March 2019 ARP Rate Call Package

Transcription

1 March 219 ARP Rate Call Package FMPA Executive Committee April 9, 219

2 March 219 Key Discussion Items ARP avg. gas cost for February was $2.67/MMBtu (~8% below budget). Current forward curve is $.12/MMBtu above budget for remainder of FY 219 February energy sales 1.% below budget due to overall mild weather; YTD energy sales now ~ YTD budget Lower gas prices and Stanton 1 planned outage led to gas generation 1% above budget and net Pool sales 2x budgeted level Average February billed cost (Demand & Energy only) was $71.56/MWh Participant Demand & Energy $/MWh cost spread $18.86/MWh in March, above (unadjusted for CSRP) 12 mo. rolling average of $1.93/MWh No charges or credits in March for the Cost Spread Reduction Program as the adjusted 12 mo. spread of $9.85/MWh remains below the $1/MWh limit set by EC $1.7 M to be withdrawn from Rate Protection Account for Vero entitlement costs for March above market value; bonds and swap terminations have occurred 2

3 March Avg. Gas Cost $2.67/MMBtu ~8% Below Budgeted Cost of $2.9/MMBtu Daily Natural Gas Prices and Average FMPA Gas Cost for Month ($/MMBtu) $4.5 $4.25 $4. $3.75 $3.5 $3.25 $3. $2.75 Daily Spot Gas Price Budgeted Cost $2.9/MMBtu Actual Avg. Cost $2.67/MMBtu; 8.% Below Budget $ Day of Month 3

4 Gas Forward Curve Down from March Avg. $.12/MMBtu > Budget for Rest of FY 219 $5. $4.5 $4. Natural Gas Price Forward Curve Comparison ($/MMBtu) Actual Contract Close $3.5 $3. 3/6/219 4/8/219 $2.5 $ Budget 4/2/218 4

5 March Energy Sales 1% Below Budget Due to Mild Weather YTD Sales Now <.1% Above Budget Monthly Billing Energy (GWh) Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 YTD Variance (Actual - Budget) (GWh) ARP Budgeted vs. Actual Billing Energy (GWh) FY 219 through March 219 YTD Variance Monthly Budget Monthly Actual

6 March Peak 6% Above Budget 1, ARP March 219 Daily and Hourly Loads ARP Peak = Mar 11, HE 17 9 MW Budgeted Peak 848 MW 25 Hourly Load (MW) Participant Peaks (MW) KWS HVA JXB OCL STK GCS NBY KUA LBG FTP CLW FTM Hourly Load (MW) Daily Loads (GWh) BSH 3/1 3/5 3/9 3/13 3/17 3/21 3/25 3/ Daily Load (GWh) 6

7 Participant Load Factors for March Ranged from ~55% to ~88% $1 88.2% Participant Billed CP Load Factors (%) March 219* $1 $1 ARP Average: 61.8% 69.9% 69.5% 67.2% 66.3% 63.1% 61.4% 6.1% 58.5% 57.3% 56.% 55.4% 54.7% $1 $1 $ $ $ $ $ HVA NBY JXB KWS GCS OCL STK LBG FTP KUA CLW BSH FTM * Net of Participant's capacity and energy from Excluded Resources, if any. 7

8 March ARP Gas Fired Generation and Pool Sales > Budget Coal Generation > Budget Despite Stanton 1 Planned Outage 5 ARP Energy Sources by Type (GWh) March Pool sales shown as a reduction to total Large CC generation Budget Budgeted Pool Sales Actual Actual Pool Sales Nuclear Coal Large CC Small CC Peaking & Other Pool Purchases 8

9 March 219 ARP Billing Rates and Projections for Next 3 Months Rate Units Mar. 219 (Actual) Apr. 219 (Proj.) May. 219 (Proj.) Jun. 219 (Proj.) Energy $/MWh Demand $/kw mo Transmission (Non KUA) $/kw mo Transmission (KUA) $/kw mo /31/19 Cash balance = $66. million, or ~ 59 days 9

10 March D&E Cost Spread $18.86/MWh > Rolling 12 Mo. Average Spread of $1.93/MWh Participant Demand & Energy Costs ($/MWh) March 219 Spread = $18.86/MWh $66.49 $66.74 $68.4 $68.6 $7.71 $71.89 $72.86 $74.9 $75.1 $76.12 $76.66 $77.28 $58.42 HVA NBY JXB KWS GCS OCL STK LBG FTP KUA CLW BSH FTM 1

11 No Cost Spread Reduction Program Activity for March Due to 12 Mo. Spread < $1/MWh 12 Month Rolling Avg. D&E Costs before and after Credit Impact ($/MWh) Spread without Credit = $1.93/MWh Spread with Credit = $9.85/MWh Rolling 12 Mth D&E Cost with Credit Credit Amount 11

12 ~$1.7M to Be Withdrawn from Rate Protection Account for March Costs Monthly Withdrawal Amounts Should Decline Beginning in April Description Amount ($M) [1] Beginning Balance $11.6 Deposits: Interest and Dividends.3 Debt Savings [2]. Withdrawals: ARP Rate Protection Account Activity for March 219 Project Costs > Market (3/1/19 3/31/19) (1.7) Redeem Series 28C Bonds & Swaps (74.6) Remaining Balance $25.6 [1] Amounts may not total due to rounding. [2] Deposits for debt savings will begin in April 219 [3] Swaps terminated in March and Bonds paid on April 1 12

