Attached files
file | filename |
---|---|
8-K - 8-K - EME HOMER CITY GENERATION LP | a12-9227_18k.htm |
EX-99.3 - EX-99.3 - EME HOMER CITY GENERATION LP | a12-9227_1ex99d3.htm |
EX-99.1 - EX-99.1 - EME HOMER CITY GENERATION LP | a12-9227_1ex99d1.htm |
Exhibit 99.2
DISCLAIMERS |
|
PRELIMINARY DRAFT SUBJECT TO FRE 408 | |
The forecast is based on various assumptions, many of which are subject to changing market conditions. |
|
| |
EMEHC continues to explore ways to address its near term liquidity needs. |
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| |
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| |
Case: |
Projections as of 3/9/12 - Spring Outage Scenario |
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|
($ millions) |
|
Feb 2012 |
|
Mar 2012 |
|
Apr 2012 |
|
May 2012 |
|
Jun 2012 |
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Jul 2012 |
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Aug 2012 |
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Sep 2012 |
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Oct 2012 |
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Nov 2012 |
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Dec 2012 |
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Operating Statistics |
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Generation (GWh) |
|
855 |
|
873 |
|
776 |
|
442 |
|
741 |
|
943 |
|
946 |
|
757 |
|
792 |
|
779 |
|
869 |
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Realized Market Price ($/MWh) |
|
$ |
29.98 |
|
$ |
28.71 |
|
$ |
28.59 |
|
$ |
31.15 |
|
$ |
34.22 |
|
$ |
37.47 |
|
$ |
36.70 |
|
$ |
32.84 |
|
$ |
31.63 |
|
$ |
31.85 |
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$ |
34.86 |
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Revenue |
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Prior Month Revenue True-up |
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$ |
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$ |
(1.7 |
) |
$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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MTD Realized Energy |
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$ |
26.3 |
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$ |
3.3 |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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MTD Realized Transmission Revenue |
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$ |
0.2 |
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$ |
0.1 |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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BOM Forecasted Energy |
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$ |
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$ |
21.8 |
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$ |
21.9 |
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$ |
13.7 |
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$ |
25.2 |
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$ |
35.3 |
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$ |
34.6 |
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$ |
24.7 |
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$ |
25.0 |
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$ |
24.7 |
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$ |
30.1 |
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BOM Forecasted Trans Revenue |
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$ |
|
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$ |
0.2 |
|
$ |
0.8 |
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$ |
0.5 |
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$ |
0.5 |
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$ |
1.2 |
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$ |
1.2 |
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$ |
1.2 |
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$ |
0.5 |
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$ |
0.5 |
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$ |
0.5 |
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Current Month Revenue Repayment |
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$ |
(53.4 |
) |
$ |
(38.2 |
) |
$ |
(28.5 |
) |
$ |
(20.2 |
) |
$ |
(32.2 |
) |
$ |
(43.2 |
) |
$ |
(42.5 |
) |
$ |
(32.4 |
) |
$ |
(32.2 |
) |
$ |
(31.7 |
) |
$ |
(37.3 |
) |
Prompt Month Revenue Prepayment |
|
$ |
38.2 |
|
$ |
28.5 |
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$ |
20.2 |
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$ |
32.2 |
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$ |
43.2 |
|
$ |
42.5 |
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$ |
32.4 |
|
$ |
32.2 |
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$ |
31.7 |
|
$ |
37.3 |
|
$ |
45.2 |
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Current Month Capacity Revenue |
|
$ |
5.6 |
|
$ |
6.0 |
|
$ |
5.8 |
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$ |
6.0 |
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$ |
6.5 |
|
$ |
6.7 |
|
$ |
6.7 |
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$ |
6.5 |
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$ |
6.7 |
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$ |
6.5 |
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$ |
6.7 |
