 1 : ~ ~ : ~ r ~ : q ~ \ ) j ~ : 'Q : P t J t ~ $ ~ M t f \ ~ ~ p : : I : M f 4 f Q ~ ! f g \ ~ ) K M ~ m H l l ~ J ~ / i ~ ~ : ~ : . Jr n i ~ ~ ~ l ' :/ J \ . ~~ ; j ~ ~ ' : : : : : ; ( ; : ~~ i l r ~ : I : 4 r : : ~ j j : . ::J f : ~ ~ ' :? i 4 : t i m r : ~ : $ j m r r ; t w i ~ Q ~ ~ : : t : ; : ; r : ~~ . 1; . 58 7 0 8 58 7 9 . 0 4 26 0 O . 5 2 9 26 7 5 05 6 5 . 3 1 3 64 3 . 1 7 , 75 4 2 85 2 6 96 2 7 . 3 3 4 52 2 . 3 6 . 4 4 8 16 4 5 0 . 05 9 0 8 05 9 8 . 5 4 51 9 0 4 7 0 ' 2 8 4 5 27 3 5 . 6 1 3 33 2 1 9 05 8 3 02 5 8 75 1 9 . 2 3 6 24 0 3 8 . 3 4 9 57 3 5 2 . 7 ; 7 6 0 ': j ~ -; ~ q : : :: . . ., Q , ?': : ::: : ; ' : /: : : ~; ~ $ ~ ; : ; t r t ) : : :r O \ ~ : : : t: ? : h # f : : j F # t ? ~ g ~ N ) t M ~ ~ ~ f % H f t ~ ~ ~ M r . ~ t t , J ~ ~ t ~ ~ : : ?m t ? ' Q ~ ? l Q ? W r : ; : : ~ ; j : 1 ~ : : :; : . . /\ j : Q ; . ?g ~ ~ : I ) r ) ( 1 : Q ~ Q : : : :r l : : ~ ~ i ~ t i j t : I \ I ~ i j ; Q W ~ T M ) ~ : ~ ; : ~~ . : ~r ::: : ' $~ . :: 6 . : 51 0 0 7 51 0 7 . 9 4 79 5 41 1 30 1 5 , 50 7 5 . 8 1 3 01 7 2 1 58 7 3 20 9 1 1 78 0 1 2 . 3 3 7 48 8 3 9 . 3 5 0 50 4 5 2 . 06 9 0 7 06 9 7 . 5 5 08 7 35 2 31 9 5 , 75 8 6 . 1 1 2 , 82 8 2 1 26 1 3 40 5 1 1 83 8 1 2 . 5 4 0 98 9 4 3 . 3 5 3 81 7 5 6 . 48 9 0 6 48 9 6 . 8 5 , 39 6 29 4 33 9 02 9 ' 1 2 51 8 . 2 4 96 7 3 61 2 1 6 06 2 1 6 . 8 4 1 55 2 4 3 . 5 5 4 07 0 5 6 . Ne t P r e s e n t V a l u e 9 4 37 1 No m i n a l L e v e l i z e d C o s t ( $ / M W h ) Re a l L e v e l i z e d C o s l ( $ / M W h ) tf j = ~ (J Q = - ~ - . \0 9'" . f" ' I ' - Q ~ 37 1 08 3 25 6 32 7 66 6 14 0 03 7 12 2 77 7 82 2 56 1 30 7 19 2 44 7 23 0 11 . 35 . 28 . 52 . 42 . 02 A u r o r a R e s u l t s ( I R P t H R a f t e r 0 8 ) . xl s I'l l : ~ n . . . n n . ,r i . - - - "" d t r 1 = ~ (J Q = - (D - . ~ s : = ' * Q ~ .. . . , -., yo t e Sp r i n g s 2 Ra t e I m p ac t s $3 6 M M ( $ 2 ~ O / k W ) $5 3 M M ( $ 3 7 5 / k W ) $7 1 M M ($ 5 0 0 / k W ) $1 0 7 M M ($ 7 5 0 / k W ) Ye a r fi Q Q Q l Ip e r c e n t l fi Q Q Q l fp e r c e n t . l fi Q Q Q l !p e r c e n t l fi Q Q Q l Jp e r c e n t l 20 0 5 91 1 17 1 1 . 60 / 0 , 1 0 , 4 3 1 30 / 0 95 0 80 / 0 20 0 6 2, 4 6 9 50 / 0 62 5 1 . 78 1 1 . 09 3 20 / 0 20 0 7 92 9 80 / 0 97 0 1. 4 0 / 0 . 01 0 1 % 16 , 09 1 30 / 0 20 0 8 03 3 96 1 1. 4 0 / 0 89 0 00 / 0 74 8 20 0 9 (1 , 55 7 ) 30 / 0 26 4 20 / 0 08 6 80 / 0 72 9 80 / 0 . 20 1 0 (3 , 4 8 1 ) 60 / 0 (7 6 3 ) 95 5 0. 4 0 / 0 39 1 1 . 30 / 0 20 1 1 35 5 ) -0 . 73 7 ) -0 . 50 / 0 (1 1 9 ) 00 / 0 . 11 6 90 / 0 20 1 2 99 6 ) 1. 2 0 / 0 (4 , 4 7 5 ) 80 / 0 95 5 ) -0 . 30 / 0 08 7 50 / 0 - 2 0 1 3 27 8 ) -1 . 85 3 ) 80 / 0 (2 , 4 2 7 ) 0. 4 % 2, 4 2 4 0. 4 0 / 0 .. 20 1 4 80 5 ) 1. 4 0 / 0 (6 , 4 7 4 ) 00 / 0 14 3 ) 60 / 0 51 8 1 % 20 1 5 72 0 ) -1 . 50 / 0 (7 , 4 8 4 ) -1 . 1 0 24 8 ) 80 / 0 (7 7 5 ) 1 % 20 1 6 (1 0 20 5 ) 1 . 50 / 0 06 4 ) 1 . 20 / 0 (5 , 92 2 ) 63 9 ) 20 / 0 20 1 7 (1 1 37 3 ) 1 . 60 / 0 (9 , 32 6 ) -1 . 30 / 0 27 9 ) -1 . 0 0 / 0 18 5 ) 0. 4 % 20 1 8 (1 1 70 7 ) 1 . 60 / 0 75 5 ) -1 . 80 3 ) 1 ~ O O / O 89 8 ) 50 / 0 . -2 0 1 9 (1 3 03 9 ) -1 . 70 / 0 (1 1 81 ) 1. 4 0 / 0 32 3 ) 1 . 60 8 ) -0 . 70 / 0 20 2 0 (1 4 , 4 5 0 ) -1 . 8 0 / 0 ' ( 1 2 68 7 ) 60 / 0 (1 0 92 3 ) 39 6 ) 90 / 0 20 2 1 (1 4 50 7 ) 70 / 0 (1 2 83 8 ) 1. 5 0 / 0 (1 1 16 9 ) 1 . 83 0 ) 90 / 0 20 2 2 (1 4 22 2 ) . (1 2 64 7 ) -1 . 4 0 / 0 (1 1 07 3 ) 1. 3 0 / 0 92 3 ) 90 / 0 20 2 3 (1 7 29 3 ) 90 / 0 (1 5 81 2 ) 70 / 0 (1 4 33 1 ) 1 . 60 / 0 (1 1 37 0 ) 1. 2 0 / 0 20 2 4 (1 8 16 1 ) 1. 9 0 / 0 (1 6 , 7 7 5 ) 80 / 0 (1 5 , 38 8 ) -1 . (1 2 61 5 ) Ne t P r e s e n t V a l u e s 20 Y e a r s (4 4 , 68 6 ) (2 0 11 3 ) 46 1 60 9 Ye a r s 71 3 85 5 99 7 28 2 NO T E S : 1) I n c l u d e s c o n s e r v a t i v e e s t i m a t e o f $ 2 M M f o r v a l u e o f h e a t r a t e s w a p s . 2) A s s u m e s n o t r a n s m i s s i o n i s a v a i l a b l e d u r i n g 0 2 t h r o u g h 2 0 0 8 . 3) A s s u m e s $ 4 5 0 M M b a s e r e v e n u e r e qu i r e m e n t , e s c a l a t i n g (g ) 40 / 0 pe r y e a r . 4) S p a r k s p r ~ a d s b a s e d o n f o r w a r d p r i c e s t h r o u g h 2 0 0 8 , l A P p r i c e s t h e r e a f t e r . 04 - 28 - 20 0 4 JR F . AV I 5 T ' . ' R A F T 50 0 / 0 ' of C o y o t e S p r i n g s 2 ( C C C T a n d D u c t Bu r n e r ) Ec o n o m i c A n a l y s i s D e t a i l As s u m p t i o n s In s t a l l e d C o s t 57 0 20 0 4 $ O o o s Fi x e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a n c e C o s t 10 6 . 71 2 0 0 4 $ o o O s In s t a l l e d C o s t 25 0 20 0 4 $ I k W Fi x e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t 00 2 0 0 4 $I d t h l d a y Pr o j e c t C a p a c i t y 14 2 . Es c a l a t i o n R a t e s Ge n e r a l I n f l a t i o n 0 p e r c e n t He a t R a t e 44 4 Bt u l k W h Fi x e d O & M 0 p e r c e n t Op t i o n V a l u e 00 0 2 0 0 4 $ o o o s Ga s U s a g e R a t e 25 . OO O s d t h l d a y Tr a n s p o r t a t i o n 0 p e r c e n t No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Ye a r 1 2 0 0 5 2 2 0 0 6 20 0 7 4 2 0 0 8 5 2 0 0 9 6 2 0 1 0 20 1 1 : 8 2 0 1 2 9 2 0 1 3 : 10 2 0 1 4 11 2 0 1 5 : 12 2 0 1 6 13 2 0 1 7 14 2 0 1 8 15 : . 20 1 9 16 2 0 2 0 17 : 2 0 2 f 18 2 0 2 2 19 : 20 2 3 : ::' 20 2 0 2 4 Fi x e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l F i x e d . Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r o v Pr o i e c t F ix e d C h To t a l C o s t s Fi x e d Gt r a n s Pr T a x In s u r . To t a l C o s t s Co s t s Ma r o i n Va l u e Pr o ec t B e n e f i t To t a l V a r i a b l e C o s t Co s t s (G W h ) ($ 0 0 0 5 ) ($ O O O S ) ($ 0 0 0 5 ) ($ / M W h ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 s ) ($ / M W h ) ($ 0 0 0 5 ) ($ l M W h ) : 7 . 1 4, 2 : :: : . :: : , : : : : : : : : ' 1 j 4 ~ O ~ : : : : : : : ::: : : i i : ; : : . : , ::~ : : ill : : : : ; ( ) : : ; : : : : : :: t~ 4 5 t t : :;W : f : . : : l j . ( f ~ : : : ; : ~~ r r : i ~~ ~ Q!~ ; : ~ I ~ t l K : % ~ i r 0 ; ~ t ~ l * i : M~ : ~ ~ ~ 1 f f? ~ \ 1 J : 9 ' f ~ i t i l ~ : ~ ? g ~ ~ ~ ~ 1 ~ ~ J I B . al~ ~ ! ~ ~ ~ ~ i f I j . ~1 : 2 ~ : ~ ~ ~ ~ ~ ~ t r M 1 $ 1 VJ i $ ; ? ~ p $ ( t m : . m K (~ : ~ j J ) : : ; ~ : ~ : d f a ~ ; $ ) ; g i ~ m ; ?~ ; ? i j ~ ; m r & ~ ~ i : M ~ ~:; : J i l i ~ f u 1 ~ : ~ ~ ; ~ ~ ~ j ~ f i i f ~ E ~ ~ ; ij : : 72 3 . 5 7 , 20 5 0 7 20 5 1 0 . 0 3 17 0 46 8 11 3 3 , 75 1 5 . 2 1 0 , 95 6 6 , 36 5 2 , 12 2 ( 2 46 9 ) ( 3 . 4) 2 7 60 6 3 8 . 2 3 8 56 3 5 3 . 68 9 . 3 . . : : : . '1 ; ~O t ( : ; : : : : : : : : ' : : : : : : : : ;:: : : :;: ~:: : : : : Q : : : : : : : . ::: ::; . tq Q 4 : : r ~ ': :i: : : : : : : : ; 1. Q ~ ' : : i : ; : : t : : ,: ~ ~ : ; ~ ~ $ : : j i ~ ~ W : r : (: 9 : N : M ~ K ~ 4M ~ ~ ~ % ~ f & J ' J ' t : . 1 r ( r ~ j ~ J ~ : ; ~ ~ ~ \ l ~ m ~ r ~ ~ ~ f c l ~ . ~t f l ~ ~ ~ ~ n Q ; ~~ t : 1 ~ ~ ~ i & J A 1 ? ? ( ~ j t ;: I t ? ; j . ~$ : : ' : . . m;! ' t t ~ ~ : ~ g~ r : ' j 2 m ? : l $ : 1 ) : : : W : ~ ~ ; a: t 1 J ~ ~ t ~ ~ N ( j ; ~ F 8 ~ ~ i M : ~ ~ ~7 : t4 ~ : i ~ ~ % i ~ t $ I t . ~:: 88 0 . 9 6 , 50 9 0 6 50 9 7 . 4 3 , 56 8 0 4 0 1 . 1 2 7 4 , 09 6 4 . 6 1 0 , 60 6 1 1 69 9 2 , 38 8 3 , 48 1 4 . 0 2 9 88 5 3 3 . 9 4 0 , 49 0 4 6 . . . : : 9 . ~9 . 7: . :: : : : :: : 6 ; ~1 t \ i : : X : :: ~ : : : : : : : : : : : : ; : : ? : 9 : , : : t : ; ; : : : ~ ~? t % ~ i l i : ~ : y: : $ ~ ~; : ~ ~ : ' ? H ~ ; ~ ? $; ! : ~ ~ W J : ~ ~ 1 t i : P : j~ W : ~ W l : ? ~ l f , ~ $ i ~ ~ f $ ) ; l l i ! r W ~ J 4 : ; 1 ~9 l i ~ W ~ ~ l ~ ~ ; ~ t ; l i l l ~ l q p ~ $ ~ ~ ~ i ~ J d 3 iM ~ U i l l ~ Y i ~ ~ : M g : i l l ; : ::~ : ~ : $ ~ ~ $ $ : \ 1 f , 1 f l ~ ~ t : ; : $ ~ ~ : :: ~ j i J ~ 9 ~ ~ ~~ : ~ ~ J ~ : ~ ~ l ~;l g ~ ~ 1 ~ J ~ ~ ' : ~ $ , Q4 m a $ ~ ~ : ~ , t t : ; ~' . 94 4 . 7 6 , 22 0 0 6 , 22 0 6 . 6 3 78 5 36 8 13 5 4 28 8 4 . 5 1 0 , 50 8 1 4 97 1 2 , 53 4 6 99 6 7 . 4 3 1 32 4 3 3 . 2 4 1 83 2 4 4 . 94 1 . : 4 : . .: : . 6 ~ p~ 7 . ::: : : : : : : : : :: : : :: ~: : : : :i: : : : ::: . : : : : : : g; ~ J j ~ t . : m% : : lE i : ~ ; ~ : : / : M ; : : : : ~ : ; ~ ~ ~ ~ : ~ ~ 1 r g i ~ Y f 1 ~ ~ ~ C p : : g : i ~ ~ ~ f : t J ~ ~ K ~ f r s 1 1 1 W J ~ ~ ~ # ~ 1 ~ ; f f i 8 ~ ~ , ~' i ~ r i ~ A ~ ? i I i ' ; Z J . : l l q ~ 4 P , ~ : : i l l ~ \ t ~ ; ~ . Ml r r ; : g ~ ; ~ 1 : 9 ; ~: . ~~ E ~ ? t i 2 i ~ ~ i ~ M ; : i l l ; l ~ t 7 V t : : : m L ~ . ~1 ~ I ~ ~ 0 ; ~ r l i ~ ~ h ~ ~ 7 J ~ ~ l i ~ . ? ; : a ~ ~ i a 1 ~ ~ I 4 5/ ~ : : 94 6 . 