13 Supplemental Information 2

14 ARP Rate Calculation Schedule 1 Page 1 of 1 Florida Municipal Power Agency All-Requirements Power Supply Project Calculation of Monthly Billing Determinants For the Month of March 219 Total Metered Demand and Energy Less Excluded Resources Billing Determinants Transmission Billing Determinants Energy Billing Demand Billing Line No. Participant Energy (kwh) CP Demand (kw) CP Load Factor (%) [1] Energy (kwh) Capacity (kw) [2] Determinants (kwh) [3] Determinants (kw) [4] (kw) [5] (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) Billed CP Load Factor (%) [6] 1 Bushnell 1,775,438 4, % 1,775,438 4,312 4, % 2 Clewiston 7,426,326 16, % (1,455,) (1,984) 5,971,326 14,342 16, % 3 Fort Meade 3,3,21 7, % (222,689) (33) 2,78,521 6,838 7, % 4 Fort Pierce 41,263,552 85, % (1,53,) (13,699) 31,21,552 71,83 85, % 5 Green Cove Springs 7,913,85 15, % (1,163,) (1,583) 6,75,85 13,71 15, % 6 Havana 1,757,965 2, % 1,757,965 2,682 2, % 7 Jacksonville Beach 49,255,868 92, % (4,857,48) (6,62) 44,398,46 86,27 92, % 8 KUA 116,28, , % (6,12,) (8,473) 11,178, ,61 267, % 9 Key West 58,778,57 117, % 58,778,57 117, , % 1 Leesburg 34,95,66 76, % (1,541,593) (2,95) 33,49,67 74,856 76, % 11 Newberry 2,763,926 5, % (121,949) (166) 2,641,977 5,86 5, % 12 Ocala 93,69, , % 93,69, , , % 13 Starke 4,858,288 9, % (1,465,) (1,995) 3,393,288 7,44 9, % 14 Total 423,717,173 9, % (26,981,639) (36,9) 396,735, ,33 9, % 15 Budget NEL 427,679, 847, % (26,784,) (36,9) 4,895, 81,96 847, % 16 Over (Under) Budget (3,961,827) 52, % 197,639 (4,159,466) 52,424 52, % 17 Percent Over (Under) Budget -.93% 6.18% -6.7%.74%.% -1.4% 6.46% 6.18% -7.5% Notes: [1] Equals Column (b) / (Column (c) * number of hours in month) [2] Based on seasonal capacity ratings for Winter season. [3] Equals Column (b) - Column (e). [4] Equals Column (c) - Column (f). [5] Equals Column (c). Transmission billing determinants are based on total metered demand. Net of Excluded Resource capcity and energy. Equals Column (g) / (Column (h) * number of hours in month) P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 5:7 PM

15 FLORIDA MUNICIPAL POWER AGENCY ALL-REQUIREMENTS POWER SUPPLY PROJECT Monthly ARP Energy Balance For the Month of March 219 ARP Rate Calculation Schedule 2 Page 1 of 1 Line No. Sources of Energy: Description Actual (MWh) Budget (MWh) Actuals Above/ (Below) Budget (MWh) Actuals Above/ (Below) Budget (%) Percent of Total Energy (%) (a) (b) (c) (d) (e) (f) FMPA Generation 1 Nuclear 37,57 36, % 6.5% 2 Coal 66,38 45,627 2, % 11.7% 3 Large Combined Cycle Units (Gas) 46,33 388,481 71, % 81.3% 4 Small Combined Cycle Units (Gas) 29,52 (29,52) -1.%.% 5 Peakers (Gas and Oil) 85 2,254 (1,44) -62.3%.2% 6 Total FMPA Generation 564,275 52,338 61, % 99.6% Purchases 7 Pool Purchases % 8 Purchases from Others 2,14 2, % 9 Total Purchases 2,21 2, % 1 Total Energy Sources 566,476 52,338 64, % 1.% Uses of Energy: Net Energy for Participant Load 11 Excluded Resource Energy (26,982) (26,784) (198).7% -4.8% 12 ARP Sales to Participants (396,736) (4,895) 4,159-1.% -7.% 13 Total Net Energy for Participant Load (423,717) (427,679) 3, % -74.8% Sales to Others 14 Pool Sales (125,572) (62,88) (63,484) 12.2% % 15 Bartow Peaking Sale (53) (125) % -.1% 16 Winter Park PR Sale (7,43) (7,43) % 17 Total Sales to Others (133,55) (62,213) (7,842) 113.9% % Losses and Other Adjustments 18 FMPA Transmission Losses (8,959) (1,241) 1, % -1.58% 19 Share of KUA Transmission Losses (24) (93) % -.4% 2 Stanton 1&2 Transformer Losses (593) (52) (91) 18.1% -.1% 21 Offline Auxiliaries (551) (8) % -.1% 22 CROD Schedules Above/(Below) Meter --.% 23 Inadvertent Energy % 24 Total Losses & Other Adjustments (9,74) (12,446) 2, % -1.71% 25 Total Energy Uses (566,476) (52,338) (64,138) 12.8% -1.% 26 Difference (Sources - Uses) () () -- P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219: 5:8 PM

16 Florida Municipal Power Agency All-Requirements Power Supply Project Calculation of ARP Cash Balance and Days Cash on Hand As of March 31, 219 ARP Rate Calculation Schedule 3 Page 1 of 1 Line No. Description Units Amount Notes (a) (b) (c) (d) Cash Balance Calculation: 1 Total O&M Account 3/31/19 ($) $ 71,47,57 2 Less Line of Credit Balance ($) $ (5,,) 3 Other ($) $ - 4 Total Cash Available for Rate Setting ($) $ 66,47,57 Days Cash and Confidence Level Development: 5 Current Cash Balance ($) $ 66,48 Equals Line 4 / 1, Projected 6-Day Cash Need: 6 Estimated Participant Costs for March 219 ($) 33,198 Schedule 6, Line 25 7 Projected Participant Costs for April 219 ($) 33,58 Schedule 6, Line 25 8 Total Projected 6-Day Cash Need ($) $ 66,779 9 Days Cash on Hand Days 59.3 Equals Line 5 / (Line / 6) 1 Rounded to Nearest Five Days Days Associated Confidence Level per Rate Schedule B-1 % 5% P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 5:8 PM

17 Florida Municipal Power Agency All-Requirements Power Supply Project Calculation of Monthly Billing Rates For the Month of March 219 ARP Rate Calculation Schedule 4 Page 1 of 2 Line No. Description Units Value Notes (a) (b) (c) (d) Demand Rate: 1 FY 219 Base Demand Rate $/kw-mo. $ 2.1 Per Fiscal Year 219 Budget Adjustment to Demand Rate: 2 Current Demand (Over)/Under Recovery Balance $ $ 416 Through February Projected Billing Demand (Mar Jun 219) MW 4,12 4 Demand (Over)/Under Recovery Adjustment $/kw-mo. $.1 Equals Line 2 / Line 3 5 Adjusted Demand Rate $/kw-mo. $ 2.2 Equals Line 1 + Line 4 Energy Rate: 6 FY 219 Base Energy Rate $/MWh $ Per Fiscal Year 219 Budget Adjusted Energy Rate: Estimated Monthly Participant Energy Costs: 7 Fuel Costs $ $ 12,742 Estimated. 8 Purchased Power Costs $ 255 Estimated. 9 Variable O&M Costs $ 1,954 Estimated. 1 Other Energy Costs $ 18 Estimated. 11 Total Estimated Monthly Energy Costs $ $ 15,131 Equals the sum of Lines 7 through Less Estimated Non-Rate Revenue $ (4,22) Estimated. 13 Total Estimated Participant Energy Costs $ $ 1,911 Equals Line 11 + Line Monthly Participant Billing Energy MWh 396,736 Actual. 15 Monthly Participant Energy Cost $/MWh $ 27.5 Equals (Line 13 / Line 14) * 1,. P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 5:9 PM

