Sutton Bridge Q2.xlsx
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Transcript of Sutton Bridge Q2.xlsx
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Term 15
Fixed Payements
One time up-front 9,000,000.00
Annual 68,800,000.00
Variable Payments
Rate 357.50
Startup/Shutdown 2
Minimum 15000
5,362,500.00
Maintenance
Min 12
Max 30
Maximum Contract Volume
Summer (April-Sept) 700
Winter (Oct-May) 735
Off-take Instructions
By 8 AM # of Half hour periods and contractual volume for each period
# of shutdowns
1 shutdown 4
Total startups per 3 years 600
Contractual Heat RateMin 6.8
Max 7.6
Gas Delivery Cost
Minimum 10%
Maximum 15%
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Gas Price (per MMBtu) 1.25
Electricity Price (per MwH) 25.00
Heat Rate (MMBtu/MwH) 6.95
Capacity (MwH) 717.5
Delivery Cost 10%
Year 1 Year 2-15
Minimum Annual Half Hour Periods 12500 15000
Annual Power Generation (MwH) 4484375 5381250
Revenue
If option exercised 112,109,375.00 134,531,250.00
If option not exercised 38,958,007.81 46,749,609.38
Fixed Costs
Upfront 9,000,000.00 -
Annual 57,333,333.33 68,800,000.00
Total 66,333,333.33 68,800,000.00
Variable Costs 4,468,750.00 5,362,500.00
Gas Amount 31166406.25 37399687.5
Gas Cost 38,958,007.81 46,749,609.38
Premium over index if option exercised 779,160.16 934,992.19
Delivery Cost 3,895,800.78 4,674,960.94
Total Cost
If option exercised 114,435,052.08 126,522,062.50
If option not exercised 70,802,083.33 74,162,500.00
Contribution
If option exercised 68,476,406.25 82,171,687.50
If option not exercised 35,062,207.03 42,074,648.44
Operating income
If option exercised 2,325,677.08- 8,009,187.50
If option not exercised 35,739,876.30- 32,087,851.56-
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Gas Price (per MMBtu) 1.25
Electricity Price (per MwH) 17.55
Heat Rate (MMBtu/MwH) 6.95
Capacity (MwH) 717.5
Delivery Cost 10%
Year 1 Year 2-15
Minimum Annual Half Hour Periods 12500 15000
Annual Power Generation (MwH) 4484375 5381250
Revenue
If option exercised 78,695,175.78 94,434,210.94
If option not exercised 38,958,007.81 46,749,609.38
Fixed Costs
Upfront 9,000,000.00 -
Annual 57,333,333.33 68,800,000.00
Total 66,333,333.33 68,800,000.00
Variable Costs 4,468,750.00 5,362,500.00
Gas Amount 31166406.25 37399687.5
Gas Cost 38,958,007.81 46,749,609.38
Premium over index if option exercis 779,160.16 934,992.19
Delivery Cost 3,895,800.78 4,674,960.94
Total Cost
If option exercised 114,435,052.08 126,522,062.50
If option not exercised 70,802,083.33 74,162,500.00
Contribution
If option exercised 35,062,207.03 42,074,648.44
If option not exercised 35,062,207.03 42,074,648.44
Operating income
If option exercised 35,739,876.30- 32,087,851.56-
If option not exercised 35,739,876.30- 32,087,851.56-
Indifference Analysis
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Electricity Price 25.00
Heat Rate
6.95 1.78 14.0390
Sensitivity AnalysisDelivery Cost 10% 10%
Heat Rate Year 1 Year 2-15
6.95 Option exercised 2,325,677.08- 8,009,187.50
Option not exercised 35,739,876.30- 32,087,851.56-
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Gas Price 1.25
Heat Rate
6.8 17.55 14.0390
15% 15%
Year 1 Year 2-15
4,273,577.47- 5,671,707.03
37,687,776.69- 34,425,332.03-
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Gas Price (per MMBtu) 2.50
Electricity Price (per MwH) 15.00
Heat Rate (MMBtu/MwH) 6.95
Capacity (MwH) 717.5
Delivery Cost 10%
Year 1 Year 2-15
Minimum Annual Half Hour Periods 12500 15000
Annual Power Generation (MwH) 4484375 5381250
Revenue
If option exercised 67,265,625.00 80,718,750.00
If option not exercised 77,916,015.63 93,499,218.75
Fixed Costs
Upfront 9,000,000.00 -
Annual 57,333,333.33 68,800,000.00
Total 66,333,333.33 68,800,000.00
Variable Costs 4,468,750.00 5,362,500.00
Gas Amount 31166406.25 37399687.5
Gas Cost 77,916,015.63 93,499,218.75
Premium over index if option exercised 1,558,320.31 1,869,984.38
Delivery Cost 7,791,601.56 9,349,921.88
Total Cost
If option exercised 158,068,020.83 178,881,625.00
If option not exercised 70,802,083.33 74,162,500.00
Contribution
If option exercised 20,000,312.50- 24,000,375.00-
If option not exercised 70,124,414.06 84,149,296.88
Operating income
If option exercised 90,802,395.83- 98,162,875.00-
If option not exercised 677,669.27- 9,986,796.88
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Gas Price (per MMBtu) 2.50
Electricity Price (per MwH) 15.00
Heat Rate (MMBtu/MwH) 6.95
Capacity (MwH) 717.5
Delivery Cost 15%
Year 1 Year 2-15
Minimum Annual Half Hour Periods 12500 15000
Annual Power Generation (MwH) 4484375 5381250
Revenue
If option exercised 67,265,625.00 80,718,750.00
If option not exercised 77,916,015.63 93,499,218.75
Fixed Costs
Upfront 9,000,000.00 -
Annual 57,333,333.33 68,800,000.00
Total 66,333,333.33 68,800,000.00
Variable Costs 4,468,750.00 5,362,500.00
Gas Amount 31166406.25 37399687.5
Gas Cost 77,916,015.63 93,499,218.75
Premium over index if option exercis 1,558,320.31 1,869,984.38
Delivery Cost 11,687,402.34 14,024,882.81
Total Cost
If option exercised 161,963,821.61 183,556,585.94
If option not exercised 70,802,083.33 74,162,500.00
Contribution
If option exercised 23,896,113.28- 28,675,335.94-
If option not exercised 66,228,613.28 79,474,335.94
Operating income
If option exercised 94,698,196.61- 102,837,835.94-
If option not exercised 4,573,470.05- 5,311,835.94
Indifference Analysis
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Electricity Price 15.00
Heat Rate
6.95 1.07 14.0390
Sensitivity AnalysisDelivery Cost 10% 10%
Heat Rate Year 1 Year 2-15
6.95 Option exercised 90,802,395.83- 98,162,875.00-
Option not exercised 677,669.27- 9,986,796.88
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Gas Price 2.50
Heat Rate
6.8 35.10 14.0390
15% 15%
Year 1 Year 2-15
94,698,196.61- 102,837,835.94-
4,573,470.05- 5,311,835.94
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Electricity Charges (per MwH) Gas Price (per MMBtu)
- -
0.25 3.510
0.50 7.020
0.75 10.529
1.00 14.0391.25 17.549
1.50 21.059
1.75 24.568
2.00 28.078
2.25 31.588
2.50 35.098
2.75 38.607
-
5.000
10.000
15.000
20.000
25.000
30.000
35.000
40.000
45.000
- 0.50
Elec
tricityCharges(PerMeH)
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1.00 1.50 2.00 2.50 3.00
Gas Price (Per MMBtu)
Indifference levels
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