B-1Proposed Tariffs - Amended March 2, 2011 2/28/2011
6 passages
1 escalating COMFIT rates. We found that operating costs (not including fuel costs for 2 biomass) as a percentage of total costs are approximately 10% for the types of projects 3 considered here. If an escalating approach were to be used f...
AI summary The text discusses the COMFIT program and the consideration of escalating rates versus level rates for biomass projects. It mentions that operating costs are around 10% of total costs and suggests a levelized tariff approach for simplicity. The document also outlines the structure of the evidence submitted, including exhibits related to tax status and modeling assumptions.
11 Q. HOW DOES YOUR PROPOSED LARGE WIND RATE COMPARE WITH OTHER 12 BENCHMARKS? 13 A. We have proposed a flat rate of $139 per MWh. In Vermont, the FIT for wind between 14 100 kW and 2.2 MW starts at $112 per MWh in 2010 and escalates to $1...
AI summary The respondent proposes a flat rate of $139 per MWh for large wind projects, comparing it to benchmarks such as Vermont's FIT, Ontario's FIT, and prices from recent Nova Scotia Power Inc. RFPs. The rate is slightly higher than Ontario's $135 per MWh and considers factors like community ownership and U.S. grants.
2 Q. HOW DOES THIS RATE COMPARE WITH OTHER BENCHMARKS? 3 A. The Vermont biomass FIT starts at $121 per MWh in 2010 and escalates to $141 in 4 2019 (in nominal dollars). Projects are required to be CHP projects, are required to meet 5 a "de...
AI summary The response compares the COMFIT rate with biomass FIT rates in Vermont and Ontario. Vermont's rate starts at $121 per MWh with a 30% subsidy and CHP requirements, while Ontario's rate starts at $138 per MWh with no CHP requirement. The COMFIT rate is expected to be higher than Vermont's but possibly lower than Ontario's due to project size and ownership differences.
5 Q. WHAT HAVE YOU ASSUMED ABOUT THE PROJECT'S CAPACITY FACTOR? 6 A. We assume an annual average net capacity factor of 55%. Hatch Energy's Low Head 7 Hydro Market Assessment includes an estimate of 60%, and Seaforth Engineering also sugge...
AI summary The respondent assumes a 55% annual average net capacity factor for the project, citing estimates from Hatch Energy and Seaforth Engineering of 60%, but also referencing a 45% assumption from data in the Vermont FIT proceeding. The FIT rates in Vermont and Ontario are discussed as context for COMFIT rates.
Table 2. Cost and Performance Assumptions for Wind ≤50 kW ($2012) As t io su m p n Va lu e Ca lc la t io u n Eq ip & Ins l la ion t ta t m en u $ 2, 6 0 0 0 5 5, In ion t a t p ss um p u In te t ion rc on ne c $ 2 0 9, 0 0 0 In t a t ion (...
AI summary Table 2 outlines cost and performance assumptions for wind energy systems with a capacity of ≤50 kW in 2012, detailing various categories such as equipment and installation, interest, maintenance, working capital, debt service, debt coding fees, and equity costs.
03-01-2011 Nov a S ia C OM FIT Mo del cot Win d ≤ 50 kW Ca sh Flo w W ork she Top et: Syn e E aps xhi bit I Stat e/Pr ovin cial 1 1,51 0 2,90 5 717 (401 ) (985 ) (1,3 04) (1,4 93) (1,6 20) (1,7 19) (1,8 06) (1,8 80) (1,8 80) (1,8 79) (1,8...
AI summary The document presents a table with financial data related to a FIT (Feed-In Tariff) model, including provincial and federal tax benefits and liabilities, as well as equity investments. The data shows numerical values across different categories and time periods.
B-4Redacted Direct Testimony and Exhibits of Paul Chernick - on behalf of CA 3/17/2011
4 passages
2 Q: How does the Synapse team view the effect of community involvement in 3 development of COMFIT projects? - 4 A: Synapse assumes that community involvement adds to the costs of project 5 development, and ignores almost all the benefits...
AI summary The Synapse team argues that community involvement in COMFIT projects increases costs and risks, leading to higher required returns and rates. They assume community investors behave like traditional capital market investors, ignoring the unique aspects of community ownership and its potential benefits. Synapse also contrasts COMFIT projects with purely profit-driven initiatives like Heritage Gas.
3 Q: Are you familiar with the financing of community energy projects? 4 A: Yes. In Massachusetts, a program was established under which a state agency 5 matched funding from local contributors to install panels on school buildings. I 6 pe...
AI summary The witness discusses community financing of renewable energy projects, citing examples from Massachusetts and other locations. These projects often involve public contributions and can yield low returns, but they demonstrate community interest in renewable energy initiatives.
