2016 FEED-IN TARIFF ALLOWANCE RATE APPLICATION EXPOSITORY - - PowerPoint PPT Presentation

SLIDE 1

2016 FEED-IN TARIFF ALLOWANCE RATE APPLICATION

EXPOSITORY PRESENTATION

Pasig, March 8, 2016 DINNA O. DIZON

Head, FIT-All Team National Transmission Corporation

SLIDE 2

OUTLINE OF PRESENTATION

• I. Background
• II. FIT-All Rate Determination
• III. Status Update

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SLIDE 3

• I. BACKGROUND

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SLIDE 4

FIT-ELIGIBLE RE PLANTS

as of February 24, 2016 Plant Type Number Capacity for FIT (MW) Solar 6 68.08 Wind 7 426.9 Biomass 6 69.33 Run of River Hydro 3 25.93 TOTAL 22 590.24

4

SLIDE 5

RE PLANTS with RE Payment Agreement (REPA)

as of February 24, 2016 Plant Type

Effective REPA Signed REPA*

On Process**

No. MW No. MW No. MW Solar 6 68.08 6 244.44 7 105.27 Wind 7 426.90

• Biomass

6 69.33 6 70.1

• Run of River

Hydro 3 25.93 1 1.80

• TOTAL

22*** 590.24 13 316.34 7 105.27

*Includes REPA signed by both parties/being routed for signature of TransCo/those being notarized at TransCo **Includes REPA currently being signed by RE developer and applications for REPA with lacking documents *** Of the 22 REPAs, FIT billings for 20 REPAs have commenced

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SLIDE 6

PAYMENT OF FIT REVENUES

Total generation billed as of December 2015 Billing Period and FIT Differential balance as of 24 February 2016:

Note: ‘Actual Energy Generation Billed’ does not yet reflect energy generation in 2014/2015 1) That has not actually been billed (one at a time billing of backlog per REPA) 2) Of potentially FIT-eligible RE Plants that have not been granted/have just been granted FIT COC to date but have COD in 2014 or 2015. Wind 635,296.68 3,383,651,980.51 1,426,643,935.69 Solar 92,188.58 446,124,228.07 128,269,652.66 Biomass 92,271.80 352,314,649.15 177,359,050.88 Hydro 48,878.44 111,436,041.08 77,385,803.58 TOTAL 868,635.51 4,293,526,898.80 1,809,658,442.81 FIT DIFFERENTIAL BALANCE, Pesos RE TECHNOLOGY ACTUAL ENERGY GENERATION BILLED (MWH) FIT DIFFERENTIAL DUE, Pesos

6

SLIDE 7

2015 COLLECTION EFFICIENCY

FIT-ALL COLLECTION AGENTS PEMC (FOR THE ACRR) 94.62% 99.00%

Actual as of February 24, 2016

As Estimated in the 2016 FIT-All Application

FIT-ALL COLLECTION AGENTS PEMC (FOR THE ACRR) 96.03% 99.27%

7

SLIDE 8

2015 COLLECTION AND DISBURSEMENT, Php

Cash Receipts FIT-All Collection (March-2015 February 24, 2016) 2,543,383,229.12 CRR Collection (June 2015- February 24, 2016) 1,226,769,683.13 Interest on Deposits 289,541.58 Total 3,770,442,453.83 Disbursements Payment to RE Developers 3,710,846,715.95 Payment of Interest 610,003.78 Payment to LBP (Mar-November 2015) 520,000.00 Total 3,711,976,719.73 FIT-All Fund Balance, as of February 24, 2016 58,465,734.10 FIT-ALL STATEMENT OF CASH FLOW

As of February 24, 2016

Balance of Payables to RE (with Billings) Total RE Claim (April 2015 - January 31, 2016) 5,532,710,608.86 Total Payment to RE (May 2015 -Feb 24, 2016) 3,710,846,715.95 Unpaid RE Claim as of February 24, 2016 1,821,863,892.92

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SLIDE 9

• II. 2016 FIT-All Rate

Determination

Note: Calculations made were based on actual billing data as

• f August 2015

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SLIDE 10

Guidelines on the Collection of the Feed- in Tariff Allowance (FIT-All) and the Disbursement of the FIT-All Fund (“FIT-All Guidelines”)

10

BASIS

SLIDE 11

• a. No degression of the FIT Rates for 2016 but with

adjustments due to inflation and forex; Solar FIT 2 and Wind FIT 2 were used

• b. Line-up of plants are for computation purposes
• nly; does not automatically entitle listed plants to

