EX-99 6 ex_a4.txt EXHIBIT A-4 Exhibit A-4 MOBILE ENERGY SERVICES COMPANY, L.L.C. Assumptions to Curtailed Operations Case: All assumptions are the same as the Current Operations Case except: Revenues: Sappi demand is at current levels in 2001 but the Paper Mill is assumed to close as of January 1, 2002. KC demand is at current levels in 2001 and reduces to 1,207,472 mmbtu of steam and 379,691 MWh of energy in 2002 due to capital projects undertaken by KC designed to make the Tissue Mill more energy efficient and a reduction in production. No grid sales are realized except in 2001. Fuel Expenses: MESC serves the KC Tissue Mill by using only the No. 8 Power Boiler fueled solely by natural gas. No biomass or coal costs are assumed to be used as fuel. O&M and Capital Expenditures: MESC reduces its O&M costs through (i) no longer operating the No. 7 solid fuel Power Boiler and (ii) additional staff reductions made by OEC. Capital expenditures are reduced due to MESC operating the No. 8 Power Boiler. Current Operations Case (shown for ease of reference): Revenues: Pricing will be based upon the Existing ESA for the Paper and Tissue Mills. No Cogen Facility will be developed. No Revenues will be generated from services provided to the Pulp Mill. Annual Demand Levels will be based upon current usage levels, which are as follows: KC Tissue Mill Steam 1,732,451 MMBtu Energy 369,529 MwH Sappi Paper Mill Steam 3,142,366 MMBtu Energy 201,973 MwH $224,000 of grid sales are realized in 2001 which grows 3% yearly. Fuel Expenses: MESC will serve KC and Sappi using Nos. 7 and 8 Power Boilers only. Gasprices for January 2001 approximates actual costs and prices for February through December 2001 are based upon projected gas prices for each month. Gas prices for 2002 was assumed to be $4.92 per MMBtu and escalates at 3% annually thereafter. Coal was assumed to be $1.41 in 2001 and escalates at 3% annually thereafter. Biomass was assumed to be $1.28 in 2001 and escalates at 3% annually thereafter. Purchased power was assumed to be $40.00 per MwH in 2001and escalates at 3% annually thereafter. There are no reliability expenses included in the attached projections. O&M and Capital Expenditures: MESC assumes reduction in its O&M costs as a result of OEC lowering the labor cost, including staff reductions, as a as a result of negotiated labor contacts, and staff reductions as a result of those negotiations. 2001 O&M was $21,263,000, which included $3,300,000 of professional fees. 2002 O&M is $15,247,000 and at 3% annually thereafter. Capital Expenditures are $2,468,000 in 2001, $2,348,000 in 2002 and escalates at 3% annualy thereafter. Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands) MESC Projected Statement of Operations - Curtailed Demand Case
Income Statement Summary 2001 2002 2003 2004 2005 2006 2007 2008 ------------------------ ---------------------------------------------------------------------------------------------- REVENUES "In-The-Fence" Electricity $ 34,316 $ 28,336 $ 29,186 $ 30,062 $ 30,964 $ 31,893 $ 32,849 $ 33,835 Steam 41,013 18,614 19,172 19,747 20,340 20,950 21,579 22,226 ---------------------------------------------------------------------------------------------- Total "In-The-Fence" 75,328 46,950 48,359 49,809 51,304 52,843 54,428 56,061 "Over-The-Fence" Electricity 224 - - - - - - - ---------------------------------------------------------------------------------------------- Total "Over-The-Fence" 224 - - - - - - - Pulpco - - - - - - - - KC Make-Up Payment 14,763 - - - - - - - ---------------------------------------------------------------------------------------------- Total