3 5 , 93 5 0 5 , 93 5 6 . 3 4 , 01 5 33 4 14 3 4, 4 9 3 4 . 7 1 0 , 42 8 1 6 , 54 6 2 68 8 8 , 80 5 . 9 . 3 3 2 54 9 3 4 . 4 4 2 , 97 7 45 . 4 . : . . ~4 1 ; 1 : . ::: : : : : : . ': : : 1 ) ~~ : ' : '; : : : : : ; : : ; : ' 0 :: :: : / : : r : ~ : ~o ; : tn ~ : ~ : ~ ; 1 ~ ~ .:~ n ~ t : t ~ ' : ' : 1 : : ~ ; ; ;: m m : j ' ~ : J ~~ : ~ t i l l ~ ~ : t ~ ~ : 9 ; ~ f \ ~ ~ ~ ; ~ . j ~f i ~ ~ ~ ~ ~ ~ l ~ f f : ~ : ~ i I ~ t ~ 9 : 1 ~ $ t 4 m ~ ) H t , ~ ~ z ~ ~ ~ m 1 J ; ) : ~O O 1 . ~ m ~ i l i ~ l ; ~ ~ v ; m i l l ; ~ ~ ~ g ; t i j ~ : : ; : :B : K ~ ~ t ? Q g ~ ; : m l M r i t ~ : ~ : : : ~ : ; W ~ ~ ; g t 4 ~ 1 J J i ~ m ; ~ . $: ; : E ~ f ~ ~ ~ " ~~ i ~ ~ ;~ t ~j; ~ ? J ~ ~ ! i . $L i ; ; : 94 9 . 0 5 68 7 0 5 , 68 7 6 . 0 4 , 26 0 30 1 15 2 4 , 71 3 5 . 0 1 0 40 0 1 7 75 4 2 85 2 1 0 , 20 5 1 0 . 8 3 4 52 2 36 . 4 4 4 , 92 2 4 7 . . : : ': : :9 4 8 : 6 . : ::: : : : : : : : : : &:; $~ 6 : : : \:. : ::: \/; t? i : t t : : ~ : : /l: f f i M ; M . ~ t M m : m m $ ; ~ : : m~ 1 ~ ~ j ~ 4 i ~ ~ ~ 1 ~ i l ! ~ : : t t 9 : g ~ ~ & 1 ~ : g M ~ * W i : ~ ~ J ~ j J ~ ~ l t J f A ; , ~g ~ t ~ ~ i ~ ~ 1 ~ ~ ~ ~ ( t ~ ~ 1 ! ~~ M ~ ~ ~ ~ 1 ~ ; ~ 9 W(~ ~ I ~ r ~ r ~ ~ ? J : ~ : : :r ~ r ~ ~ f~ ~ i ~ l : ~ ~ J ! i n g : ; p i :: ; * E ~ 4 ' ~ 4 ? ; w . 4 1 ~ ~ ~ ~ ~ ; ~ i * f ~ J M ~ M I T ~ ~ ~ r i ~ ~ ~ 4 1 : : . 94 7 . 5, 4 2 8 0 5 42 8 5 . 7 4 , 51 9 26 7 16 1 4 94 8 5 . 2 1 0 37 6 1 9 05 8 02 5 1 1 70 7 12 . 4 3 6 24 0 3 8 . 3 4 6 61 7 4 9 . :9 4 9 : 1 ': : : : : :: : ::: :;: : . 2 a : t : : : : : ; : : i , : ; : ::: : ::: : :: ::: ;: : : : : ; : 9 : ~m ~ $ ; ' ~~ 3 a m f u : : n ; : :~ ~ Wg : m ~ g : ~ ; ~ M ~ ;~ z ~ ~ i l i ~ ~ f ~ W f l ~ ; ~ ~ ~ \ : g $ J i : ~ m t . ~ J ~ i 1 ~ , ~~ r ~ ~ Z ~ ; ' Pi: ~ f i i ~ i i ~ 1 ~~ ~ ; & ~ ! i l ~ 1 q i ~ ~ $ ~ ~ ~ g , P ' ; ~1 ~ ~ m ( J ) ~ i l ~ . m~ : : :m ~ ~ ~; 9 . ~ 9 ::: 1 i ~ f f i ~ ~ ~ : ; 1: ~ : ~ ~ : : m ~ ~ ~ ~$ in ~~ ~ i f i ~ ~ ~ ; ~J ~ t i ~ 1 ~ I & I 4 t . ~ j: ~ l m ~ ~ t ~ ~ : 4 9 ) t : ' 95 4 . 0 5 14 7 0 5 , 14 7 5 . 4 4 79 5 23 4 17 1 5 , 20 0 5 . 5 1 0 34 7 2 1 , 58 7 3 , 20 9 1 4 45 0 1 5 . 1 3 7 48 8 3 9 . 3 4 7 83 4 5 0 . ::: . 9 4 g ; 4 : : : :'; : : . : : : : : : : : : 5 ; 0 4 n r : : n :~ m ~ : H;i : : \ ~ , ct : : : j ~ : ~: m : ~ ; 9 1 t( ~ i l i ; ~ m 1 $ ~: & % t M ; ~ ~ ~ , M~ t ~ 1 ~ : q ~ M ; W J : 1 J 1 ~ 1 :l i ~ i i q ~ 1 j ; t ~ m t ~ ~ ~ ~ ?I ! I W B l ~ h ~ ~ i f t ~; ~ ~ g ~ ; i i l l i ? J ; ~ ~ ~~ I D ! J ~ % i E ; ~ ~~ Q ~ 2 ::1 l l i \ ) : ~1 ~ Q :~ i ! ; i t ~ : ~~ ~ : : : & ~ ~ ~ 1 ~ ~ ~ ~ ~ ~ . mW l . ' ~ r ~ l ~ i H 1 1 l W l ~ : ; ~ ~ : ~ ! i j ; : ; i 1 ~ r ~ 1 ~ g : 9 ; 94 6 . 7 4 97 4 0 4 , 97 4 5 . 3 5 , 08 7 20 1 18 2 5, 4 6 9 5 . 8 1 0 , 44 3 2 1 26 1 3, 4 0 5 1 4 , 22 2 1 5 . 0 4 0 98 9 4 3 . 51 , 4 3 3 5 4 . . . 95 1 : ; a ' ::: : ::: : : : i : : : :4 ~ ~ 7 : ; ; ~; i i \ ~ 8 : ; : : i : ~ : ~ ; m : ; o :ii l i ~? ~ ; : 4 . ;7 ~ 7 m R i l i ~ M ~ ~ Q : r i ~ ~ ~ l ~ ~ ; ? ~ ~ l ~ ~ ~ 2 ~ ~ l f t f ~ 9 ; ~ m J i ~ ; H ~ ~ t ; ~ * ~ J , ~! ~ W i ~ ~ 1 ~ l Q ~ ~ . $ I ~ ~ " ~~ j : 9 ; ~ ii' 5 t ~ E ? 1 ~ . 1 : ~~ ~~ ~ ~ ' ; $ Q i E jt : ~ t l ~ g ~ ~: m ~ ! j ~ % t M ~ : : : ~ ~ t 4 Q i gQ 7 j ~ i f l , 1 g: ; ? J ~ ~ J t i . ~ ~ 9 ; ~ ~ ~ 1 ~ i t ~ 1 t ~ ~ W : 95 4 . 7 4 66 2 0 4 66 2 4 . 9 5 , 39 6 16 7 19 3 5 , 75 6 6 . 10 , 4 1 8 2 4 , 96 7 3 , 61 2 1 8 , 16 1 1 9 . 0 4 1 55 2 4 3 . 5 5 1 ~7 0 5 4 . 10 2 78 1 40 9 , 97 3 Ne t P r e s e n t V a l u e 6 0 81 3 No m i n a l L e v e l i z e d C o s t ( $ / M W h ) Re a l L e v e l i z e d C o s t ( $ / M W h ) tr j ~ ~ (J Q = - rD - . 0'" .. . . . - . .. . . . "" " " 0 ~ ... . , 60 , 81 3 56 1 32 4 96 8 12 2 77 7 24 , 82 2 44 , 81 8 30 7 19 2 08 3 35 . 28 . 47 . 38 . 02 A u r o r a R e s u l l s ( I R P I H R a " e r 0 8 ) . xl s 09 - 15 - 20 0 4 J R F AV I S T lR A F T 50 0 / 0 o f Co y o t e S p r i n g s 2 (C C C T a n d D u c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l As s u m p t i o n s In s t a l l e d C o s t 35 5 20 0 4 $ 0 0 0 5 Fi x e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a nc e C o s t . 16 0 . 07 2 0 0 4 $ 0 0 0 5 In s t a l l e d C o s t 37 5 20 0 4 $ / k W Fix e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t 00 2 0 0 4 $/ d t h l d a y Pr o j e c t C a p a c i t y 14 2 . Es c a l a t i o n R a t e s Ge n e r a l l n f l a t l o r i . 3 . 0 p e r c e n t He a t R a t e 44 4 Bt u l k W h Fi x e d O & M 0 p e r c e n t Op t i o n V a l u e 00 0 2 0 0 4 $ 0 0 0 5 Ga s U s a g e R a t e 25 . OO O s d t h l d a y Tr a n s p o r t a t i o n 0 p e r c e n t No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Fi x e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l F i x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r q y Pr o j e c t Fi x e d C h rq . To t a l C o s t s Fi x e d Gt r a n s Pr T a x In s u r . To t a l ts Co s t s Ma r q i n Va l u e Pr o ec t B e n e f i t To t a l V a r i a b l e C o s t Co s t s (G W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ / M W h ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) . ( $ 0 0 0 s ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ I M W h ) ($ 0 0 0 5 ) ($ I M W h ) 1 ~ ~ 7 1 ~ : JM ~ ~ C& 0 ~ 0 ~ ~ ~ D j 5 ( M M 0 ~ m B $ 3 ~ ~ ~ W ~ ~ ~ ~ 0 ' ~ m f i g ~ I M ~ ~ ~ ~W n m m T I ~ ;~ ~ i j ~ ~ I ~ ~ ~ g ~ ~ X 2 2 0 0 6 7 2 3 . 5 1 0 , 07 0 0 . 10 , 07 0 1 3 . 9 3 , 17 0 70 2 17 0 4 , 04 2 5 . . 1 4 11 2 6 36 5 2 , 12 2 ( 5 62 5 ) ( 7 . 8) 2 7 60 6 3 8 . 2 4 1 , 71 9 5 7 . 3 2 0 0 7 . : 6 8 9 . 3 . . " : " ., . :: . . O . ' :.: : : : ' ::: ' ~/I f 3 . 1:: . : : : : : t : : : : : : : 1; 4 ~? ' : : ::: ; ~ ; : :t 3 ; ~ $ $ ; : : ~ ; : : M : b M : Q : : i : m : ~ ; ; : : M . t : K 1 ~ f ~ j ; i $ ; ~ r ~ K t ~ ; : j : I ' l ! ~ j , ~l t t ~ 1 ~ ; 9) i r m r & f ( ~ : : ~ij t ~ 9 ~ ~ % ; ~ i Z ~ : ; ~ : ! t : ~ t J : : ? ; : ~ ; ~ $ : : : : : . . t: U f 3 ~ ~ 7 i J ) ~ ~ $ t H t 9 : J ) . \t l ? t : ~ f X : ; i M n : : ~ ( j , 4: ~ : F S ~ ~ : : ~ 4 t 7 M m : m ~ % 5 : : ~ . o ; 6 2 0 1 0 8 8 0 . 9 8 96 3 0 8 96 3 1 0 . 2 3 , 56 8 .0 6. 0 2 19 1 4 36 1 5 . 0 1 3 , 32 4 1 1 69 9 2 , 38 8 76 3 0 . 9 2 9 , 88 5 3 3 . 9 4 3 , 20 8 4 9 . 20 1 1 . 92 9 ; 7 . . ;: : : : : : : : ; : : t8 ~ 7 ~ : ( : : :: : : : : : : : : : ) i ~ : ::: : ~ : : ~ O : : : : : : : : : : n ; a , l ~ 1 : : : ' (? m t : :: : 9 ~ 4) ! ~ : f : / : ~ r ~ ; ~ 1 $ ; ) ~ ! ~ t J : ~ ~ ~ i ~ : i ~ 9 ; : : f j f f ~ ~ ~ ~ ~ ~ : i 7 J ~ ~ ~ J ~ ; ~ : ~ : i f f i 1 ! ~ i 4 ; M ~ ~ ~ 0 . ~ ' ~ ~ ; Q~ ~ ~ i ~ ~ J ~ ~ 1 : ~ ~ : ~ ~ ~ % : ~ ~ j : ~ ; 4 ~ ~ i m r t g ~ 4 ~ 9 : ; : : . : m : ! ~ ~ : : ? / t ~ 7 ~ m ~ r i : i M : r ~ ~ ~ ~ : \ 6 : ~ p ' ~ ~ i j ~ 2 ~ 1 J V . ~ 1 ~ : ~ ~ ; ~ ' 5f i W 8 : M ~ 1 . ? ? : Y : ~ ~ ~ : : : 4 ! ; ; $ ; . 8 2 0 1 2 9 4 4 . 7 8 49 0 0 8 , 49 0 9 . 0 3 78 5 55 2 20 3 4 53 9 . 4 . 8 1 3 02 9 1 4 97 1 2 53 4 4 47 5 4 . 7 3 1 32 4 3 3 . 2 4 4 35 2 4 6 . : 9 . . .20 1 3 i ;.; : : : : ; : : : 9'4 1 .: : :: : : : : :r ; : : a;? i t t : : : ~ : ~ : : : : % H i ~ % : : / : : Q : :: t : ~ i l i : a ig i ~ : : t P t ~ : : : : ~ ~ ~ : t % m ~ ~ : ~ ~ ~ : l 0 ! i T ~ J ~ ~ ~ : ~ Q ~ ~ ~ ~ ~ : $ ? t i l i ~ f i t \ ? Q ~ f i : ~ ~ ; . ~~ ~ i t ~ N ~ i ~ ~ ~ r ~ ~ ~ ~ 1 f J ~ ~ ~ 1 ? : % 1 & 1 W f J : $ ; ; 1 ' M; ~ : 0 J ~ ; i : g ; ~ : t p : / . :m m ; ~ f ~ ( ~ ~ ~ i l i ~ ~ 1 G i l i ~ t ~ . . : ~ : ::~ : ~ k ~ ? i ~ 4 ~ j ! ~ ~ ~ ~ 4 ~ ~ ~ r ~ ~ 1 ~ ~ 1 m ~ A ~ ' ? $ j ~ ~ t : Z ~ 1 ~ ~ ; ~ ; : 1 i 10 2 0 1 4 9 4 6 . 3 8 02 7 .0 8 , 02 7 8 . 5 4 01 5 50 2 21 5 4 , 73 2 5 . 0 1 2 75 9 1 6 , 54 6 . 2 , 68 8 6. 4 7 4 6 . 8 3 2 54 9 3 4 . 4 4 5 30 8 4 7 . 11 ~. o 1 5 . . . .;:: : : ; . .:: 9 4 7:. : 1 . : ; : : : : : : :: . : : ! : : : : 7, ~ d ? i : : : : : : : ) : : H j ~ :g ~ : : ~ : L ( L : t X ~ t ; 9~ l ~ i M j : ! ~ ; 1 ; ~ ; ~ : ~ f i K ~ ! ~ ~l~ ~ : m ~ ~ f % ~ J ~ ~ l ~ r ~ : b 1 J i l ~ ~ ~ i f $ f . # t ~ ~ ~ ~ \ ~ J ~ . ~ ~ ~ ~~ M ~ ~ ~ m : : $ t 1 i t B ~ ~ J M : ? ; ~ ~ M 0 ~ m ; t ~ ~ ~ ~ H l ~ 1 1 ? i f ~~ : : : : : : :if ~ ~ ~ ~ ~ : t A ~ ~ t ~ ~ ~ ~ ~ l ~ # . ~: : : ~iI ~ ~ ~ ? t ~ m ~ ~ ~ r ~ ~ : : j ~ ~ t i f 0 ~ ~ ~ : ~ ~ ~ ~ Q ~ : :~ ~ g t ~ ~ . ~; ~ : : 12 2 0 1 6 9 4 9 . 0 7 60 2 0 7 , 60 2 8. 0 4 26 0 45 1 22 8 4 94 0 5 . 