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Power Purchase Agreement from a Utility Perspective

Power Purchase Agreement from a Utility Perspective. Are Geothermal Projects Different than Other Resources?. Marilynn Semro Seattle City Light May 11, 2005. Agenda. In the beginning Minimum Information Requirements Plan for an Agreement = MOU Long-term PPA Where do we go from here.

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Power Purchase Agreement from a Utility Perspective

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  1. Power Purchase Agreementfrom a Utility Perspective Are Geothermal Projects Different than Other Resources? Marilynn Semro Seattle City Light May 11, 2005

  2. Agenda • In the beginning • Minimum Information Requirements • Plan for an Agreement = MOU • Long-term PPA • Where do we go from here Seattle City Light

  3. In the beginning • There are hurdles • Integrated Resource Plan • Request for Proposals (“RFP”) • Memorandum of Understanding (“MOU”) • Letter of Intent (“LOI”) or … • Purchase and Sale Agreement (“PPA”) • Or maybe in lieu of an RFP • If the utility provides for “cost-effective renewable opportunities” they will accept unsolicited proposals Seattle City Light

  4. Min Information Requirements • Project description including generation type, location, size, expected annual energy, on-line date, term, cost, inclusion of environmental attributes • Status of leases, permits, environmental review • Shape of energy • Transmission • Interconnection point • Status of transmission service reservations or studies • Project schedule • Project ownership, financing, developer experience Seattle City Light

  5. Plan for Agreement = MOU • Typically includes: • Resource Description • Amount + Associated Environmental Attributes • Term, Extensions • Price • Point of Interconnection • “Boiler Plate” • E.g. Assignment, Good Faith, Confidentiality, Conditions Subsequent, Nature of the MOU, Governing Law & Venue Seattle City Light

  6. Plan for Agreement = MOUcont’d • Other Provisions: • Milestones for Resource Development • Obtaining exploratory drilling permits • Commence exploratory drilling • Report of sufficiency documenting quality and quantity of the resource for economic development • All required permits and regulatory approvals including EIS • Construction financing • On-line date • Defines party responsible and timeline for securing transmission • Termination provisions for failure to meet milestones • Output guaranty Seattle City Light

  7. Long-Term PPA Seattle City Light

  8. Where Do We Go From Here? • Approval • Implementation and Resource/Contract Management Seattle City Light

  9. Questions • ? Seattle City Light

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