- 25 The Appalachian Institute for Renewable Energy installed a PV system 26 financed by seven to 10 individuals, who paid $1,700/kW (after incentives) 1 and sell energy to AIRE at under 10¢/kWh. At a capacity factor is 17%, 2 with no esca...
AI summary The text discusses a PV system installed by the Appalachian Institute for Renewable Energy (AIRE), financed by individuals who paid $1,700/kW. It also explores the expected returns for community members investing in such projects, with interest rates ranging from 2% to 11%, and mentions the potential for in-kind donations such as land, labor, and equipment from local governments and contractors.
justment and shared-savings incentive mechanisms for Union Gas DSM programs. Standards for review of targets and achievements, computation of lost revenues. Need for DSM expenditure true-up mechanism. 177. NY PSC 99-S-1621; Consolidated Ed...
AI summary The text discusses regulatory proceedings related to energy and utility matters, including DSM programs, rate adjustments, mergers, and asset sales. It references various regulatory bodies and proceedings, focusing on topics such as cost allocation, rate design, and performance-based ratemaking.
B-11Evidence of Alliance of Nova Scotia Sawmillers 3/22/2011
12 passages
Q. WHAT IS THE MARKET DATA EVIDENCE? A. B&Co is active in the market for biomass-fired power projects. We represent both buyers and sellers, have many discussions with both about valuation, and we see the results of auctions. On that found...
AI summary The response discusses market data on expected returns for biomass CHP projects, noting that well-structured operating projects expect pre-tax returns of 14-15% and after-tax returns in the low teens. Development-stage projects require higher returns, up to 25% or more, with an average cost of capital of approximately 17.5% supported by valuation metrics like EV/EBITDA.
Finance & Energy "Flying Through Turbulence", Public Utilities Fortnightly , April 2008, pp 26-27, 66. "Going to the Bank", Public Utilities Fortnightly , deal log for M. Burr, June 2005. "Ratepayers Back At Risk", Public Utilities Fortnig...
AI summary The text is a collection of articles and deal logs from various publications focusing on finance and energy topics, including merchant power deals, project financings, and utility asset sales over multiple years. It highlights trends and market dynamics in the energy sector, particularly in the context of generation sales and project valuations.
III. DESIGN BASIS - Q. Should the facility be designed as a back-pressure or condensing / extracting system? - A. As discussed in the evidence submitted by Synapse, there is no clear definition of CHP provided by NSDOE. We agree with Synap...
AI summary The discussion addresses the design of a facility as either a back-pressure or condensing/extracting system. Synapse's evidence is referenced, noting that sawmills are a reasonable basis for the tariff. A condensing/extracting system is favored due to the variability in steam load from dry kilns and the need for a system that can operate independently, despite higher capital costs.
Q. How should capital cost be allocated between the electricity generated and steam used for process heat? - A. We do not agree with the rationale that the base cost of the boiler should be borne solely by the steam host. The evidence pres...
AI summary The response argues against allocating the boiler's base cost solely to the steam host, suggesting instead that both the steam and electrical users should share the capital cost and fuel expenses. The rationale is based on the intent of the COMFIT program to promote renewable energy and the risk of relying on steam sales for revenue.
Q. What is the calculated electrical usage of the facility? - A. The CHP facility will utilize a portion of the power it generates which is known as "parasitic loss". This power is used for the fans, pumps, motors, lights, etcetera in the...
AI summary The CHP facility's electrical usage includes parasitic losses of 348 kW, which are not considered in Synapse's calculations. This loss accounts for 14.4% of generation in condensing mode and 21.7% in full extraction mode.
1980-1989 In the early 80's, the dramatic difference in energy fuel costs between gas/oil and coal provided a substantial economic driving force for these conversion projects. In the mid 80's, the drop in gas/oil prices and more stringent...
AI summary In the 1980s, ESI transitioned from coal conversion projects to wood-fired boiler enhancements, driven by rising environmental regulations and the economic shift from coal to alternative fuels. ESI implemented efficiency improvements and purchased Bahco bark drying technology to support pulp and paper industry projects.
ASSUMPTIONS AND CLARIFICATIONS - 1. ESI has not included use taxes, property taxes, or Owner's insurance as part of this project budgetary pricing. We assume owner will provide this information. - 2. ESI assumes that the site is level with...
AI summary The document outlines various assumptions and clarifications made by ESI regarding the project budget, including the exclusion of certain taxes, site conditions, utilities, and environmental compliance measures. It highlights the assumptions made about site access, soil conditions, and the availability of resources during construction and commissioning.
Q. Does ANSS agree with this approach? A. No. Since the purpose of the COMFIT is to procure renewable electricity, the ANSS does not believe that it is justifiable to approach the evaluation from the perspective of a boiler only scenario w...