Revenues $ 90,315 $ 46,950 $ 48,359 $ 49,809 $ 51,304 $ 52,843 $ 54,428 $ 56,061 EXPENSES Fuel Fuel - CT $ - $ - $ - $ - $ - $ - $ - $ - Natural Gas - Existing Plant 33,473 33,079 34,072 35,094 36,147 37,231 38,348 39,499 Biomass 3,970 - - - - - - - Coal 5,934 - - - - - - - Reliability - Back-Up Cost - - - - - - - - Reliability - Purchased Steam - - - - - - - - Secondary Dispatch Net Cost - - - - - - - - Purchased Power Cost - 527 543 559 576 593 611 629 ---------------------------------------------------------------------------------------------- Total Fuel 43,376 33,607 34,615 35,653 36,723 37,824 38,959 40,128 O &M - MESC 21,263 10,442 10,755 11,077 11,410 11,752 12,105 12,468 Cogen Expenses - - - - - - - - ---------------------------------------------------------------------------------------------- Total Expenses 64,639 44,048 45,370 46,731 48,133 49,576 51,064 52,596 ---------------------------------------------------------------------------------------------- EBITDA $ 25,676 $ 2,902 $ 2,989 $ 3,079 $ 3,171 $ 3,266 $ 3,364 $ 3,465 ============================================================================================== Interest Expense Cogen Interest - - - - - - - - New Debt Interest - - - - - - - - ---------------------------------------------------------------------------------------------- Total Interest Expense - - - - - - - - EBTDA $ 25,676 $ 2,902 $ 2,989 $ 3,079 $ 3,171 $ 3,266 $ 3,364 $ 3,465 ==============================================================================================
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands) MESC Projected Statement of Operations - Curtailed Demand Case
Income Statement Summary 2009 2010 2011 2012 2013 2014 2015 ------------------------ ------------------------------------------------------------------------------------ REVENUES "In-The-Fence" Electricity $ 34,850 $ 35,895 $ 36,972 $ 38,081 $ 39,224 $ 40,401 $ 41,613 Steam 22,893 23,579 24,287 25,015 25,766 26,539 27,335 ------------------------------------------------------------------------------------ Total "In-The-Fence" 57,743 59,475 61,259 63,097 64,990 66,940 68,948 "Over-The-Fence" Electricity - - - - - - - ------------------------------------------------------------------------------------ Total "Over-The-Fence" - - - - - - - Pulpco - - - - - - - KC Make-Up Payment - - - - - - - ------------------------------------------------------------------------------------ Total Revenues $ 57,743 $ 59,475 $ 61,259 $ 63,097 $ 64,990 $ 66,940 $ 68,948 EXPENSES Fuel Fuel - CT $ - $ - $ - $ - $ - $ - $ - Natural Gas - Existing Plant 40,684 41,904 43,161 44,456 45,790 47,163 48,578 Biomass - - - - - - - Coal - - - - - - - Reliability - Back-Up Cost - - - - - - - Reliability - Purchased Steam - - - - - - - Secondary Dispatch Net Cost - - - - - - - Purchased Power Cost 648 668 688 708 730 751 774 ------------------------------------------------------------------------------------ Total Fuel 41,332 42,572 43,849 45,164 46,519 47,915 49,352 O &M - MESC 12,842 13,227 13,624 14,033 14,454 14,887 15,334 Cogen Expenses - - - - - - - ------------------------------------------------------------------------------------ Total Expenses 54,174 55,799 57,473 59,197 60,973 62,802 64,686 ------------------------------------------------------------------------------------ EBITDA $ 3,569 $ 3,676 $ 3,786 $ 3,900 $ 4,017 $ 4,138 $ 4,262 ==================================================================================== Interest Expense Cogen Interest - - - - - - - New Debt Interest - - - - - - - ------------------------------------------------------------------------------------ Total Interest Expense - - - - - - - EBTDA $ 3,569 $ 3,676 $ 3,786 $ 3,900 $ 4,017 $ 4,138 $ 4,262 ====================================================================================
