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NUG |
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The cogeneration aspect of the much-publicized project was ruled out by Hydro last February when a total of 40 NUG proposals were turned down. The EITF reached a consensus that a NUG should recognize revenue based on the lesser of amounts billable under the contract or the amount determined by the kwhs made available during the period times the estimated average revenue per kwh over the term of the contract. While New Jersey remains a challenging regulatory environment, in Fitch's view, the New Jersey Board of Public Utilities' December 2006 order approving recovery of approximately $165 million of deferred NUG costs is a significant positive development. |
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