ERG was retained by a Joint Action Agency (JAA) to prepare its Annual Engineering Report on its power project revenue bonds. The report covered the financial and operational performance of a 523 MW-rated coal-fired conventional steam turbine generating unit. ERG’s Report to the Bond Trustee involved:
- Evaluating and reporting on the JAA’s and the Project’s Business Organization and Management;
- Verifying that the JAA and the Project are in compliance with the requirements related to their bond covenants; and
- Evaluating and reporting on the Project’s property and operations.
On behalf of a regulatory agency, members of the Firm served as economic, regulatory, accounting, and technical advisors in a regulated utility’s $99 million principal-amount securitization bond issuance. Members of the Firm provided professional services in:
- The determination of which costs were appropriately recoverable through securitization;
- The establishment of a storm reserve escrow funded through securitization funds;
- The determination as to whether securitization would provide ratepayer savings and was in the public interest;
- Settlement negotiations;
- The regulator’s authorization of the securitization bonds’ issuance;
- The marketing, pricing, and issuance of the securitization bonds; and
- The establishment of new bill riders to provide for the debt service of the securitization bonds.
Initiated by the Council of the City of New Orleans (Council) as a program to promote energy efficiency measures, the Energy Smart program was designed to provide rebates for home and business weatherization and heating/cooling system upgrades. Members of the Firm were instrumental in the evaluation, examination, development, and recommendations of alternative funding sources for this program, and played a key role in negotiating the program’s final design in support of the Council with Entergy New Orleans who will be responsible for administration of the Energy Smart Program.
For Seattle City Light (SCL), a member of ERG's staff provided technical assistance concerning the development of project and power sales agreements concerning SCL’s joint venture development of the Lucky Peak Hydroelectric Project with the Boise-Kuna Irrigation District (Idaho). Additionally, ERG acted as Independent Consultant regarding the City of Seattle’s issuance of $247.2 million of revenue bonds in support of the project development and provided assistance in negotiating transmission agreements concerning delivery of project power to SCL via the transmission systems of the Idaho Power Company, Pacific Power & Light Company and the Western Area Power Administration.
ERG was retained by the Louisiana Energy & Power Authority (LEPA) as its Independent Consulting Engineer for preparation of a Consulting Engineer’s Report for inclusion in the Official Statement regarding LEPA’s issuance of revenue bonds totaling $120,770,000 to fund LEPA’s development, procurement of major equipment, and construction of LEPA Unit No. 1, a 64 MW nominal rated 1X1 natural gas fueled combined cycle gas turbine generating facility sited in Morgan City, Louisiana. In conjunction with the engagement, ERG participated in bond rating agency presentations concerning the project and LEPA’s proposed plan of finance.
ERG was retained by the Louisiana Energy & Power Authority (LEPA) as its Independent Consulting Engineer for preparation of a Consulting Engineer’s Report for inclusion in the Official Statement regarding LEPA’s issuance of revenue bonds totaling $28,590,000 to fund LEPA’s portion of the capital costs related to the installation of a dry sorbent inject system, activated carbon injection system, and fabric filtration system needed for the 523 MW coal-fired Rodemacher Unit No. 2 power plant to achieve compliance with the Environmental Protection Agency’s Mercury Air Toxics Standards for control of mercury, SO2 , hydrochloric acid, and particulate matter power plant emissions. In conjunction with the engagement, ERG participated in bond rating agency presentations concerning the project and LEPA’s proposed plan of finance.