18 Florida Municipal Power Agency All-Requirements Power Supply Project Calculation of Monthly Billing Rates For the Month of March 219 ARP Rate Calculation Schedule 4 Page 2 of 2 Line No. Description Units Value Notes (a) (b) (c) (d) Calculation of Cash Adjustment to Energy Rate: 16 Projected 6-Day Cash Target $ $ 66,779 Schedule 3, Line Current Cash Balance $ 66,48 Actual cash balance at March 31, Cash (Above)/Below Target $ $ 731 Equals Line 16 - Line Projected Billing Energy (Mar Jun 219) MWh 1,838,259 2 Cash Adjustment to Energy Rate $/MWh $.4 Equals (Line 18 / Line 19) * 1,. 21 Adjusted Energy Rate $/MWh $ 27.9 Equals Line 15 + Line 2. Transmission Rate (Non-KUA): 22 FY 219 Base Transmission Rate $/kw-mo. $ 2.7 Per Fiscal Year 219 Budget Adjustment to Transmission Rate: 23 Current Transmission (Over)/Under Recovery Balance $ $ 94 Through February Projected Transmission Billing Demand (Mar Jun 219) MW 2, Transmission (Over)/Under Recovery Adjustment $/kw-mo. $.3 Equals Line 23 / Line Adjusted Transmission Rate $/kw-mo. $ 2.73 Equals Line 22 + Line 25 Transmission Cost (KUA): 27 KUA Monthly OUC Transmission Charges ($) $ 222 Estimated. 28 KUA Monthly Transmission Billing Demand MW 267 Actual. 29 KUA Monthly Transmission Cost $/kw-mo. $.83 Equals Line 27 / Line 28 P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 5:9 PM

19 Florida Municipal Power Agency All-Requirements Power Supply Project Billing Rates and Costs Billed to Participants For the Month of March 219 ARP Rate Calculation Schedule 5 Page 1 of 1 Summary of Monthly Billing Rates: Line FY 219 Monthly Adjusted No. Billing Rates Units Base Rate Adjustment Rate (a) (b) (c) (d) (e) 1 Adjusted Energy Rate ($/MWh) $ $.73 $ Adjusted Demand Rate ($/kw-mo.) $ 2.1 $.1 $ Adjusted Transmission Rate (non-kua) ($/kw-mo.) $ 2.7 $.3 $ KUA Transmission Rate ($/kw-mo.) $.77 $.6 $.83 5 Load Retention Credit ($/MWh) $ (.3) $ - $ (.3) 6 Low Voltage Delivery Charge ($/kw-mo.) $.72 $ - $.722 Summary of Costs Billed to Participants: [1] Billing Units Demand & Energy Costs Transmission and Other Costs Total All-in Cost Load Trans- Delivery Special Trans- Energy Demand Retention Total Demand Customer mission Voltage Jax Beach Line Energy Demand mission Charge Charge Credit & Energy Cost Charge Charge Adjustment Charge No. Participant (MWh) [2] (MW) [3] (MW) [4] ($) ($) ($) ($) ($/MWh) ($) ($) ($) ($) ($) ($/MWh) (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l) (m) (n) (o) 7 Bushnell 1, $ 49.5 $ 87.1 $ (.5) $ $ $.7 $ 11.8 $ 3.1 $ $ Clewiston 5, (1.8) Fort Meade 2, (.8) Fort Pierce 31, ,451. (9.4) 2, , Green Cove Springs 6, (2.) Havana 1, (.5) Jacksonville Beach 44, , ,737.7 (13.3) 2, $ , KUA 11, ,74. 5,223.7 (33.1) 8, , Key West 58, , ,377.2 (17.6) 3, , Leesburg 33, ,512.1 (1.) 2, , Newberry 2, (.8) Ocala 93, ,614. 4,38.6 (28.1) 6, , Starke 3, (1.) Total 396, $ 11,68.9 $ 17,439.3 $ (119.) $ 28,389.2 $ $ 21.4 $ 1,95.9 $ 6.9 $ 35.2 $ 3,43.5 $ Notes: [1] Amounts shown include only those charges reflected in Rate Schedule B-1 and do not include certain additional charges or credits that may appear on a Participant's ARP bill, including TARP-related credits and solar PV charges and credits. Amounts shown also do not include any charges or credits to Participants pertaining to the incentive rates included as riders to Rate Schedule B-1, including the Load Attraction Incentive Rate, Economic Development Rate, and Cost Spread Reduction Program. [2] Schedule 1, Column (g). [3] Schedule 1, Column (h). [4] Schedule 1, Column (i). P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 5:9 PM

