Exhibit 10(l)
1995 FORM
NEW ENGLAND POWER SERVICE COMPANY
25 Research Drive
Westborough, Massachusetts 01582
SERVICE CONTRACT
December 30, 1994
Company
Address
New England Power Service Company (hereinafter called Service
Company) is a company engaged primarily in the rendering of services to
companies in the New England Electric System holding-company system.
The organization, conduct of business and method of cost allocation of
the Service Company are designed to meet the requirements of Section 13
under the Public Utility Holding Company Act of 1935 and the rules and
regulations promulgated thereunder to the end that services performed by
the Service Company for said associate companies will be rendered to
them at cost, fairly and equitably allocated. Services will be rendered
by Service Company only upon receipt from time to time of specific or
general request therefor. Said requests may always be modified or
cancelled by you at your discretion. The parties hereto agree as
follows:
1. The Service Company agrees to furnish you upon the terms and
conditions herein set forth such of the services described in Schedule
1 hereto as you may from time to time request. Service Company will
also furnish, if available, such services not described in Schedule 1 as
you may request. Notwithstanding the foregoing the Service Company
shall not furnish under this agreement any engineering, construction, or
maintenance services for a nuclear generating plant.
2. The Service Company has and will maintain a staff trained and
experienced in the engineering, construction, operation, maintenance and
management of public utility properties. In addition to the services of
its own staff, Service Company will, after consultation with you
concerning services to be rendered pursuant to your request, arrange for
services of non-affiliated experts, consultants, accountants and
attorneys.
3. All of the services rendered under this agreement will be at
actual cost thereof. Direct charges will be made for services where a
direct allocation of cost is possible. The methods of determining such
costs and the allocation thereof are set forth in Schedule II hereto.
These methods are reviewed annually and more frequently, if appropriate.
Such methods may be modified or changed by Service Company without the
necessity of an amendment of this agreement provided that in each
instance all services rendered hereunder will be at actual cost thereof,
fairly and equitably allocated, and all in accordance with the
requirements of the Public Utility Holding Company Act of 1935 and the
rules and regulations and orders thereunder. You will be advised from
time to time of any material changes in such methods.
4. Bills will be rendered during the first week of each month
covering amounts due for the month calculated on an estimated basis
using the actual expenses incurred during the previous month. This
estimated amount would be adjusted on the bill to be rendered during the
first week of the following month. Any amount remaining unpaid after
fifteen days following receipt of the bill shall bear interest thereon
from the date of the bill at an annual rate of 2% above the lowest
interest rate then being charged by the First National Bank of Boston on
90 day commercial loans. Services will be performed hereunder for not
more than one year commencing January 1, 1995, and continuing through
December 31, 1995, unless terminated at an earlier date by either party
giving thirty days' written notice to the other of such termination at
the end of any month.
5. This agreement will be subject to termination or modification
at any time to the extent its performance may conflict with any federal
or state law or any rule, regulation or order of a federal or state
regulatory body having jurisdiction. The agreement shall be subject to
approval of any federal or state regulatory body whose approval is a
legal prerequisite to its execution and delivery or performance.
NEW ENGLAND POWER SERVICE COMPANY
By:
Treasurer
Accepted , 19
By