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Modification No. 15
to
POWER AGREEMENT
Dated October 15, 1952
between
OHIO VALLEY ELECTRIC CORPORATION
AND
UNITED STATES OF AMERICA
Acting By and Through the
SECRETARY OF ENERGY,
the statutory head of the
DEPARTMENT OF ENERGY
Dated as of
February 1, 1993
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Contract No. DE-AC05-76OR01530
(Modification No. 15)
THIS MODIFICATION NO. 15, dated as of the 1st day of February,
1993, by and between OHIO VALLEY ELECTRIC CORPORATION, a
corporation organized under the laws of the State of Ohio
(hereinafter called the "Corporation"), and the UNITED STATES OF
AMERICA (hereinafter sometimes called the "Government"), acting by
and through the SECRETARY OF ENERGY, the statutory head of the
DEPARTMENT OF ENERGY (hereinafter called "DOE");
W I T N E S S E T H T H A T
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WHEREAS, Corporation and the Government have heretofore
entered into a contract dated October 15, 1952, providing for the
supply by Corporation of electric utility services to the United
States Atomic Energy Commission (hereinafter called "AEC") at AEC's
project near Portsmouth, Ohio (hereinafter called the "Project"),
which contract has heretofore been modified by Modification No. 1,
dated July 23, 1953, Modification No. 2, dated as of March 15,
1964, Modification No. 3, dated as of May 12, 1966, Modification
No. 4, dated as of January 7, 1967, Modification No. 5, dated as of
August 15, 1967, Modification No. 6, dated as of November 15, 1967,
Modification No. 7, dated as of November 5, 1975, Modification No.
8, dated as of June 23, 1977, Modification No. 9, dated as of July
1, 1978, Modification No. 10, dated as of August 1, 1979,
Modification No. 11, dated as of September 1, 1979, Modification
No. 12, dated as of August 1, 1981, Modification No. 13, dated as
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of September 1, 1989, and Modification No. 14, dated as of January
15, 1992 (said contract, as so modified, is hereinafter called the
"DOE Power Agreement"); and
WHEREAS, pursuant to the Energy Reorganization Act of 1974,
the AEC was abolished on January 19, 1975, and certain of its
functions, including the procurement of electric utility services
for the Project, were transferred to and vested in the
Administrator of Energy Research and Development; and
WHEREAS, pursuant to the Department of Energy Organization
Act, all of the functions vested by law in the Administrator of
Energy Research and Development or the Energy Research and
Development Administration were transferred to, and vested in, the
Secretary of Energy on October 1, 1977; and
WHEREAS, pursuant to the Energy Policy Act of 1992, the United
States Enrichment Corporation (hereinafter called "USEC") was
established to lease from DOE its uranium enrichment facilities
beginning July 1, 1993; and the DOE was authorized by such Act to
continue to receive electricity under the DOE Power Agreement and
to resell it to USEC; and
WHEREAS, Corporation and DOE desire to amend the DOE Power
Agreement further as hereinafter provided;
NOW, THEREFORE, the parties hereto do hereby agree as follows:
1. Paragraph 2 of Section 2.05 is amended by deleting the
second sentence thereof in its entirety and substituting therefor
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the following:
In addition, DOE shall have the right at any time to
sell or provide permanent or supplemental power and
energy in an amount up to 2,500 kw to its tenants for
their consumption at or in the vicinity of the Project;
provided, however, that DOE's right to sell to its
tenant, the United States Enrichment Corporation
("USEC"), a corporation established by the Energy Policy
Act of 1992, for consumption at the Project, power and
energy purchased from Corporation shall not be limited in
amount and provided further that DOE's right to sell to
its tenant USEC for consumption at DOE's uranium
enrichment facility near Paducah, Kentucky, power and
energy purchased from Corporation shall not be limited in
amount except as provided in paragraph 3 of this Section
2.05.
2. Paragraph 3 of Section 2.05 is amended by deleting from
its first sentence the word "Governmental."
3. This Modification No. 15 to the DOE Power Agreement shall
become effective at 12:01 A.M. on July 1, 1993, if Corporation has
delivered to DOE a written notice to the effect that:
All applicable requirements as to approval by or
filings with regulatory agencies or other governmental
bodies having jurisdiction in respect of the transactions
constituting the subject matter of this Modification No.
15 (including expiration of any specified period after
the date of any filing) have been complied with and all
requisite approvals are in full force and effect and none
is the subject of attack on appeal by direct proceeding
or otherwise, and (except to the extent that Corporation
shall waive such condition) any requisite approvals have
become final and not subject to judicial review in any
court.
4. The DOE Power Agreement, as modified by Modifications No.
1 through No. 14, both inclusive, and by this Modification No. 15,
is hereby in all respects confirmed.
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IN WITNESS WHEREOF, the parties hereto have executed this
Modification No. 15 as of the date and year first above written.
OHIO VALLEY ELECTRIC CORPORATION
By________________________________
President
UNITED STATES OF AMERICA
By________________________________
Authorized Contracting Officer