20 Florida Municipal Power Agency All-Requirements Power Supply Project Historical and Projected Monthly Costs and Rates For the Month of March 219 ARP Rate Calculation Schedule 6 Page 1 of 6 Line Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual No. Description Units Apr 18 May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19 (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l) Participant Demand Costs: 1 Member Capacity ($) $ 2,477 $ 2,477 $ 2,477 $ 2,477 $ 2,477 $ 2,477 $ 2,72 $ 2,72 $ 3,511 $ 4,378 2 Contract Capacity ($) 1,466 1,49 1,234 1,49 1,43 1,46 1,424 1,533 1,424 1,417 3 Fixed O&M Costs ($) 1,891 2,65 1,415 1,49 1,431 1,388 1,436 2,488 1,226 1,755 4 Debt & Capital Leases ($) 1,378 1,147 1,248 1,18 1,145 1,397 9,891 1,17 1,84 9,858 5 Direct Charges & Other ($) 1,473 1,45 1,624 1,552 1,83 1,369 1,257 1,69 1,686 1,567 6 Gas Transportation ($) 2,638 2,72 2,612 2,683 2,569 2,734 2,96 2,453 2,52 2,484 7 Less Non Rate Demand Revenue ($) (499) 2 (257) (258) (399) (391) (69) (349) (1,26) (2,598) 8 Total Participant Demand Costs ($) $ 19,824 $ 2,27 $ 19,353 $ 19,533 $ 19,429 $ 19,38 $ 19,61 $ 2,624 $ 19,947 $ 18,861 9 Per Unit Participant Cost ($/kw mo.) $ $ 2.23 $ 17.1 $ $ $ $ $ $ $ Participant Energy Costs: 1 Member Capacity ($) $ $ $ $ $ $ $ $ $ $ 11 Contract Capacity ($) Direct Charges & Other ($) Purchased Power ($) ,214 1, Fuels ($) 9,944 12,78 13,71 15,37 17,5 16,737 14,953 12,554 13,375 12, Variable O&M Costs ($) 1,171 1,158 1,348 1,517 1,751 1,861 2,92 1,571 1,32 1, Less Non Rate Energy Revenue ($) (1,474) (2,44) (1,843) (2,373) (3,169) (3,529) (3,33) (1,732) (1,341) (2,27) 17 Total Participant Energy Costs ($) $ 1,467 $ 12,2 $ 13,661 $ 15,93 $ 16,394 $ 15,539 $ 15,265 $ 13,89 $ 14,674 $ 12, Per Unit Participant Cost ($/MWh) $ $ $ $ $ $ 26.6 $ $ 33.8 $ $ Participant Transmission Costs: 19 Transmission Costs (Non KUA) ($) $ 1,827 $ 2,19 $ 2,872 $ 2,136 $ 2,75 $ 2,347 $ 2,315 $ 2,88 $ 2,81 $ 1,787 2 Transmission Costs (KUA) ($) Less Non Rate Revenue ($) (97) (1) (98) (99) (1) (1) (99) (98) (128) (162) 22 Total Participant Trans. Costs ($) $ 1,94 $ 2,219 $ 2,984 $ 2,247 $ 2,899 $ 2,467 $ 2,438 $ 2,212 $ 2,175 $ 1, Per Unit Participant Cost (Non KUA) ($/kw mo.) $ 2.79 $ 2.74 $ 3.37 $ 2.43 $ 2.96 $ 2.59 $ 2.68 $ 2.89 $ 2.9 $ Per Unit Participant Cost (KUA) ($/kw mo.) $.8 $.7 $.63 $.62 $.84 $.64 $.68 $.76 $ 1.3 $ Total Participant Costs ($) 32,231 34,59 35,998 36,873 38,722 37,386 37,34 36,726 36,796 33,21 26 Total Per Unit Participant Cost ($/MWh) $ $ $ $ $ 65.4 $ 64. $ $ $ $ Rate Adjustments: Demand Rate Adjustment 27 Base Demand Rate ($/kw mo.) $ $ $ $ $ $ $ 2.1 $ 2.1 $ 2.1 $ Under/(Over) Recovery Balance ($) (1,193) 59 (84) (5,574) (9,182) (12,911) (14,751) (13,369) (8,425) (3,699) 29 Current Month Rate Adjustment ($/kw mo.) $ (.29) $.13 $ (.18) $ (1.28) $ (2.24) $ (3.43) $ (3.81) $ (3.49) $ (2.25) $ (1.2) 3 Current Month Billing Rate ($/kw mo.) $ 21.2 $ $ $ 2.21 $ $ 18.6 $ $ $ $ 19.8 P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 8:37 PM

21 Florida Municipal Power Agency All-Requirements Power Supply Project Historical and Projected Monthly Costs and Rates For the Month of March 219 ARP Rate Calculation Schedule 6 Page 2 of 6 Line Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual No. Description Units Apr 18 May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19 (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l) Energy Rate Adjustments Days Cash Calculation: 31 Required Cash for 6 Day Target ($) 66,74 7,57 72,871 75,595 76,18 74,691 74,31 73,523 69,818 62, Cash Balance at End of Month ($) 68,127 66,8 69,732 77,294 82,446 84,223 8,696 76,852 73,92 67, Days Cash on Hand (Days) Cash Below/(Above) Target ($) (1,387) 4,499 3,139 (1,699) (6,338) (9,532) (6,665) (3,329) (4,13) (5,272) 35 Rate Schedule Confidence Level ($) 5% 58% 58% 5% 43% 43% 43% 5% 43% 5% Cash Adjustment Calculation: 36 Collect/(Return) in Current Month ($) 526 1,763 1, (2,77) (2,348) (2,432) (439) (942) Additional Adjustments ($) (2,645) 1,961 5,638 4,976 3,854 (1,179) (1,412) (2,493) (5,149) 1, Total Adjustments ($) (2,119) 3,724 7,562 5,152 1,777 (3,527) (3,844) (2,932) (6,91) 1,387 Billling Rate Calculation 39 Unadjusted Participant Energy Costs ($/kw mo.) $ $ $ $ $ $ 26.6 $ $ 33.8 $ $ Current Month Rate Adjustment ($/MWh) $ 3.95 $ 5.6 $ 5.65 $.78 $ (3.76) $ (4.2) $ (4.54) $.25 $ (3.25) $ Current Month Billing Rate ($/MWh) $ $ $ 3.92 $ $ $ $ $ 34.5 $ $ Transmission Rate Adjustment 42 Base Transmission Rate ($/kw mo.) $ 2.72 $ 2.72 $ 2.72 $ 2.72 $ 2.72 $ 2.72 $ 2.7 $ 2.7 $ 2.7 $ Cumulative Under/(Over) Collected Transmis ($) Current Month Rate Adjustment ($/kw mo.) $.6 $.6 $.5 $.2 $.11 $.16 $.7 $.4 $.9 $ Current Month Billing Rate ($/kw mo.) $ 2.78 $ 2.78 $ 2.77 $ 2.92 $ 2.83 $ 2.88 $ 2.77 $ 2.74 $ 2.79 $ 2.82 Billing Determinants 46 Demand (MW) 851 1,2 1,132 1,151 1,23 1,175 1, Energy (MWh) 414,397 47,747 54,594 57,34 595, ,14 514,35 41,944 4, , Transmission Others (MW) Transmission KUA (MW) Billing Rates 5 Demand ($/kw mo.) Energy ($/MWh) Transmission Others ($/kw mo.) Transmission KUA ($/kw mo.) Average Monthly All in Costs 54 7% Load Factor All in Cost ($/MWh) % Load Factor All in Cost ($/MWh) % Load Factor All in Cost ($/MWh) ARP Average All in Cost ($/MWh) P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 8:37 PM

