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Resolution E-4164

Pacific Gas & Electric Company (PG&E) requests approval of a short-term renewable contract with an existing geothermal facility . Resolution E-4164. April 24, 2008. Resolution E-4164. Resolution E-4164. Bilateral contract contributes significantly to PG&E’s RPS target

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Resolution E-4164

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  1. Pacific Gas & Electric Company (PG&E) requests approval of a short-term renewable contract with an existing geothermal facility Resolution E-4164 April 24, 2008

  2. Resolution E-4164

  3. Resolution E-4164 • Bilateral contract contributes significantly to PG&E’s RPS target • Restructuring agreement preserves 118 MW of existing QF capacity already in PG&E portfolio • Contract provides for 57 MW of incremental existing generation • Total deliveries represent 2% of “20% by 2010” RPS target • All-in contract price (QF + incremental) is above 2007 MPR • Energy Division calculated a 7-year MPR using the 2007 MPR model - $93.18 MWh • PG&E will pay the Geysers an all-in price comprised of energy, green attributes (GA) and local resource adequacy (local RA) for deliveries from the 57 MW of additional (existing) generation and deliveries which result from extending the expiration date of the QF contracts.

  4. Resolution E-4164 • Pursuant to SB 1036, above-MPR component of contract price can be approved outside of RPS cost cap contract because it is a bilateral contract • Relative to long-term contracts (> 10 yrs) for new geothermal resources, the short-term geysers contract is more expensive • Contract conveys several significant benefits to PG&E’s ratepayers • RPS-eligible baseload generation that is online • Will contribute significantly to PG&E’s 20% by 2010 RPS target • If the contract was to bid into the 2008 solicitation, the contract would likely be more expensive • Approval of this contract does not prejudge the Commission’s pending decision on bilateral reasonableness criteria or the implementation of SB 1036

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