AI summary ANSS disagrees with Synapse's approach to evaluating the COMFIT project, arguing that it unfairly places the cost of shared steam resources solely on the heat user. ANSS believes both the heat user and electricity rate payer should share the cost, as both benefit from the shared steam resource. Synapse acknowledged that some steam generated in a COMFIT CHP plan benefits electricity users.
t history. We can see this in Figure 1.0 which depicts the lumber market over the past 10 years. Figure 1.0 Western SPF Lumber Price History USD per 1000 board feet If a sawmill is required to use a backpressure turbine and market conditio...
AI summary The document argues that requiring sawmills to use backpressure turbines is financially risky, as shutdowns due to poor lumber market conditions would lead to fixed costs for the power plant that cannot be covered by revenue. This would compound existing losses and make CHP projects unfeasible under current market conditions.
Why a Condensing Turbine with Extraction Makes Sense In order for sawmills to participate and for projects to be able to attract debt the operation of the power plant has to be decoupled from the operation of the sawmill. A condensing turb...
AI summary A condensing turbine with extraction allows sawmills to decouple power plant operations from sawmill activities, providing flexibility during shutdowns or low production periods. This design supports revenue generation during difficult market conditions, reduces financial strain, and enables participation from community organizations with lower heat load demands.
. EPA's figure for electricity generation (3,942 MWh) was converted to mmBtu using a factor of 3,412 Btu/kWh. See also the answer to question (g) above. (l) Supply the calculation for Input to steam. Answer: Input to steam (257,730 mmBtu)...
AI summary The text provides calculations for input to steam and electric, as well as the electric heat rate, based on energy output and losses. It also references a cost estimate for biomass from Synapse, requesting the source and methodology for the delivered and non-delivered costs.
about $5.25 per mmBtu, and the non‐delivered cost at $3.50 per mmBtu. Please provide the source of that evidence as well as calculations, assumptions and methodology used to derive these estimates. Answer: The term "anecdotal evidence" was...
AI summary The document discusses the lack of robust data on biomass prices and the need for improved evidence, as well as Synapse's approach to modeling biomass CHP FIT and the absence of contingency funds for O&M costs. The response acknowledges the need for written sources and outlines future steps for interviews and model adjustments.
B-27Excerpt from Combined Heat and Power Partnership - Funding Resources 4/7/2011
4 passages
Funding Resources As a service to our Partners, EPA's CHP Partnership provides regularly updated lists of state and federal incentives applicable to CHP and biomass/biogas projects, including financial incentives and favorable regulatory t...
AI summary The document outlines funding resources for CHP and biomass/biogas projects, including financial incentives and regulatory support. It mentions the EPA's CHP Partnership provides updated lists of state and federal incentives, and categorizes funding opportunities by project type and incentive type.
Type of Project: - State and federal incentives QP-RlicctbJtlQJ;HE_systenlS, such as direct financial incentives or favorable regulatory treatment. - State and federal incentives_~QQl _~bj~s s-~el~CHPand d~ib~ed g_en~ration Rrojects, inclu...
AI summary The text discusses state and federal incentives for projects involving combined heat and power (CHP) and distributed generation, including direct financial incentives and favorable regulatory treatment.
Type of Incentive: - 4i< The fLnQHcji:tLlnc~ntjyes .QQ9~ includes grants, tax incentives, low-interest loans, favorable utility rates, tradable allowances, and renewable portfolio standards-all of which could help CHP project developers or...
AI summary The text discusses types of incentives available to support combined heat and power (CHP) and biomass project development, including grants, tax incentives, low-interest loans, and renewable portfolio standards. It also mentions regulatory measures that remove barriers to CHP and biomass project development, such as standardized interconnection rules and net metering rules.
- 4i< R~gulatory Treatment Name IY'P-e Eligibility Statg 8K Power Project Loan Etlnd Loan Biomass, CHP AK A~R~f)~wab1e_~neIgy_~rj3J1J: R~cQrnrnendation ProQIi;)_ffi Grant Biomass, CHP AK AK Sustainable Natural Alternative Power Program Reb...
AI summary The text presents a table listing various programs, incentives, and regulatory treatments across different jurisdictions, including loans, grants, rebates, and tax exemptions aimed at promoting biomass and combined heat and power (CHP) technologies.
07337Board Decision
3 passages
8.1 Submissions [113] Synapse assumed a tariff of $452 per MWh for wind projects of 50 kW or less. This proposed tariff is based on a model project with a single 50 kW (0.05 MW) turbine. [114] Synapse assumed an installed cost of $268,000,...
AI summary Synapse assumed a $452 per MWh tariff for small wind projects (50 kW or less), based on data from developers, manufacturers, and industry associations. Installed costs were estimated at $268,000, with financing at 50:50 debt/equity and a 13% return on equity. A 23% capacity factor was assumed for these projects.
