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Background: <br /> BSPII Project Costs for Early 2016 In-service <br /> Development Cost (30 Megawatt Share) : <br /> • One-time true-up payment (up through 8/31/09) : $ 2 . 6 M1 <br /> • Ongoing development costs $51k/month <br /> Starts 9/1/09 and runs to financial close <br /> Financial close scheduled for Fall 2010. <br /> Project Cost (30 Megawatt share) : <br /> • Construction Cost : $ 100 M2 <br /> • Interest During Construction (IDC) : 23 M3 <br /> • Total Project Cost : $ 123 M <br /> 1 . Estimated true up payment due 11/1/09, based on estimate of project costs through 8/31/09. <br /> Development cost true-up to be adjusted in subsequent months to reflect actual costs. <br /> 2. Cost shown in nominal dollars, and includes both plant and associated transmission and includes <br /> all development costs. Transmission represents about 16% of total project costs. Previous <br /> discussion amount of $90 million was order-of-magnitude figure using $3,000/kW, based on <br /> $3,220/kW project cost estimate for 2014/2015 in-service provided ERMU on April 15, 2009. 3 <br /> 3. IDC to be included in bonding, so ERMU customers do not pay until plant in-service. <br />