Innergex Renewable Energy Inc Q3 2019 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : My first question relates to your developments in France. You mentioned your kind of 5-year targets and plans. I was just wondering whether like after your agreement with, I guess, it's called east wind, like, what are your expectations in terms of bidding into the French, I guess, wind or solar RFPs? Has that pushed a lot of -- or pushed any projects forward in terms of your -- what do you expect to bid into the next RFPs?

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : Just to clarify on that last project, the small expansion, would you have to bid that into an RFP in order to get a contract before you start construction?

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : EUR 0.07, right?

Question: Nelson Ng - RBC Capital Markets, Research Division - Analyst : Okay. Got it. And then just moving on to Foard City. I was just looking at the revised forecast in terms of revenues and EBITDA. I think the latest revenue forecast assumes roughly a realized price of about $15 per megawatt hour, down from about, I think, like $16.7. And then I think the implied operating costs increased by about $3 million. So could you just give a bit more color in terms of the reduced realized price? I presume that's mainly just due to congestion but then also the increase in the implied OpEx cost by roughly $3 million.