FIT nor payment thereof

• c. As a rule, projected generation forecast provided

by RE were used (if provided), otherwise DOE forecasts were used; or, if RE projections were perceived to be too high, then DOE forecasts were used

• d. Actual energy generation levels of operational RE

Plants that were available were considered

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ASSUMPTIONS

SLIDE 12

• e. Solar projects considered only until March 15,

2016 per DOE list (with due consideration to the indivisibility of projects) f. For Wind, Bangui 1 & 2 (existing before the RE Law) were included in the line-up at a FIT Rate of P5.76/kWh

• g. 2014-2015 under-recoveries were included in the

determination of the 2016 FIT-All

• h. NREB recommended formula for Factor Rate from

the 2014-2015 FIT-All application was used in the computation of WCA, with updated input data

12

ASSUMPTIONS

SLIDE 13

• a. List of Projected FIT Eligible RE Developers and

Capacities/Generation Forecast (DOE)

• b. Actual and Projected Generation from RE Developers
• c. Forecast National Sales (DOE)
• d. Approved FIT Rates (ERC)
• e. CPI and FOREX (BSP website)
• f. Market

Price and Blended Generation Cost (PEMC/DASURECO/kuryente.org)

• g. Factor Rate in the Computation of WCA (NREB

formula)

• h. Collection Efficiency in the Computation of WCA

(actual collection efficiency of FIT-All Fund Collection Agents)

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• I. Data Sources

SLIDE 14

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PROJECTED FIT ELIGIBLE RE CAPACITIES & INSTALLATION TARGETS

• No. of

Plants Installed Capacity,

• No. of

Plants Installed Capacity, BIOMASS 15 153.196 16 160.49 EXISTING 6 60.926 6 60.926 NEW 9 92.27 10 99.564 HYDROPOWER 5 35.73 12 59.98 EXISTING 2 5.6 2 5.6 NEW 3 30.13 10 54.38 SOLAR 11 161.9 22 523.02 NEW 11 161.9 22 523.02 WIND 7 426.9 7 426.9 EXISTING 1 33 1 33 NEW 6 393.9 6 393.9 TOTAL 38 777.726 57 1170.39 EXISTING 9 99.526 9 99.526 1400 NEW 29 678.2 48 1070.864 400 Installation Targets 2015 2016 250 250 500

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PROJECTED FIT ELIGIBLE PLANTS FOR 2015 & 2016

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SLIDE 16

PROJECTED FIT ELIGIBLE PLANTS FOR 2015 & 2016

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PROJECTED FIT ELIGIBLE PLANTS FOR 2015 & 2016

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SLIDE 18

PROJECTED FIT ELIGIBLE PLANTS FOR 2015 & 2016

SLIDE 19

19 ADMINISTRATION ALLOWANCE (AA)

FIT

DIFFERENTIAL (FD) WORKING CAPITAL ALLOWANCE (WCA)

FIT ALL RATE, P/kWh

DISBURSEMENT ALLOWANCE (DA)

FORECAST NATIONAL SALES (FNS)

FIT All (𝑄 𝑙𝑋ℎ ) = FD + WCA + AA + DA FNS

FIT-ALL FORMULA

SLIDE 20

𝐷𝐵𝐻𝑆𝑢𝑝,𝑢𝑜 = 𝑊

𝑢𝑜

𝑊

𝑢𝑝 1 𝑢𝑜−𝑢𝑝

− 1

20

2012 2013 2014 2015 2016 Luzon 44,063,677,000 45,803,175,000 47,240,505,000 Visayas 7,646,701,000 7,867,617,000 8,039,020,000 Mindanao 7,500,241,000 7,894,820,000 8,065,259,000 Sales, kWh 59,210,619,000 61,565,612,000 63,344,784,000 65,962,899,825 68,380,633,362 Growth Rate 5.19 3.66 4.13 3.67 3.56

FORECAST ELECTRICITY SALES, kWh ACTUAL ELECTRICITY SALES, kWh

FORECAST ANNUAL NATIONAL SALES

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FIT DIFFERENTIAL

TOTAL FIT REVENUE ( Forecast Annual RE Generation x FIT Rate

FORECAST COST RECOVERY REVENUE ( Forecast Annual RE Generation x CRR Rate

(OVER)/UNDER RECOVERY

DATA NEEDED SOURCE FIT Eligible RE Actual/Forecast Annual Generation 2014- 2016 DOE/RE FIT Rate ERC CRR Rate Luzon & Visayas (LWAP) Mindanao (Blended Rate of Host DU) DASURECO