8.2 Findings [130] With respect to the capacity factor, Synapse proposed a rate of 23%. The Board considers Seaforth's comments to be reasonable in terms of supporting the 23% recommendation. Based on its review of the evidence, the Board...
AI summary The Board accepts Seaforth's support for a 23% capacity factor for small wind projects. It adjusts Synapse's interconnection cost from $13,300 to $21,550 based on evidence from Scotian WindFields. The Board also increases Routine O&M costs from $1,642 to $4,500 annually, citing evidence from small wind operators. These changes are to be addressed in the Compliance Filing.
[177] As for DIE ratios Mr. Bodington stated: I'm saying that Canadian investors without some of the benefits of the U.S. will have to raise more equity, and that will make the project more costly. But that doesn't make a project impossibl...
AI summary Mr. Bodington discusses the challenges of financing biomass projects in Nova Scotia, emphasizing the need for equity over debt due to high cost of capital and the reluctance of sawmills to invest in side businesses. He also notes that smaller projects (e.g., 2 MW) are not economically viable under current rate schemes.
06875Final Submission - Ecology Action Centre 5/2/2011
4 passages
Recommendations: 1. Based on the Board"s own consideration of distribution zone constraints in the Net Metering decision earlier this year (EAC Exhibit A), The Board should consider distribution zone availability and capacity issues as unr...
AI summary The EAC recommends that the Board address unresolved distribution zone capacity issues by requiring NSPI to provide a grid assessment and introduce an access guarantee for COMFIT projects. They also suggest implementing a transparent grid information tool to support investor confidence and financial mechanisms for COMFIT development.
Issues with Stakeholder Eligibility, Variability in COMFIT Stakeholders Abilities to Access to Debt Financing from Private Lenders and Raise Equity for Capital - 1. EAC questions the abilities of all COMFIT stakeholders to equitably access...
AI summary The EAC raises concerns about the unequal ability of COMFIT stakeholders to access debt financing and raise equity, due to eligibility restrictions and financial disparities. This may hinder participation, particularly for First Nations and municipalities, and could lead to unintended consequences in project development.
Recommendations: - 1. Given that there appears to be unreasonable inequity between eligible stakeholders in access to debt and abilities to raise capital through equity mechanisms such as CEDIFs, and this is partially based on inequitable...
AI summary The recommendations address inequities in access to capital for COMFIT stakeholders, highlighting issues with CEDIFs, municipal and Mi'kmaq participation, and the need for supportive mechanisms like loan guarantees and forgivable loans to enable COMFIT project development.
t likely to provide capital, and they would not. They are not planning to. Ms. Ashworth: Okay. Mr. Rickerson: Therefore, they seemed to state that other municipalities would also be not likely. Mr. Rickerson in response to Mr. Vogel: p.286...
AI summary The discussion focuses on the challenges of financing small-scale renewable energy projects in Nova Scotia, referencing experiences from Denmark, Germany, and Massachusetts. It notes that while some governments provide support for feasibility studies, no similar programs are currently operational in Nova Scotia to assist with financing.
07337Board Decision
2 passages
8.1 Submissions [113] Synapse assumed a tariff of $452 per MWh for wind projects of 50 kW or less. This proposed tariff is based on a model project with a single 50 kW (0.05 MW) turbine. [114] Synapse assumed an installed cost of $268,000,...
AI summary Synapse's analysis of small wind projects in Nova Scotia includes assumptions about tariffs, installed costs, O&M expenses, financing structures, and capacity factors. These assumptions are based on data from developers, manufacturers, and industry associations, and are used to model the financial viability of such projects.
it was noted that some would be required for the steam only scenario: Q: Now, you have mentioned I want to talk about parasitic load too, I mean, I think it's we heard it's 14 percent overall. And if I heard you correctly yesterday and aga...
AI summary The discussion focuses on parasitic load in a steam-only scenario, with a 14% overall parasitic load, but the boiler alone accounts for 0.217 MW. Synapse's model assumes an operating pressure of 100 psi, which affects operating costs, including labor, and a calculation suggests that the parasitic power for electricity generation is 5%.
20110404-1Hearing Transcript — 4/4/2011 (Synapse)
6 passages
process would be working as well. 1 Page 172 NSUARB-BRD-E-R.10 maybe you can help me out then. The only way I can assess 1 at a particular site and you've gotten a cost estimate or 2 a detailed cost estimate for that study for that 3 proje...
AI summary The discussion focuses on the availability and comparison of installed cost data for wind turbines and biomass CHP projects, highlighting the limited data available for biomass projects compared to wind. The testimony emphasizes the difficulty in obtaining detailed cost data for biomass CHP projects.
- equity? Page 198 NSUARB-BRD-E-R.10 1 MR. KEITH: Yes. 2 MS. RUBIN: And as you pointed out 3 that Mr. Bodinton, on behalf of the Alliance Nova Scotia 4 Sawmillers, has submitted evidence that due to the risks 5 of a biomass fired power a r...
