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Cost 'x ecovery Scenarios (cont'd) it <br /> Scenario E : Project cancelled in 2016 (cont'd) <br /> ERMU Project Cost (for 30 Megawatt share) = $ 123 M , <br /> less 16% ( $ 20 M ) for transmission = $ 103 M <br /> Debt payments starting at in -service date : . <br /> • $ 103 million, 30 years recovery at 5. 5%/year interest rate = <br /> $585,000/month <br /> ERMU customers pay for Big Stone II plant debt <br /> service starting at in -service date in 2016 <br /> • ($585,000 per month )/(28,060 MWh per month of ERMU retail <br /> sales2) = $21/MWh, or 2 . 1 cents/kWh on ERMU retail sales in <br /> 2016 . <br /> ■ If ERMU retail rate in 2016 is 14 cents/kWh', this would be a <br /> rate increase of about 15% . <br /> 1 . From RW Beck study, Chart 16. Study shows production costs (wholesale rate) <br /> will increase about 4 cents/kWh in 2016 compared to current rates. Current retail rate <br /> is about 10 cents/kWh. 14 <br /> 2. From RW Beck study Chart 27: ERMU monthly retail sales in 2016 after CIP impacts <br /> I <br />