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Total Net Revenue (1) |
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$ |
16.8 |
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$ |
19.9 |
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$ |
20.2 |
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$ |
32.2 |
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$ |
43.2 |
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$ |
42.5 |
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$ |
32.4 |
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$ |
32.2 |
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$ |
31.7 |
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$ |
37.3 |
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$ |
45.2 |
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Revenue Account |
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Ending Balance from Prior Month (2) |
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$ |
0.3 |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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Plus: Transfer of Total Net Revenue (3) |
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$ |
19.9 |
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$ |
20.2 |
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$ |
32.2 |
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$ |
43.2 |
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$ |
42.5 |
|
$ |
32.4 |
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$ |
32.2 |
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$ |
31.7 |
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$ |
37.3 |
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$ |
45.2 |
| |
Plus: Transfer of Excess Available from Equity Account (4) |
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$ |
19.0 |
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$ |
0.7 |
|
$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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Cash Available to Fund Operating Account |
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$ |
39.3 |
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$ |
20.9 |
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$ |
32.2 |
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$ |
43.2 |
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$ |
42.5 |
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$ |
32.4 |
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$ |
32.2 |
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$ |
31.7 |
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$ |
37.3 |
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$ |
45.2 |
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Less: Transfer to Operating Account |
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|
$ |
(30.0 |
) |
$ |
(20.9 |
) |
$ |
(32.2 |
) |
$ |
(43.2 |
) |
$ |
(42.5 |
) |
$ |
(32.4 |
) |
$ |
(32.2 |
) |
$ |
(31.7 |
) |
$ |
(37.3 |
) |
$ |
(37.8 |
) | |
Cash Available to Fund Senior Rent Reserve Requirement |
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|
$ |
9.2 |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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|
$ |
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$ |
7.4 |
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Less: Transfer to Senior Rent Payment Account |
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|
$ |
(8.5 |
) |
$ |
|
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$ |
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$ |
|
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$ |
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$ |
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$ |
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$ |
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|
$ |
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$ |
(7.4 |
) | |
Cash Available to Fund Equity Rent Account |
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$ |
0.7 |
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$ |
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$ |
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$ |
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$ |
|
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$ |
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$ |
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|
$ |
|
|
$ |
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|
$ |
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Less: Transfer to Equity Account |
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|
$ |
(0.7 |
) |
$ |
|
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$ |
|
|
$ |
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|
$ |
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$ |
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|
$ |
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|
$ |
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|
$ |
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|
$ |
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Ending Balance for Current Month |
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|
$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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|
$ |
