Exhibit 10.22.4
TWENTY-NINTH AGREEMENT AMENDING
NEW ENGLAND POWER POOL AGREEMENT
THIS AGREEMENT, dated as of the 1st day of May, 1993 is entered into
by the signatories hereto for the amendment by them of the New England
Power Pool Agreement dated as of September 1, 1971 (the "NEPOOL
Agreement"), as previously amended by twenty-eight (28) amendments, the
most recent of which was dated as of September 15, 1992. WHEREAS,
Participant generation resources, other than hydroelectric units, whose
annual hours of operation are restricted by regulatory requirements,
contract terms or engineering or operating constraints, may require
treatment different from that otherwise provided in the NEPOOL Agreement
for Capability Responsibility and energy billing purposes; and
WHEREAS, the signatory Participants have determined to amend the
NEPOOL Agreement in the manner specified below in order to provide for a
modified Capability Responsibility and energy billing treatment for
restricted generation resources.
NOW THEREFORE, the signatories hereby agree as follows:
SECTION I
TEXT OF AMENDMENTS
A. Amendment of Section 9.2(b)(2)
Section 9.2(b)(2) of the NEPOOL Agreement is amended by inserting the
following additional provisions immediately following the present final
paragraph of Section 9.2(b)(2):
The New Unit Adjustment Factor for any Restricted Unit for which
proposed plans were submitted subsequent to November 1, 1990 for
review pursuant to Section 10.4 (or, in the case of a unit with a
rated capacity of less than 5MW, for which notification was first
given to NEPOOL subsequent to November 1, 1990) and for the
Peabody Municipal Light Plant's Waters River #2 unit shall be
determined in accordance with the formula previously specified in
this Section 9.2(b)(2), modified as follows:
n = K1(c-C) + K2(f-F) + K3(m-M) + K4(d-D) +
K5(f-F)c2 + K6(2500-a)
The symbols used in the above formula, as modified, shall have
the meanings previously specified, except that the symbols "K6"
and "a" shall have the following meanings:
K6 is a scaling factor of 0.0001.
a is as follows:
for units with more than 2500 annual hours
available for operation, "a" = 2500,
for units with annual hours available for
operation between 500 and 2500, inclusive, "a" =
annual hours available for operation, and
for units with annual hours available for
operation less than 500 hours, "a" = - 7500;
provided, however, that a Participant may elect to avoid, in
whole or part, the effect on its Capability Responsibility of a
Restricted Unit's availability being limited to 2500 hours or
less a year by agreeing to leave unfilled a portion of its
dispatchable load allocation in accordance with rules to be
adopted by the Operations Committee.
B. Amendment of Section 12.6
The first two sentences of Section 12.6 of the NEPOOL Agreement are
amended to read as follows:
If pursuant to Section 12.5A, a Participant is deemed to have
received energy service in any hour when the Participant (i) had
Entitlements in one or more generating units which were available
for service but were not scheduled for operation by NEPEX at
their full available Reserve Capability (or, to the extent
applicable, at their full available Temporary Reserve Capability)
and which, in the case of any Restricted Unit, had an unused
portion of an available Restricted Unit Operational Allowance
and/or (ii) had Scheduled Outage Service Entitlements, the
Participant shall be deemed to have received Economy Flow Service
and/or Scheduled Outage Service in an amount equal to the lesser
of:
(a) the amount of energy service the Participant is deemed to
have received pursuant to Section 12.5A, or
(b) the amount of energy service which could have been provided
from its share of (1) the unused portion of the available
Reserve or Temporary Reserve Capabilities of the units
described in (i) above, as limited in the case of any
Restricted Unit by the unused portion of its available
Restricted Unit Operational Allowance, plus (2) its
Scheduled Outage Service Entitlements.
Economy Flow Service is service which a Participant is
deemed to receive at any time to replace service which it
could have provided at the time from units described in (i)
above, and the amount of Economy Flow Service which it is
deemed to receive at the time shall not exceed the amount of
energy service which could have been provided from its share
of the unused portions of the available Reserve Capabilities
(or, to the extent applicable, the unused portion of the
available Temporary Reserve Capabilities or the unused
portion of the available Restricted Unit Operational
Allowances, whichever is controlling) of such units.
C. Addition of Definitions of "Restricted Unit" and "Restricted Unit
Operational Allowance".