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands) MESC Projected Statement of Operations - Curtailed Demand Case Income Statement Summary 2016 2017 2018 2019 ------------------------ ------------------------------------------- REVENUES "In-The-Fence" Electricity $ 42,861 $ 44,147 $ 45,471 $ 46,835 Steam 28,155 29,000 29,870 30,766 -------------------------------------------- Total "In-The-Fence" 71,016 73,147 75,341 77,601 "Over-The-Fence" Electricity - - - - -------------------------------------------- Total "Over-The-Fence" - - - - Pulpco - - - - KC Make-Up Payment - - - - -------------------------------------------- Total Revenues $ 71,016 $ 73,147 $ 75,341 $ 77,601 EXPENSES Fuel Fuel - CT $ - $ - $ - $ - Natural Gas - Existing Plant 50,036 51,537 53,083 54,675 Biomass - - - - Coal - - - - Reliability - Back-Up Cost - - - - Reliability - Purchased Steam - - - - Secondary Dispatch Net Cost - - - - Purchased Power Cost 797 821 846 871 -------------------------------------------- Total Fuel 50,833 52,358 53,929 55,546 O &M - MESC 15,794 16,268 16,756 17,258 Cogen Expenses - - - - -------------------------------------------- Total Expenses 66,627 68,625 70,684 72,805 -------------------------------------------- EBITDA $ 4,390 $ 4,521 $ 4,657 $ 4,797 ============================================ Interest Expense Cogen Interest - - - - New Debt Interest - - - - -------------------------------------------- Total Interest Expense - - - - EBTDA $ 4,390 $ 4,521 $ 4,657 $ 4,797 ============================================ Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands) MESC Projected Cash Flow Statement - Curtailed Demand Case
2001 2002 2003 2004 2005 2006 2007 2008 2009 ------------------------------------------------------------------------------------------ EBITDA $ 25,676 $ 2,902 $ 2,989 $ 3,079 $ 3,171 $ 3,266 $ 3,364 $ 3,465 $ 3,569 Less: MESC Capital Expenditures 2,280 1,421 1,464 1,508 1,553 1,600 1,648 1,697 1,748 Less: Cogen Capital Expenditures 188 - - - - - - - - ------------------------------------------------------------------------------------------ Cash Flow After CapEx 23,209 1,481 1,525 1,571 1,618 1,666 1,716 1,768 1,821 Less: Taxes $ 4,877 $ 566 $ 583 $ 601 $ 619 $ 637 $ 657 $ 676 $ 697 Cash Flow After Tax 18,332 914 942 970 999 1,029 1,060 1,092 1,124 Plus: Other Income (1) 9,604 - - - - - - - - Less: Miscellaneous (2) (11,024) - - - - - - - - ------------------------------------------------------------------------------------------ (1,420) - - - - - - - - Plus: Cogen Debt Issuance - - - - - - - - - Less: Cogen Debt Service - - - - - - - - - ------------------------------------------------------------------------------------------ Cash Flow After Cogen Debt Issue / Payment 16,912 914 942 970 999 1,029 1,060 1,092 1,124 New Debt - Cash Interest Expense - - - - - - - - - New Debt - Principal Amortization - - - - - - - - - ------------------------------------------------------------------------------------------ Total New Debt Service - - - - - - - - - Cash Flow After New Debt Payment 16,912 914 942 970 999 1,029 1,060 1,092 1,124 Present Value of Cash Flow $ 15,374 $ 756 $ 708 $ 662 $ 620 $ 581 $ 544 $ 509 $ 477 Present Value of Cash Flows @ 10% $ 23,612 Present Value of Terminal EBITDA Multiple $ 4,314 Present Value of Excess Cash as of 12/31/2001 $ 9,668 NPV @ 10% $ 37,594 Present Value of Cash Flow $ 15,100 $ 729 $ 670 $ 616 $ 567 $ 521 $ 479 $ 441 $ 405 Present Value of Cash Flows @ 12% $ 