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$ |
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| |
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Operating Account |
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Ending Balance from Prior Month (2) |
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|
$ |
28.2 |
|
$ |
31.1 |
|
$ |
20.9 |
|
$ |
9.1 |
|
$ |
17.3 |
|
$ |
27.7 |
|
$ |
24.5 |
|
$ |
15.7 |
|
$ |
16.5 |
|
$ |
21.0 |
| |
Less: Paid Expenses |
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|
$ |
(5.0 |
) |
$ |
|
|
$ |
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|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
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| |
Less: Invoiced/Yet to be Paid Expenses |
|
|
|
$ |
(4.9 |
) |
$ |
(4.1 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Less: Forecasted Coal Expenses |
|
|
|
$ |
(11.3 |
) |
$ |
(4.7 |
) |
$ |
(18.0 |
) |
$ |
(16.8 |
) |
$ |
(18.8 |
) |
$ |
(23.5 |
) |
$ |
(21.5 |
) |
$ |
(18.6 |
) |
$ |
(20.1 |
) |
$ |
(21.2 |
) | |
Less: Forecasted Planned Overhaul & CapEx |
|
|
|
$ |
(3.6 |
) |
$ |
(11.1 |
) |
$ |
(16.4 |
) |
$ |
(10.2 |
) |
$ |
(5.2 |
) |
$ |
(3.7 |
) |
$ |
(4.8 |
) |
$ |
(4.7 |
) |
$ |
(3.9 |
) |
$ |
(2.4 |
) | |
Less: Forecasted Other O&M Expenses & Lag |
|
|
|
$ |
(2.3 |
) |
$ |
(11.2 |
) |
$ |
(9.6 |
) |
$ |
(8.0 |
) |
$ |
(8.1 |
) |
$ |
(8.4 |
) |
$ |
(14.6 |
) |
$ |
(7.5 |
) |
$ |
(8.8 |
) |
$ |
(7.7 |
) | |
Balance Before End-of-Month Transfer |
|
|
|
$ |
1.0 |
|
$ |
|
|
$ |
(23.1 |
) |
$ |
(25.9 |
) |
$ |
(14.8 |
) |
$ |
(7.9 |
) |
$ |
(16.4 |
) |
$ |
(15.1 |
) |
$ |
(16.3 |
) |
$ |
(10.2 |
) | |
Plus: Transfer from Revenue Account |
|
|
|
$ |
30.0 |
|
$ |
20.9 |
|
$ |
32.2 |
|
$ |
43.2 |
|
$ |
42.5 |
|
$ |
32.4 |
|
$ |
32.2 |
|
$ |
31.7 |
|
$ |
37.3 |
|
$ |
37.8 |
| |
Ending Balance for Current Month |
|
|
|
$ |
31.1 |
|
$ |
20.9 |
|
$ |
9.1 |
|
$ |
17.3 |
|
$ |
27.7 |
|
$ |
24.5 |
|
$ |
15.7 |
|
$ |
16.5 |
|
$ |
21.0 |
|
$ |
27.6 |
| |
|
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Senior Rent Payment Account |
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Ending Balance from Prior Month (2) |
|
|
|
$ |
39.9 |
|
$ |
48.4 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
(47.7 |
) |
$ |
(47.7 |
) | |
Less: Senior Rent Payment |
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|
|
$ |
|
|
$ |
(48.4 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
(47.7 |
) |
$ |
|
|
$ |
|
| |
Plus: Transfer from Revenue Account |
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|
$ |
8.5 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
7.4 |
| |
Ending Balance for Current Month |
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|
$ |
48.4 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
(47.7 |
) |
$ |
(47.7 |
) |
$ |
(40.3 |
) | |
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Equity Account |
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Ending Balance from Prior Month (2) |
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|
|
$ |
19.0 |
|
$ |
0.7 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Less: Transfer to Revenue Account |
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|
|
$ |
(19.0 |
) |
$ |
(0.7 |
) |
$ |
|
|
$ |
|
|
$ |
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|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Balance Before End-of-Month Transfer |
|
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Plus: Transfer from Revenue Account |
|
|
|
$ |
0.7 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Ending Balance for Current Month |
|
|
|
$ |
0.7 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
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| |
|
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| |||||||||||
Total Funding Shortfall (5) |
|
|
|
$ |
|
|
$ |
|
|
$ |
(23.1 |
) |
$ |
(25.9 |
) |
$ |
(14.8 |
) |
$ |
(7.9 |
) |
$ |
(16.4 |
) |
$ |
(62.9 |
) |
$ |
(64.0 |
) |
$ |
(50.5 |
) | |
|
|
|
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| |||||||||||
Senior Rent Schedule |
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| |||||||||||
Senior Rent Payment |
|
|
|
$ |
|
|
$ |
48.4 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
47.7 |
|
$ |
|
|
$ |
|
| |
Senior Rent Reserve Requirement |
|
|
|
$ |
8.0 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.0 |
|
$ |
7.0 |
|
$ |
7.0 |
| |
Senior Rent Fees and Expenses |
|
|
|
$ |
0.5 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
0.7 |
|
$ |
|
|
$ |
|
|
$ |
|
| |
Target End-of-Month Senior Rent Reserve Balance |
|
|
|
$ |
47.9 |
|
$ |
7.8 |
|
$ |
15.7 |
|
$ |
23.5 |
|
$ |
31.4 |
|
$ |
39.2 |
|
$ |
47.0 |
|
$ |
7.0 |
|
$ |
14.1 |
|
$ |
21.1 |
|
Notes:
|
(1) |
All netting of revenues takes place at EMMT before Total Net Revenue is transferred to the Revenue Account. |
|
(2) |
Starting cash balance as of 3/1/2012. |
|
(3) |
Assumes continued prepayment of revenues by EMMT. |
|
(4) |
Amounts available in Equity Account can be used to fund Revenue Account. |
|
(5) |
Sum of Operating Account Shortfall (Balance Before End-of-Month Transfer from Revenue Account), if any, and Senior Rent Payment Account shortfall, if any. |
DISCLAIMERS |
PRELIMINARY DRAFT SUBJECT TO FRE 408 |
The forecast is based on various assumptions, many of which are subject to changing market conditions.
