Finance Committee - 12/16/2020 Page 5
Director Marchant
The Mine Falls Project has ...
Alderman Klee
Has the potential for 5.
Ms. Chisolm
That’s a three megawatt project.
Alderman Klee
3 megawatts OK. And we do use the power of this, correct? The megawatts power falls within the State’s
guidelines of allowing us to, without having to do any extra Legislation?
Ms. Chisolm
We sell the power. We sell the power from both of those projects.
Alderman Klee
OK.
Director Marchant
To answer your question Alderman, yes, this project is net metered and so the profit from this project is
significantly higher. So for example, we sell this energy | don’t the rate — we sell this energy closer to 8 or 9
cents; whereas the Mine Falls Dam, because it is over the 1 megawatt limit, that is in a long-term contract
where we sell the power for about .4 7% cents. So we get almost double for the same power produced out of
Jackson, even though it produces significantly less power.
Alderman Klee
Thank you. So this is important, | mean, right at this point we are probably still paying for more than what
revenue is coming in but in potential lifetime this is extremely important as far as revenue and so on, is it not,
correct?
Director Marchant
Yes that is absolutely true, yes.
Alderman Klee
Good. Thank you so much | appreciate it.
Mayor Donchess
Anyone else.
Alderwoman Lu
Mayor, hi, it’s Elizabeth Lu.