22,162 Present Value of Terminal EBITDA Multiple $ 3,063 Present Value of Excess Cash as of 12/31/2001 $ 9,496 NPV @ 12% $ 34,720 Dividends to Bondholders - - - - - - - - - Beginning Cash Balance $ 13,635 $ 30,547 $ 31,461 $ 32,403 $ 33,373 $ 34,372 $ 35,401 $ 36,461 $ 37,552 Change in Cash 16,912 914 942 970 999 1,029 1,060 1,092 1,124 ------------------------------------------------------------------------------------------ Ending Cash Balance 30,547 31,461 32,403 33,373 34,372 35,401 36,461 37,552 38,677 ========================================================================================== Minimum Cash Balance $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000
(1) Includes interest income and the sale of the HSRG. (2) Includes payment of certain claims and changes in net working capital. Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands) MESC Projected Cash Flow Statement - Curtailed Demand Case
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 ------------------------------------------------------------------------------------------------- EBITDA $ 3,676 $ 3,786 $ 3,900 $ 4,017 $ 4,138 $ 4,262 $ 4,390 $ 4,521 $ 4,657 $ 4,797 Less: MESC Capital Expenditures 1,801 1,855 1,910 1,968 2,027 2,087 2,150 2,214 2,281 2,349 Less: Cogen Capital Expenditures - - - - - - - - - - ------------------------------------------------------------------------------------------------- Cash Flow After CapEx 1,876 1,932 1,990 2,049 2,111 2,174 2,240 2,307 2,376 2,447 Less: Taxes $ 717 $ 739 $ 761 $ 784 $ 807 $ 832 $ 857 $ 882 $ 909 $ 936 Cash Flow After Tax 1,158 1,193 1,229 1,266 1,304 1,343 1,383 1,424 1,467 1,511 Plus: Other Income (1) - - - - - - - - - - Less: Miscellaneous (2) - - - - - - - - - - ------------------------------------------------------------------------------------------------- - - - - - - - - - - Plus: Cogen Debt Issuance - - - - - - - - - - Less: Cogen Debt Service - - - - - - - - - - ------------------------------------------------------------------------------------------------- Cash Flow After Cogen Debt Issue / Payment 1,158 1,193 1,229 1,266 1,304 1,343 1,383 1,424 1,467 1,511 New Debt - Cash Interest Expense - - - - - - - - - - New Debt - Principal Amortization - - - - - - - - - - ------------------------------------------------------------------------------------------------- Total New Debt Service - - - - - - - - - - Cash Flow After New Debt Payment 1,158 1,193 1,229 1,266 1,304 1,343 1,383 1,424 1,467 1,511 Present Value of Cash Flow $ 447 $ 418 $ 392 $ 367 $ 343 $ 321 $ 301 $ 282 $ 264 $ 247 Present Value of Cash Flows @ 10% Present Value of Terminal EBITDA Multiple Present Value of Excess Cash as of 12/31/2001 NPV @ 10% Present Value of Cash Flow $ 373 $ 343 $ 315 $ 290 $ 267 $ 245 $ 226 $ 207 $ 191 $ 175 Present Value of Cash Flows @ 12% Present Value of Terminal EBITDA Multiple Present Value of Excess Cash as of 12/31/2001 NPV @ 12% Dividends to Bondholders - - - - - - - - - - Beginning Cash Balance $ 38,677 $ 39,835 $ 41,028 $ 42,256 $ 43,522 $ 44,826 $ 46,168 $ 47,551 $ 48,976 $ 50,443 Change in Cash 1,158 1,193 1,229 1,266 1,304 1,343 1,383 1,424 1,467 1,511 ------------------------------------------------------------------------------------------------- Ending Cash Balance 39,835 41,028 42,256 43,522 44,826 46,168 47,551 48,976 50,443 51,954 ================================================================================================= Minimum Cash Balance $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 3,000 (1) Includes interest income and the sale of the HSRG. (2) Includes payment of certain claims and changes in net working capital.