AI summary The discussion highlights concerns about the feasibility of financing a biomass-fired power project due to its small size, which may make it difficult for lenders to provide funding. Equity financing is suggested as the most likely capital structure, and there is no direct experience with arranging debt or equity financing for such projects among the participants.
into small wind were reliable. 1 NSUARB-BRD-E-R.10 Page 225 So in the model that I developed, it 20 So in the model that I was I was 21 just trying to get a number that might zero out the SDIF 22 investors so they wouldn't get any return a...
AI summary The discussion revolves around a model developed to determine an equity return for SDIF investors, with estimates ranging from 13% to 20%. The model was based on stakeholder consultations and input from investment bankers in the U.S. and Canada, including banks, credit unions, and venture capitalists.
probably produce projects, or we could bump the rates up 1 NSUARB-BRD-E-R.10 Page 239 much higher in an effort to be certain that we produce a 22 all this is going to work through the rate setting. DICTUM DIGITAL INC. CERTIFIED COURT REPOR...
AI summary The discussion revolves around the feasibility of the SDIF model for wind development and the potential need to adjust rates. The SDIF model is being evaluated, with some uncertainty about its effectiveness. The suggestion is to establish a reasonable COMFIT rate to test the model's viability.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS it. SDIFs are great." They've been holding, you know, 1 public information sessions before this hearing, but 11 the other one was the assumptions and the costs that seem 12 to be the actual r...
AI summary The discussion centers on the Small Developer Incentive Fund (SDIF) and concerns about ensuring that projects align with government goals, particularly regarding shareholder returns. The conversation includes references to amortization periods, models used for financial projections, and the repayment of principal and interest over different timeframes.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS MR. VOGEL : I'll try and be brief. 1 NSUARB-BRD-E-R.10 Page 285 THE CHAIR: No, I didn't mean to hurry 2 you. When he said he was through, I meant I thought he 3 meant both of you were through...
AI summary Mr. Vogel asks Mr. Rickerson about the importance of supplementary mechanisms like initial capital for community groups to participate in renewable energy projects, particularly in the context of feed-in tariff programs. He references the SDIF stakeholder group and COMFIT framework in Nova Scotia.
20110405-1Hearing Transcript — 4/5/2011 (Synapse Panel, ANSS Panel)
11 passages
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS The Renewable Electricity Plan talks 1 NSUARB-BRD-E-R.10 Page 321 about, you know, ways the Province could encourage 2 development, engage encouraging developers to engage 3 directly with the...
AI summary The discussion focuses on strategies to encourage renewable electricity project development, particularly involving engagement with the Mi'kmaq community and addressing financing challenges. It highlights concerns about setting tariffs too high, which could lead to increased costs and unfair advantages for certain projects.
Page 334 NSUARB-BRD-E-R.10 1 NSUARB-BRD-E-R.10 Page 329 specifically include those costs in the model, I think 2 this does get back to the issue we need to find a broad 3 representative rate, so similarly, there may have been 4 specific tr...
AI summary The discussion addresses the challenges of incorporating specific transaction costs into a model for setting representative rates, noting that certain costs, such as those related to forming cooperatives or SDIFs, were not specifically accounted for. The response highlights the government's plan to establish a planning group and develop financing tools to support community-based renewable energy projects.
- We you spoke about, Ms. Shaw, and you used a term yesterday that, I must confess, was the first time I'd ever heard it, you called parasitic you were talking with Ms. Rubin about the estimates that you worked on in connection with the bi...
AI summary The discussion revolves around the term 'parasitic power' used in the context of a biomass facility, which is equated to 'station service.' The conversation explores the composition of station service costs in an oil-fired boiler facility, including components like water feed pumps and cooling water pumps, and estimates the percentage of output these costs represent.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS factor of one of their turbines whether they're talking Page 380 NSUARB-BRD-E-R.10 9 paragraph 2, line 5 of that which says: 10 "We did not rely on below-market 11 financing or voluntary 12 c...
AI summary The discussion focuses on the operation and maintenance costs of small wind turbines, specifically the omission of site maintenance, general and administrative expenses, and land lease costs in the model. The concern is that these costs are assumed to be contributed for free, contradicting the statement of no voluntary contributions.
- was the 1.5 percent as well? Page 388 NSUARB-BRD-E-R.10 18 CEDIFs, co-ops, First Nations groups, will have very 19 little experience in developing projects of this size. 20 And I was wondering if that level of experience was 21 brought t...
AI summary The discussion revolves around the experience level of CEDIFs, co-ops, and First Nations groups in developing energy projects and whether this was communicated to financiers. It also mentions that some lenders focus on the PPA rather than the experience of the entities involved.