22 Florida Municipal Power Agency All-Requirements Power Supply Project Historical and Projected Monthly Costs and Rates For the Month of March 219 ARP Rate Calculation Schedule 6 Page 3 of 6 Line No. Description Units (a) (b) Participant Demand Costs: 1 Member Capacity ($) 2 Contract Capacity ($) 3 Fixed O&M Costs ($) 4 Debt & Capital Leases ($) 5 Direct Charges & Other ($) 6 Gas Transportation ($) 7 Less Non Rate Demand Revenue ($) 8 Total Participant Demand Costs ($) 9 Per Unit Participant Cost ($/kw mo.) Participant Energy Costs: 1 Member Capacity ($) 11 Contract Capacity ($) 12 Direct Charges & Other ($) 13 Purchased Power ($) 14 Fuels ($) 15 Variable O&M Costs ($) 16 Less Non Rate Energy Revenue ($) 17 Total Participant Energy Costs ($) 18 Per Unit Participant Cost ($/MWh) Participant Transmission Costs: 19 Transmission Costs (Non KUA) ($) 2 Transmission Costs (KUA) ($) 21 Less Non Rate Revenue ($) 22 Total Participant Trans. Costs ($) 23 Per Unit Participant Cost (Non KUA) ($/kw mo.) 24 Per Unit Participant Cost (KUA) ($/kw mo.) 25 Total Participant Costs ($) 26 Total Per Unit Participant Cost ($/MWh) Actual Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 (m) (n) (o) (p) (q) (r) (s) (t) (u) (v) $ 4,378 $ 4,335 $ 4,335 $ 4,335 $ 4,335 $ 4,335 $ 4,335 $ 4,335 $ 3,574 $ 3,574 1,42 1,422 1,422 1,422 1,422 1,422 1,422 1,422 1,44 1,636 1,67 1,593 1,682 1,62 1,579 1,578 1,69 1,562 2,4 1,65 9,719 1,73 9,832 9,832 1,73 9,832 9,832 1,148 9,614 9,614 1,77 1,871 1,745 1,812 1,9 1,767 1,828 1,871 1,894 1,872 2,258 2,473 2,646 2,683 2,657 2,737 2,741 2,667 2,881 2,48 (2,372) (1,465) (1,465) (1,464) (1,465) (1,465) (1,462) (1,458) (1,212) (1,189) $ 18,843 $ 2,32 $ 2,197 $ 2,222 $ 2,51 $ 2,26 $ 2,35 $ 2,547 $ 2,195 $ 19,565 $ $ $ $ 19.2 $ $ $ $ $ $ 25.5 $ $ $ $ $ $ $ $ $ $ (215) ,573 12,742 12,385 12,249 13,464 15,328 15,63 14,241 13,17 1,866 1,383 1,954 2,3 1,961 1,951 1,952 1,963 1,945 2,199 2,23 (3,513) (4,22) (3,54) (1,82) (1,683) (2,111) (2,51) (2,434) (2,252) (1,791) $ 8,667 $ 1,911 $ 11,26 $ 12,79 $ 14,242 $ 15,792 $ 16,287 $ 14,325 $ 13,519 $ 11,54 $ $ 27.5 $ $ $ $ $ $ $ $ $ 1,963 $ 1,845 $ 1,984 $ 2,158 $ 2,245 $ 2,249 $ 2,38 $ 2,151 $ 2,1 $ 1, (16) (82) (83) (51) (52) (52) (52) (52) (51) (5) $ 2,25 $ 1,985 $ 2,123 $ 2,329 $ 2,415 $ 2,419 $ 2,478 $ 2,321 $ 2,182 $ 1,877 $ 2.83 $ 2.78 $ 2.79 $ 2.68 $ 2.56 $ 2.55 $ 2.55 $ 2.57 $ 2.62 $ 2.75 $.86 $.83 $.81 $.71 $.64 $.65 $.62 $.68 $.73 $ ,535 33,198 33,58 35,341 37,158 38,417 39,7 37,193 35,896 32,946 $ $ $ 8.89 $ $ 68.9 $ $ $ $ $ Rate Adjustments: Demand Rate Adjustment 27 Base Demand Rate ($/kw mo.) 28 Under/(Over) Recovery Balance ($) 29 Current Month Rate Adjustment ($/kw mo.) 3 Current Month Billing Rate ($/kw mo.) $ 2.1 $ 2.1 $ 2.1 $ 2.1 $ 2.1 $ 2.1 $ 2.1 $ 2.1 $ $ (1,539) 416 3,278 4,297 2,163 (1,335) (4,245) (7,6) (6,67) (4,399) $ (.42) $.1 $.76 $.93 $.47 $ (.3) $ (1.3) $ (1.89) $ (1.8) $ (1.2) $ $ 2.2 $ 2.86 $ 21.3 $ 2.57 $ 19.8 $ 19.7 $ $ $ P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 8:37 PM

23 Florida Municipal Power Agency All-Requirements Power Supply Project Historical and Projected Monthly Costs and Rates For the Month of March 219 ARP Rate Calculation Schedule 6 Page 4 of 6 Line No. Description Units (a) (b) Actual Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 (m) (n) (o) (p) (q) (r) (s) (t) (u) (v) Energy Rate Adjustments Days Cash Calculation: 31 Required Cash for 6 Day Target ($) 32 Cash Balance at End of Month ($) 33 Days Cash on Hand (Days) 34 Cash Below/(Above) Target ($) 35 Rate Schedule Confidence Level ($) Cash Adjustment Calculation: 36 Collect/(Return) in Current Month ($) 37 Additional Adjustments ($) 38 Total Adjustments ($) Billling Rate Calculation 39 Unadjusted Participant Energy Costs ($/kw mo.) 4 Current Month Rate Adjustment ($/MWh) 41 Current Month Billing Rate ($/MWh) Transmission Rate Adjustment 42 Base Transmission Rate ($/kw mo.) 43 Cumulative Under/(Over) Collected Transmis ($) 44 Current Month Rate Adjustment ($/kw mo.) 45 Current Month Billing Rate ($/kw mo.) Billing Determinants 46 Demand (MW) 47 Energy (MWh) 48 Transmission Others (MW) 49 Transmission KUA (MW) Billing Rates 5 Demand ($/kw mo.) 51 Energy ($/MWh) 52 Transmission Others ($/kw mo.) 53 Transmission KUA ($/kw mo.) Average Monthly All in Costs 54 7% Load Factor All in Cost ($/MWh) 55 6% Load Factor All in Cost ($/MWh) 56 5% Load Factor All in Cost ($/MWh) 57 ARP Average All in Cost ($/MWh) 62,734 66,779 68,922 72,5 75,576 77,488 76,264 73,89 68,842 67,584 69,216 66,48 66,25 66,763 68,34 69,856 71,96 73,2 73,168 71, (6,482) 731 2,716 5,737 7,541 7,632 4,358 (11) (4,326) (4,411) 43% 5% (86) ,272 1,822 2,5 1,294 (32) (1,173) (1,8) (2,363) (3,168) ,272 1,822 2,5 1,294 (32) (1,173) (1,8) $ $ 27.5 $ $ $ $ $ $ $ $ $ 1. $.4 $ 1.34 $ 2.61 $ 3.38 $ 3.53 $ 2.19 $ (.6) $ (2.49) $ (2.67) $ $ 27.9 $ $ $ $ 3.7 $ 29.8 $ $ $ $ 2.7 $ 2.7 $ 2.7 $ 2.7 $ 2.7 $ 2.7 $ 2.7 $ 2.7 $ 2.65 $ (41) (159) (251) (284) (229) $.1 $.3 $.4 $.5 $.3 $ (.1) $ (.5) $ (.9) $ (.1) $ (.8) $ 2.71 $ 2.73 $ 2.74 $ 2.75 $ 2.73 $ 2.69 $ 2.65 $ 2.61 $ 2.55 $ ,63 1,167 1,167 1,21 1,16 1, , , , ,67 539, , , ,327 47,167 44, P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 8:37 PM

