Perhaps you should be the judge…………………

“Delmarva Power provides this letter for one purpose. That purpose is not to provide any comment or analysis concerning the provisions…

In abbreviated form, drum-roll please, here are the top ten objections of Delmarva Power….

1. Project size

2. Price

3. In Service Date (Guaranteed Initial Delivery Date and Date Certain)

4. Responsibility for PJM Balancing Operating Reserve Charges, Related Costs and Charges Attributable to Scheduling Project Energy.

5. The Lack of Fairness of Delmarva’s SOS Customers Being Held Responsible For 100% of the Costs and Risks of the Project

6. Discretion provided to Bluewater with respect to the level of annual capacity available to Delmarva.

7. Potential Fin 46 Consolidation Event

8. Potential future risk of paying the negative prices for energy when Bluewater produces electricity and the Locational Market Prices are below zero (Negative LMP)

9. Delmara’s Consent Rights (and lack thereof) to Assignment of the PPA and/or the Wind Farm to Another Owner During the Term of the PPA.

10. Delmarva’s Obligation to Permit a Future Lender of Bluewater to Place a Lien on Key Project Assets to Accommodate Bluewater’s Desire to Finance Future Projects.

In case you read this first, detail are in Hamermesh’s report below.