Page 510 NSUARB-BRD-E-R.10 reasonably expect to get land donations or charitable donations. And we thought that it well, it didn't get us to the 100 megawatts of potential capacity. Otherwise, if there were that level of altruism, 100 mega...
AI summary The discussion centers on the challenges of securing land and charitable donations for renewable energy projects, particularly in relation to the COMFIT rate and the potential for community resistance to property tax waivers. The conversation also touches on project development costs and differences in regulations between Nova Scotia and Vermont.
B-15. Page 530 NSUARB-BRD-E-R.10 9 determine what the cost of generating electricity would be 10 at a plant that would reasonably match the scale of 11 operations of a typical sawmill in Nova Scotia. 12 We secured expertise in two key area...
AI summary The text discusses the determination of the cost of generating electricity for a small CHP plant in Nova Scotia, involving engineering studies commissioned from ESI Tennessee and financial analysis conducted by Mr. Jeff Bodington. The analysis highlights differences between estimates from ANSS COMFIT and Synapse.
risk profile is driven by fuel; having to get it, having to burn it, and all the issues related thereto. Those fundamental risk issues are what drive and the size in the case of a small project, financing to 100 percent equity. The 30 perc...
AI summary The discussion focuses on the risk profile of energy projects, particularly how fuel-related risks influence financing decisions. It highlights that in the absence of tax incentives, Canadian investors may need to rely more on equity, increasing project costs but not necessarily making them unfeasible.
- sawmill this plant can get a true FIT. - I'm not clear on if it has to be - locally owned or not, first of all. So are you do you - have any clarity about that? - MR. TRAVIS : No, I'm not sure what the - ownership requirements are in ter...
AI summary The discussion revolves around the eligibility of a sawmill for a FIT or COMFIT, with uncertainty about ownership requirements and potential risks if a foreign entity owns the plant and receives a special feed-in tariff.
- enough to permit all of your members to develop CHP - projects or only a portion of them. But what I think I - will do as, as you're going to put forward a different - number - MR. TRAVIS : Right. - MR. McGRATH : is ask that question - i...
AI summary The discussion revolves around the Community Feed-in Tariff (COMFIT) and its basis on the cost of generating electricity for a 2.4 megawatt plant, which is considered reasonable for the scale of the largest members of the organization.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS There's other issues that come into 1 NSUARB-BRD-E-R.10 Page 607 play. Some of us have very new boilers, in which case, 2 you know, you have to do an economic assessment. If you 3 spent $10 m...
AI summary The text discusses the economic considerations of replacing existing boilers, highlighting concerns about ratepayers subsidizing the replacement of still-functional equipment. It mentions COMFIT and CHP plants, and references the decision-making process of some entities, such as Marwood, in relation to these projects.
20110406-1Hearing Transcript — 4/6/2011 (ANSS Panel, St. Francis Xavier Univ, Consumer Adv. Panel)
5 passages
recourse financing. Page 638 NSUARB-BRD-E-R.10 2 which they're getting from the PPA is also getting a 30 3 percent ITC, which was discussed by Synapse, which is 4 worth a lot of money on the backend of that project. But 5 in addition to th...
AI summary The text discusses a project receiving a 30% ITC and an $8 million grant from the City of Montpelier to continue development, as the PPA alone would not have been sufficient. It also references cancelled projects by Beavertown in Powton, Pownal, and Fairhaven.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS that got that changed into a feed-in tariff which removed 1 NSUARB-BRD-E-R.10 Page 779 the CEDIF restrictions. I just wondered if you or the 13 MR. COADY: And it's been they've 14 been attemp...
AI summary The discussion revolves around the relocation of a facility and the potential use of a COMFIT to underwrite the costs. A comparator analysis suggests that a standalone steam facility may have lower capital costs but would still favor cogeneration. The conversation also touches on the rate of return for a CHP project compared to other options.
- should be refashioned into sort of community-flavoured - commercial FIT that Synapse assumes. - A related issue is what kind of goals - there are for the COMFIT program. And I think a number of - times on the stand Synapse expressed thei...
AI summary The text discusses the COMFIT program and its goals, including a reference to a 100-megawatt objective for community/small-scale renewable electricity projects. It notes that Synapse has assumed a commercial FIT model and that the 100-megawatt target may include projects beyond COMFIT, with existing projects already contributing to this goal.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS potential vendors, that all of that is a contribution 1 compared to what you would expect from a commercial 2 entity. 3 But in any case, I don't know anything 4 that prohibits them from getti...
AI summary The discussion revolves around the CEDIF (Community Energy and Distributed Infrastructure Facility) and its ability to receive support from municipalities, community members, and investors. There is a mention of potential limitations and tax benefits, as well as the possibility of alternative structures like a municipality co-op or not-for-profit organization for project development.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS Commission has. In fact, if they consider, let's say, the 1 NSUARB-BRD-E-R.10 Page 853 CEDIF group in some way to be too close as the developer 14 new entity like a CEDIF with no track record...