24 Florida Municipal Power Agency All-Requirements Power Supply Project Historical and Projected Monthly Costs and Rates For the Month of March 219 ARP Rate Calculation Schedule 6 Page 5 of 6 Line No. Description Units (a) (b) Participant Demand Costs: 1 Member Capacity ($) 2 Contract Capacity ($) 3 Fixed O&M Costs ($) 4 Debt & Capital Leases ($) 5 Direct Charges & Other ($) 6 Gas Transportation ($) 7 Less Non Rate Demand Revenue ($) 8 Total Participant Demand Costs ($) 9 Per Unit Participant Cost ($/kw mo.) Participant Energy Costs: 1 Member Capacity ($) 11 Contract Capacity ($) 12 Direct Charges & Other ($) 13 Purchased Power ($) 14 Fuels ($) 15 Variable O&M Costs ($) 16 Less Non Rate Energy Revenue ($) 17 Total Participant Energy Costs ($) 18 Per Unit Participant Cost ($/MWh) Participant Transmission Costs: 19 Transmission Costs (Non KUA) ($) 2 Transmission Costs (KUA) ($) 21 Less Non Rate Revenue ($) 22 Total Participant Trans. Costs ($) 23 Per Unit Participant Cost (Non KUA) ($/kw mo.) 24 Per Unit Participant Cost (KUA) ($/kw mo.) 25 Total Participant Costs ($) 26 Total Per Unit Participant Cost ($/MWh) Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Dec 19 Jan 2 Feb 2 Mar 2 Apr 2 May 2 Jun 2 Jul 2 Aug 2 Sep 2 (w) (x) (y) (z) (aa) (ab) (ac) (ad) (ae) (af) $ 3,574 $ 3,574 $ 3,574 $ 3,574 $ 3,574 $ 3,574 $ 3,574 $ 3,574 $ 3,574 $ 3,574 1,44 1,44 1,44 1,86 1,44 1,44 1,44 1,44 1,44 1,44 1,642 1,6 1,625 1,617 1,882 1,63 1,64 1,65 1,636 1,596 1,498 9,614 9,614 9,854 9,614 9,614 9,854 9,614 9,614 9,929 1,955 1,827 1,873 1,952 1,828 1,896 1,985 1,853 1,915 1,991 2,413 2,483 2,247 2,468 2,6 2,735 2,658 2,727 2,743 2,672 (1,191) (1,189) (1,186) (1,186) (1,188) (1,19) (1,189) (1,19) (1,19) (1,196) $ 2,331 $ 19,349 $ 19,187 $ 2,139 $ 19,75 $ 19,699 $ 19,926 $ 19,623 $ 19,732 $ 2,6 $ 25.5 $ $ $ $ $ $ $ 16.7 $ $ $ $ $ $ $ $ $ $ $ $ ,82 14,256 12,14 1,797 11,74 14,461 13,821 14,671 15,795 14,341 2,4 2,4 2,15 2,8 2,143 2,15 2,6 2,5 2,17 1,998 (2,89) (3,491) (2,765) (1,33) (1,611) (3,494) (1,83) (1,393) (2,14) (2,365) $ 12,351 $ 13,169 $ 11,649 $ 12,315 $ 12,6 $ 13,722 $ 14,89 $ 15,914 $ 16,689 $ 15,52 $ $ 3.3 $ 3.3 $ $ 28.9 $ 28.2 $ $ $ $ $ 1,783 $ 2,146 $ 2,95 $ 1,742 $ 1,876 $ 2,94 $ 2,248 $ 2,252 $ 2,311 $ 2, (5) (54) (53) (49) (5) (51) (52) (52) (53) (52) $ 1,956 $ 2,315 $ 2,265 $ 1,916 $ 2,49 $ 2,266 $ 2,419 $ 2,423 $ 2,481 $ 2,326 $ 2.73 $ 2.6 $ 2.59 $ 2.74 $ 2.68 $ 2.59 $ 2.56 $ 2.55 $ 2.54 $ 2.57 $ 1.4 $.77 $.8 $.95 $.8 $.7 $.63 $.64 $.61 $.67 34,638 34,833 33,11 34,37 33,859 35,687 37,154 37,96 38,92 37,384 $ 82.3 $ $ $ $ $ $ $ $ $ Rate Adjustments: Demand Rate Adjustment 27 Base Demand Rate ($/kw mo.) 28 Under/(Over) Recovery Balance ($) 29 Current Month Rate Adjustment ($/kw mo.) 3 Current Month Billing Rate ($/kw mo.) $ $ $ $ $ $ $ $ $ $ ,214 2, ,19 5,666 3,215 (548) (3,676) (6,58) $.24 $ 1.36 $.65 $.24 $ 1.16 $ 1.22 $.69 $ (.12) $ (.89) $ (1.76) $ $ 2.84 $ 2.13 $ $ 2.64 $ 2.7 $ 2.17 $ $ $ P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 8:37 PM