2 1 2 54 2 1 7 , 75 4 2 85 2 8 .0 6 4 8 . 5 3 4 52 2 3 6 . 4 4 7 06 3 4 9 . . i 3 . 2 0 1 7 ' ' : : '. 9 4 8 ; ij . :'\ : : : \:: : i ; ~ ~ ~ : : ; : ~ : m : : : j : W H W W Q ~ t m : : 7 ~ ~ ~ ~ : : ~ t f J H t ; ~ : m ~ ! ~ t ~ ~ ~ 4 ; ~ ~ ~ W ~ ~ ~ 0 i : ~ Q : j ~ ~ ~ ~ ~ ~ 1 ? i j J ~ ~ if ~ 1 : ? ~ ~ _ ~ ; 9 1 ~ j i i i i ' t ~ ~ ~ f . ~ f : i f ? i ~ j g ~ ~ m n ; ~ 1 : ~ ; M j ~ ~ ~ ' ~ ? ; : ~ ~ ; M ; .:: f t ~ ~ ~ i ~ ? J ~ J & ~ ~ ~ $ ~ J i 1 ~ ; ~ : : :m m * t ~ 1 ; ~ ! ~ ~ m I ~ ~ ~ ~ ~ ~ ~ : ~ f ~ ~ ~ ~ ~ ~ ! ~ ~ ~ ~ : ~ : f . ~ J ~ 1 ~ ~ ; ; ~ : ; : 14 2 0 1 8 9 4 7 . 1 7 , 16 6 .0 7 16 6 7 . 6 4 51 9 .0 4. 0 1 24 2 5 16 3 . 5 . 5 1 2 32 8 1 9 05 8 3 02 5 . 9 , 75 5 1 . 0 . 3 3 6 24 . 0 3 8 . . 4 8 , 56 9 5 1 . 1 5 . 20 1 9 : : . . .:. : ; ' : 9 49 J . :: . ::' : ?:= : : : 6 . ; ~ ~ ~ : : : U D n : m ~ ~ ~ ~ : ! : : Q : : ~ t ~ m : ~ ; ~ . ~? 1 : % ~ i l i : % ~ ~ ~ z ~ ~ : ~ 1 ~ J E 4 ; ~ ~ $ : i ~ r t l ~ f f i ~ : Q . ; ~ ~ i ~ r i ~ 7 . ~~ ~ J r P J I g 4 ~ 1 i t i ~ ; : ?~ j j t ~ j i ? ~ i ~ ~ ~ ; ; , r ~ ~ J g ~ g l ~ t ; w . l l i ~ : ? ' Q ~ ? i ~ ~ 1 i ~ ; ~ r t t ~ . ~ ~ . :f M j 1 ' ~ l : ~ fi ~ J ~ a 1 ) f : :~ : ; m ~ ~ i ! l ~ i i i ~ ~ ~ : ~ ~ m ~ ' f . ~ ~ ~ ; Q ~ ~ M ~ ~ i ~ l f : i 6 16 2 0 2 0 9 5 4 . 0 6 , 7. 0 7 0 6 70 7 7 . 0 4 79 5 35 1 25 7 5, 4 . 0 3 5 . 7 1 2 11 0 . 2 1 58 7 3 2. 0 9 1 2 68 7 1 3 . 37 , 4 8 8 3 9 . 3 4 9 , 59 8 5 2 . 17 2 0 2 1 : . : : : . :: 9 4 9 : 4 . . : : : : : . : :') : : . . ~ ~ 5 ~ ( t ; : : i i : ~ : m i : ~ M ~ m : : J ; f ? m ~ : : ~ : ~ ~~ g g 1 : f : : ~ l l i . j i l ( ~ ~ : ~ ~ ~ : ~ ~ l ~ ~ ~ ; ~ ~ i j j ~ ~ t 4 r ~ ~ ~ ~ q : r i ~ ~ k ~ g ~ ~ ~ t ~ ~ ? ~ : ~ ~ i ~ ! ~ f $ ! ~ ~ ~ f t I t i J 1 ; l ~ f ~ ~ ~ ~ Y : t ~ ; Q M l i & i . i ? t ~ ~ ~ n ~ tI ~ 1 ~ ~ ~ 9 M l : . : j ~ ~ 1 ~ i : g ~ ~ ~ t ( : ~ ~ ~ 1 i i : ~ : ~~ : ' ' i ~ f B ~ ~ ~ ~ ~ ~ M f t ~ l t 4 K t j ) r & ~ ~ " R l : $1 ; ( ) f i j : : l ~ ~ ~ ~ . ~: t ; , 18 2. 0 2 2 9 4 6 . 7 6 , 35 8 0 6 35 8 6 . 7 5 , 08 7 30 1 2 7 2 . 5 66 0 - 6 . 0 1 2 .0 1 8 2 1 26 1 3, 4 0 5 1 2 64 7 1 3 . 4 4 0 , 98 9 4 3 . . 5 3 00 7 5 6 . 1 9 20 2 3 . .. . . . . 9 5 1 : : B . . .: . :: : : : i:: ~ ~ Q 6 2 ~ : :i ~ ; ~ : : i ~ f , : ~ : : ? % : ; 0 ' t: : ~ / : ~ ; ( j ~ g : : m ~ t : ~ ~ ~ t 6 ~ 41 ~ m ' ~ ~ ~ ? ~ ~ i t ~ \ ~ ~ * P ; ~ ~ ~ 0 . ~ ~ M ~ ~ 1 J ~ ~ , ~J : r ~ J p J , ~ W I ~ ~ ~ p l J I ~ ~ i l l ~ : l ~ ~~ i j J ! f l ? J ~ f ~ ~ 1 ~ W i i ) M ~ ; ~ 9 1 : fii : : ~ : ; ~ l j . $;~ J ~ i f i l i ~ r : ~ a ~ ; ~ : : :~ t ~ ~ Q ;g ' q l ~ ~ m ~ ~ ~ : ; g ~ 1 ~ ~~ ~ r ~ ~ ~ Q ~ ~ ~ ~ 1 ~ , $4 ) t ~ 2. 0 2 0 2 4 9 5 4 . 7 5 8p 9 0 5 86 9 6 . 1 5 39 6 25 1 28 9 5 , 93 6 6 . 2 1 1 , 80 5 2 4 , 96 7 3 , 61 2 1 6 , 77 5 1 7 . 6 4 1 55 2 4 3 . 5 . 53 , ;3 5 7 5 5 . Ye a r Ne t P r e s e n t V a l u e 8 2 , 97 6 No m i n a l l e v e l i z e d C o s t ( $ / M W h ) Re a l l e v e l i z e d C o s t ($ / M W h ) 97 6 37 , 08 3 . 5 34 1 98 7 44 , 41 0 12 7 38 6 12 2 , 77 7 82 2 20 , 21 3 30 7 19 2 43 4 57 8 2. 4 35 . 28 . 50 . 40 . tr j ~ ~ :: r (D .. . , . N ~ 0 - 02 A u r o r a R e s u l t s ( I R P I H R a f t e r 0 8 ) . xls 09 ~ 1 5 - 20 0 4 J R F AV I S T 1R A F T 50 0 / 0 o f Co y o t e S p r i n g s 2 ( C C C T a n d D u c t Bu r n e r ) ~c o n o m i c A n a l y s i s D e t a i l As s u m p t i o n s In s t a l l e d C o s t 14 0 20 0 4 $ O o o s Fi x e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a n c e C o s t 21 3 . 42 2 0 0 4 $ 0 0 0 5 In s t a l l e d C o s t 50 0 20 0 4 $ / k W Ax e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t 00 2 0 0 4 $/ d t h / d a y Pr o j e c t C a p a c i t y 14 2 . Es c a l a t i o n R a l e s Ge n e r a l I n f l a t i o n 0 p e r c e n t He a l R a l e 44 4 Bt u l k W h Fix e d O & M 0 p e r c e n t Op t i o n V a l u e 00 0 2 0 0 4 $ o o o s Ga s U s a g e R a t e 25 . OO O s d t h l d a y Tr a n s p o r t a t i o n 0 p e r c e n t No m i n a l D i s c o u n t . R e a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Fix e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l A x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r Q V Pr o i e c t Ax e d C h r To t a l C o s t s Fi x e d Gt r a n s Pr T a x In s u r . To t a l C o s t s Co s t s Ma r Q i n Va l u e Pr o t B e n e f i t To t a l V a r i a b l Co s t s Co s t s (G W h ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 9 ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 9 ) ($ l M W h ) 1 2 0 0 5 . . 7 . 1 4 : 2 . : ' :: : ,:1 3 ; ~ ! $ : ; : : : ::' : : : :: . :: . :: : : :: : S : : : : : : Q:: : : , i : : : : j . ~7 ~ 1 : ; : : : ) ; : : : : 1 B ; : i : : r B . m K : ~ ; Q l ~ : ~ : i ~ ~ m ~ : ! ; : : ~ 9 : ; t ' ~ t ; i t ~ ~ ~ t g ~ ~ M ~ ~ ~ 9 j i ~ ~ ~ : ; g ~ Z i ~ ~ ; ~ j ~ ~ ~ ~ ~ ( Q t t f . ~ l W ) t ; ~ 4 ? J ~ r ~ i f i : i $ ' ;1 : ~ . ~:: : : : : n I ~ ( ~ ~ ~ 9 ~ p : r . . : ;!::n o ; : 1i: ; i : : ) : : ~ : : : (1 : 4 ) 6 ) . i ~ ~ J : ~ \ : ? ~ : 7 i j ~ ~ : m ; j i f r t i ~ U p i ~ : : ; ~ J m ~ N i # ~ ~ 4 Q $ : : ; i : : ! : f i * % j : 6 ~ : Jj : . 2 2 0 0 6 7 2 3 . 5 1 2 93 6 0 1 2 , 93 6 1 7 . 9 3 17 0 0 9 3 6 22 6 4 33 2 6 . 0 1 7 26 8 6 , 36 5 2 , 12 2 ( 8 78 1 ) ( 1 2 . 1) 2 7 60 6 3 8 . 2 4 4 87 5 6 2 . 3 2 0 0 7 . .:. : : . :: $8 9 : 3 ' ::: . ::: : : : : J 2 ~ ~ i . t:: : : : : , : : : :j: : : : : ; : : ; : : , : : r . t( ) : : U ~ : : : j 2; j J j . tt t ' :\ : ; 1 ~ : ?: : ~ ; ~ ~ n t ~ ~ ~ ~ ~ : : : t t l ~ f ~ ~ j N ~ t : : i ~ H l ~ ; ~ Q ~ i ! f ) , m t ? ~ ' am ~ m ? ~ 1 ~ i M : f ; ~ ~ ~ ~ I ~ ~ 4 1 ~ ~ l J t J ~ ' 1~ ; ~ t ~ ) ~ ~ ~ M 4 ~ 1 ? ? T i l i ~ ~ t ~ t : ? ; 1 : ~ $ " ; : . . ::m ( j . p~ . Q1 . Qf: S 1 : ; m : j n ; ~ : $ ) :M L ~ 7 ~ ~ t ? i ; ~ : ~ m ~ ~ t i ~ t i ; 4 : ; ~ * t ~ n ! m : # ; 7~ & l : ~ ~ j . w : ~ ~ : Q: : 6 2 0 1 0 8 8 0 . 11 , 4 1 7 0 1 1 41 7 1 3 . 0 3 , 56 8 80 2 25 5 4 , 62 5 5 . 3 1 6 04 2 1 1 , 69 9 2 38 8 ( 1 95 5 ) ( 2 . 2) 2 9 88 5 3 3 . 9 4 5 92 6 5 2 . 7 . 20 1 1 :, . :: 9 . 2!J ; i : . : : : : ::: : : : : : 1 : 1 ~9 ~ t ; : : : : : t : : : : : : n : : ~ t ' : ' Q:: 1 : i : : : : ~ ~ :1 ' ;P ~ t : : ; : ~ : : H ? 1 . j . ~9 : : ; ~ ~ ~ m : ~ ~ ~ ~ ~ 1 ~ ~ : m ~ ; ~ g ~ ~ 1 ~ ; : p : ; ~ ~ ~ : m ~ ~ : t l : ~ ~ ~ i 1 t t 1 ~ : ? : $ ?~ ~ w ' ~ i Z q $ l ' ; i ~ J k ~ ~ : 1 1 ~ ~ ~ ~ : ~ ; ~ Q 4 ; a ~ ~ ' : ~ : 4 ~ ~ ~ ~ ~ ~ * ! K ~ ; M ( ) : :j : : . :i ~ ~ ~ ~ f ~ : : l t ~ : ~ f : ! ~ f f i j f i ( ) ; : t ' :;~ : ~ t : : ~ p ; ~~ ~ i l ~ i ; ~ ~ ~ ~ ; ~ ~ ~ # r i 0 / 4 $ ~ t ~ ~ . :: ~ ~ m ~ ~ ~ ~ Q ; 3 : : : 8 2 0 1 2 9 4 4 . 7 1 0 , 75 9 0 1 0 75 9 1 1 . 4 3 78 5 73 6 27 0 4 79 1 5 . 1 1 5 55 0 1 4 97 1 2 53 4 1 , 95 5 2 . 1 3 1 , 32 4 3 3 . 2 4 6 , 87 3 4 9 . 9: 2 0 1 3 . . 94 1 : . 4 : . . , ~:: : : 1 : j ) ; 4 ~ e :: . ; : : : : : : : : : : : : ; t : : : : : : : : : : : : : . O:: : : : : ::i : j . p; 4 ~ ~ : ~ ! : : : : ~ : : : ' : : : : : j : 1 . ;T : J : N i l i ~ : ~ ~ ~ : m : j ~ ~ j j ~ ~ ~ : : ~ m i : i H : t ~ ~ ~ q ~ ~ & i ~ : ? 7 i j : ~ ~ f i ~ . ~i ~ ! J i l i ~ ~ m 1 l l i ~ ~ ~ ~ _ J a : ~ ~ ~ ~ t 1 ~ ~ 1 J ~ ; J $ ~ : ? * m : \ ~ : ~ : 6 j . q;: : ~ :~ : 1 ~ : ~ ? A ? ~ : ~ m t i ~ ~ m t ~ ; ~: : : m r ~ ? ~ ~ 4 ~ : t ~ i i l i W m ~ 4 ; W t i ~ ~ ~ d 4 t ; ~~ i : : ~ m ~ m i ~ ~ ~ $ ( j / i : ; 10 2 0 1 4 9 4 6 . 3 1 0 11 9 0 1 0 , 11 9 1 0 . 7 4 01 5 66 9 28 7 4 97 1 5 . 3 1 5 , 09 0 1 6 , 54 6 2 68 8 4 , 14 3 4. 4 3 2 54 9 3 4 . 4 4 7 , 63 9 5 0 . 11 2 0 1 5 . ,9 4 7 . 1 ' : . :: : . : : : : : : : : : :9 . ~q ~ ~ ~ : , : : : ::: : : : : : : :r; : ! : : : ~ : ) : Q: : ): : m ~ r ~ , $O $ : t ! ~ t I : 1 0 ; 4 ; : : n m r i ~ : ~ h : t ~ ~ ~ ~ * ~ ~ ~ * ~ m : 9 : ~ ~ ~ i ~ i ! j ~ ( ~ ~ ~ ~ ~ K ~ ~ ?~ : ~ w . ~ ~ ~ m ~ : t : r ! ~ ! ~ ~ ~ ~ ~ ~ ~ . i f ~ J ~ : 4 ~ ~ ? ? i ~ r ~ ~ l j : ! ~ M 1 : ; : m t f u 1 ; : g ~ 7 M : : ~ 1 . :: ; ~ ~ i l i : $;' ?~ ~ : 0 ~ W E M : ~ ; ~ ~ : ~ J ~ 1 : ~ ~ ; ? ~ ~ n l $ ! m ~ ~ ~ : ; J ~ 1 i ~ t : ~ M ~ ~ 1 A ~ : ~ 1 ~ $ ~ i l i ~ Q : : 8 : ' 12 2 0 1 6 9 4 9 . 0 9 , 51 7 0 9 51 7 1 0 . 0 4 26 0 60 2 3 0 4 ' 5 , 16 6 5 . . 1 4 68 3 1 7 , 75 4 2 85 2 5 , 92 2 6 . 2 3 4 52 2 36 . 4 4 9 20 5 5 1 . .1 3 . 20 1 7 : : , 9 48 . 0:. ' : . ::: : :~ ; 1 ~ ~ i . :: : : :: : :m ; : ~ / : : : ; : : m : L p . t ~ J: : ~ ; j ~ ~ : m t f ~ a ' ~: 7 X W % : 1 ~ ~ ~ ~ ~ j ~ ~ i ~ f ~ i l i : Q : l l i ~ J i i ! \ i ~ : ~ & i I m ~ 1 ~ ~ I ~ J ! i . I ~ ~ 1 g 7 Q ? l f j ~ i ~ ~ I ~ ~ & 1 . 