AI summary The discussion revolves around the perceived higher risk and cost associated with a new entity like CEDIF due to its lack of track record, with one party questioning if this is accurate and another responding that it depends on the context of raising money.
20110407-1Hearing Transcript — 4/7/2011 (Consumer Adv. Panel, Cdn. Wind Energy Panel, EAC - T. Couture)
10 passages
- they would probably have shown up in some way. - MR. TOWSE : So your suggestion that - the COMFIT rate be reduced because municipal governments - have access to low rates of debt suggests and is not - supported by the evidence that no mu...
AI summary The discussion centers on the COMFIT program and whether municipal governments are interested in it, with Mr. Towse suggesting that the absence of municipal interest is not supported by evidence, and Mr. Chernick arguing that municipal governments may become interested once the opportunity is presented to them.
your argument that I expect to see in your submission. Page 960 NSUARB-BRD-E-R.10 8 the adversities, I'm not familiar with. 9 Thank you. MR. TOWSE: 10 THE CHAIR: Did you make a property 11 tax adjustment for large wind? 12 No. MR. CHERNICK...
AI summary The text contains a transcript of a regulatory proceeding involving testimony and questioning. The discussion includes references to wind energy, tax adjustments, and the CEDIF investment returns. It highlights interactions between the chair, participants, and the Nova Scotia Sustainable Electricity Alliance.
based on what Mr. Towse has said before, we've only see a $3 million investment from CEDIFs. So would you say that
AI summary The text references a previous statement by Mr. Towse regarding a $3 million investment from CEDIFs, indicating a discussion about financial contributions or funding from the Community Energy Development and Investment Fund.
- term, while the projects from the RFP were sitting on the - shelf. - Now, this is my sort of reading from - the documents in the various cases I've been in. - And then the company filed with the - Board for a change in the queuing proced...
AI summary The discussion centers on NSPI's actions in response to transmission queue issues, including purchasing turbines and co-owning projects to keep processes moving. The Board's decision on queuing procedures is referenced, and the impact on COMFIT projects is mentioned. The discussion also touches on incentives like CEDIFs.
March 31st , so I and certainly their offering documents - didn't express any confidence in qualifying for the in - actually receiving the ecoenergy credit. - MR. PYNN : Right. - MR. CHERNICK : So that's what I know - about their success....
AI summary The conversation discusses the success of a project related to the ecoENERGY credit, the construction schedule, and the present value of the ecoENERGY over 20 years, estimated at around $7 to $8 per megawatt hour.
- percent. NSUARB-BRD-E-R.10 Page 1029 3 MR. LEVY: The ecoENERGY credit ended, 4 I believe, in 2010, although perhaps other people in here 5 can confirm that or help refine that date. The money 6 the fund associated with that has essential...
AI summary The discussion revolves around the ecoENERGY credit program, its end date in 2010, and whether the credit was tied to a specific project duration. There is also mention of CanWEA's position on including non-commercialized technologies like tidal in FIT or COMFIT programs.
- will be renewing that. - MR. OUTHOUSE: Okay. That wasn't - something that was in the ill-fated budget - MR. LEVY: There was nothing in the - ill-fated budget - MR. OUTHOUSE: not that you - recall? - MR. LEVY: on ecoenergy. We - scoured,...
AI summary The conversation discusses the absence of ecoENERGY-related content in a previous budget and references CanWEA's participation in the process. Synapse's solicitation of cost data from CanWEA and its members is also mentioned, along with ongoing proceedings.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS Now, as the market matures, the risk 1 NSUARB-BRD-E-R.10 Page 1099 of developing projects goes down because you get more 10 printed out just before the hearing began and it's stated 11 to be...
AI summary The text discusses incentives for biomass CHP and biogas production in Vermont, including production incentives and feed-in tariffs, as part of a regulatory proceeding involving Nova Scotia utility and review board matters.
- Vermont. The one's you have listed here are the - production incentives - MS. RUBIN : Do you know, sorry, just - to interrupt. Do you know the magnitude of that - production incentive offer? - MR. COUTURE : I believe it was in the - orde...
AI summary The dialogue discusses production incentives for energy generation, with an estimate of 3 to 3.95 cents per kilowatt hour. The conversation also mentions a conservation loan program, indicating a discussion around financial mechanisms related to energy production and conservation.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS program, the clean energy development fund as well as a 2 systems to make them easier to finance. 3 MS. RUBIN: Okay. So we've heard 4 about a 30 percent credit, I believe, or been referred to...