EMEHC continues to explore ways to address its near term liquidity needs.
Case: Projections as of 3/9/12 - Fall Outage Scenario
($ millions) |
|
Feb 2012 |
|
Mar 2012 |
|
Apr 2012 |
|
May 2012 |
|
Jun 2012 |
|
Jul 2012 |
|
Aug 2012 |
|
Sep 2012 |
|
Oct 2012 |
|
Nov 2012 |
|
Dec 2012 |
| |||||||||||
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| |||||||||||
Operating Statistics |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Generation (GWh) |
|
855 |
|
873 |
|
1,041 |
|
575 |
|
723 |
|
922 |
|
925 |
|
740 |
|
575 |
|
567 |
|
869 |
| |||||||||||
Realized Market Price ($/MWh) |
|
$ |
29.98 |
|
$ |
28.71 |
|
$ |
28.58 |
|
$ |
31.17 |
|
$ |
34.23 |
|
$ |
37.48 |
|
$ |
36.70 |
|
$ |
32.85 |
|
$ |
31.76 |
|
$ |
32.00 |
|
$ |
34.86 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Prior Month Revenue True-up |
|
$ |
|
|
$ |
(1.7 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
MTD Realized Energy |
|
$ |
26.3 |
|
$ |
3.3 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
MTD Realized Transmission Revenue |
|
$ |
0.2 |
|
$ |
0.1 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
BOM Forecasted Energy |
|
$ |
|
|
$ |
21.8 |
|
$ |
29.7 |
|
$ |
17.9 |
|
$ |
24.6 |
|
$ |
34.5 |
|
$ |
33.9 |
|
$ |
24.2 |
|
$ |
18.2 |
|
$ |
18.1 |
|
$ |
30.1 |
|
BOM Forecasted Trans Revenue |
|
$ |
|
|
$ |
0.2 |
|
$ |
0.8 |
|
$ |
0.5 |
|
$ |
0.5 |
|
$ |
1.2 |
|
$ |
1.2 |
|
$ |
1.2 |
|
$ |
0.5 |
|
$ |
0.5 |
|
$ |
0.5 |
|
Current Month Revenue Repayment |
|
$ |
(53.4 |
) |
$ |
(38.2 |
) |
$ |
(36.3 |
) |
$ |
(24.4 |
) |
$ |
(31.6 |
) |
$ |
(42.4 |
) |
$ |
(41.8 |
) |
$ |
(31.9 |
) |
$ |
(25.4 |
) |
$ |
(25.0 |
) |
$ |
(37.3 |
) |
Prompt Month Revenue Prepayment |
|
$ |
38.2 |
|
$ |
36.3 |
|
$ |
24.4 |
|
$ |
31.6 |
|
$ |
42.4 |
|
$ |
41.8 |
|
$ |
31.9 |
|
$ |
25.4 |
|
$ |
25.0 |
|
$ |
37.3 |
|
$ |
45.2 |
|
Current Month Capacity Revenue |
|
$ |
5.6 |
|
$ |
6.0 |
|
$ |
5.8 |
|
$ |
6.0 |
|
$ |
6.5 |
|
$ |
6.7 |
|
$ |
6.7 |
|
$ |
6.5 |
|
$ |
6.7 |
|
$ |
6.5 |
|
$ |
6.7 |
|
Total Net Revenue (1) |
|
$ |
16.8 |
|
$ |
27.8 |
|
$ |
24.4 |
|
$ |
31.6 |
|
$ |
42.4 |
|
$ |
41.8 |
|
$ |
31.9 |
|
$ |
25.4 |
|
$ |
25.0 |
|
$ |
37.3 |
|
$ |
45.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Revenue Account |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Ending Balance from Prior Month (2) |
|
|
|
$ |
0.3 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Plus: Transfer of Total Net Revenue (3) |
|
|
|
$ |
27.8 |
|
$ |
24.4 |
|
$ |
31.6 |
|
$ |
42.4 |
|
$ |
41.8 |
|
$ |
31.9 |
|
$ |
25.4 |
|
$ |
25.0 |
|
$ |
37.3 |
|
$ |
45.2 |
| |
Plus: Transfer of Excess Available from Equity Account (4) |
|
|
|
$ |
19.0 |
|
$ |
16.6 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Cash Available to Fund Operating Account |