25 Florida Municipal Power Agency All-Requirements Power Supply Project Historical and Projected Monthly Costs and Rates For the Month of March 219 ARP Rate Calculation Schedule 6 Page 6 of 6 Line No. Description Units (a) (b) Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Dec 19 Jan 2 Feb 2 Mar 2 Apr 2 May 2 Jun 2 Jul 2 Aug 2 Sep 2 (w) (x) (y) (z) (aa) (ab) (ac) (ad) (ae) (af) Energy Rate Adjustments Days Cash Calculation: 31 Required Cash for 6 Day Target ($) 32 Cash Balance at End of Month ($) 33 Days Cash on Hand (Days) 34 Cash Below/(Above) Target ($) 35 Rate Schedule Confidence Level ($) Cash Adjustment Calculation: 36 Collect/(Return) in Current Month ($) 37 Additional Adjustments ($) 38 Total Adjustments ($) Billling Rate Calculation 39 Unadjusted Participant Energy Costs ($/kw mo.) 4 Current Month Rate Adjustment ($/MWh) 41 Current Month Billing Rate ($/MWh) Transmission Rate Adjustment 42 Base Transmission Rate ($/kw mo.) 43 Cumulative Under/(Over) Collected Transmis ($) 44 Current Month Rate Adjustment ($/kw mo.) 45 Current Month Billing Rate ($/kw mo.) Billing Determinants 46 Demand (MW) 47 Energy (MWh) 48 Transmission Others (MW) 49 Transmission KUA (MW) Billing Rates 5 Demand ($/kw mo.) 51 Energy ($/MWh) 52 Transmission Others ($/kw mo.) 53 Transmission KUA ($/kw mo.) Average Monthly All in Costs 54 7% Load Factor All in Cost ($/MWh) 55 6% Load Factor All in Cost ($/MWh) 56 5% Load Factor All in Cost ($/MWh) 57 ARP Average All in Cost ($/MWh) 69,471 67,934 67,471 68,229 69,546 72,841 75,114 76,862 76,286 84,51 7,915 7,549 69,858 69,316 69,74 69,171 69,984 71,223 72,739 73, (1,444) (2,615) (2,387) (1,87) 472 3,67 5,13 5,639 3,547 1,253 (366) (692) (542) (242) ,239 1,516 1,59 2,963 (366) (692) (542) (242) ,239 1,516 1,59 2,963 $ $ 3.3 $ 3.3 $ $ 28.9 $ 28.2 $ $ $ $ $ (.87) $ (1.58) $ (1.4) $ (.58) $.23 $ 1.66 $ 2.28 $ 2.59 $ 1.78 $ 5.64 $ $ $ $ $ $ $ $ $ $ $ 2.65 $ 2.65 $ 2.65 $ 2.65 $ 2.65 $ 2.65 $ 2.65 $ 2.65 $ 2.65 $ 2.65 (118) (41) (72) (11) (29) (4) (49) (118) (167) (217) $ (.4) $ (.1) $ (.2) $ (.3) $ (.1) $ $ (.1) $ (.4) $ (.5) $ (.8) $ 2.61 $ 2.64 $ 2.63 $ 2.62 $ 2.64 $ 2.65 $ 2.64 $ 2.61 $ 2.6 $ ,59 1, ,7 1,174 1,175 1,218 1,114 42, , , , , , , , , , P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 8:37 PM

26 ARP Rate Calculation Schedule 7 Page 1 of 1 Florida Municipal Power Agency All-Requirements Power Supply Project Historical and Projected All-In ARP Cost ($/MWh) at Varying Confidence Levels and Load Factors For the Month of March 219 Confidence Level Apr 18 May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 2 Feb 2 Mar 2 Apr 2 May 2 Jun 2 Jul 2 Aug 2 Sep 2 6% Load Factor 1.% $ $ $ $ 8.78 $ $ 71.5 $ $ $ $ $ $ 8.85 $ $ $ $ 8.23 $ $ $ $ 7.9 $ $ $ $ 75.2 $ $ $ $ $ $ % % % % % Load Factor 1.% $ $ $ $ $ $ 8.75 $ 78.8 $ 87.8 $ 9.67 $ $ 87.3 $ $ $ 93.8 $ $ 9.64 $ 87.3 $ $ $ 8.56 $ 85.8 $ 87.6 $ 86.5 $ $ $ $ $ $ $ % % % % % Load Factor 1.% $ $ $ 78.7 $ $ $ $ $ $ $ 78. $ $ $ $ $ 74.4 $ $ 69.8 $ $ $ 64.1 $ 68.8 $ $ $ $ 7.19 $ 7.72 $ $ $ $ % % % % $/MWh % CL 5% CL 7% CL 8% CL 9% CL Historical and Projected All In ARP Cost ($/MWh) at Various Confidence Levels (Assumes 6% Load Factor) 6 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Feb 19 Apr 19 Jun 19 Aug 19 Oct 19 Dec 19 Feb 2 Apr 2 Jun 2 Aug 2 P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 8:39 PM

27 Florida Municipal Power Agency All-Requirements Power Supply Project Comparison of Participant Demand and Energy Costs ($/MWh) For the Month of March 219 ARP Rate Calculation Schedule 8 Page 1 of 1 Demand & Energy Costs ($/MWh) [1] [2] Fiscal 219 Line Current Month Year to Date Rolling 12 Month No. Description (March 219) (Weighted Average) (Weighted Average) (a) (b) (c) (d) 1 Fort Meade $ $ 75.1 $ Bushnell $ $ $ Clewiston $ $ $ KUA $ 75.1 $ 7.12 $ Fort Pierce $ 74.9 $ 69.8 $ Leesburg $ $ $ Starke $ $ $ Ocala $ 7.71 $ $ Green Cove Springs $ 68.6 $ $ Key West $ 68.4 $ $ Jacksonville Beach $ $ $ Newberry $ $ $ Havana $ $ $ Max $ $ 75.1 $ Min $ $ $ Simple Avg $ 7.99 $ 7.78 $ Range $ $ $ 1.93 [1] Rates shown exclude transmission costs and are presented to provide an "apples-to-apples" comparison of average billed costs to Participants. [2] Amounts shown do not include current or previous contributions paid towards or credits received from the Cost Spread Reduction Program. P:\Corporate\Morning Report\Generation\OATI Daily\FYE 219\Member All in Rates FYE 19.xlsx 4/9/219; 5:19 PM