AI summary The discussion focuses on financing mechanisms for energy conservation and clean energy development, including a 30% credit, an $8 million municipal contribution, and a clean energy development fund. The conversation also touches on property tax exemptions and loan programs, though details on loan terms are not provided.
20110408-1Hearing Transcript — 4/8/2011 (Black River Panel, Jonathan Barry, Daniel Roscoe, Paul Pynn & J. Barry)
10 passages
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS record, we'll note it and then we'll come back we'll 1 clear the room at the end of your cross-examination and 3 yesterday, that equity is where costs of projects often go 4 up because of the...
AI summary The text discusses the cost of equity in projects, suggesting that government involvement as an equity partner could reduce the financial burden on ratepayers and provide returns to investors. It mentions the Industrial Expansion Fund at NSPI and the potential for high returns on renewable energy projects.
- MR. LIVINGSTON : It depends on the - term that they're willing to give to the project, and that - seems to be a reasonable number. There seemed to be an - idea a few years ago, and I think this is maybe - represented in potentially, if I...
AI summary Mr. Livingston discusses the financial challenges of small projects, noting that large pension funds like Manulife typically avoid them. He contrasts this with Ontario's solar policy, which has fostered quicker financial development due to lower costs.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS I don't have any insight into that except to say that in 1 NSUARB-BRD-E-R.10 Page 1239 this region, which I believe is much more difficult to 15 as low as 4 percent? 16 MR. LIVINGSTON: Oh, no...
AI summary The discussion involves a CEDIF President, Mr. Livingston, who mentions challenges in securing investment for a project due to low projected returns, such as 4 percent. He notes hostility from CEDIF-type investors when proposing such low returns, and references a PPA rate of 6.5 cents. The conversation occurs in the context of a regulatory proceeding.
have to understand that. 1 Page 1246 NSUARB-BRD-E-R.10 These are prospectuses for what's 2 called unsophisticated shareholders, not sophisticated 3 shareholders. And the Regulations absolutely forbid the 4 promising of any returns. 5 MR. M...
AI summary The text discusses a prospectus for unsophisticated shareholders, mentioning a failed wind project and the investment of raised funds into Black River Hydro Limited. It also references the CEDIF and its financial activities.
- the table? So one of the questions becomes, "If we're the - first guys in can we get an upside later on?" - And my opinion is that that scenario - is again problematic because when if you go and form a - CEDIF and you bring in other CEDI...
AI summary The speaker argues that forming a CEDIF may lead to problematic scenarios where initial high-risk investors do not receive upside benefits, potentially leading to underfunded projects and increased burden on ratepayers. They suggest that a classic entrepreneurial approach, as seen in biomass or tidal projects, may be more effective.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS you think about needing another 5 percent in your budget, 1 is that extra 5 percent in your budget, is that extra 5 13 We had that discussion yesterday with him. 14 I'm wondering from your ex...
AI summary The discussion revolves around the potential need for an additional 5% in the budget and whether CEDIFs will recognize the full 65% value or if it is overstated. The speaker supports small businesses and communities participating in renewable energy initiatives.
- make a profit that's reasonable, or a profit at all. - So I disagree profoundly with Mr. - Chernick's analysis, which I don't think he understands - the reality of small projects and the cost of doing them - and the capital raise. - Also...
AI summary The speaker strongly disagrees with Mr. Chernick's analysis, arguing that it does not account for the realities of small projects and their capital costs. They also mention that CEDIF shareholders did not receive additional tax breaks, contrary to some information suggesting otherwise.
- laws. - But what aren't you allowed to put - a business plan together and project a return, obviously - with the caveat that it's not promised? - So what in your business plan to - CEDIF investors, what is the return you indicate that is...
AI summary The discussion revolves around the original 2002 prospectus for CEDIF, where no specific projects were indicated and no promises of returns were made to investors. The conversation highlights that the initial fundraising was a blind pool with no direct connection to any particular project.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS The projects have yet to be financed, 1 NSUARB-BRD-E-R.10 Page 1291 so, generally it involves some form of scenario of a group 1 going to local investors and getting money from them? 2 MR. RO...
AI summary The discussion revolves around the financing of projects through community investments, specifically under the Community Feed-In Tariff (COMFIT). No returns have been realized yet, and rates of return cannot be proposed until the COMFIT rates are set. Prior investments were company-based, making it difficult to forecast returns.
- DICTUM DIGITAL INC. CERTIFIED COURT REPORTERS good segue to my next question, was that obviously the 1 NSUARB-BRD-E-R.10 Page 1307 Mi'kmaq are interested in the COMFIT process, and 9 that they can invest in projects and look to exit shor...
AI summary The discussion touches on the COMFIT process and Mi'kmaq interest in investing in projects, with potential financing options such as equity investment and debt after cash flow is established. The conversation also references CEDIF, though it is noted that CEDIF is not part of the current tariff discussion.