|
|
|
$ |
47.1 |
|
$ |
41.0 |
|
$ |
31.6 |
|
$ |
42.4 |
|
$ |
41.8 |
|
$ |
31.9 |
|
$ |
25.4 |
|
$ |
25.0 |
|
$ |
37.3 |
|
$ |
45.2 |
| |
Less: Transfer to Operating Account |
|
|
|
$ |
(21.9 |
) |
$ |
(37.5 |
) |
$ |
(30.9 |
) |
$ |
(33.7 |
) |
$ |
(35.1 |
) |
$ |
(31.9 |
) |
$ |
(25.4 |
) |
$ |
(25.0 |
) |
$ |
(37.3 |
) |
$ |
(45.2 |
) | |
Cash Available to Fund Senior Rent Reserve Requirement |
|
|
|
$ |
25.2 |
|
$ |
3.5 |
|
$ |
0.7 |
|
$ |
8.7 |
|
$ |
6.7 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Less: Transfer to Senior Rent Payment Account |
|
|
|
$ |
(8.5 |
) |
$ |
(3.5 |
) |
$ |
(0.7 |
) |
$ |
(8.7 |
) |
$ |
(6.7 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Cash Available to Fund Equity Rent Account |
|
|
|
$ |
16.6 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Less: Transfer to Equity Account |
|
|
|
$ |
(16.6 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Ending Balance for Current Month |
|
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Operating Account |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Ending Balance from Prior Month (2) |
|
|
|
$ |
28.2 |
|
$ |
23.0 |
|
$ |
37.5 |
|
$ |
30.9 |
|
$ |
33.7 |
|
$ |
35.1 |
|
$ |
31.9 |
|
$ |
13.8 |
|
$ |
(4.4 |
) |
$ |
(6.0 |
) | |
Less: Paid Expenses |
|
|
|
$ |
(5.0 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Less: Invoiced/Yet to be Paid Expenses |
|
|
|
$ |
(4.9 |
) |
$ |
(4.1 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Less: Forecasted Coal Expenses |
|
|
|
$ |
(11.3 |
) |
$ |
(5.6 |
) |
$ |
(23.3 |
) |
$ |
(16.8 |
) |
$ |
(21.5 |
) |
$ |
(23.0 |
) |
$ |
(21.0 |
) |
$ |
(17.9 |
) |
$ |
(15.3 |
) |
$ |
(16.1 |
) | |
Less: Forecasted Planned Overhaul & CapEx |
|
|
|
$ |
(3.6 |
) |
$ |
(2.1 |
) |
$ |
(4.4 |
) |
$ |
(6.3 |
) |
$ |
(4.1 |
) |
$ |
(3.7 |
) |
$ |
(7.6 |
) |
$ |
(17.9 |
) |
$ |
(15.0 |
) |
$ |
(3.7 |
) | |
Less: Forecasted Other O&M Expenses & Lag |
|
|
|
$ |
(2.3 |
) |
$ |
(11.2 |
) |
$ |
(9.8 |
) |
$ |
(7.8 |
) |
$ |
(8.1 |
) |
$ |
(8.4 |
) |
$ |
(14.7 |
) |
$ |
(7.5 |
) |
$ |
(8.6 |
) |
$ |
(7.7 |
) | |
Balance Before End-of-Month Transfer |
|
|
|
$ |
1.0 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
(11.5 |
) |
$ |
(29.4 |
) |
$ |
(43.3 |
) |
$ |
(33.4 |
) | |
Plus: Transfer from Revenue Account |
|
|
|
$ |
21.9 |
|
$ |
37.5 |
|
$ |
30.9 |
|
$ |
33.7 |
|
$ |
35.1 |
|
$ |
31.9 |
|
$ |
25.4 |
|
$ |
25.0 |
|
$ |
37.3 |
|
$ |
45.2 |
| |
Ending Balance for Current Month |
|
|
|
$ |
23.0 |
|
$ |
37.5 |
|
$ |
30.9 |
|
$ |
33.7 |
|
$ |
35.1 |
|
$ |
31.9 |
|
$ |
13.8 |
|
$ |
(4.4 |
) |
$ |
(6.0 |
) |
$ |