1 g ~ : 4 ~ ~ ~ : ~ ! t : ~ ~ 1 ~ ; 9j ~ ~ ; ~ ~ ~ ~ i l : m . :'m ~ ~ j 1 i ~ ? t ~ ; ~ ~ ~ ~ : m ~ % ? ; i J . '~: ~ : M ~ ~ ~ g m ~ * i ~ ~ ~ ; : ~ ~ : ; ~ : m t t ~ J m J # ~ i ~ 9 i ~ r ~ ~ i ~ 1 ~ ? ~ 1 ? 14 2 0 1 8 9 4 7 . 1 8 , 90 3 0 8 90 3 9 . 4 . 51 9 53 5 32 3 5 , 37 7 5 . 7 1 4 28 1 1 9 , 05 8 3 , 02 5 7 80 3 8 . 2 3 6 24 0 3 8 . 3 5 0 , 52 1 5 3 . 15 . 20 1 9 94 9 : 1: . . . :: : : : 8 ' $a ~ : : : , i: : ; 1 : ; : ' : : : :: : : : : : : : Q : : i : : : n ~ : ~ ; ~ 8 g : : : : : ; : : ' : : : m W ~ ( ~ ~ M t : 4 : ; $ ~ $ f f : ~ ~ 1 ~ ~ , 1! ~ ; m : ! ~ ; ~ t : : ~ i M ~ ~ ~ Q ? 1 ~ ! j f ; f ~ a ~ ~ i ~ ~ 1 $ ~ ~ ~ ~ ~ 1 ~ 1 ~ i : $ ~ ~ ~ l f i r i i f ! J 4 ~ Q t i : : r t J t ~ p ; ? t ~ m ~ ~ T h ~ ~ l : 1:~ ' m ; T t ~ i ~ ~ g ; ~ , ?3 . : ; m m t ~ r ? 9 ~ ~ i ' : : ~ ~ i r : ~ ~ ~ j i ~ ~ R ~ j ~ ~ ~ ~ ~ ' ;~ j : p ~ ~ 1 $ Q ~ ~ t j ~ : i m ~ l j l l i * : ~ ; . ~~ : 16 2 0 2 0 9 5 4 . 0 8 , 26 8 0 8 , 26 8 8 . 7 4 79 5 46 8 34 2 5 60 5 5 . 9 1 3 , 87 3 2 1 , 58 7 3 , 20 9 1 0 92 3 1 1 . 5 3 7 48 8 3 9 . . 5 1 36 1 5 3 . 17 2 0 2 1 , . . : : . ::: . : ; . 94 9 . :4 : : : : . : : ; : :; : ::l ~ ~ ~ 2 ) ' :: \ i : : : : :: ~ : : i ~ : t : : ' J ) : i : : ~ i : i t i : : 1 ~ ~ ~ . ~\i : : : i : : ~iW : ; ;~ : :: ; ( M r 1 f i i ; ~ ~ ~ 1 ( i ? 1 ( i ~ : t f j m t Q m ~ t f m l . ~ ~ t ~ 1 r i ~ ~ : ~ ~ ~ ~ ~ ~ ! ? ~ i J t 1 l . ~ ~ q ~ J i * J ~ ~ t l ~ ; i ~ ~ f ? 1 : ; ' ~a l i t : ~ i ; ~ ~ ~ ~ ~ m f : t ~ ~ t ~ ) l ~ ~ f f i J ~ 1 ~ l * f 1 ~ X ~ ~ : ~ ~ t % : ~ . ;# ~ ~ f ~ ~ ! ~ ~ , t~ 9 : E ~ i l i i & . ~ g j ~ ~ t ; : r 1 F : . w 1 f , $ $ ; ~ . 18 2 0 2 2 9 4 6 . 7 7 , 74 2 0 7 74 2 8 . 2 5 08 7 40 1 36 3 5 , 85 1 6 . 2 1 3 , 59 3 2 1 , 26 1 3 , 40 5 1 1 07 3 1 1 . 7 4 0 89 4 3 . 3 5 4 58 2 5 7 . .1 9 2 0 2 3 . ' . ;:9 ! ; j 1 . :8 : : ~: : : ; \ : : :: 1; ~ $ 1 : : ~ ~ : ; ' : : N i : ' ~ ; ; : ~ ~ 1 ; ~ ~ J ) ?Y : ' ::: : 1 ~ ~~ ! ' :~ ~ j ~ : i m ~ m : 7 W . J:n ~ r m ~ ; ~ ; g ~ ~ i ' ~ r : f i W J \ Q : f ~ ~ f 1 ~ ~ ~ : . ~~ 1 1 1 ! f ~ z ~ ~ ' k 1 t ~ ~ ~ ~ ~ ~ - ~ ~ t ~ . f & ~ ~ t ~ ;~ ~ ~ ~ ~ ~ : ? A ; 1 ' ~~ ~ ~ * ~ l ~ ~ $Q t i . ~r c t : 4 ; ~ ~ ) ~ ~ 1 F U J J $ ~ l f f t : M ; g g Z I ~ t f m 4 ? ~ ?l ~ ~ ~ : ~~ i ~ 4 . ~:i l l ~ ~ ~ l ~ ~ ~ ~ . 20 2 0 2 4 9 5 4 . 7 7 07 5 0 7 07 5 7 . 4 5 , 39 6 33 4 38 5 6 11 6 6 . 4 1 3 , 19 2 2 4 96 7 3 , 61 2 1 5 , 38 8 1 6 . 1 4 1 55 2 4 3 . 5 5 4 74 3 5 7 . Ye a r Ne t P r e s e n t V a l u e 1 0 5 , 13 8 No m i n a l L e v e l i z e d C o s t ( $ / M W h ) Re a l L e v e l i z e d C o s t ( $ / M W h ) 0 1 0 5 , 13 8 37 , 08 3 . 7 , 12 1 64 9 85 3 15 1 , 99 1 12 2 , 77 7 82 2 39 2 ) 30 7 19 2 45 9 , 18 3 12 . (0 . (0 . 35 . 28 . 53 . 4 43 . '" C t r 1 ~ ~ (J Q = - 0'" J- o I . - . ~f ' " ' I " Q ~ ... . , 02 A u r o r a R e s u l t s ( I R P I H R a f t e r 0 8 ) . xl s 0~ - 15 - 20 0 4 J R F AV I 5 T . ': 5 lR A F T 50 0 / 0 o f Co y o t e S p r i n g s 2 . ( C C C T a n d Du c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l 0 p e r c e n t 0 p e r c e n t As s u m p t i o n s In s u r a n c e C o s t Ga s T r a n s p o r t Ge n e r a l I n f l a t i o n Op t i o n V a l u e 32 0 . 13 2 0 0 4 $ o o o s 00 2 0 0 4 $/ d t h l d a y 0 p e r c e n t 00 0 2 0 0 4 $ o o o s No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t In s t a l l e d C o s t In s t a l l e d C o s t Pr o j e c t C a p a c i t y He a t R a t e Ga s U s a g e R a t e 10 6 , 71 0 2 0 0 4 $ O O O s 75 0 2 0 0 4 $ / k W 14 2 . 3 M W 44 4 B t u l k W h 25 . 4 o o o s dt h l d a y Fi x e d C h a r g e Ax e d O & M Es c a l a t i o n R a t e s Fi x e d O & M Tr a n s p o r t a t i o n 0 2 0 0 4 $ p e r kW - m o 75 2 0 0 4 $ p e r kW - m o Fi x e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l F i x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r a v Pr o i e c t Fi x e d C h r To t a l C o s t s Fi x e d Gt r a n s Pr T a x In s u r . To t a l C o s t s Co s t s Ma r c i n Va l u e Pr o ec t B e n e fi t T ot a l V a r i a b l e os t s (G W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) 1 . 20 0 5 . .. . ::,::1 1 4: 1 , :: , ::, ) 9 ~ 3 . ( ) Q : : : : : : : : : : : : : ' : : : : ; ~ : : t t ~ : 9: : t ) j : 9 ; ~ Q ( j f ; : : ~ : ( : : ; : : i t ~ ( f : : t M ~ : j : ~ ; Q t ~ : r ~ m m ~ ~ ~ : ~ ~ : ~ j : g m ~ t : ~ ~ 1 : r 4 M f f i m . % I l ~ j ~ ~ q : ; h h l f f i 0 i ~ ~ ~ ~ g : r ~ I f ~ 1 ~ ~ ~ ~ Q _ 1 W 1 ~ 4 ~ j . 1~ ~ t t : ~ ~ 1 ~t : ~ ~ ; ; ) : ? ~ 9 ~ P : : : : : J: ( f 6 ; ~ $ o m ~ ; ~ i . : ( ? ~ ~ z ) : ' : n r 2 ~ ; 1 . ~ ~ ) f ~ w J A Q : ~ ~ l l ~ ~ ~ : ~ : : : $~ ; ~ g $ i ~ ! ~ 1 J i i : 4 j : : , 2 2 0 0 6 7 2 3 . 5 1 8 66 7 0 1 8 , 66 7 2 5 . 8 3 , 17 0 . 0 1 . 40 4 3 4 0 . 4 . 91 4 6 . 8 2 3 58 1 6 . 36 5 2 12 2 ( 1 5 , 09 3 ) ( 2 0 . 9) 2 7 60 6 3 8 . 2 5 1 18 7 7 0 . 3 . 2 0 0 7 , . . . () 8 9 : 3 . . , : . . ::: . : 1 B;~ ~ O : : : : : ::~ : ::: , ::: ' !:: t : . : i : : : : :t) ':: , ; : : l : j . ~~ 9 j Q ; : : : : : : : : ' / : : : : : ~ 6 . ~ : : ~ ~ n m : ~ ; ~ ~ ~ ; ~) ~ i : : t l l i t ~ n f : . Q : : ~ \ ! ~ m t i ~ M l ! ~ ? i ~ l M ~ ~ m ~ 8 ~ ~ : ~ ; ~ , ~~ ! : r ~ ~ J i t ~ ~ t ~ ? ~ t ~ 1 I t t . : l ; ~ ; ~ ~ i j : l l m ~ t ~ ~ ; 1 ~ ~ ~ f ~ ~ ~ i l l p : ? ; i ~ . ~: ~ ; : . . ::: a j . ~~ q ~ j . :: ; W % : ~ ? i j : ~ j :: W C ? ! ; ~ ! t J ~ ~ ~ W A ( j i 4 : ~ t ~ ~ 1 ~ r ( ~ i ) : ~ 7 ~ : j t j ~ ~ i ~ f j ' t~ : . ij . 6 2 0 1 0 88 0 : 9 . 32 4 . . " . . . , . 0 . . 32 4 . " " " 18 . 5 . " , . 3; 5 6 8 ' . . . ' . . . " 0 . " 20 4 ' . " , . . 3B ~ i . . . ' 5; . 15 4 . . . " ' 5: 9 . .,. , . . ' . " 21 ; 4 7 E f ' ' 11 ~ 6 9 9 . " " " ' . 2; 3 8 8 . . . " ' (i ; 3 9 ' i) . - . . . (8 : 4 ) . . " 29 ; 8 8 5 ' . " . ' 33 ' . 9 . ' . " ' . . ' 5(3 6 2 . " " . . . i; 8 . 7 . .2 0 1 1 . . ~ 2 Q ; .7 : :: : : ::: . : ~: : 1 ~;~ 1 ' 7 ' :' :: : : : \ : : : : : : : ) : i : : : ~ : : : : : O ' :r ; : : ; ) ; $ ; ~ tt: : m : m ; : u ~ 7 ; ~ : : : : j : ~ ~ m ~ : ~ ' ;~ 1 $ : ~ r ~ ~ f ~ ~ m f 1 ( e j ~ ~ ~ t : f j . ;: r $ ~ W : 1 ~ ~ : ~ ~ 4 ~ 1 ~ ~ T h R m r $ ; g ~ ~ ; ~ ~ i 1 i l i ~ ~ ~ ' j~ ~ t ~ 1 ~ g t ' p ~ ~ : ~ ~ ~ N J j ~ ; 4 ~ ~ ~ m m : g ~ M 9 ; : ; . :ff i ! ~ ~ : : ( $~ i j :~ F ~ m ~ m m : ( 5 : ; $ ) ' : M ; 1 ~ 9 : ~ ~ ~ ~ ~ i i W ~ 1 J r ~ ~ : ; ~ ; ~ ! M ~ ~ t ~ : : $ ~ :'~ t ~ r ~ ~ ~ ; ~ ~ ~ ~ : ; ~ ' 8 2 0 1 2 9 4 4 . 7 1 5 . 29 8 0 1 5 , 29 8 1 6 . 2 3 78 5 0 1 , 10 3 40 6 5 , 29 4 5 . 6 2 0 59 1 1 4 97 1 2 53 4 ( 3 08 7 ) ( 3 . 3) 3 1 , 32 4 3 3 . 2 5 1 , 91 5 5 5 . 9 2 0 13 . : . :: 9 4 1 ' :4 : : . :: : ' : :: : 14 ; t n 9:: : : : ' . : : : : : i : ; : : ;:~ : L ? : : : : : :6 : : : 2\ ~ 4 ~:~ 1 , m:: ;:% : : 15 / 7 : :% W J : ~ e ~ ; ~ ~M ~ ~ ~ i $ j 1 m j t Q ! ~ ~ ! T : t X : ~ ;;Q $ ~ ~ 1 1 w 1 ~ ~ J ID t i ' ~ j p J ~ ~ ~ 4 1 Q ~ ~ f ~ / l j l l i i , ~ ~ W ; ~ ' ?P : f ~ ~ m i k ~ t i J ~ ; 1 ~ $ ! ~f J l ~ m ( ~ ~ ; ~ ~ J 1 . : ~~ : . ,r, m : : ( ~ ~ ~ ? 4) : ~ ~ ~ f ; & ~ ~ : ( ~ : i j ) :~ : ~ i : : ~ ? iM ~ : ) W - J ~ 1 ~ ~ i ~ 1 ; 4~ ; $ ~ f t ~ r ~ i; $~ ~ ~ im ~ ~ ~ ~ 1 : : : ~ : 5 X ~ 12 2 0 1 6 9 4 9 . 0 1 3 , 34 7 0 1 3 34 7 1 4 . 1 4 26 0 90 3 45 6 5 , 61 9 5 . 9 1 8 96 6 1 7 75 4 2 85 2 1 63 9 1 . 7 3 4 52 2 3 6 . 4 5 3 . 48 8 56 . 4 13 ' 2 0 1 7 . . :. . 4~ . O.: : : : : ' :1 : ? , M? : : :: : : : I : ~ t ~ t ' mt : i j : ~ : m : G 1 ? i ~ 4 ? ) ~ W 6 I j ~ ~ ~ k t ~ ~ l j : ( 4 . ~ ~ ~ B . ; ~ ~ ; ~ ~ f r ~ m \ : 9 1 j ~ ~ j ! t ~ ~ 1 ~ & ~ i ~ 1 r i f ~ i l i , 47 j 1 : ~ m W ~ ; z j ; 9 . i ~ 1 f : ~ ( Q ! t \ * 1 t 1 f i t ~ ~ ~ ~ g : t ~ i ! f ~ ~ ~ R ) ! Z ; ; ~ t ~ ~ ~ ~ ~ z U , g m t : ~ ~ l i j ~ a ~ $ i ~ m ~ ~ ~ ' : ' ~~ m : ~ ~ ~ ~ ~ g i ~ * ~ 1 ~ ~ ~ ~ ~ ~ ~ f 1 ~ 1 \ ~ ' ~ ~ ~ ~ ~ 4 f 1 ~ t i ( ~ ~ r ~ t : 14 2 0 1 8 9 4 7 . 1 . 37 9 0 1 2 . 37 9 1 3 . 1 4 51 9 80 2 48 4 5 80 6 6 . 1 1 8 18 5 1 9 , 05 8 3 02 5 3 , 89 8 4 . 1 3 6 . 24 0 3 8 . 3 5 4 42 6 5 7 . 1 5 . :2 0 1 9 ' . . . ,. " : .94 9 : : 1 . , . : : : : : : :' : ~ ; : : J t ; ~ ~ Q . : ; : j : ::: : : : :i~ g~ ~ ~ f \ p : : : : : j & j : t ; ~ . ~i: t r ~ : i ? W : : j . g ~ ~ : m t ~ 1 1 ~ : ~ ; $~ $ m ~ ~ k 1 4 i i i g l ~ l ~ ~ ~ r ? $g ~ t i 1 ~ ~ ~ ~ ~ j ' i T h 1 ~ ~ i i j Qi j l ~ ~ J : ~ : ~ ~ ? J ~ ! ! ~ . ~ j 1 i i t ~ ~~ w . r J : : ? Q i ?i A i ~ ~ ~ l ~ ~ 1 : t ij : ; ~ : . m~ ~ ( ~ ; ~ Q ~ H ~ 1~ I M ~ ~ ~ : ~~ ~ : ' : 1? ~ J ~ ~ i E t f f ~ ~ t ~ f ~ t r ~ i j : ; Q : j : ~ ~ 1 ~ 1 ~ ~ ~ $ ~ , ~ : ;~ t ~ ~ ~ ~ ! : i ~ : ' 16 2 0 2 0 9 5 4 . 