A biomass power project in Emmett that never developed has agreed to pay Idaho Power $200,000 for failing to get its project online by December 2011.
Yellowstone Power, developed by Richard Vinson and some partners, was planning to co-locate the plant at the Emerald Forest Products timber mill on the site of the former Boise Cascade plant near Emmett. The plant was to use steam created by burning woody material. Emerald Forest Products, however, stopped operations in April 2011. Vinson says he is reopening the mill.
Idaho Power agreed to purchase energy from the power plant in November 2010.
The proposed settlement calls for Yellowstone Power to pay Idaho Power $200,000 in non-performance damages. And Idaho Power agreed not to draw on a $450,000 letter of credit against the project. If Yellowstone doesn't make its payment, then Idaho Power can draw on the letter of credit.
The proposed settlement must be approved by the Idaho Public Utilities Commission. The commission is taking public comment on the proposal through July 9. You can e-mail comments at www.puc.idaho.gov. The case number is IPC-E-10-22.