ZAMCELCO, MAGELCO, BUSECO. MORESCO II, SOCOTECO II

PEMC

ERC Decision on 2014- 2015 FIT-All Application www.kuryente.org

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FIT DIFFERENTIAL

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Technology 2014-2015 2016 2017 Biomass 309,839 682,407 761,454 Hydropower 108,271 187,342 492,222 Solar 158,580 632,686 707,963 Wind 875,169 977,205 977,477 Total 1,451,859 2,479,639 2,939,116

• FORECAST ANNUAL GENERATION, MWH

SLIDE 23

23

2014-2015 Entrant 2016 Entrant Biomass 6.6300 7.0508 7.0508 Hydro 5.9000 6.4601 6.4601 Solar FIT 1 9.6800 9.9067 FIT 2 8.6900 8.6900 8.6900 Wind FIT 1 8.5300 8.9006 FIT 2 7.4000 7.4000 Average Forex (Jul2014-June2015) 44.4187 Average CPI(Jul2014-June2015) 140.9500 2015 Base FIT Rate 2016 Adjusted FIT-Rate

ADJUSTED FIT RATE, Php/kWh

SLIDE 24

24 Month Luzon Visayas Luzon Visayas Month Luzon Visayas Luzon Visayas 1 Aug.2015 3,691.00 3,953.00 3.6910 3.9530 19 Feb.2014 2,487.60 2.4876 2 Jul.2015 4,518.00 4,186.00 4.5180 4.1860 20 Jan.2014 2,308.88 2.3089 3 Jun.2015 6,322.00 6,864.00 6.3220 6.8640 21 Dec.2013 18,193.89 18.1939 4 May.2015 4,457.00 4,839.00 4.4570 4.8390 22 Nov.2013 16,122.20 3,181.91 16.1222 3.1819 5 Apr.2015 2,810.00 2,905.00 2.8100 2.9050 23 Oct.2013 6,641.10 6,319.51 6.6411 6.3195 6 Mar.2015 5,075.00 5,337.00 5.0750 5.3370 24 Sept.2013 2,678.01 3,027.90 2.6780 3.0279 7 Feb.2015 5,079.00 5,225.00 5.0790 5.2250 25 Aug.2013 3,202.23 2,949.65 3.2022 2.9497 8 Jan.2015 3,367.00 3,477.00 3.3670 3.4770 26 Jul.2013 2,864.93 2,876.17 2.8649 2.8762 9 Dec.2014 2,068.00 2,812.00 2.0680 2.8120 27 Jun.2013 4,309.76 4,054.88 4.3098 4.0549 10 Nov.2014 3,253.00 3,874.00 3.2530 3.8740 28 May.2013 6,023.34 6,014.31 6.0233 6.0143 11 Oct.2014 3,539.00 1,706.00 3.5390 1.7060 29 Apr.2013 6,993.49 7,158.28 6.9935 7.1583 12 Sept.2014 5,544.00 (528.00) 5.5440 (0.5280) 30 Mar.2013 4,889.87 4,226.06 4.8899 4.2261 13 Aug.2014 5,694.00 4,571.00 5.6940 4.5710 31 Feb.2013 2,791.71 2,626.82 2.7917 2.6268 14 Jul.2014 8,104.00 7,745.00 8.1040 7.7450 32 Jan.2013 3,038.42 3,248.66 3.0384 3.2487 15 Jun.2014 6,443.00 6,730.00 6.4430 6.7300 33 Dec.2012 6,106.52 6,157.75 6.1065 6.1578 16 May.2014 6,642.33 7,220.01 6.6423 7.2200 34 Nov.2012 5,393.59 5,495.79 5.3936 5.4958 17 Apr.2014 9,950.57 6,377.21 9.9506 6.3772 35 Oct.2012 6,408.79 5,555.74 6.4088 5.5557 18 Mar.2014 6,788.21 6.7882 36 Sept.2012 4,301.10 4,704.07 4.3011 4.7041 Average 5,502.7928 4,527.8350

5.5028 4.5278

LWAP, Pesos per MWh LWAP, Pesos per KWh LWAP, Pesos per MWh LWAP, Pesos per KWh

FORECAST COST RECOVERY RATE (WESM)

SLIDE 25

25

Month 4.7592 Month 3.9706 Month 2.7801 Month 3.7339 Month 3.3684 Month 4.7054 Jul-14 Mar-13