0 1 1 39 0 0 1 1 39 0 1 1 . 9 4 79 5 0 70 2 51 4 6 01 0 6 . 3 1 7 . 40 0 2 1 , 58 7 . 3 20 9 7 39 6 7 . 8 3 7 48 8 . 3 9 . 3 5 4 B8 8 5 7 . . .17 2 0 2 1 :: : : : . " , . : : . : 9 4 9 . -4 ' . : : : ::: : ; ::: , it 0 ; 9 ~ $ : ' ; f : t tl~ : ~ m ~ ! : ~ : ~ : . Q :': m ~ ~ :i ) i ~ ~ ~ : : : & f 1 a :t 1 ; ; ~ : ~ i ~ f ~ ~ ff i ' 4 i ~ ~ ~ f & 1 W ~ ~ ~ P 1 m 1 j f ! ~ : : ~ ~ ! ~ g r J 1 ~ ~ ~ ~ : r i i ~ l ~ : i i ~ 9 0 B ~ 1 ~ ~ ~ ~ : ~ i f J 1 I t ~ q ~ ~ J ~ ~ ? J ~ ~ ~j ~ ; ~ ~ ~ ~ ~ ~ ~ ~ ~ I . ~ ~ ~ f I l ; ~ M 1 J t ~ m f ~ & ~ , ~t H ? : j : ; ~ ~ ~ ~ ~ . ~~ ~ ~ : ~ : ~ 1 1 ~ ! ~J : ~ Q 1 ~ ~ ~ r i : ~ ~ ~ j J g $ ;l f f i ! ~ ~ f f i ~~ r Q : 1B 2 0 2 2 9 4 6 . 7 1 0 50 9 0 1 0 . 50 9 1 1 . 1 5 , D8 7 60 2 54 5 6 , 23 3 6 . . 1 6 . 74 3 2 1 . 26 1 3, 4 0 5 . 7 92 3 8 . 4 4 0 . 98 9 4 3 . . 5 7 73 2 6 1 . 1 9 20 2 3 " ' : : : :" ' . 95 f a : :: : : : : : ' : :) ' , 9 : 9 4f J : ? : : : :, : ~:~ : : 1 i :~ ~ : ~ ~ ~ : ~ / O : : i ~ : : ~ : ; ~ : ; ' 9 ' 4t' H : : : ~ : ~ : ~ ~ 8 : 1. 0 : . 5 : ~) ~ * , i ~ 5 : ~3 9 ~t 1 ' ~ ~ ~ ~~ ~ ~ : o: t f . i~ t :w f ' 2, ~ ~ 1 - t !5 G j ! t . ~ " " i i ( l 6 2r ~ ~ ~ f ~ ; . (3 : 7 1 f . ~ l , t ~ 1 . )3 0 0 ~1 ~ ~ 1 24 ' :1 6 3 : ~ ~ 8 ~ ~ ' ; 3 : so t ::t ~ H f r 3 7 :( ) : i ~ ~ ~ ~ ( % ? ~ ~ p : :J l : ;~ ~ ~ ~ 4 d ; i~ ~ ~ ~ i r 4 i :~ t ~~ ~ ~ ~ I 1 l l i 5 6 : 5 0 a : ~ ~ ~ ~ ~ t ; i i ! f 4 : . . . ' . . .. . .. . ... " . . . 'v . .. . . "'. '. . . "" " ~ .'. "" " ~ ' "" ' " . :'. "" " ' . " ' i . "" " " " "." " , . ; . -.. " . . " . .. - , ,.. . ,'i i ' . ~ " , ~ , ( " . "" " " " , "~ " ." . . -,- " . ,,, . , ' . . . ," " " " " ",, . . "'. " . ",. . : . .,. "., . . " "" . ... .-" . ,.. . . . . . . ~w ; " . ., . . "" , . ." . " . ". . . ." . "" " v ;'. 20 2 0 2 4 9 5 4 . 7 9 . 48 9 9, 4 8 9 9 . 9 5 , 39 6 50 2 57 8 6, 4 7 6 6 . 8 1 5 , 96 5 2 4 96 7 3 , 61 2 1 2 61 5 1 3 . 2 4 1 , 55 2 4 3 . 5 . 51 7 6 0 . Ye a r Ne t P r e s e n t V a l u e 14 9 , 4 6 3 No m i n a l l e v e l i z e d C o s t ( $ I M W h ) Re a l l e v e l i z e d C o s t ($ / M W h ) 0 1 4 9 , 46 3 08 3 10 , 68 2 97 3 73 8 20 1 20 0 12 2 77 7 82 2 (5 3 , 60 1 ) 30 7 19 2 50 8 , 39 2 17 . 14 . (6 . (5 . 35 . 28 . 59 . 47 . tr j ~ ~ (J Q = - (D . , . . "" " ' " . , . . .. . ~ 0 ~ 02 A u r o r a R e s u l t s ( I R P I H R a f t e r O B ) . xl s 09 - 15 - 20 0 4 J R F AV I S T .. . . -: ' RA F T 50 0 /0 of Co y o t e S p r i n g s 2 ( C C C T a n d D u c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l As s u m p t i o n s Il n s t a l l e d C o s t 98 6 20 0 4 $ o o O s Fix e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a n c e C o s t In s t a l l e d C o s t 47 8 20 0 4 $ / k W Fix e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t Pr o j e c t C a p a c i l y 14 2 . Es c a l a l i o n R a t e s Ge n e r a t l n f l a t i o n He a t R a t e 44 4 Bt u l k W h Fix e d O & M 0 p e r c e n t Op t i o n V a l u e Ga s U s a g e R a t e 25 . Oo o s d t t V d a y Tr a n s p o r t a t i o n 0 p e r c e n t 20 3 . 96 2 0 0 4 $ O o o s 00 2 0 0 4 $I d t t V d a y . 3 . 0 p e r c e n t 00 0 2 0 0 4 $ o o o s No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Fi x e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l F i x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r o v Pr o j e c t F ix e d C h r To t a l C o s t s Ax e d Gt r a n s Pr T a x In s u r . To t a l C o s t s Co s t s Ma r o h l Va l u e Pr o t B e n e f i t To t a l V a r i bl e C o s t Co s t s (G W h ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ O O O S ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 s ) ($ l M W h ) 2 2 0 0 6 7 4 4 . 3 1 2 46 3 0 1 2 46 3 1 6 . 7 3 , 17 0 0 8 9 5 . 2 1 6 . 4 28 1 . 1 6 74 4 6 , 39 5 2 12 2 ( 8 , 22 7 ) ( 1 1 . 1) 2 8 34 2 3 8 . 1 4 5 08 6 6 0 . 8 2 0 1 2 9 4 4 . 7 1 0 35 6 0 1 0 35 6 11 . 0 3 , 78 5 70 3 25 8 4 74 6 5 . 0 1 5 10 3 1 4 97 1 2 53 4 2 40 2 2 . 5 3 1 32 4 3 3 . 46 , 4 2 6 4 9 . 10 20 1 4 94 6 . 3 9 . 74 8 0 9 74 8 1 0 . 3 4 01 5 63 9 27 4 4 92 9 5 . 2 1 4 67 7 1 6 54 6 2 68 8 4 55 7 4 . 8 3 2 , 54 9 3 4 . 4 4 7 , 22 5 4 9 . 12 2 0 1 6 9 4 9 . 0 9 17 7 0 9 , 17 7 9 . 7 4 26 0 57 5 29 1 5 , 12 6 5 . 4 1 4 30 3 1 7 75 4 2 , 85 2 6 30 2 6 . 6 3 4 , 52 2 3 6 . 4 4 8 , 82 5 5 1 . 14 2 0 1 8 9 4 7 . 1 8 , 59 5 0 8 , 59 5 9 . 1 4 51 9 51 1 30 9 5 , 33 9 5 . 6 1 3 , 93 4 . 05 8 3 02 5 8 , 14 9 8 . 6 3 6 , 24 0 3 8 . 3 5 0 17 5 5 3 . 16 2 0 2 0 9 5 4 . 0 7 , 99 1 0 7 99 1 8 . 4 4 79 5 44 7 32 7 5 56 9 5 . 8 1 3 , 56 1 2 1 58 7 3 , 20 9 1 1 23 6 1 1 . 48 8 3 9 . 3 5 1 04 8 5 3 . 1B 2 0 2 2 9 4 6 . 7, 4 9 6 0 7 , 49 6 7 . 9 5 , OB 7 38 3 34 7 5 81 7 6 . 1 1 3 , 31 4 2 1 , 26 1 3, 4 0 5 1 1 35 2 1 ~ . 0 4 0 , 98 9 4 3 . 3 5 4 30 3 5 7 . 20 20 2 4 9 5 4 . 7 6 . 86 1 6~ 8 6 1 7 . 2 5 , 39 6 32 0 36 8 6 , 08 4 6 . 4 1 2 94 6 2 4 96 7 3 , 61 2 1 5 63 4 1 6 . 4 4 1 55 2 4 3 . 5 5 4 49 7 5 7 . Ye a r Ne t P r e s e n t V a l u e 1 0 1 , 27 6 No m i n a l L e v e l i z e d C o s t ( $ I M W h ) Re a l L e v e l i z e d C o s t ( $ I M W h ) 0 1 0 1 , 27 6 08 3 80 5 53 1 46 , 42 0 14 7 69 6 12 2 87 4 82 2 (0 ) 30 8 , 63 0 45 6 32 6 11 . (0 . fO . 35 . 29 . 53 . 42 . "" d ~ ~ IJ Q = - S" - UI "" " 0 ~ 02 A u r o r a R e s u l t s ( I R P I H R a f t e r 0 8 ) . xl s IN " " ' "'R A F f A V I S T " 50 0 /0 o f C o y o t e S p r i n g s 2 ( C C C T a n d D u c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l As s u m c t l o n s Ii n s t a l l e d C o s t 96 6 20 0 4 $ o o o s Fix e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a n c e C o s t 20 3 . 90 2 0 0 4 $ o o O s In s t a l l e d C o s t 47 8 20 0 4 $ I k W Fix e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t 00 2 0 0 4 $I d t h l d a y Pr o j e c t C a p a c i t y 14 2 . Es c a l a t i o n R a t e s Ge n e r a l l n f l a U o n 0 p e r c e n t He a t R a t e 44 4 Bt u l k W h Ax e d O & M 0 p e r c e n t . O p t i o n V a l u e 00 0 2 0 0 4 $ 0 0 0 8 Ga s U s a g e R a t e 25 . oo o s d t h l d a y Tr a n s p o r t a t i o n 0 p e r c e n t No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Fix e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c ~ To t a l F i x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t Ye a r En e r Q V Pr o i e c t Fix e d C h r To t a l os t s Fi x e d Gt r a n s Pr T a x In s u r . To t a l C o s t s Co s t s Ma r Q l n Va l u e Pr o ec t B e n e f i t To t a l V a r i a b l e C o s t Co s t s (G W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) . ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) . ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) 4 2 0 0 8 6 9 0 . 8 1 1 , 64 6 0 1 1 64 6 1 6 . 9 3 , 36 3 83 0 2 2 9 . 4 42 3 . 6 . 4 1 6 06 9 4 45 0 2 , 25 1 ( 9 , 36 8 ) ( 1 3 . 6) 2 8 , 22 9 40 . 29 8 6 4 , ; . ~~ ! , ::~ ' !i , i: i & ~ I : : : ; ! : ~ ~ ; m ~ : ~ r = ; ; : ~ : .r : lr ~ I ; ~ :l l = t C I I = I ~ = ~ = :1 r . 1 = 1 1 : : 1 ~ ~ : 1 ; ! : B 2 0 1 2 9 4 4 . 7 1 0 35 4 0 1 0 , 35 4 1 1 . ' 3 78 5 O 70 3 2 5 8 ' 4 74 6 5 . 0 1 5 , 10 0 1 4 , 97 1 2 53 4 2 , 40 4 2 . 5 3 1 32 4 3 3 . 46 , 4 2 3 4 9 . 10 2 0 1 4 9 4 6 . 3 9 74 6 0 9 , 74 6 1 0 . 3 4 01 5 0 6 3 9 27 4 4 92 8 5 . . 1 4 67 4 1 6 , 54 6 . 2 68 8 4 55 9 . 8 3 2 54 9 3 4 . 4 4 7 22 3 4 9 . 12 2 0 1 6 9 4 9 . 0 9 , 17 5 0 9 17 5 9 . 7 4 26 0 57 5 29 1 5 12 6 5 . 4 1 4 30 1 1 7 , 75 4 2 85 2 6 , 30 4 6 . 6 3 4 52 2 3 6 . 4 4 8 , 82 3 5 1 . 14 2 0 1 8 9 4 7 . 1 8 59 3 0 8 59 3 9 . 1 4 , 51 9 . 0 51 1 30 8 53 3 9 5 . . 1 3 , 93 2 1 9 05 8 3 , 02 5 8 , 15 1 8 . 6 3 6 , 24 0 3 8 . 50 , 17 3 5 3 . ': ' ::;::1 5 : : ' ; f ! 9 1 . ~: ; ~ ; J k t M 9 ~ ~ , ~m : m f 1 J ~ : ~ ' ~? ~ ~ ~ ~~ ~ ~ ~ ~ 1 f j S : ~ t \ ~ ; J ~ ~ ! ~ 1 ? ~ ? : ~ i i . i ~ 1 t r ~ E & J r : . : : D I ~ Q ~ ? t Q ~ q j ~ ~ ~ ; t l ~ ' :i r : i i , ~ ~ ~ ~ ~ ~ ~ . 1 ? l i 9 I ? t ~ J r e ~ ~ ~ ~ ~ tz i j ~ i ~ ~ : ~ 1 ~ i I i I l ~ Q i ~ 1~ ~ w . ~ ~ ~ ~ J ; ? ~ 16 2 0 2 0 9 5 4 . 0 7 , 99 0 0 7 99 0 8 . 4 4 , 79 5 44 7 32 7 5 , 56 9 5 . 8 1 3 55 9 2 1 58 7 3 , 20 9 1 1 , 23 8 1 1 . 8 3 7 , 48 8 3 9 . 3 5 1 , 04 6 5 3 . ... , . . .. . , . , . . . . , " ~.. . . . . ' . " . .'