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands)
Energy Demand and Revenues - Curtailed Demand Case Demand 2001 2002 2003 2004 2005 2006 2007 2008 ------ --------------------------------------------------------------------------------------- Electricity (MWh) Tissue 369,529 379,691 379,691 379,691 379,691 379,691 379,691 379,691 Paper 201,973 - - - - - - - --------------------------------------------------------------------------------------- Total "In-The-Fence" Demand 571,502 379,691 379,691 379,691 379,691 379,691 379,691 379,691 Available for Resale - "Over-The-Fence" Market - Cogen - - - - - - - - Market - MESC - - - - - - - - --------------------------------------------------------------------------------------- Total "Over-The-Fence" Demand 0 0 0 0 0 0 0 0 Total Power Demand 571,502 379,691 379,691 379,691 379,691 379,691 379,691 379,691 Steam (mmbtu) Tissue 1,732,451 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 Paper 3,142,366 - - - - - - - --------------------------------------------------------------------------------------- Total Steam Demand 4,874,817 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 Revenues Electricity Tissue $ 22,171 $ 28,336 $ 29,186 $ 30,062 $ 30,964 $ 31,893 $ 32,849 $ 33,835 Paper 12,145 - - - - - - - --------------------------------------------------------------------------------------- Total "In-The-Fence" Revenues $ 34,316 $ 28,336 $ 29,186 $ 30,062 $ 30,964 $ 31,893 $ 32,849 $ 33,835 Available for Resale - "Over-The-Fence" Market - Cogen - - - - - - - - Market - MESC 224 - - - - - - - --------------------------------------------------------------------------------------- Total "Over-The-Fence" Revenues $ 224 $ - $ - $ - $ - $ - $ - $ - Total Power Revenues $ 34,540 $ 28,336 $ 29,186 $ 30,062 $ 30,964 $ 31,893 $ 32,849 $ 33,835 Steam Tissue $ 14,966 $ 18,614 $ 19,172 $ 19,747 $ 20,340 $ 20,950 $ 21,579 $ 22,226 Paper 26,047 - - - - - - - --------------------------------------------------------------------------------------- Total Steam Revenues $ 41,013 $ 18,614 $ 19,172 $ 19,747 $ 20,340 $ 20,950 $ 21,579 $ 22,226 Pulpco Revenue $ - $ - $ - $ - $ - $ - $ - $ -
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands) Energy Demand and Revenues - Curtailed Demand Case
Demand 2009 2010 2011 2012 2013 2014 2015 2016 ------ ------------------------------------------------------------------------------------- Electricity (MWh) Tissue 379,691 379,691 379,691 379,691 379,691 379,691 379,691 379,691 Paper - - - - - - - - ------------------------------------------------------------------------------------- Total "In-The-Fence" Demand 379,691 379,691 379,691 379,691 379,691 379,691 379,691 379,691 Available for Resale-"Over-The-Fence" Market - Cogen - - - - - - - - Market - MESC - - - - - - - - ------------------------------------------------------------------------------------- Total "Over-The-Fence" Demand 0 0 0 0 0 0 0 0 Total Power Demand 379,691 379,691 379,691 379,691 379,691 379,691 379,691 379,691 Steam (mmbtu) Tissue 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 Paper - - - - - - - - ------------------------------------------------------------------------------------- Total Steam Demand 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 Revenues Electricity Tissue $ 34,850 $ 35,895 $ 36,972 $ 38,081 $ 39,224 $ 40,401 $ 41,613 $ 42,861 Paper - - - - - - - - ------------------------------------------------------------------------------------- Total "In-The-Fence" Revenues $ 34,850 $ 35,895 $ 36,972 $ 38,081 $ 