AMENDMENT NO. 5 TO THE Exhibit 10.26
SAN DIEGO GAS & ELECTRIC COMPANY
NUCLEAR FACILITIES QUALIFIED CPUC
DECOMMISSIONING MASTER TRUST
AGREEMENT FOR SAN ONOFRE
NUCLEAR GENERATING STATIONS
This Amendment is entered into as of the __26th day of __December,
1997, by and between San Diego Gas & Electric Company, a corporation
duly organized and existing under the laws of the State of
California, and having its principal office at 101 Ash Street, San
Diego, California 92101-3017 (the "Company"), and State Street Bank
and Trust Company, as Trustee, having its principal office at 1
Enterprise Drive, Quincy, Massachusetts 01171 (the "Trustee").
WHEREAS, in Section 2.12 of the Nuclear Facilities Qualified CPUC
Decommissioning Master Trust Agreement dated June 29, 1992 (the
"Agreement") between the Company and Trustee, the parties
specifically reserve the right to amend the Agreement; and
WHEREAS, the San Diego Gas & Electric Company Nuclear Facilities
Decommissioning Master Trust Committee has authorized the amendment
of the Agreement and the California Public Utilities Commission
filing and review process has been completed with no objections;
NOW, THEREFORE, the parties agree as follows:
1. The recitals set forth above are incorporated herein by this
reference thereto.
2. The Agreement shall be amended by restating Section 2.01 (5) to
read in its entirety:
Interim Disbursements. The estimated costs and schedule for
decommissioning each of the Plants shall be reviewed
periodically and updated when the revenue requirement for
decommissioning is reviewed by the CPUC in the Company's
general rate cases. One year prior to the time
decommissioning of a Plant or Plants is estimated to begin,
the Company shall apply for CPUC approval of the estimated
cost and schedule for decommissioning each Plant. Upon the
occurrence of changed circumstances, the Company may apply to
the CPUC for amendments to the estimated cost and schedule
for decommissioning each plant. Upon approval of the cost
and schedule for decommissioning each Plant or Plants, the
CPUC shall authorize Interim Disbursements from the
applicable Fund to pay Decommissioning Costs. Interim
Disbursements shall be limited to 90% of the forecast of
Decommissioning Costs approved by the CPUC. Final payment
from the applicable Fund for all Decommissioning costs shall
be made pursuant to Section 2.01 (6).
Prior to the issuance of an Interim Disbursement order, the
Trustee is authorized to pay up to 3 percent of the amount
specified in paragraph 50.75 of Title 10 of the Code of Federal
Regulations for decommissioning planning purposes upon receipt
of a Disbursement Certificate or a Withdrawal Certificate
meeting the requirements of Section 2.01 (4) (a)-(c).
4. Except as expressly amended hereby, the Agreement is hereby
restated, confirmed, and ratified in all respects and shall
remain in full force and effect.
5. Capitalized terms used herein and not otherwise defined shall
have the definitions ascribed thereto in the agreement.
IN WITNESS WHEREOF, the Company, the California Public Utilities
Commission, and the Trustee have set their Hands and seals to this
Amendment to the Agreement as of _____________, 1997.
SAN DIEGO GAS & ELECTRIC COMPANY
By:
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Accepted:
STATE STREET BANK AND TRUST COMPANY
By:
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Approved and Accepted:
CALIFORNIA PUBLIC UTILITIES COMMISSION
By:
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