. h', '" . , . . . . , t: i ' . " " " "'" " " ~ " , . "" , ,,, , "., . , V.' . " " ~ " ' . N; ; : . ".h " ' . ! ' ! ! ' . " " '.. "" ' !ff ' . ' ~" " " " " " . '" ' *" " . . " ~ ' ... "w , ~ . ;! ' J ~ . "" " " " ' " ' . "" " " " " . ' ~" " " " " ! ! ' ! ~ ' ,\ i " " . ~" " " - " ~;" . ;!' r ' . ~ W : ' . "'. i( . " " " ' Z i ! f ' ; . . , . " ; . ,, ; ~ . , , , . . w_ " ' ~ . "'. :r : ~ . . .'. . =. " i~ ; ; ; ' ~. ' - "" " " ~~ f i . l " " " . " " ~K ~ . "" " . " . ' I ; / ! # , " " . & ' . " . . . .~ . . .. . 18 2 0 2 2 9 4 6 . 7 7 49 5 0 7 49 5 ' 7 . 9 5 , 08 7 O ' 3 8 3 34 7 5 , 81 7 . 6 . 1 1 3 , 31 2 2 1 26 1 3 40 5 1 1 , 35 4 1 2 . 98 9 43 . 3 5 4 , 30 1 5 7 . 20 2 0 2 4 9 5 4 . 7 6 B6 0 0 6 86 0 7 . 2 5 39 6 31 9 36 8 6 , 08 4 6 . 4 1 2 , 94 4 2 4 96 7 3 61 2 1 5 , 63 6 1 6 . 4 4 1 , 55 2 4 3 . 5 5 4 49 6 5 7 . Ne t P r e s e n t V a l u e 1 0 1 18 2 No m i n a l L e v e l i z e d C o s t ( $ I M W h ) Re a l L e v e l i z e d C o s t ( $ / M W h ) 0 1 0 1 18 2 08 3 . 6 , 80 3 53 1 46 , 41 7 14 7 , 59 9 12 2 , 77 7 82 2 (0 ) 30 7 19 2 45 4 79 1 11 . (0 . 35 . 28 . 52 . 42 . tr j ~ ~ (J Q = - ('D . . . . .. . . 0" 1 f " " I ' o Q ~ .. . , 02 A u r o r a R e s u l t s ( I R P I H R a f t e r 0 8 ) . xl s AV I S T , : R A F T 50 0 /0 o f C o y o t e . Sp r i n g s 2 ( C C C T a n d D u c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l As s u m c t i o n s Ii n s t a l l e d C o s t 45 5 20 0 4 $ o o O s Fi x e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a n c e C o s t 21 1 . 36 2 0 0 4 $ o o o s In s t a l l e d C o s t 49 5 20 0 4 $ l k W Fix e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t 00 2 0 0 4 $I d t h l d a y Pr o j e c t C a p a c i t y 14 2 . Es c a l a t i o n R a t e s Ge n e r a l I n f l a t i o n 0 p e r c e n t He a t R a t e 44 4 Bt u l k W h Fix e d O & M 0 p e r c e n t Op t i o n V a l u e 00 0 2 0 0 4 $ o o o s Ga s U s a g e R a t e 25 . oo o s d t h l d a y Tr a n s p o r t a t i o n 0 p e r c e n t No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Fix e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l F i x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r Q V Pr o i e c t Fix e d C h r To t a l C o s t s Fi x e d Gt r a n s Pr T a x In s u r . T ota l os t s Co s t s Va l u e Pr o ec t B e n e l i t ot a l V Co s t Co s t s (G W h ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) 6 . :: " ' : ' .. ~r . ~ : " ' ':' : ' ~ . :" " : ' : ' : . :'; ' : ' : ; : ' : . :': ' : " ':. : ' ~. . : . ... ~ . ' . O : . : " : ' : ' ; . ! ' : " ?: . : ' : ' '.: . : ' : ' : ; : . : . '.' : ' "J : " " ; " : ~ ' : . ~': ' : ' : : F " ) ' ~ ' ~ ' ~" " " ' ; ; : ' 1 i ' . : ( " '1 , ; . ( . ; , ::~ ~ A2 ' ?~ ~ ' 1 ~ ~" ' r ~ ~ . .. : ~" 1 ; . . qi ! " "- " ' ; ' * i ' ?; ' %'. " " ' ~ ; ' ~~ ~ " ~ ~ ~ " ~" : ( . ~ , J~ ! . ';. ( : ~ ~ ~ :: ' ;, n ~ ~~ ~ ~ ~i : f . ~ :J ~ w. : ; : j~ ~ ~ ,Y . t ' ~ " :: . . . ' \ : : , : : , . . . ~ ; . . : / ' :: ( . . i . . . . /~ ; ~ : ~ : ~~ ~ : ; : ; * : * ; ' ,: . . : ::: : : + ~ . ... " ;:: ; i ! : ; ~ : ; ~ : \ Y~ : : ; ; ; ~ : ; . i I ~ , :S ~ . :~ ~ 4 f . ~ ~ ~ ~ , , :i ~ : ; ~ ~ r ' ; t : \ , . . ~~ 1 ~ ~ ; ; , : i \ ~ i t : ~~ ; : ~ : ; , ~ ~ ~ h ? , , H~ i ; & t 1 . r & i . : ~ : ' i t ~ : J ~ 2 i E ~ ~ t " ~ _ i:~ : , . \ : J . , :; i . ~ 1 ~ ; ! , i. ~ . ~~ ~ ~ I ' j * , - ~ , ~, . . ~:: : : ; i ; ~ : J , ; J ' " , :!$ . ~ ~ ~ , ~~ ~ \ : . , ;: . . ~ ~ \ i ~ t L . . . :~ . . 'f " * ' ~ ~ " t R ' S j : ! i \ ~ ; ; : , g p , ; ; ; . : t " , ~" ' : ' ~ ~ h f J ~ " ! . :; , . 4 2 0 0 B 8 6 2 , 7 1 2 , 00 2 0 1 2 00 2 1 3 . 9 3 , 36 3 86 1 23 8 4 46 2 5 . 16 , 4 6 4 1 0 69 7 25 1 ( 3 , 51 6 ) ( 4 . 1) 2 7 91 4 3 2 . 4 4 4 , 37 8 5 1 . 8 2 0 1 2 8 9 1 . 4 1 0 69 4 0 1 0 69 4 1 2 . 0 3 , 78 5 72 8 26 8 4 78 1 5. 4 1 5 47 6 1 2 , 73 3 2 53 4 (2 0 9 ) ( 0 . 2) 3 1 80 2 3 5 . 7 4 7 , 27 7 5 3 . 10 2 0 1 4 89 0 . 4 1 0 09 3 0 1 0 09 3 1 1 . 3 4 01 5 66 2 28 4 4 96 2 5 . 6 1 5 , 05 5 1 3 , 44 2 2 68 8 1 , 07 4 1 . 2 3 3 , 69 4 3 7 . 8 4 8 , 74 9 5 4 . 12 2 0 1 6 8 9 1 . 3 9 50 4 0 9 50 4 1 0 . 7 4 26 0 59 6 30 1 5 15 7 5 . 8 1 4 66 1 1 4 33 9 2 , 85 2 ' 2 52 9 2 . 8 3 5 , 78 8 4 0 . 2 5 0 , 45 0 5 6 . . . 14 2 0 1 8 . 89 2 . .. ' . ' 8; 9 2 1 . ., . . . . . . . , . . . . . . 92 1 , . .. . " 1o j f 51 9 . . 53 0 32 0 5 , 36 9 6 . 0 1 4 29 0 1 5 , 14 6 3 02 5 3 , 88 1 4 . 3 3 7 99 6 4 2 . 6 5 2 28 6 5 8 . 16 2 0 2 0 8 9 3 . 0 8 34 5 0 8 , 34 5 9 . 3 4 79 5 46 4 3 3 9 . 5 , 59 7 6 . . 1 3 , 94 3 1 6 13 8 3 , 20 9 5 , 40 5 6 . 1 4 0 , 35 6 . 4 5 . 54 , 29 9 6 0 . 18 2 0 2 2 8 9 1 . 6 7 77 2 0 7 77 2 8 . 7 5 , 08 7 39 7 36 0 5 , 84 4 6 . 6 1 3 , 61 6 1 7 06 7 3 , 40 5 6 , 85 6 7 . 7 4 2 , 73 2 4 7 . 9 5 6 , 34 8 6 3 . 20 2 0 2 4 89 2 . 4 7 21 3 0 7 , 21 3 8 . 1 5 , 39 6 33 1 38 2 6 , 10 9 6 . 8 1 3 32 2 1 8 , 16 1 3 , 61 2 8 , 45 2 9 . 5 4 5 , 39 0 5 0 . 9 5 8 , 71 2 6 5 . Ye a r Ne t P r e s e n t V a l u e 1 0 4 64 8 No m i n a l L e v e l i z e d C o s t ($ 1 M W h ) Re a l L e v e l i z e d C o s t ( $ / M W h ) 0 1 0 4 64 8 08 3 05 3 62 3 46 , 75 9 15 1 40 7 12 6 , 58 5 82 2 (0 ) 31 4 79 6 46 6 20 3 12 . (0 . (0 . 36 . 29 . 54 . 43 . ~ ~ fJ C I = - (t ) _ . J- 8 ... . . . , J . . . . 0 ~ ... . , 03 A u r o r a R e s u l t s ( 1 0 5 0 0 H R ) . xl s AV I S T If' " 'l " . " f l A F T 50 0 /0 o f C o y o t e S p r i n g s 2 ( C C C T a n d D u c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l !I n s t a l l e d C o s t In s t a l l e d C o s t Pr o j e c t C a p a c i t y He a t R a t e Ga s U s a g e R a t e 0 p e r c e n t 0 p e r c e n t As s u m p t i o n s In s u r a n c e C o s t Ga s T r a n s p o r t Ge n e r a l I n f l a t i o n Op t i o n V a l u e 21 1 . 41 2 0 0 4 $ o o O s 00 2 0 0 4 $/ d t h / d a y . 3 . 0 p e r c e n t 00 0 2 0 0 4 $ o o o s No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t 70 , 4 7 1 2 0 0 4 $ o o o s 49 5 2 0 0 4 $ / k W 14 2 . 3 M W 44 4 B t u l k W h 25 . 4 o o o s d t h / d a y Fi x e d C h a r g e Fi x e d O & M Es c a l a t i o n R a t e s Ax e d O & M Tr a n s p o r t a t i o n 0 2 0 0 4 $ p e r kW - m o 75 2 0 0 4 $ p e r kW - m o Fi x e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l F i x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r o v Pr o j e c t Fi x e d C h r To t a l C o s t s Fi x e d Gt r a n s Pr T a x In s u r , To t a l C o s t Co s t s Ma r c i n Va l u e Pr o ec t B e n e f i t ot a l V a r ble os t s Co s t s (G W h ) ($ 0 0 0 s ) ($ 0 0 0 s ) . ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 s ) ($ 0 0 0 9 ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ h . 1 W h ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) 4 2 0 0 8 74 8 . 1 1 1 , 83 7 0 1 1 83 7 1 5 . 8 3 , 36 3 86 1 2 3 8 . 4 , 4 6 2 . . 6 . 0 1 6 , 29 9 1 0 , 59 5 2 25 1 ( 3 , 4 5 3 ) . ( 4 . 6) 2 4 , 41 8 3 2 . 6 4 0 , 71 8 5 4 . B 2 0 1 2 8 9 1 . 4 1 0 , 69 6 0 1 0 , 69 6 1 2 . 0 3 , 78 5 72 9 26 8 4 78 1 5. 4 1 5 47 8 1 2 73 3 2 , 53 4 (2 1 1 ) ( 0 . 2) 3 1 , 80 2 3 5 . 7 4 7 , 28 0 5 3 . 10 2 0 1 4 8 9 0 . 4 1 0 09 5 0 1 0 09 5 1 1 . . 4 01 5 66 2 28 4 4 96 2 5 . . 1 5 05 7 1 3 44 2 .. 2 68 8 1 , 07 2 1 . 2 3 3 69 4 3 7 . 8 4 8 , 75 2 5 4 . 12 2 0 1 6 8 9 1 . 3 9 50 6 0 9 50 6 1 0 . 7 4 26 0 59 6 30 1 5 , 15 8 . 5 . 8 1 4 66 3 1 4 33 9 2 85 2 2 52 7 2 . 8 3 5 , 78 8 4 0 . 2 5 0 45 2 5 6 . ' ~ : ; ~; : ; : : ; m . i : : : i E : : : a : ~ : i ; I : : 1 f ~ ~ : f J C = 1~ T : I :; = = ~ r . : 1 i C JI C : ! ~ C ~ : r CC ~ ~ a: I ~ ; 16 2 0 2 0 8 9 3 . 0 8 34 7 0 8 , 34 7 9 . 3 4 79 5 O . 4 6 4 33 9 5 59 8 6 . 3 1 3 , 94 4 1 6 13 8 3 , 20 9 5, 4 0 3 . 6 . 1 4 0 , 35 6 4 5 . 2 5 4 , 30 0 6 0 . 18 2 0 2 2 8 9 1 . 6 7 77 3 0 7 77 3 8 . 7 5 , 08 7 39 7 36 0 5 , 84 4 6 . . 1 3 , 61 7 1 7 , 06 7 3 , 40 5 6 85 5 7 . 7 4 2 , 73 2 4 7 . 9 5 6 , 34 9 6 3 . .: . . . . ... .., . . .: . .'. ' ' . S," ' t . 1- ' . .0 . *" . ,. . . : ; . . " , . , , ; . ,.. . "," ' "'. "" ' :: r . '/. "~ " "" " " " .:i ' "" ' ~ . ';! " ' : ' . ~:" : ", ~ , ~" " " " , ; ~ "" ; , , , , , . .~ ~ , . t( . :t~ ~~ " 1 i 1 7 ! i " " . ~ ' i!; ' . ,:. p . l " " - ~ ' ~" " " W" f ' , l , " ' " : 1 ' - " . :;; " ' : ' . I " " i;' ; ' / " ' '. '~ . "" I " ~ ~ "" . ' " . " " " ' , " ' . 'H " "" " ~ ~ ' / i!" " '~ " ! i ' . ' ? i ; ; ; " . "" ' ~; " . _" f j j ~ . '~ A ~ " ~ " " ' "u . ' " ' dl " " ~ ' ~ " ' . "'. '.' . 