39,224 $ 40,401 $ 41,613 $ 42,861 Available for Resale-"Over-The-Fence" Market - Cogen - - - - - - - - Market - MESC - - - - - - - - ------------------------------------------------------------------------------------- Total "Over-The-Fence" Revenues $ - $ - $ - $ - $ - $ - $ - $ - Total Power Revenues $ 34,850 $ 35,895 $ 36,972 $ 38,081 $ 39,224 $ 40,401 $ 41,613 $ 42,861 Steam Tissue $ 22,893 $ 23,579 $ 24,287 $ 25,015 $ 25,766 $ 26,539 $ 27,335 $ 28,155 Paper - - - - - - - - ------------------------------------------------------------------------------------- Total Steam Revenues $ 22,893 $ 23,579 $ 24,287 $ 25,015 $ 25,766 $ 26,539 $ 27,335 $ 28,155 Pulpco Revenue $ - $ - $ - $ - $ - $ - $ - $ -
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands) Energy Demand and Revenues - Curtailed Demand Case Demand 2017 2018 2019 ------ -------------------------------- Electricity (MWh) Tissue 379,691 379,691 379,691 Paper - - - --------------------------------- Total "In-The-Fence" Demand 379,691 379,691 379,691 Available for Resale-"Over-The-Fence" Market - Cogen - - - Market - MESC - - - --------------------------------- Total "Over-The-Fence" Demand 0 0 0 Total Power Demand 379,691 379,691 379,691 Steam (mmbtu) Tissue 1,207,472 1,207,472 1,207,472 Paper - - - --------------------------------- Total Steam Demand 1,207,472 1,207,472 1,207,472 Revenues Electricity Tissue $ 44,147 $ 45,471 $ 46,835 Paper - - - --------------------------------- Total "In-The-Fence" Revenues $ 44,147 $ 45,471 $ 46,835 Available for Resale-"Over-The-Fence" Market - Cogen - - - Market - MESC - - - --------------------------------- Total "Over-The-Fence" Revenues $ - $ - $ - Total Power Revenues $ 44,147 $ 45,471 $ 46,835 Steam Tissue $ 29,000 $ 29,870 $ 30,766 Paper - - - --------------------------------- Total Steam Revenues $ 29,000 $ 29,870 $ 30,766 Pulpco Revenue $ - $ - $ - Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands)
MESC Fuel Schedule - Curtailed Demand Case 2001 2002 2003 2004 2005 2006 2007 2008 2009 ----------------------------------------------------------------------------------------------------- Fuel - CT $ - $ - $ - $ - $ - $ - $ - $ - $ - Natural Gas - Existing Plant 33,473 33,079 34,072 35,094 36,147 37,231 38,348 39,499 40,684 Biomass 3,970 0 0 0 0 0 0 0 0 Coal 5,934 0 0 0 0 0 0 0 0 Reliability - Back-Up Cost 0 0 0 0 0 0 0 0 0 Reliability - Purchased Steam 0 0 0 0 0 0 0 0 0 Secondary Dispatch Net Cost 0 0 0 0 0 0 0 0 0 Purchased Power Cost 0 527 543 559 576 593 611 629 648 ----------------------------------------------------------------------------------------------------- Total Fuel Cost $ 43,376 $ 33,607 $ 34,615 $ 35,653 $ 36,723 $ 37,824 $ 38,959 $ 40,128 $ 41,332
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands)
MESC Fuel Schedule - Curtailed Demand Case 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 ------------------------------------------------------------------------------------------------------ Fuel - CT $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Natural Gas - Existing Plant 41,904 43,161 44,456 45,790 47,163 48,578 50,036 51,537 53,083 54,675 Biomass 0 0 0 0 0 0 0 0 0 0 Coal 0 0 0 0 0 0 0 0 0 0 Reliability - Back-Up Cost 0 0 0 0 0 0 0 0 0 0 Reliability - Purchased Steam 0 0 0 0 0 0 0 0 0 0 Secondary Dispatch Net Cost 0 0 0 0 0 0 0 0 0 0 Purchased Power Cost 668 688 708 730 751 774 797 821 846 871 ------------------------------------------------------------------------------------------------------ Total Fuel Cost $ 42,572 $ 43,849 $ 45,164 $ 46,519 $ 47,915 $ 49,352 $ 50,833 $ 52,358 $ 53,929 $ 55,546