The NEPOOL Agreement is amended by adding the following definitions
following the definition of "Reserve Savings Shares" in Section 15.37A:
15.37B. Restricted Unit is a generating unit, other than a
hydroelectric unit, that is restricted in annual
hours available for operation by regulatory
requirements, contract terms or actual engineering
or operating constraints. Planned or forced
outages due to maintenance requirements are not
considered restrictions in annual hours available
for operation.
15.37C. Restricted Unit Operational Allowance "Allowance")
for a Participant's Entitlement in a Restricted
Unit for any calendar year (or for the term of the
Entitlement in any year, if such term is for a
shorter period than the year) is the number of
hours for which the Restricted Unit is available
for operation during the year or such shorter
period, whichever is applicable. The Allowance
for a Participant's Entitlement in a Restricted
Unit for any year or shorter period shall be
deemed to be exhausted when (i) the number of
hours that the Operations Committee determines
the Participant would have used its Restricted
Unit Entitlement to minimize the Participant's
overall energy costs in the absence of NEPEX
dispatch, plus (ii) the number of hours that the
Participant is deemed to receive Scheduled Outage
Service with respect to its Entitlement in the
Restricted Unit during the year or such shorter
period pursuant to Section 12.6, equals the
Allowance.
D. Modification of Definition of "Scheduled Outage Service Entitlement".
The definition of "Scheduled Outage Service Entitlement" in Section
15.38B of the NEPOOL Agreement is amended to read as follows:
15.38B Scheduled Outage Service Entitlement of a
Participant is the amount of Scheduled Outage
Service which the Participant is entitled to
receive in any hour with respect to a generating
unit which is scheduled by the Operations
Committee to be out of service, in whole or in
part, for maintenance during a period approved
for it by the Operations Committee for Scheduled
Outage Service and is in fact out of service, in
whole or in part, for any reason during the
approved period. Such amount is equal to the
lesser of (i) the portion of the Participant's
share of the Reserve Capability of such unit which
is unavailable for service times an estimated
average availability of such unit between its
periodic scheduled outages or (ii) in the case of
any generating unit with a currently applicable
Temporary Reserve Capability, the portion of the
Participant's share of the Temporary Reserve
Capability which is unavailable for service;
provided, however, that (a) in the case of any
Limited Fuel Unit, the amount of a Participant's
Scheduled Outage Service Entitlement shall be
reduced, if appropriate, to take account of any
limit on the availability of stream flow or fuel
to operate the unit during the outage period, and
(b) in the case of any Restricted Unit, the
Participant's Scheduled Outage Service Entitlement
shall be limited to the unused portion, if any, of
its currently available Restricted Unit
Operational Allowance for the unit. The
Operations Committee shall develop rules for
establishing the estimated average availability of
each unit between scheduled outages. Such rules
shall become effective upon approval by the
Management Committee.
SECTION II
EFFECTIVENESS OF AGREEMENT
Following its execution by the requisite number of Participants, this
Agreement, and the amendments provided for above, shall become effective on
August 1, 1993, or on such later date as the Federal Energy Regulatory
Commission shall provide that such amendment shall become effective.
SECTION III
USAGE OF DEFINED TERMS
The usage in this Agreement of terms which are defined in the NEPOOL
Agreement shall be deemed to be in accordance with the definitions thereof
in the NEPOOL Agreement.
SECTION IV
COUNTERPARTS
This Agreement may be executed in any number of counterparts and each
executed counterpart shall have the same force and effect as an original
instrument and as if all the parties to all the counterparts had signed the
same instrument. Any signature page of this Agreement may be detached from
any counterpart of this Agreement without impairing the legal effect of any
signatures thereof, and may be attached to another counterpart of this
Agreement identical in form hereto but having attached to it one or
more signature pages.
IN WITNESS WHEREOF, each of the signatories has caused a counterpart
signature page to be executed by its duly authorized representative, as of
the 1st day of May, 1993.
COUNTERPART SIGNATURE PAGE
TO TWENTY-NINTH AGREEMENT AMENDING
NEW ENGLAND POWER POOL AGREEMENT
DATED AS OF MAY 1, 1993
The NEPOOL Agreement, being dated as of September 1, 1971, and being
previously amended by twenty-eight (28) amendments, the most recent prior
amendment being an amendment dated as of September 15, 1992.
By: /s/
Name:
Title:
Address: