Poseidon Track Record

Question 0

How much was the cost of water at the Tampa desal plant during the 7-year period of operating inefficiency?

Answer 0

$3,507 per acre-foot

Question 1

How much were the cost overruns at the Tampa Bay desal plant?

Answer 1

44% cost overruns.

$110 million budgeted initially, $158 million was final cost.

Question 2

What was the initial capital budget for Carlsbad, and what was the final cost?

Answer 2

Initial capital budget was $300 million.

Final cost was $900 million.

200% cost overrun.

Question 3

What did Poseidon Carlsbad estimate as its average cost for electricity compared with estimates from 2 independent consultants?

Answer 3

Poseidon Resources estimated $0.116/kWh.

Consultants estimated $0.075/kWh.

This is a 54% under-estimation.

Question 4

What did Poseidon Tampa Bay estimate as its average cost for electricity compared with actual costs?

Answer 4

Poseidon Resources estimated $0.04/kWh.

Actual costs were $0.09/kWh.

This was 125% overbudget