19 . : ; ; 20 2 3 ; ' ; = : 0 : : : ' ; ; ; : ; . . . . . :::5:~ : : i \ : ~ ' J ~ 4 ~ 7 / l i ! : ~ : / i : ! ~ ~ ( 8 : : : ~ : : :: : Q : : : : : ; : l ~ : g ~ ~ ~ ? : ~ ; : ~ : : ~ : : ~ : ; ~ ! : : : ;; ! H W ~ ~ l i ~ i : ~ . ;~ ~ . :~ q : i f ~ ~ J ? ~ ~ ~ : t P t f ~ r ~ ~ ~ ~ ~ , ?: t J ; . ~,W ~ 7 . i P o B / t ! ! i . ~ ~ ~ - ! * ~ ~ j " . i: ~ ~ 1 ? ~ ' % l ~ . . ~! . ) ~ ~ ; s w J t ~ % 1 ~ ~ ~ I ? , . :'~ ; : , ~ t ; ' t 7 ' . z r, j ~ i B ~ , P . . ' ::~ ~ : . ;f ~ 1 1 ; i ~ 1 ! q~ P i ~! ~ 1 , . ; t J ~ $ . . . ;~ : '~ $ r , ~ i ~ i ~ ? ~ i . ~ ~ . . ? e ~ . =! ~ ~ 8 ~ ~ 1 : ; ~ : :~ ~ . !? ' : ! : ~ ~ ~ ~ ~ f r ~ ~ ; ~ ; 20 2 0 2 4 8 9 2 . 4 7 , 21 4 0 7 21 4 8 . 1 5 , 39 6 0 33 1 38 2 6 10 9 6 . 8 1 3 , 32 3 1 8 , 16 1 3 , 61 2 8 45 0 9 . 5 4 5 , 39 0 5 0 . 9 5 8 , 71 3 6 5 . Ye a r Ne t P r e s e n t V a l u e 1 0 4 00 3 No m i n a l L e v e l i z e d C o s t ( $ / M W h ) Re a l L e v e l l z e d C o s t ( $ / M W h ) 0 1 0 4 00 3 08 3 . 7 , 05 4 62 4 46 , 76 1 15 0 76 4 12 5 , 94 2 82 2 (0 ) 30 0 , 89 3 45 1 , 65 7 12 . 10 . (0 . 36 . 29 . 54 . 43 . "" ' d t f j ~ ~ (J Q = - .. . . .. . . CO f" " I " - 0 - 03 A u r o r a R e s u l t s ( 1 0 5 0 0 H R ) . xl s A V I S T ' . ' T! ' 'N ' . " ' R A F T 50 0 /0 o f C o y o t e S p r i n g s 2 ( C C C T a n d D u c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l As s u m p t i o n s II n s t a l l e d C o s t 14 4 20 0 4 $ O o o s Fix e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a n c e C o s t 13 8 . 43 2 0 0 4 $ o o o s In s t a l l e d C o s t 32 4 20 0 4 $ / k W Fix e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t 00 2 0 0 4 $/ d t h l d a y Pr o j e c t C a p a c i t y 14 2 . Es c a l a t i o n R a t e s Ge n e r a l I n f l a t i o n 0 p e r c e n t He a t R a t e 44 4 Bt u l k W h Ax e d O & M 0 p e r c e n t Op t i o n V a l u e 00 0 . 20 0 4 $ o o o s Ga s U s a g e R a t e 25 . oo o s d t h l d a y Tr a n s p o r t a t i o n 0 p e r c e n t No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Fi x e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l A x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r c 1 V Pr o j e c t Fix e d C h r To t a l C o s t s Ax e d Gt r a n s Pr T a x In s u r . To t a l C o s t s Co s t s Ma r a i n Va l u e Pr o ec t B e n e f i t ot a l V a r i bl e C o s t s Co s t s (G W h ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ i M W h ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ / M W h ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ i M W h ) ($ 0 0 0 5 ) ($ i M W h ) ($ 0 0 0 5 ) ($ J M W h ) . . .' : : . : : . . ' 1 . " ' 20 0 5 . ::: : : 5 : 7 4 6 ; ~m : m ; M l ; , ~; ?( ) ~ : : fil ~ % ~ J ~ i l i ~ ; ~ t J H m \ ~ ! p ; ? P ~ : ~W 2 ~ \ ' ?4 : ~ ~ ~ ~ ~ t * ~ ~ i j t ~ M ~ ~ ~ 1 ~ ~ ~ i U t ~ ~ i ~ * I ~ . g~ J J t w . W ~ t 1 . ~; . ; r : ~ . ~l ~ 1 9 ~ f i l ~ j ~ ~ i i 1 i l i l l ~ l ~ ~ 9~ 1 . r ~ l t ~ ; J r ~ ; M ~ 1 0 f r i ~ ~ ?': ; Q ~ Q . ~ : . t; t ! : t ~ ~ ~ I 1 )I 1 ) ~ ~ ~ j ~ ; 9 ) . ~ J i l i f ? a : ~! 9 ~ l ; f i ~ r ~ ~ : ~ 1~ ! J i ~ j l ~ j W $g : E ~ ~ i l i ~ ~ ; ~ : ' 8 2 0 1 2 7 7 7 . 4 7 , 57 3 0 , 57 3 9 . 7 3 , 78 5 47 7 17 5 4 43 7 5 . 7 1 2 01 0 9 , 13 3 2 53 4 (3 4 4 ) ( 0 . 4) 3 1 39 9 4 0 . 4 4 3 41 0 5 5 . 10 2 0 1 4 7 8 1 . 6 7 19 5 0 7 19 5 9 . 2 4 01 5 43 4 18 6 4 63 5 5 . 9 1 1 , 83 0 1 0 21 0 . 2 68 8 1 06 8 1. 4 3 2 , 87 6 4 2 . 1 4 4 70 6 5 7 . 12 2 0 1 6 7 9 8 . 7 6 , 84 9 0 6 84 9 B . 6 4 26 0 39 0 19 7 4 84 8 6 . . 1 1 , 69 7 1 1 , 48 1 2 , 85 2 2 63 5 3 . 3 3 5 , 01 0 4 3 . 8 4 6 , 70 7 5 8 , 20 1 8 " ' . . 80 7 . ' 6 . ' . 6; 4 9 2 '" . . . . . 0. . . " . . 6; 4 9 2 . . ,. . ' 0 . " ' . 51 9 . ' n " 0" .. . 3' 4 7 ' o . " " 20 9 5;o i s . ' 3. ., . f 1 ' 56 8 . . . . 2; 7 3 9 : " . 02 5 . ". ' . ' . 1' 9 6 " . . sj i ". . . 36 ; E i s 4 " . 4 . 5) . . - . . " 48 ; 4 5 2 Oh . ' 6 0 . ' 0 16 2 0 2 0 8 2 9 . 8 6 16 9 . 6 16 9 7 . 4 4 79 5 30 4 22 2 5 32 0 6. 4 1 1 49 0 1 4 24 8 3 20 9 5 , 96 7 7 . 2 3 9 , 47 0 . 4 7 . 6 5 0 95 9 . 6 1 . 4 18 2 0 2 2 8 4 2 . 4 5 83 2 0 5 83 2 6 . 9 5 08 7 0 2 6 0 . 2 3 6 5 , 58 3 6 . 6 1 1 , 41 4 1 5 , 79 9 3 , 40 5 7 , 78 9 9 . 2 4 1 , 72 1 4 9 . 5 5 3 , 13 5 6 3 . . . : . ~: i: :1 9 : : ; : : 20 2 : 3 : l : : : : ; ~ 0: i: ~ $ ~ ~ . ~ ; : : ~1 a t~ $ ~ ~ i j Q ; ~ f 0 ~ i l i W;; ~ l 1 i : j p j ~ W t ~ i ~i~ ~ P : l l \ ~ ~ ~ I ~ ~ ; It . ~ ! ~ i ~ i ? ~~ : i ~ . ~ ~ i f : Q _ f i g ~~ ~ . ~. . ~ ~ j l ~ ~~ l r f l i ~1 ~ ~ ~ ( ~ J . ~ ~ . t: t ~ 1 ( 1 ; i . ~ ; ~ 4 , ~f . ~ f : r o ~Q if; : : r~ . i ; i j JZ ~ ff ~ _ i p . ~ ~ ! ; ~: I i ! ~ l ~~ ~ _ f ( ~ J t r ~F i l r : l ( ~ ; ~ ? Q J 1 t t i t i ~ . ~. ( J i . ~ 20 2 0 2 4 8 7 7 . 3 5 55 6 0 5 , 55 6 6 . 3 5 , 39 6 21 7 25 0 5 , 86 3 6 . 7 1 1 41 9 1 7 , 56 8 3 , 61 2 9 , 76 1 1 1 . 1 4 5 , 24 1 5 1 . 6 5 6 , 66 0 6 4 . Ye a r Ne t P r e s e n t V a l u e 7 4 , 20 2 No m i n a l L e v e l i z e d C o s t ( $ / M W h ) Re a l L e v e l i z e d C o s t ( $ / M W h ) 74 , 20 2 37 , 08 3 . 4 61 9 71 8 43 . 42 0 11 7 , 62 2 80 0 24 , 82 2 31 1 , 62 6 42 9 , 24 8 40 . 32 . 55 . 45 . tr 1 ~ ~ (J Q : : r !' \ ) . . . . 8" - \C ) ~ 0 ~ 01 A u r o r a R e s u l t s ( i n c r e a s i n g I H R ) . xl s . - ~ . QA F T AV I S 1 50 0 /0 o f C o y o t e S p r i n g s 2 ( C C C T a n d D u c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l As s u m p t i o n s !l n s l a l l e d C a s I 46 , 15 9 ~0 O 4 $ O O O s Fi x e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a n c e C o s t In s t a l l e d C o s t 32 4 20 0 4 $ / k W Ax e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t Pr o j e c t C a p a c i t y 14 2 . Es c a l a t i o n R a t e s Ge n e r a l I n f l a t i o n He a t R a t e 44 4 Bt u l k W h Fi x e d O & M 0 p e r c e n t Op t i o n V a l u e Ga s U s a g e R a t e 25 . oo o s d t t V d a y Tr a n s p o r t a t i o n 0 p e r c e n t . . 13 8 . 48 2 0 0 4 $ O O O s 00 2 0 0 4 $I d t h l d a y 0 p e r c e n t 00 0 2 0 0 4 $ o o o s No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Fix e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l F i x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e m y Pr o i e c t Fi x e d C h r To t a l C o s t s Fi x e d Gt r a n s Pr T a x In s u r . To t a l C Co s t s Me m i n Va l u e Pr o ec t B e n e f i t ot a l V a r i a b l e C o s t s Co s t s (G W h ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 s ) ($ l M W h ) 4 2 0 0 8 73 1 . 4 8 37 6 ~O 8 37 6 1 1 . 5 3 , 36 3 0 5 6 4 . 1 5 6 4 08 3 5 . 12 , 4 5 8 6 49 1 2 , 25 1 ( 3 , 71 6 ) ( 5 . 1) 2 7 82 1 3 8 . 0 4 0 , 28 6 5 5 . 20 1 2 ji7 . 4 S7 5 . . . . , " ' . . . . 7~ 5 7 S '" " " 9: 7 ' . , . . . . . . 3, i E J 5 . . h . . . . . .. . ( i . . , " 47 7 . . " " ' 17 5 . ' . '.' . 43 8 . , . . . 5: 7 . . . . . . , . . () 1 3.. . . ~U 3 3 ..' 2; 5 3 4 '. . " . (3 4 6 f . " ' . " (0 : 4 ) . . . 3 f 39 9 ' .. ' 40 . 4. . .. . . ' 43 ~ 4 1 2 ' " " . ' 55 : a 10 2 0 1 4 7 8 1 . 6 1 19 6 0 7 19 6 9 . 2 4 01 5 43 4 . 18 6 4 63 5 5 . 9 1 1 , 83 2 1 0 21 0 2 68 8 1 06 6 1 . 4 3 2 87 6 4 2 . 1 4 4 , 70 8 5 7 . 12 2 0 1 6 7 9 8 . 7 6 , 85 1 0 6 85 1 . 8 . 6 4 , 26 0 39 0 19 7 4 84 8 6 . 1 1 1 69 9 1 1 48 1 2 85 2 2 , 63 4 3 . 3 j 5 01 0 4 3 . 8 4 6 , 70 8 5 8 . 14 . 20 1 8 . ' 80 7 : 6 '. . " 6; 4 9 3 .. ' . " " . " " . ' . 0 . 49 3 . , . .. ' . 8~ O . .. . ". 4 ; 5 1 ' 9. " ' . . 0" . " . 34 7 . ' ~i C ) 9 ' " . . 5~ o j 6 . . 0 . ". t 3 . ~ f . , . . . n ; 5 6 9 . . ' fi ) 3 ! i . " 3 02 5 . . " 4; 1 9 5 . ' . 5: 2 '" " 36 ; 8 8 4 . ' . ,. . ' 48 ; 4 5 3 00 , . 60 : 0 16 2 0 2 0 8 2 9 . 8 6 17 1 0 6 , 17 1 7. 4 4 79 5 30 4 22 2 5 , 32 1 6 . 4 1 1 , 49 1 1 4 24 8 3 20 9 5 , 96 6 7 . 2 3 9 , 47 0 4 7 . 6 5 0 96 1 6 1 . 18 2 0 2 2 8 4 2 . 4 5 . 83 3 0 5 , 83 3 6 . 9 5 , 08 7 26 0 . 2 3 6 . 5 . 58 3 6 . 6 1 1 . 41 6 1 5 . 79 9 3 40 5 7 , 78 8 9 . 2 4 1 72 1 4 9 . 5 5 3 13 7 6 3 . 20 2 0 2 4 8 7 7 . 55 7 a 5 , 55 7 6: 3 5~ 3 9 6 0 2 1 1 . 2 5 0 5~ 8 6 3 6 . . 1 42 0 1 7 , 56 8 3 , 61 2 . 9 , 76 0 1 1 . 1 . . 45 . 24 1 5 1 . . 5 ~ , 66 1 . 64 . Ye a r Ne t P r e s e n t V a l u e 7 4 , 09 1 No m i n a l l e v e l i z e d C o s t ($ I M W h ) Re a l l e v e l i z e d C o s t ($ / M W h ) 09 1 08 3 62 0 71 9 43 , 4 2 2 11 7 , 51 3 92 , 69 1 82 2 (0 ) 30 8 93 2 42 6 , 44 5 (0 . (0 . 40 . 32 . 55 . 