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ORDER NO. PSC -2018 -0085 -PAA -EQ
<br />DOCKET NO. 20170226 -EQ
<br />PAGE
<br />begin receiving capacity payments earlier than the in-service date of the avoided unit. However,
<br />payments made under the early capacity payment options tend to be lower in the later years of
<br />the contract term because the net present value (NPV) of the total payments must remain equal
<br />for all contract payment options.
<br />Table 1 below contains FPL's estimates of the annual payments for each payment option
<br />available under the revised standard offer contract. It assumes an operator with a 50 MW facility,
<br />operating at a capacity factor of 94 percent, which is the minimum capacity factor required under
<br />the contract to qualify for full capacity payments. Normal and levelized capacity payments begin
<br />in 2028, reflecting the projected in-service date of the avoided CC unit (June 1, 2028).
<br />Table 1- Estimated Annual Payments to a 50 MW Renewable Facility
<br />(94% Capacity Factor)
<br />Source: FPL's Response to Our Second Data Request
<br />3Document No. 00228-2018, filed January 10, 2018, in Docket No. 20170226 -EQ.
<br />Energy
<br />Payment
<br />Capacity Payment
<br />Normal
<br />(By Type)
<br />Levelized
<br />Early
<br />Early
<br />Levelized
<br />Year
<br />$(000)
<br />$ 000
<br />$(000)
<br />$(000)
<br />$ 000
<br />2018
<br />11,440
<br />-
<br />-
<br />-
<br />-
<br />2019
<br />13,394
<br />-
<br />-
<br />-
<br />-
<br />2020
<br />10,973
<br />-
<br />-
<br />-
<br />-
<br />2021
<br />11,645
<br />-
<br />-
<br />-
<br />-
<br />2022
<br />10,885
<br />-
<br />-
<br />-
<br />-
<br />2023
<br />11,133
<br />-
<br />--
<br />-
<br />2024
<br />12,500
<br />-
<br />-
<br />2,534
<br />2,905
<br />2025
<br />12,420
<br />-
<br />-
<br />2,598
<br />2,905
<br />2026
<br />13,715
<br />-
<br />-
<br />2,663
<br />2,905
<br />2027
<br />14,649
<br />-
<br />-
<br />2,729
<br />2,905
<br />2028
<br />13,941
<br />4,354
<br />4,806
<br />2,797
<br />2,905
<br />2029
<br />15,373
<br />4,463
<br />4,806
<br />2,867
<br />2,905
<br />2030
<br />14,989
<br />4,574
<br />4,806
<br />2,939
<br />2,905
<br />2031
<br />15,169
<br />4,689
<br />4,806
<br />3,013
<br />2,905
<br />2032
<br />15,902
<br />4,806
<br />4,806
<br />3,088
<br />2,905
<br />2033
<br />16,620
<br />4,926
<br />4,806
<br />3,165
<br />2,905
<br />2034
<br />15,600
<br />5,049
<br />4,806
<br />3,244
<br />2,905
<br />2035
<br />16,001
<br />55175
<br />4,806
<br />3,325
<br />2,905
<br />2036
<br />16,495
<br />5,605
<br />4,806
<br />3,408
<br />2,905
<br />2037
<br />16,657
<br />5,437
<br />4,806
<br />4,494
<br />2,905
<br />Total
<br />279,501
<br />48,777
<br />48,061
<br />41,864
<br />40,668
<br />NPV (2018$)
<br />134,265
<br />15,847
<br />15,847
<br />15,847
<br />15,847
<br />Source: FPL's Response to Our Second Data Request
<br />3Document No. 00228-2018, filed January 10, 2018, in Docket No. 20170226 -EQ.
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