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands)
Revenue Unit Prices - Curtailed Demand Case 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 ----------------------------------------------------------------------------------------------------- Revenue - Unit Prices Electric ($ / MWh) Contract Tissue 60.00 74.63 76.87 79.17 81.55 84.00 86.52 89.11 91.79 94.54 97.37 100.30 103.30 Paper 60.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Steam ($ / mmbtu) Contract Tissue 8.64 15.42 15.88 16.35 16.84 17.35 17.87 18.41 18.96 19.53 20.11 20.72 21.34 Paper 8.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands) Revenue Unit Prices - Curtailed Demand Case 2014 2015 2016 2017 2018 2019 ---------------------------------------------- Revenue - Unit Prices Electric ($ / MWh) Contract Tissue 106.40 109.60 112.88 116.27 119.76 123.35 Paper 0.00 0.00 0.00 0.00 0.00 0.00 Steam ($ / mmbtu) Contract Tissue 21.98 22.64 23.32 24.02 24.74 25.48 Paper 0.00 0.00 0.00 0.00 0.00 0.00 Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands)
Steam & Power Rate Calculation Schedule - Curtailed Demand Case 2001 2002 2003 2004 2005 2006 2007 2008 2009 ----------------------------------------------------------------------------------------------------- Steam & Power Contract Price Calculation Steam Demand (mmbtu) Tissue 1,732,451 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 Paper 3,142,366 0 0 0 0 0 0 0 0 Electric (MHh) Tissue 369,529 379,691 379,691 379,691 379,691 379,691 379,691 379,691 379,691 Paper 201,973 0 0 0 0 0 0 0 0 Total Fuel Cost $43,376 $33,607 $34,615 $35,653 $36,723 $37,824 $38,959 $40,128 $41,332 Tissue Revenue Steam $ 4,301 $ 6,680 $ 6,881 $ 7,087 $ 7,300 $ 7,519 $ 7,744 $ 7,977 $ 8,216 Power 6,956 10,656 10,975 11,304 11,644 11,993 12,353 12,723 13,105 Fuel 21,254 16,467 16,961 17,470 17,994 18,534 19,090 19,663 20,253 ----------------------------------------------------------------------------------------------------- Total $ 32,512 $ 33,803 $ 34,817 $ 35,862 $ 36,938 $ 38,046 $ 39,187 $ 40,363 $ 41,574 Contract Prices Tissue ----------------------------------------------------------------------------------------------------- Steam ($/mmbtu) $ 8.64 $ 15.42 $ 15.88 $ 16.35 $ 16.84 $ 17.35 $ 17.87 $ 18.41 $ 18.96 Power ($/MWh) $ 60.00 $ 74.63 $ 76.87 $ 79.17 $ 81.55 $ 84.00 $ 86.52 $ 89.11 $ 91.79 ----------------------------------------------------------------------------------------------------- Paper Revenue Steam $ 9,958 $ 9,571 $ 9,858 $ 10,153 $ 10,458 $ 10,772 $ 11,095 $ 11,428 $ 11,771 Power 4,950 3,735 3,847 3,963 4,082 4,204 4,330 4,460 4,594 Fuel 22,122 17,139 17,653 18,183 18,729 19,290 19,869 20,465 21,079 ----------------------------------------------------------------------------------------------------- Total $ 37,031 $ 30,445 $ 31,359 $ 32,299 $ 33,268 $ 34,266 $ 35,294 $ 36,353 $ 37,444 Contract Prices Paper ----------------------------------------------------------------------------------------------------- Steam ($/mmbtu) $ 8.29 $ - $ - $ - $ - $ - $ - $ - $ - Power ($/MWh) $ 60.13 $ - $ - $ - $ - $ - $ - $ - $ - -----------------------------------------------------------------------------------------------------
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands)
Steam & Power Rate Calculation Schedule - Curtailed Demand Case 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 ------------------------------------------------------------------------------------------------------------ Steam & Power Contract Price Calculation Steam Demand (mmbtu) Tissue 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 1,207,472 Paper 0 0 0 0 0 0 0 0 0 0 Electric (MHh) Tissue 379,691 379,691 379,691 379,691 379,691 379,691 379,691 379,691 379,691 379,691 Paper 0 0 0 0 0 0 0 0 0 0 Total Fuel Cost $42,572 $43,849 $45,164 $46,519 $47,915 $49,352 $50,833 $52,358 $53,929 $55,546 Tissue Revenue Steam $ 8,463 $ 8,716 $ 8,978 $ 9,247 $ 9,525 $ 9,810 $ 10,105 $ 10,408 $ 10,720 $ 11,042 Power 13,498 13,903 14,320 14,750 15,192 15,648 16,117 16,601 17,099 17,612 Fuel 20,860 21,486 22,131 22,794 23,478 24,183 24,908 25,655 26,425 27,218 ------------------------------------------------------------------------------------------------------------ Total $ 42,821 $ 44,105 $ 45,429 $ 46,791 $ 48,195 $ 49,641 $ 51,130 $ 52,664 $ 54,244 $ 55,871 Contract Prices Tissue ------------------------------------------------------------------------------------------------------------ Steam ($/mmbtu) $ 19.53 $ 20.11 $ 20.72 $ 21.34 $ 21.98 $ 22.64 $ 23.32 $ 24.02 $ 24.74 $ 25.48 Power ($/MWh) $ 94.54 $ 97.37 $ 100.30 $ 103.30 $ 106.40 $ 109.60 $ 112.88 $ 116.27 $ 119.76 $ 123.35 ------------------------------------------------------------------------------------------------------------ Paper Revenue Steam $ 12,124 $ 12,487 $ 12,862 $ 13,248 $ 13,645 $ 14,055 $ 14,476 $ 14,911 $ 15,358 $ 15,819 Power 4,732 4,874 5,020 5,170 5,326 5,485 5,650 5,819 5,994 6,174 Fuel 21,712 22,363 23,034 23,725 24,437 25,170 25,925 26,702 27,504 28,329 ------------------------------------------------------------------------------------------------------------ Total $ 38,567 $ 39,724 $ 40,916 $ 42,143 $ 43,408 $ 44,710 $ 46,051 $ 47,433 $ 48,856 $ 50,321 Contract Prices Paper ------------------------------------------------------------------------------------------------------------- Steam ($/mmbtu) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Power ($/MWh) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - -------------------------------------------------------------------------------------------------------------
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands)
O&M & Capital Expenditure Schedule - Curtailed Demand Case 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 --------------------------------------------------------------------------------------------------------------- Total MESC O&M $ 21,263 $ 10,442 $ 10,755 $ 11,077 $ 11,410 $ 11,752 $ 12,105 $ 12,468 $ 12,842 $ 13,227 $ 13,624 Capital Expenditures MESC $ 2,280 $ 1,421 $ 1,464 $ 1,508 $ 1,553 $ 1,600 $ 1,648 $ 1,697 $ 1,748 $ 1,801 $ 1,855 CT Construction - - - - - - - - - - - CT Maintenance - - - - - - - - - - - --------------------------------------------------------------------------------------------------------------- Total 2,280 1,421 1,464 1,508 1,553 1,600 1,648 1,697 1,748 1,801 1,855
Mobile Energy Services Company, L.L.C. Summary Financial Analysis ($ in thousands)
O&M & Capital Expenditure Schedule - Curtailed Demand Case 2012 2013 2014 2015 2016 2017 2018 2019 -------------------------------------------------------------------------------- Total MESC O&M $ 14,033 $ 14,454 $ 14,887 $ 15,334 $ 15,794 $ 16,268 $ 16,756 $ 17,258 Capital Expenditures MESC $ 1,910 $ 1,968 $ 2,027 $ 2,087 $ 2,150 $ 2,214 $ 2,281 $ 2,349 CT Construction - - - - - - - - CT Maintenance - - - - - - - - -------------------------------------------------------------------------------- Total 1,910 1,968 2,027 2,087 2,150 2,214 2,281 2,349