Note 3 Reflects the average of the high and low LCOE marginal cost of operating fully depreciated gas peaking, gas combined cycle, coal and nuclear facilities, inclusive of decommissioning costs for nuclear facilities. Analysis assumes that thesalvage value for a decommissioned gas or coal asset is equivalent to its decommissioning and site restoration costs. Inputs are derived from a benchmark of operating gas, coal and nuclear assets across the U.S. Capacity factors, fuel,variable and fixed operating expenses are based on upper- and lower-quartile estimates derived from Lazard’s research. See page titled “Levelized Cost of Energy Comparison—New Build Renewable Energy vs. Marginal Cost ofExisting Conventional Generation” for additional details.
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