45 . = ~ (J C : / = - N 8 : Qf " " t o - Q ~ 01 A u r o r a R e s u l t s ( i n c r e a s i n g I H R ) . xl s AV I S T J IN ' . " " ' RA F T 50 0 / 0 o f Co y o t e S p r i n g s 2 ( C C C T a n d D u c t Bu r n e r ) Ec o n o m i c A n a l y s i s D e t a i l As s u m p t i o n s Ii n s t a l l e d C o s t 11 6 92 3 20 0 4 $ o o o s Fi x e d C h a r g e 0 2 0 0 4 $ p e r kW - m o In s u r a n c e C o s t 3~ 0 . 77 2 0 0 4 $ o o o s In s t a l l e d C o s t 82 2 20 0 4 $ / k W Fix e d O & M 75 2 0 0 4 $ p e r kW - m o Ga s T r a n s p o r t 00 2 0 0 4 $I d t h l d a y Pr o j e c t C a p a c i t y 14 2 . Es c a l a t i o n R a t e s Ge n e r a l I n f l a t i o n 0 p e r c e n t He a t R a t e 44 4 Bt u / k W h Fix e d O & M 0 p e r c e n t Op t i o n V a l u e 00 0 2 0 0 4 $ o o o s Ga s U s a g e R a t e 25 . oo o s d t h l d a y Tr a n s p o r t a t i o n 0 p e r c e n t No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t Fix e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l F i x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r a v Pr o j e c t Fi x e d C h r To t a l C o s t s Fi x e d Gt r a n s Pr T a x In s u r . To t a l C Co s t s Ma r a i n Va l u e Pr o ec t B e n e fi t To t a l V a r i a b l e C o s t Co s t s (G W h ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ 0 0 0 s ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ 0 0 0 s ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) 2 2 0 0 6 8 2 2 . 5 2 0 21 5 0 2 0 21 5 2 4 . 6 3 , 17 0 0 1 . 53 9 37 2 5 . 08 1 6 . 2 2 5 29 6 6 23 5 2 . 12 2 ( 1 6 , 93 8 ) ( 2 0 . 6) 2 5 . 57 3 3 1 . 1 5 0 , 86 9 6 1 . !: : : : : ; , ;i * : : ; :: : ! ~ ~ ~ : ~ ~ : I : ~ U ~ ; i ~ : ~ : ~ ~ : j E r =~ : ~ C I C ~ ; : l C ~ 1 ~~ C ~ ~ ~ ~ ; 1 : ; T ~! ~ w = ; r ; : ; i : 8 2 0 1 2 7 8 5 . 9 1 6 , 48 1 0 1 6 48 1 2 1 . 0 3 . 78 5 0 1 , 20 9 44 4 5, 4 3 8 6 . 9 2 1 . 91 9 1 9 93 0 2 . 53 4 54 5 0 . 7 2 8 81 2 3 6 . 7 5 0 , 73 1 6 4 . 10 2 0 1 4 6 9 2 . 6 1 5 , 22 7 0 1 5 , 22 7 2 2 . 0 4 . 01 5 0 1 09 9 47 1 5 , 58 6 8 . 1 2 0 . 81 3 2 1 95 8 . 2 68 8 3 . 83 2 5 . 5 2 6 75 9 3 8 . 6 4 7 . 57 2 6 8 . 12 2 0 1 6 7 2 4 . 3 1 4 23 1 0 1 4 23 1 1 9 . 6 4 , 26 0 98 9 50 0 5 , 74 9 7 . 9 1 9 98 0 2 3 , 44 4 2 85 2 6 , 31 5 8 . 7 3 0 01 6 4 1 . 4 4 9 . 99 6 . 6 9 . 20 1 8 . 66 0 : 6 . ' 13 ; 0 2 4 . " ' . '" . . " .. . ' . 13 , 02 4 " " ' 19 . f . . ' " 4; 5 1 . 9' , , " " ' 0" . '" " aif f ' n . . " " . 53 1 . . . . 5; 1 ) ' 2 9 , . ,. t i . "" . . 8; 9 5 3 . ' . 0 . 23 , 72 : i -- 3i) 2 5 ' . " '; 7 9 5 . . . . .. ' ff a . ' . 86 5 . . . 4i i . . .. . 4 7 ; 8 i 8 . . ' . . i2 . 16 2 0 2 0 7 1 1 . 1 1 2 02 5 0 1 2 , 02 5 1 6 . 9 4 , 79 5 76 9 56 3 6 . 12 7 8 . 6 1 8 , 15 2 2 6 54 3 3 20 9 1 1 60 0 1 6 . 3 3 2 . 04 1 4 5 . 1 5 0 , 19 3 7 0 . 18 2 0 2 2 7 9 8 . 2 1 1 13 4 0 1 1 13 4 1 3 . 9 5 . 08 7 0 . 65 9 5 9 7 . , 6 . 34 3 7 . 17 , 4 7 7 2 5 91 9 3, 4 0 5 1 1 84 7 1 4 . 8 3 7 . 44 0 ' 4 6 . 9 5 4 91 8 6 8 . 20 2 0 2 4 9 7 5 . 7 1 0 . 59 5 0 1 0 59 5 1 0 . 9 5 . 39 6 54 9 63 4 6 , 57 9 . 6 . 7 1 7 . 17 4 1 8 8 85 9 3 , 61 2 1 7 5 , 29 7 1 7 9 . 7 5 0 11 8 5 1 . 4 6 7 35 2 6 9 . Ye a r Ne t P r e s e n t V a l u e 1 6 0 , 80 1 No m i n a l L e v e l i z e d C o s t ( $ / M W h ) Re a l L e v e l i z e d C o s t ( $ / M W h ) 0 1 6 0 80 1 08 3 70 4 35 3 14 0 21 3 94 1 18 9 , 11 9 24 , 82 2 (0 ) 27 8 , 20 1 49 2 , 14 2 21 . 17 . 7; 2 (0 . (0 . 37 . 30 . 66 . 54 . ~ ~ IJ C I = - .. . 0'" N . . . ~. . . . . 0 ~ 04 A u r o r a R e s u l t s ( I R P P r i c e s ) . xl s A V I S T A IN T ' "'R A F T 50 0 /0 o f C o y o t e S p r i n g s 2 ( C C C T a n d D u c t B u r n e r ) Ec o n o m i c A n a l y s i s D e t a i l jl n s t a l l e d C o s t In s t a l l e d C o s t Pr o j e c t C a p a c i t y He a t R a t e Ga s U s a g e R a t e 0 p e r c e n t 0 p e r c e n t As s u m c t i o n s In s u r a n c e C o s t Ga s T r a n s p o r t Ge n e r a l I n f l a t i o n Op t i o n V a l u e 34 9 . 15 2 0 0 4 $ o o o s 00 2 0 0 4 $/ d t h / d a y 0 p e r c e n t 00 0 2 0 0 4 $ 0 0 0 $ No m i n a l D i s c o u n t Re a l D i s c o u n t 2 p e r c e n t 5 p e r c e n t 11 6 38 5 2 0 0 4 $ O o o s 81 8 2 0 0 4 $ / k W 14 2 . 3 M W 44 4 B t u l k W h 25 . 4 o o O s d t h / d a y Ax e d C h a r g e Fi x e d O & M Es c a l a t i o n R a t e s Fi x e d O & M Tr a n s p o r t a t i o n 0 2 0 0 4 $ p e r kW - m o 75 2 0 0 4 $ pe r k W - m o Fix e d C o s t s it a l R e c o v e an d M i s c e l l a n e o u s er a t i o n s & M a i n t e n a n c e To t a l A x e d Op e r a t i n g Op t i o n Ne t To t a l P r o j e c t En e r g y Pr o i e c t Fix e d C h r To t a l C o s t s Fi x e d Gt r a n s Pr T a x In s u r . To t a l sts Co s t s Ma n : J l n Va l u e Pr o ec t B e n e f i t To t a l V a r i a b l e C o s t s Co s t s (G W h ) ($ 0 0 0 s ) ($ 0 0 0 5 ) . ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ 0 0 0 5 ) ($ l M W h ) ($ 0 0 0 5 ) ($ l M W h ) ($ o O O s ) ($ l M W h ) . ~ . ..~ .'~ \i . ~ m . i W ;: k ~ ; M i t ~ ~ ~ w . a ' ); ; ; i ~ ; ~ : ; f ? : ; t 1 J ) j ; , ~~ $ ~ ~ ~ ; ' ~ \ i * ; J ~ J i f ? i ~ ~ ; ~ ~ ~ ~ ~ ~ f ~ ~ ~ l f . ! l I ) ~ ~ ( ~; ; ) J h ! \ ~ i G ; ; ; ! t! ~ j ~ i ~ " ~ ~ ~ ~ 1 i ... ; . . ~; ~ % , j ) t ~ ~ ; ~ N ~ t ; ~ ; ; t ~ : M : f ; j f # k t Z ! " j d . ~ ; j ~ * w : ~ ~ ~ j ~ ! i 1 j \ i ~ : W J : I t , : m ~ . M' . f f i ~ ~~ ~ # ~ sj j f ~ ~ : J ~ B3 i t ~ ~ ~ ~ ~ ~~ ; ~ ~ t _ ~ ~ ~ ~ - ~ ~; ; j ~ ~ ; ~ i 8 2 0 1 2 7 8 5 . 16 , 4 1 2 16 ~ 4 1 2 2 0 . 9 3 , 78 5 0 1 , 20 3 44 2 5 43 1 6 . 9 2 1 84 2 1 9 93 0 2 53 4 62 1 0 . . 2 8 , 81 2 3 6 . 7 5 0 65 4 6 4 . ::: : " . . :;: : : : ':: : : :: : : ! ' :: , ~ : l ' ' " . . . :! ' : ; 1 ; : " ' i ' ~ ; : i ! ' ) ~ : r ~ W : ' : ::; ~~ ' :'i /; m ~ ~ ; P 2 :: : t 1 ; % f ( 0 - ' : . .99 t ' : ' ~ ?~ ~ 1 ; ) ~ : ~ ; , : ( f 8 ' : ; N ~ " +4 ' ~~ ~ ~ 1 ~ 0 4 5 '!" :;5 03 ? " , f t , 1 f ~~ J j i 7 ' : : 6 ~ ~ r ~ 1 ~ ~ 2 :f 2 !~ ~ ~ 1 2B " '; ~ ~ 1 ' : ; ) Y 2 ~i f ' :!; ~ ~F c : ' ~: 2 34 0 ~ W E j ~ ~: ~ ~ : 3 : ' " ! r r - ~~ i ! ; ' ; j . '~ . ! ! ! I t 0 J:O ~ ~ I i ~ ~ ~ g . 1 ~ t f 2Y . ~ 8 j : i t 8 : : ,.. , . . : . .. . : . ' . : : : ; ' . : ' : ::" . . . . , . . ,, : : , : ' : ~ : : :l. . ,.. ,: ; , ; : , ~ : i ~ r ~ " , 1j: J ; ; . : : : : , . ;,. :: : : : . , : : ~ . .. " . ,: " , - , , ; , , ; , ::: .. . . . :; ; ; ; ~ ~ : ; . . : "" . ,: ; " , :" , ( , ' ; ~ : " ':: : :" , g . ; i ' , : ; : f i ~ . ': . :" . f., ~ t * " , ; ; : : " ;:& # l ' 1 " . ;,, , . :,' W~ " ; ; ' ~ 1 " ' : ; o ! " ~~ " " " " i ' ! ' + " ~- , :,. ." . ,:; , ; . . , . . : , , , ~,. ;;f : " ' ; ' : t . : . : . . , . / ; ' : :: : " - : : ' : ; : : .:' , ",: " " , , #.~ u.. . . ; ; : . ~, :) : : i ! S # . : ~ ! J I : \ , , :~ , . i1 ' . ; ~ : o i i ~ s - : . : - ; , , . ;~ j ~ : : ! " " " " . . . . . * , . '.. ,.u .: . ?:* - : p . ; S i : ; . - . ,. , . 10 2 0 1 4 6 9 2 . 6 1 5 , 16 4 0 1 5 16 4 2 1 . 9 4 01 5 0 1 09 4 46 9 5 , 57 9 8 . 1 2 0 , 74 3 2 1 95 8 2 68 8 3 , 90 3 5 . 6 2 6 75 9 3 8 . 6 4 7 , 50 1 6 8 . 12 2 0 1 6 7 2 4 . 3 1 4 . 17 3 0 1 4 , 17 3 1 9 . 6 4 26 0 98 5 49 8 5 . 74 2 7 . 9 1 9 , 91 5 2 3 , 44 4 2 85 2 6 38 0 8 . 8 3 0 01 6 4 1 . 4 4 9 , 93 1 6 8 . 14 2 0 1 8 6 6 0 . 6 1 2 97 1 0 1 2 , 97 1 1 9 . 6 4 51 9 87 5 5 2 8 . 5 , 92 3 9 . 0 . 89 4 2 3 , 72 3 02 5 7 , 85 4 1 1 . 9 2 8 86 5 4 3 . 7 . 4 7 , 75 9 . 7 2 . 20 2 0 "" ' 1; 9 7 8 '" . . " " ;9 7 8 " . " . . ' 16 . 8. ' " 4; 7 9 5 . " . . " " ' 0. . . ". " 76 6 - . " . 56 0 ' - . . ' i i G ., 1 8 ; 0 9 9 ... 2 6 ~ 5 4 . " , . ' 20 9 . .. T 1 ) 5 S : f " . ' 1 6 . . 3 2 ; 0 4 1 '" ., . . 4 s : f . ' ii o ; i 3 9 . . '. . ' i r i s 18 2 0 2 2 7 9 8 . 2 1 1 09 2 0 1 1 . 09 2 1 3 . 9 5 , 08 7 65 6 59 4 6 , 33 7 7 . 9 1 7 42 9 2 5 , 91 9 3, 4 0 5 1 1 89 5 1 4 . 9 3 7 44 0 . 4 6 . 9 5 4 87 0 6 8 . 20 2 0 2 4 9 7 5 . 7 1 0 , 55 8 0 1 0 55 8 1 0 . 8 5 . 39 6 54 7 63 1 6 , 57 4 6 . 7 1 7 , 13 2 1 8 8 85 9 3 . 61 2 1 7 5 , 33 9 1 7 9 . 7 5 0 , 17 8 51 . 4 6 7 31 0 6 9 . Ye a r Ne l P r e s e n t V a l u e 1 5 9 62 0 No m i n a l L e v e l i z e d C o s t ( $ / M W h ) Re a l L e v e l i z e d C o s t ( $ / M W h ) 0 1 5 9 62 0 08 3 0 1 1 65 0 33 3 53 , 06 6 21 2 68 6 18 7 . 86 4 82 2 26 7 55 0 48 0 , 23 6 22 . 18 . 37 . 30 . 67 , . 5 4 . tr j ~ ~ fJ C I = - ~ - . N s : 1" + 0 ~ 04 A u r o r a R e s u l t s ( I R P P r i c e s ) . xl s