1. Paul J. Gallagher, Sr., Esq.
COO & GC
Fishermen’s Energy

2. Fishermen’s “Nets” Benefits for New Jersey

3. Why is the Supply Chain So Important?
Because the Law Says So:
An application must include a detailed description and financial analysis of the project and the proposed method of financing the project, including documentation demonstrating that the applicant has applied for all current State and federal grants and other forms of cost offsets or tax advantages. The application must also contain a cost-benefit analysis, which must include, at a minimum:
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4. Why is the Supply Chain so Important?
a detailed input-output analysis of the impact of the project on income, employment, wages, and taxes in the State, with an emphasis on in-state manufacturing employment;
detailed information concerning assumed employment impacts in the State, including expected duration of employment and salaries;
an analysis of the anticipated environmental benefits, health benefits, and environmental impacts of the project to the citizens of the State;
an analysis of any impact on residential, commercial, and industrial ratepayers over the life of the project;
an analysis of any long-term effect on energy and capacity markets as a result of the project; and
other benefits, such as increased in-state construction, operations, maintenance, and equipment purchase.
This is the burden of proof facing any potential developer
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5. THE DEMONSTRATION SCALE PROJECT
THE ATLANTIC CITY
DEMONSTRATION SCALE PROJECT 3
ATLANTIC CITY:
THE DEMONSTRATION SCALE PROJECT

6. DOE GRANT

7. INVESTMENT TAX CREDIT

8. NJBPU NET BENEFIT ANALYSIS
Category of Benefit
Lifetime Value (
FACW )
Boston Pacific 1.
Value of power
at market rates $
55,065,015 2.
Value of
direct,
induced and indirect
Construction,
operations
and maintenance expenditures in New Jersey
(using BPU precedent, Rutgers RECON Model)
$156,460,786 3.
Value of Class 1 RECs
6,531,571 4.
Value of Environmental Benefits
$167,739,
766
No Value 5.
Value of Tourism
284,298,726 6.
Value of Price Suppression Effect
(Merit Order)
14,070,243 7.
Value of Construction an Operation optimization lessons
learned for commercial scale projects
26,484,144 8.
Value of reducing financing costs for
commercial scale
projects by proving out OREC payment mechanism
76,765,856
Total
Benefits :
787,416,107
218,057,372
Cost of
OREC s
& economic impact
184,666,030
Net Benefits:
602,750,077
33,391,342

9. Summary of lifetime benefits and costs

10. Supply Chain Capital Breakout
Where is the value?
Supply Chain Capital Breakout
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11. NEW JOBS FOR NEW JERSEY

12. SOFT COSTS

13. MANUFACTURING:CABLE

14. SUBSTATION

15. INSTALLATION

16. FISHERMEN’S O&M

17. Supply Chain = $ into Host State
Direct Supply Chain spending reverberates within the local economy
Full economic impact is multiples of direct spending
There is precedent for calculating total value to Host State (e.g. Rutgers R/ECON model)
Value to Host State is immense
Offshore Wind simply needs to demonstrate the supply chain
Public Perception underestimates long-term value
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18. Somewhere in the mid-Atlantic

19. Questions: Paul.gallagher @fishermensenergy .com
Questions:
.com