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You missed my point. The information was somewhat bogus. The company has not yet suceeded on any project. However, that will likely change (and soon) with the Berlin plant. By the way, I've had some experts tell me that the plant will likely pay property taxes in the 500K to 750K range. Your 1.5M quote has not been confirmed and may not be accurate.
Exactly how many idled paper mills has Laidlaw converted into biomass plants? Not even Berlin is on line yet. I guess that means the number is zero (at least for now).
There is peak need but it doesn't happen very often. All I'm saying is that the Ellicottville project is DOA. I don't think anybody here would dispute that fact.
If natural gas fired plants are guaranteed to make money then why isn't the Ellicottville plant running? I respectfully disagree. Again, that is why the gas fired (peak) plant in Newington only runs when absolutely necessary.
It is my understanding that using natural gas to generate electricity is very expensive because of the cost of the fuel. My friend works at Schiller Station and they (PSNH) have a "peak" plant down the road (in Newington) that can generate electricity via natural gas or oil (depending upon which is cheaper) but they only run that plant when absolutely necessary (during peak electricity demand) because it is very expensive to run. I suspect that is why the Ellicoteville plant will remain sitting idle for the foreseeable future. That project is DOA.
Not gonna happen bro. This is a very unique PPA that goes well beyond anything PSNH has ever done before. PUC needs to make sure that this deal is in the ratepayer's best interest. Besides, what is 45 days amongst friends?
The PUC has a responsibility to the rate payer. Even if they know how they are going to rule they have to do their due diligence and at least give the interventors a chance to make their case. In the end, the PPA will be approved.
Everyone knows it will be approved. It is just a matter of "when" it will be approved.
I believe the PUC is scheduled to rule before the end of the year.
The transaction has likely not yet taken place. Barty already said that Laidlaw will stay involved until the EFSEC permit is approved (already done), the PPA is approved (in progress) and after the final construction financing is arranged (probably cannot happen until the other items are completed). My educated guess is that the sale will take place in the first quarter of next year.
This is old news. Laidlaw's NY project is dead. The NY Supreme Court just affirmed the Superior Court's decision against Laidlaw. That plant will be in mothballs forever it would seem. The only viable project in the pipeline is Berlin and eventually Laidlaw is selling its equity interest in the Berlin plant to NewCo. Supposedly the sale to NewCo will occur after the PPA is approved and final construction financing is arranges.
You are already doing that by being invested in LLEG.
LOL! I'm a Pats fan and I picked against them last night in my football pool. DUH!
Okay, thanks for clarifying. It will be interesting to see the details when the sale is completed. That is, of course, if the details are ultimately provided to the public.
Last nail in the coffin for that case it would seem. The Superior Court descision was affirmed by the Supreme Court (and I believe the Superior Court ruled against Laidlaw). Nice find.
I'm not calling Matt a liar. If he is correct and NewCo pays Laidlaw $200M for the Berlin plant that will be huge for the PPS. I'm just not sure the deal is that lucrative. That would mean that the sale price to NewCo is more than the construction costs. I'm just not convinced it makes sense but congrats to the longs if that is the case. You would see a huge pay day.
If you are correct, that would be huge. A sale of that magnitude would drive the PPS to pennies in no time. Do you really believe that is possible?
Bartoszek has already said that the sale is conditional upon approval of the PPA as well as upon securing the construction financing. In other words, two more steps before sale to NewCo;
1.) PPA approval
2.) Obtaining the balance of the project financing
I suspect step 1 will be completed in January with step 2 following shortly thereafter. You'll probably see the sale in February or March of next year (IMO). Do you still think the sale will be in the $30 to $50 million range? That seems awfully high to me but as King likes to point out I've been wrong at least 90% of the time.
Okay brother, we'll have to agree to disagree. I know for a fact that developers were interested in the sight but that they basically said not while there is a boiler and stack there.
Dude, it is simple. Location, location, location. Along the river with great views of the Presidentials. Tear it down and they (i.e. the developers) will come.
Dude, your obsession with this WN blogger is a little weird.
Dude, that is so easy. Here is a much better plan;
1.) Tear down the existing stack & boiler and have mixed use development (instead of heavy industry) in downtown Berlin.
2.) Support the construction of the CP plant located on the outskirts of town (same biomass jobs with a much better location)
Great plan, don't you think?
I don't know how that applies concerns about net job loss due to the proposed PPA. By the way, all of the paper mills have already closed. Your point was lost on me but I'm just a simple guy from Northern, NH.
Read the NHPR transcript. Nothing will happen until the end of December at the earliest.
I hope the PUC takes the time to make sure that this is ultimately the right thing for the region and the electric rate payers.
That is assuming there won't be a net loss of jobs due to the terms of the PPA. I'm glad the PUC is at least taking this into consideration. For some reason the EFSEC didn't address this issue.
I agree that he has no reason to be concerned. The PUC will approve the PPA. They are just going through the motions. They will ultimately do what PSNH (and the political operatives of PSNH) tell them to do.
Here is the link for the NHPR interview;
http://www.nhpr.org/opponents-will-have-say-planned-biomass-plant-berlin
I'm not predicting anything but providing that information. By the way, I fully expect the PUC to approve the PPA despite the concerns of the interveners. Generally the PUC serves its master (i.e. PSNH).
By the way, I want to caution you that I did not come up with the $50M figure. This was the estimate of others on this board. I have no idea how much NewCo paid to purchase LBB. Please do you own DD.
I don't know if you were being sarcastic but if not then thanks for the compliment. Although I am typically insulted here, I stll enjoy giving people on this board some information from a "local" perspective.
Barty is my personal nickname for Bartoszek. I used to call him "Barty the clown" but people here got real mad when I did that.
All interventions have been granted (FYI). See link below;
http://www.puc.nh.gov/Regulatory/CaseFile%5C2010%5C10-195%5CTRANSCRIPTS-OFFICIAL%20EXHIBITS-CLERKS%20REPORT%5C10-195%202010-09-29%20Clerk%27s%20Report-afternoon%20session.pdf
This is not a prediction. In sworn testimony Barty said that Laidlaw is selling 100% of LBB to NewCo. Thus, when the sale is complete Laidlaw is out of the picture. And, according to Doctor Bench's estimates, the equity sale will result in over $50M for Laidlaw. Nice pay day for LLEG.pk stockholders if he's accurate in his assessment.
So which is it? More than $50M or less than $50M?
I meant LLEG, not Barty personally. So you think LLEG stands to be paid over $50,000,000 by NewCo. Wow! That would be impressive.
Care to venture a guess at what Barty will get paid?
Okay, so based upon your figures how much do you think NewCo plans to pay Laidlaw for the equity interest? So far I've seen numbers like $50,000,000. Do you agree?
First, Laidlaw's equity share (being sold to NewCo) is not going to be $170,000 even if that is the value of the plant after construction is completed. Second, you shouldn't be counting future revenues from the sale of electricity. That revenue is NewCo's, not Laidlaws.