28 Florida Municipal Power Agency All-Requirements Power Supply Project Summary of Cost Spread Reduction Program (CSRP) Activity Rolling 12-Month Calculation through March 219 [1] ARP Rate Calculation Schedule 9 Page 1 of 1 12 Month Rolling Average Demand & Energy Costs without CSRP Effective 12 Month Rolling Average Demand & Energy Costs with CSRP Net CSRP Contributions/ (Credits) for March Month Rolling Line Average ARP Billings Total Increase/(Decrease) to 12 Month Rolling Average Demand & Energy Costs Due to CSRP No. Participant (MWh) ($/MWh) ($/MWh) ($) ($/MWh) ($) (%) (a) (b) (c) (d) (e) (f) (g) (h) 1 Key West 765,911 $ $ $ $.1 $ 7.2.2% 2 Havana 24,95 $ 65.5 $ 65.6 $ $.1 $.2.1% 3 Fort Pierce 466,68 $ $ $ $.1 $ 4.5.1% 4 Newberry 37,687 $ $ $ $.1 $.4.1% 5 KUA 1,58,234 $ $ $ $.1 $ % 6 Clewiston 9,727 $ $ $ $.1 $.9.1% 7 Ocala 1,324,981 $ 7.1 $ 7.11 $ $.1 $ % 8 Jacksonville Beach 677,9 $ 7.28 $ 7.29 $ $.1 $ 6.6.1% 9 Starke 54,613 $ 7.62 $ 7.63 $ $.1 $.5.1% 1 Leesburg 486,62 $ 7.97 $ 7.98 $ $.1 $ 4.7.1% 11 Green Cove Springs 1,647 $ 71.6 $ $ $ (.5) $ (5.1).7% 12 Fort Meade 4,343 $ $ $ $ (.52) $ (2.9).72% 13 Bushnell 25,329 $ $ $ $ (1.7) $ (27.1) 1.46% 14 Total Cost Spread $ 1.93 $ 9.85 $ $ (1.8) $ (.) 9.9% [1] The Cost Spread Reduction Program was implemented effective October 218. P:\Corporate\Morning Report\Generation\OATI Daily\FYE 219\Cost Spread Reduction Program Model xlsx 4/9/219; 5:6 PM

29 Florida Municipal Power Agency All-Requirements Power Supply Project Current Green Cove Springs CROD Calculation [1] Based on Actual Data through March 31, 219 ARP Rate Calculation Schedule 1 Page 1 of 1 Line No. Description -15% Adjustment No Adjustment +15% Adjustment (a) (b) (c) (d) 1 Green Cove Springs CP Demand w/ ARP (Dec Nov. 219) (kw) 24,391 24,391 24,391 Less: Green Cove Springs Excluded Resources: 2 St. Lucie Project Entitlement Capacity (kw) (1,583) (1,583) (1,583) 3 Green Cove Springs Net "All-Requirements Services" Demand (kw) 22,88 22,88 22,88 4 Adjustment to CP Demand for CROD Calculation (%) -15% % +15% 5 Adjustment to CP Demand for CROD Calculation (kw) (3,421) 3,421 6 Adjusted CP Demand for CROD Calculation (kw) 19,387 22,88 26,229 7 Less Green Cove Springs Capacity Credit Resources (kw) 8 Green Cove Springs CROD Amount (kw) 19,387 22,88 26,229 [1] Green Cove Springs' CROD amount will be based on its highest coincident peak demand with the ARP over the period December 1, 218, through November 3, 219. The information shown is based on actual information to-date and is provided for informational purposes only. Monthly Load Data for CROD Calculation Line No. Month Green Cove Springs CP Demand w/ ARP (kw) Less: Green Cove Springs Excluded Resource (kw) Green Cove Springs Net "All- Requirements Services" Demand (kw) (a) (b) (c) (d) 9 Dec 18 24,391 (1,583) 22,88 1 Jan 19 23,153 (1,583) 21,57 11 Feb 19 14,969 (1,583) 13, Mar 19 15,284 (1,583) 13,71 13 Apr May Jun Jul Aug Sep Oct 19 2 Nov 19

30 5 Bushnell Load March 219 1, Bushnell Load (MW) ARP Load (MW) Day of Month Bushnell Load Bushnell Peak ARP Load ARP Peak 55.29% Non-Coincident Peak Load Factor 55.34% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:15 PM

31 18 Clewiston Load March 219 1, 16 9 Clewiston Load (MW) ARP Load (MW) Day of Month Clewiston Load Clewiston Peak ARP Load ARP Peak 61.14% Non-Coincident Peak Load Factor 61.14% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:15 PM

32 8 Fort Meade Load March 219 1, Fort Meade Load (MW) ARP Load (MW) Day of Month Fort Meade Load Fort Meade Peak ARP Load ARP Peak 55.16% Non-Coincident Peak Load Factor 56.53% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:14 PM

33 9 Fort Pierce Load March 219 1, 8 9 Fort Pierce Load (MW) ARP Load (MW) Day of Month Fort Pierce Load Fort Pierce Peak ARP Load ARP Peak 64.85% Non-Coincident Peak Load Factor 64.85% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:14 PM

34 25 Green Cove Springs Load March 219 1, Green Cove Springs Load (MW) ARP Load (MW) Day of Month Green Cove Springs Load Green Cove Springs Peak ARP Load ARP Peak 49.87% Non-Coincident Peak Load Factor 69.59% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:14 PM

35 6 Havana Load March 219 1, Havana Load (MW) ARP Load (MW) Day of Month Havana Load Havana Peak ARP Load ARP Peak 47.77% Non-Coincident Peak Load Factor 88.1% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:13 PM

36 14 Beaches Energy Load March 219 1, Beaches Energy Load (MW) ARP Load (MW) Day of Month Beaches Energy Load Beaches Energy Peak ARP Load ARP Peak 51.15% Non-Coincident Peak Load Factor 71.47% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:13 PM

37 3 KUA Load March 219 1, KUA Load (MW) ARP Load (MW) Day of Month KUA Load KUA Peak ARP Load ARP Peak 57.82% Non-Coincident Peak Load Factor 58.52% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:12 PM

38 14 Keys Energy Services Load March 219 1, Keys Energy Services Load (MW) ARP Load (MW) Day of Month Keys Energy Services Load Keys Energy Services Peak ARP Load ARP Peak 66.59% Non-Coincident Peak Load Factor 67.13% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:12 PM

39 9 Leesburg Load March 219 1, 8 9 Leesburg Load (MW) ARP Load (MW) Day of Month Leesburg Load Leesburg Peak ARP Load ARP Peak 61.5% Non-Coincident Peak Load Factor 61.5% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:11 PM

40 8 Newberry Load March 219 1, Newberry Load (MW) ARP Load (MW) Day of Month Newberry Load Newberry Peak ARP Load ARP Peak 48.84% Non-Coincident Peak Load Factor 7.73% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:11 PM

41 25 Ocala Load March 219 1, Ocala Load (MW) ARP Load (MW) Day of Month Ocala Load Ocala Peak ARP Load ARP Peak 59.95% Non-Coincident Peak Load Factor 62.98% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:1 PM

42 12 Starke Load March 219 1, Starke Load (MW) ARP Load (MW) Day of Month Starke Load Starke Peak ARP Load ARP Peak 61.72% Non-Coincident Peak Load Factor 69.21% Coincident Peak Load Factor P:\Financial Planning\Rates\ARP Rate Model\219-3\ARP Rate Model (v2).xlsm 4/9/219; 1:1 PM