Special Bd. of Aldermen — 06/24/2019 Page 4
Alderman Laws
| was just wondering if the revenue generated from the Jackson is going to be included in the TIF for that area.
Ms. Marchant
That’s a great question, no. The revenue from that does not go to the TIF at this time.
Alderwoman Kelly
| just wanted to know if historically we Know what these would be at once they are at capacity because | know
both of them have been down for a while in terms of revenue generation.
Ms. Marchant
That’s a great question. So we look back at a 10 year average even though we didn’t own them, we have
pulled the FERC records to see what they have generated over a 10 year average. This past year has been
an incredible amount of water, incredibly high revenue which is a good thing in many ways, but it isn’t
necessarily an average. So we do believe that in an average flow year, that these would net a little under $1
million dollars, closer to $800,000.00, the two together.
Alderman Caron
My question is that money that we get from Mine Falls is that going to go pay off the bond?
Ms. Marchant
It goes to the General Fund but it certainly would off-set the bond costs.
Alderman Caron
Thank you.
Vice President O’Brien
And this may be a good segway, I'll let Alderman Klee make the decision, but currently the State is looking at
net metering which could affect this potential dam. I'll allow you a brief summation as to what is happening
right now.
Alderman Klee
It is being held off until this fall, it was vetoed by the Governor, as far as net metering was concerned to allow
greater than 1 up to 5 megawatts. | guess | would ask my question, are we exempt from the current net
metering of 1 megawatts?
Ms. Marchant
It's a great question. So at Jackson Falls we currently net meter. We get just under 10 cents a kilowatt hour,
right so 9.7 cents something like that . At Mine Falls we are not allowed to net meter. When we bought Mine
Falls it came with a longer term power purchase agreement that will expire in 2023, with our license as well
that we could net meter and we could make again almost twice, we were about 5.6 cents right now per kilowatt
hour at Mine Falls. So we could almost double our revenue at Mine Falls if we could net meter, which we can’t
do yet. But hopefully we are on our way there and it would make a very substantial difference in the amount of
revenue that we would be earning.