3.7733

Apr-13

2.9111

Mar-14

3.9461 Dec-13 5.4322 Jun-14 5.5771

Aug-14 Apr-13

4.0039

May-13

2.9252

Apr-14

3.8874 Nov-13 5.2457 May-14 5.6809

Sep-14 May-13

3.6946

Jun-13

2.9397

May-14

3.9548 Oct-13 2.7676 Apr-14 4.9506

Oct-14 Jun-13

4.1716

Jul-13

2.9602

Jun-14

3.7615 Sep-13 2.8466 Mar-14 4.4668

Nov-14 Jul-13

4.0879

Aug-13

2.6801

Jul-14

3.5164 Aug-13 2.7133 Feb-14 4.0333

Dec-14 Aug-13

3.4498

Sep-13

2.6528

Aug-14

3.1716 Jul-13 3.1204 Jan-14 4.4126

Jan-15 Sep-13

4.0745

Oct-13

2.5975

Sep-14

3.2394 Jun-13 3.0294 Dec-13 4.6436

Feb-15 Oct-13

4.4505

Nov-13

2.5852

Oct-14

3.6330 May-13 3.0684 Nov-13 4.9149

Mar-15 Nov-13

4.2953

Dec-13

2.6471

Nov-14

3.6700 Apr-13 3.0450 Oct-13 5.0902

Apr-15 Dec-13

3.8422

Jan-14

2.5929

Dec-14

3.5871 Mar-13 3.0718 Sep-13 4.6593

May-15 Jan-14

3.8280

Feb-14

2.9262

Jan-15

3.1864 Mar-12 2.9806 Aug-13 3.6858

Jun-15 Feb-14

3.9756

Mar-14

2.9437

Feb-15

5.2533 Feb-12 3.1000 Jul-13 4.3502 Magelco Zamcelco Dasureco Buseco Moresco II Socoteco II For Mindanao

Bsed on ERC Decision dated Sept 29, 2015 (page 44)

HOST DUs BLENDED GENERATION COST

SLIDE 26

FIT DIFFERENTIAL

TOTAL FIT REVENUE ( Forecast Annual RE Generation x FIT Rate

FORECAST COST RECOVERY REVENUE ( Forecast Annual RE Generation x CRR Rate

(OVER)/UNDER RECOVERY

26

Forecast FD Payables for 2015 4,295,483,186.44 Actual FD Payment (As of Oct 5, 2015) 1,345,372,909.88 Forecast Balance as of Oct 5, 2015 2,950,110,276.56 Estimated FD Payment (Oct 6, 2015-Feb, 2016) 1,114,202,382.48 Estimated (Over) Under Recoveries for 2015 1,835,907,894.08 FD Under Recoveries, P/kWh

0.0268

FIT DIFFERENTIAL (UNDER-RECOVERY)

SLIDE 27

FIT DIFFERENTIAL

TOTAL FIT REVENUE ( Forecast Annual RE Generation x FIT Rate

FORECAST COST RECOVERY REVENUE ( Forecast Annual RE Generation x CRR Rate

(OVER)/UNDER RECOVERY

27

2016 FIT Revenue 19,676,565,718.08 Less Forecast Cost Recovery Revenue 12,750,781,279.58 2016 FIT Differential 6,925,784,438.51 Add: 2015 FD (Over)Under Recoveries 1,835,907,894.08 FIT Differential Requirement 8,761,692,332.59 FIT Differential P/kWh

0.1281

FIT DIFFERENTIAL

SLIDE 28

WCA t+1

Forecast Annual Payout

t+2

Factor Rate

WCA Ending Balancet

DATA NEEDED SOURCE Forecast Annual Payoutt+2 As computed Factor Rate NREB formula

28

WORKING CAPITAL ALLOWANCE

SLIDE 29

29

Particulars 2017 Forecast Cost Recovery Revenue 14,803,839,476 FIT Differential 8,057,232,521 Administration Allowance

• Disbursement Allowance

1,054,100 Total Annual Payout 22,862,126,096

2017 FORECAST ANNUAL PAYOUT, PHP

SLIDE 30

COMPONENTS DATA SOURCE

Cost Recovery Revenue-WESM As computed Total Annual Payout As computed Factor RateWESM

1- PEMC Collection Efficiency

Collection Efficiency (Actual) FD,AA,DA, CRRNon-WESM As computed Factor RateFIT-All

