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Friday, August 08, 2014 1:51:09 PM
As far as this latest news about Drax losing their subsidy appeal, I guess there's a couple of things that I tend to read between the lines. The first one being that this more lucrative subsidy will eventually go into effect, but what was being appealed was an "early release" of the subsidy for projects that would be held up waiting for red tape to be cut. My take on it is that Drax failed to demonstrate their projects would be held up and things will continue to move forward for a time when the formal subsidy is put into effect. To me this isn't a deal killer, but another potential delay.
On the other hand, the Drax argument was that the "early release" wasn't going to delay their projects, but would impact their ability to secure fiber. Presuming there is a takeoff agreement with BMSPF and it is actually BMSPF that is securing the fiber, one could argue that this directly impacts BMSPF. Deal killer, delay, or none of the above? Dunno.
Anyway, lots of assumptions and dots being connected (or misconnected). I think it will boil down to what happens later this month to see if things proceed as planned at the Port of Natchitoches. If leases are approved and signed. That would be a good sign.
Phillip
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