Question-and-Answer Session
Operator
(Operator Instructions). The first question comes from Ben Kallo – Robert W. Baird & Co.
Ben Kallo – Robert W. Baird & Co.
For the [beginner] sales PPA, can you guys – I know you probably can't give us exact pricing but can you give us some kind of sense of where pricing is with electricity prices outside of the green sector down, can you just give us some color there?
Yoram Bronicki
Hi Ben, this is Yoram. It's a very – I think that's it's a good price for us and it's a good price for the customer. But bear in mind that this is a solicitation from 2008 and so I don't think that's it's – I don't think that by itself it is a good marker on what is yet to come.
Ben Kallo – Robert W. Baird & Co.
You mentioned in the product segment that you're working on [inaudible] that could affect 2010. Could you give us [inaudible] –
Dita Bronicki
Ben, we can't hear you.
Ben Kallo – Robert W. Baird & Co.
Okay –
Dita Bronicki
Operator, there is a problem. There is kind of an echo. Can you do something to the sound?
Operator
Our next question comes from Michael Lapides – Goldman Sachs.
Michael Lapides – Goldman Sachs
Hi Dita, real quick question, given what's happened globally to the economy, economic conditions over the last six to 12, six to 18 months, can you talk a little bit about what you're seeing in terms of your average cost of construction of a new geothermal facility here in the U.S.?
Dita Bronicki
Costs went down the beginning of 2009. Part of the costs went up again, but certainly not to the level before the crisis. We still expect a decrease in the cost from the peak of the end of 2007, 2008 and we are typically using for planning purposes the $4,000 per megawatt installed, a little more in California, a little less in Nevada, but that's what we are using internally.
Michael Lapides
And given that is it – when we think about 2010 and maybe even 2011 capital spending requirements, are there other – if we were to use that $4,000 a kilowatt kind of as a construction matrix and we see kind of what your growth points are on slide six and seven, are there any other drivers of capital spending beyond the specific plants mentioned on slide six and seven that we should incorporate in our capital spending estimates?
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