𝟐 𝟐𝟑

+(𝟐−𝑫𝒑𝒎𝒎𝒇𝒅𝒖𝒋𝒑𝒐 𝑭𝒈𝒈𝒋𝒅𝒋𝒇𝒐𝒅𝒛𝑭𝑫,𝑬𝑽,𝑶𝑯𝑫𝑸) 𝑫𝒑𝒎𝒎𝒇𝒅𝒖𝒋𝒑𝒐 𝑭𝒈𝒈𝒋𝒅𝒋𝒇𝒐𝒅𝒛𝑭𝑫,𝑬𝑽,𝑶𝑯𝑫𝑸

Collection Efficiency (Actual)

Factor Rate

CRRWESM

Total Annual Payout

Factor RateWESM

FD,AA,DA, CRRNon-

WESM

Total Annual Payout

Factor RateFIT All

30

FACTOR RATE FORMULA (As Recommended by NREB)

SLIDE 31

*per NREB Resolution No. 3 Series of 2014

Factor Rate

CRR- WESM Total Annual Payout

Factor RateWESM

FD,AA,DA, CRRNon-

WESM

Total Annual Payout

Factor RateFIT All

31

CRRWESM FD,AA, DA, CRRNon-

WESM

Annual Payout 13,405,891,346 9,456,234,750 Divided By: Total Annual Payout 22,862,126,096 22,862,126,096 Ratio 0.5864 0.4136 X Factor Rate 0.73% 12.30% Weighted Factor Rate 0.43% 5.09% Effective Factor Rate

5.5145%

FACTOR RATE

SLIDE 32

WCA ENDING BALANCE COMPUTATION, Php

Forecast CRR Receivable (Sept 2015-Dec 2015) 3,837,875,248.49 Expected CRR Collection (99.27% Collection Efficiency) 3,810,015,943.94 27,859,304.54 Add: 2015 Disbursement Allowance 739,990.00 28,599,294.54 Estimated Uncollected CRR WCA Deficiency

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SLIDE 33

WCA t+1

Forecast Annual Payout t+2

Factor Rate

WCA Ending Balancet

33

Technology 2016 2017 Forecast Annual Payout

19,677,619,818

22,862,126,096 x Factor Rate

5.5145%

5.5145% Equals: Portion of Annual Payout

1,085,129,553

1,260,740,318 Less: WCA Ending Balance (Year n) (28,599,295) Working Capital Allowance 1,289,339,613 WCA P/kWh

0.0189 WORKING CAPITAL ALLOWANCE (WCA) PhP

SLIDE 34

ADMINISTRATION ALLOWANCE (AA)

TransCo proposes an Administration Allowance of zero (0).

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SLIDE 35

DISBURSEMENT ALLOWANCE, PhP

35

ANNUAL TRUST FEE 720,000.00 BSP Supervision Fee (1/28 of 1%) of Asset Under Management 281,599.95 ONCOL FEE Php 40.00/ transaction (free 180 transactions) 52,500.00 DISBURSEMENT ALLOWANCE, Php 1,054,099.95 DISBURSEMENT ALLOWANCE, Php/KWh

0.00002

SLIDE 36

36

AA

FD

WCA

FIT ALL RATE, P/kWh

DA FNS

COMPONENTS Amount (Php) Rate (P/kWh) Share FD 8,761,692,333 0.1281 87.16% WCA 1,289,339,613 0.0189 12.83% AA 0.0000 0.00% DA 1,054,100 0.0000 0.01% Total 10,052,086,045 FNS, kWh 68,380,633,362 FIT-All, Php/kWh

0.1470

SUMMARY OF 2016 FIT ALL RATE APPLICATION

SLIDE 37

2016 FIT-ALL RATE BUILD-UP, Php/kWh

2016 FIT-All Rate Build-Up 0.0406

SOURCES OF INCREASE (DECREASE)

Pesos Pesos/kWh 1,080,780,822.65

0.0158

0.0564

4,386,951,533.72

0.0642

0.1205 FIT Differential

3,676,324,470.08

0.0538

WCA

710,627,063.64

0.0104

231,544,904.42

0.0034

0.1239 FIT Differential

247,120,185.13

0.0036

WCA

(15,575,280.70)

(0.0002)

(286,704,903.71)

(0.0042)

0.1197 WCA

(286,704,903.71)

(0.0042)