11.8 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Senior Rent Payment Account |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Ending Balance from Prior Month (2) |
|
|
|
$ |
39.9 |
|
$ |
48.4 |
|
$ |
3.5 |
|
$ |
4.2 |
|
$ |
12.9 |
|
$ |
19.6 |
|
$ |
19.6 |
|
$ |
19.6 |
|
$ |
(28.2 |
) |
$ |
(28.2 |
) | |
Less: Senior Rent Payment |
|
|
|
$ |
|
|
$ |
(48.4 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
(47.7 |
) |
$ |
|
|
$ |
|
| |
Plus: Transfer from Revenue Account |
|
|
|
$ |
8.5 |
|
$ |
3.5 |
|
$ |
0.7 |
|
$ |
8.7 |
|
$ |
6.7 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Ending Balance for Current Month |
|
|
|
$ |
48.4 |
|
$ |
3.5 |
|
$ |
4.2 |
|
$ |
12.9 |
|
$ |
19.6 |
|
$ |
19.6 |
|
$ |
19.6 |
|
$ |
(28.2 |
) |
$ |
(28.2 |
) |
$ |
(28.2 |
) | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Equity Account |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Ending Balance from Prior Month (2) |
|
|
|
$ |
19.0 |
|
$ |
16.6 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Less: Transfer to Revenue Account |
|
|
|
$ |
(19.0 |
) |
$ |
(16.6 |
) |
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Balance Before End-of-Month Transfer |
|
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Plus: Transfer from Revenue Account |
|
|
|
$ |
16.6 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
Ending Balance for Current Month |
|
|
|
$ |
16.6 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Funding Shortfall (5) |
|
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
(11.5 |
) |
$ |
(57.6 |
) |
$ |
(71.4 |
) |
$ |
(61.6 |
) | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Senior Rent Schedule |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Senior Rent Payment |
|
|
|
$ |
|
|
$ |
48.4 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
47.7 |
|
$ |
|
|
$ |
|
| |
Senior Rent Reserve Requirement |
|
|
|
$ |
8.0 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.8 |
|
$ |
7.0 |
|
$ |
7.0 |
|
$ |
7.0 |
| |
Senior Rent Fees and Expenses |
|
|
|
$ |
0.5 |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
0.7 |
|
$ |
|
|
$ |
|
|
$ |
|
| |
Target End-of-Month Senior Rent Reserve Balance |
|
|
|
$ |
47.9 |
|
$ |
7.8 |
|
$ |
15.7 |
|
$ |
23.5 |
|
$ |
31.4 |
|
$ |
39.2 |
|
$ |
47.0 |
|
$ |
7.0 |
|
$ |
14.1 |
|
$ |
21.1 |
|
Notes: |
|
|
(1) |
|
All netting of revenues takes place at EMMT before Total Net Revenue is transferred to the Revenue Account. |
(2) |
|
Starting cash balance as of 3/1/2012. |
(3) |
|
Assumes continued prepayment of revenues by EMMT. |
(4) |
|
Amounts available in Equity Account can be used to fund Revenue Account. |
(5) |
|
Sum of Operating Account Shortfall (Balance Before End-of-Month Transfer from Revenue Account), if any, and Senior Rent Payment Account shortfall, if any. |