US Geothermal reports up-time of 95-99 percent for its plants
San Emidio power plant in Nevada, U.S. (Source: U.S. Geothermal)
Alexander Richter
13 Jan 2014
U.S. Geothermal reports an up-time of 95 to 99 percent of its geothermal plants: Neal Hot Spring in Oregon, San Emidio in Nevada and Raft River, Idaho, all in the United States.
In a company update today, U.S. Geothermal reports on the performance of its geothermal power plants in Nevada, Oregon and Idaho. The plants were operating with an up-time of 94.7 percent to up to 99.2 percent.
Neal Hot Springs, Oregon
All three units have been and are operating smoothly, with fourth quarter availability of 94.7%. December generation averaged 27.7 net megawatts per hour for all hours the plant was in service. Total generation for the fourth quarter was 53,550 megawatt-hours, which is a result of excellent availability and low seasonal temperatures. This compares to 25,836 megawatt-hours for the third quarter, 30,015 for the second quarter, and 46,159 for the first quarter. Under the terms of our Power Purchase Agreement (“PPA”), November and December generation for 2013 was paid at a seasonally adjusted price of $118.80 per megawatt-hour, which is 120% of the 2013 average contract price, while October was paid at the average 2013 contract price of $99.00. For 2014, the average contract price will increase from $99.00 to $102.78 per megawatt-hour.
San Emidio, Nevada
The plant performance was exceptional, with fourth quarter availability of 98.3%. December generation averaged 9.96 net megawatts per hour for all hours the unit was in service. Total generation for the fourth quarter was 21,103 megawatt hours. This compares to 18,318 megawatt-hours for the third quarter, 18,039 for the second quarter, and 19,157 for the first quarter. Under the terms of our PPA, generation during the quarter was paid at the price of $90.27 per megawatt-hour. There is no seasonal adjustment under this power purchase agreement. For 2014, the contract price will increase from $90.27 to $91.17 per megawatt-hour.
Raft River, Idaho
The plant performance was exceptional, with fourth quarter availability of 99.2%. December generation averaged 10.2 net megawatts per hour for all hours the plant was in service. Total generation for the fourth quarter was 21,742 megawatt-hours, as a result of excellent availability and low seasonal temperatures. This compares to 18,688 megawatt-hours for the third quarter, 17,247 for the second quarter, and 19,670 for the first quarter. Under the terms of our PPA, November and December generation for 2013 was paid at a seasonally adjusted price of $71.36 per megawatt-hour, which is 120% of the 2013 average contract price, while October was paid at the 2013 average contract price of $59.47. For 2014, the average contract price will increase from $59.47 to $60.72 per megawatt-hour. In addition to the price paid for energy, Raft River currently receives $4.75 per megawatt-hour under a separate contract for the sale of Renewable Energy Credits.
“Our operating team has done an outstanding job this past quarter, particularly considering the unseasonably cold weather that each of our plants experienced during November and December. Our units are all performing with high availabilities, and with output that is at or above what we had expected,” said Dennis Gilles, Chief Executive Officer of U.S. Geothermal. “As a result of this strong fourth quarter, we anticipate our year end to be well within the range of guidance provided earlier, and we look forward to excellent results for the coming year.”
Source: Company release via Marketwatch