• 0.0000

0.1197 Administrative Allowance

• 0.0000

DA Effect on WCA

• 0.0000

1,112,228.68

0.0000

0.1197 Disbursement Allowance

1,054,099.95

0.0000

DA Effect on WCA

58,128.73

0.0000

28,599,294.54

0.0004

0.1202

1,835,907,894.08

0.0268

0.1470

NET INCREASE (DECREASE)

5,700,389,489.47

0.1064

• 3. Change in FIT Rate/ACRR
• 6. Inclusion of Disbursement Allowance
• 4. Change in Factor Rate
• 5. Inclusion of Administrative Allowance
• 8. FIT Differential Underrecoveries
• 7. WCA, Ending Balance

Increase from 2014-2015 Application

• 1. Change In Energy Sales (Denominator)
• 2. Change in Energy Generation

2014-2015 Approved FIT-All Rate

37

SLIDE 38

ADDITIONAL ANALYSIS: RE PLANT STATUS

as of October 2015

Plant Type

WITH PAYMENT AS OF OCT. 5 P.D. WITH FIT COC/EFFECTIVE REPA BUT NOT YET BEING PAID WITH COE FROM DOE WITH NOMINATION FROM DOE TOTAL No. MW No. MW No. MW No. MW No. MW

SOLAR 6 68.08 2 64.30 8 132.38 WIND 3 249.90 2 33.00 3 144.00 7 426.90 BIOMASS 2 20.19 1 22.64 5 45.10 2 32 11 119.93 HYDRO 1 8.13 1 14.00 2 5.60 4 27.73 TOTAL 12 346.30 4 69.64 12 259.00 2 32 30 706.94

38

SLIDE 39

39

Increase/ (Decrease) Total Increase/ (Decrease) Total Increase/ (Decrease) Total Increase/ (Decrease) Total MW 345.92 69.64 415.56 259.00 674.56 32.00 706.56 463.84 1,170.39 MWH 807,951 172,651 980,602 626,073 1,606,675 153,032 1,759,707 719,933 2,479,639 FIT-ALL Rate, P/kWh FD 0.0508 0.0034 0.0543 0.0341 0.0883 0.0042 0.0925 0.0356 0.1281 WCA 0.0058 0.0004 0.0062 0.0032 0.0095 0.0005 0.0100 0.0089 0.0189 AA 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 DA 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 FIT-ALL Rate, 0.0566 0.0038 0.0605 0.0373 0.0978 0.0047 0.1025 0.0445 0.1470 FIT COC- Certificate of Compliance Issued by the ERC COE-Certificate of Endorsement issued by the DOE Nomination-Issued by the COE With FIT COC With Payment As of October 5, With COE With Nomination Others in the DOE List

INCREMENTAL MOVEMENT OF THE 2016 FIT-ALL FOR DIFFERENT RE PLANT/PROJECT CATEGORIES

SLIDE 40

• a. To grant Provisional Authority to collect the FIT-All of PhP/kWh 0.1025

effective January 2016 billing period

• b. To direct Collection Agents such as DUs, RES and NGCP to bill, collect

and remit the FIT-All to the FIT-All Fund as provided in the FIT-All Guidelines

• c. To direct PEMC and Host DUs to remit the CRR to the FIT-All Fund as

provided in the FIT-All Guidelines

• d. To approve the Factor Rate resulting from an updating of inputs in the

recommended formula by the NREB under the 2014-2015 FIT-All Application and adopt the same in the computation of the WCA and the FIT-All Rate for 2016

• e. To approve the FIT-All Rate for 2016 as applied after due notice and

hearing, OR IN THE ALTERNATIVE, such other amount as may be found by the ERC to be consistent with the FIT-All Guidelines and on the basis

• f new and updated information not available at the time of filing

f. To waive the payment of ERC supervision fees, if any

40

FIT-ALL APPLICATION-PRAYER

SLIDE 41

• III. STATUS UPDATE

41

SLIDE 42

RE PLANT STATUS

as of March 7, 2016

Plant Type

WITH PAYMENT AS OF MARCH 5 P.D. WITH FIT COC/EFFECTIVE REPA BUT NOT YET BEING PAID WITH COE FROM DOE WITH NOMINATION FROM DOE TOTAL No. MW No. MW No. MW No. MW No. MW

SOLAR 6 68 4 92 10 301 20 461 WIND 5 358 2 69 7 427 BIOMASS 5 56 1 14 5 56 2 15 13 140 HYDRO 2 22 1 4 1 2 1 8 5 36 TOTAL 18 504 4 87 10 149 13 323 45 1,063

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SLIDE 43

END OF PRESENTATION Thank you.