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Document Preview Power Sales Agreement [Amended and Restated] [No. 2] |
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Title: |
Power Sales Agreement [Amended and Restated] [No. 2] |
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Date: |
2002 |
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Size: |
Preview shows 17KB of 215KB total |
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Price: |
$60 |
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ID: |
#421274 |
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SECOND AMENDED AND RESTATED
POWER SALES AGREEMENT
Dated as of March 1, 2001
Between
Exelon Generation Company, LLC
(as Assignee of Commonwealth Edison Company)
and
Elwood Energy LLC
{PAGE}
Table of Contents
{TABLE}
{S} {C}
1. Definitions and Interpretation.......................................................................... 2
(a) Definitions................................................................................... 2
(b) Interpretation................................................................................ 11
(c) Legal Representation of Parties............................................................... 12
(d) Titles and Headings........................................................................... 12
(e) Sample Calculations........................................................................... 12
(f) Appendices.................................................................................... 12
(g) Conflicts in Documentation.................................................................... 13
2. Term.................................................................................................... 13
3. Generating Capacity..................................................................................... 13
4. Electric Energy Supply.................................................................................. 13
(a) Supply........................................................................................ 13
(b) Dispatch...................................................................................... 14
(c) Operating Notifications....................................................................... 14
(d) Point of Sale................................................................................. 14
(e) Communications................................................................................. 15
5. Metering; Billing; Payment.............................................................................. 15
(a) Metering...................................................................................... 15
(b) Billing....................................................................................... 18
(c) Billing Disputes.............................................................................. 18
6. Operation of Committed Units............................................................................ 19
(a) Standard of Operation......................................................................... 19
(b) Electric Energy Generation.................................................................... 19
(c) Outages....................................................................................... 19
(d) Operating Characteristics..................................................................... 21
(e) Substitute Electric Energy.................................................................... 22
(f) Fuel and Emissions............................................................................ 22
(g) Records....................................................................................... 25
7. Compensation............................................................................................ 25
(a) Capacity Charge............................................................................... 25
(b) Energy Payments............................................................................... 25
(c) Start-Up Charge............................................................................... 26
(d) Dispatch Cancellation Charges................................................................. 26
(e) Fuel Adjustment Charges....................................................................... 27
(f) Equivalent Availability Adjustment............................................................ 28
(g) Reliability Bonus............................................................................. 29
(h) Imbalance Charges............................................................................. 29
(i) 2001 Special Bonus............................................................................ 29
(j) Rates Not Subject to Review................................................................... 30
(k) Unit 1 and 2 True Up.......................................................................... 30
(l) Placement on Turning Gear..................................................................... 30
8. Commissioning of Unit 9 and Testing of All Committed Units.............................................. 30
(a) Delayed Unit 9 Commercial Operations Date..................................................... 30
(b) Capacity Tests................................................................................ 30
(c) Start-Up and Test Power from Unit 9........................................................... 31
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
9. Ancillary Services...................................................................................... 31
10. Limitation of Liability and Exclusive Remedies.......................................................... 32
11. Disagreements........................................................................................... 33
(a) Negotiations.................................................................................. 33
(b) Arbitration................................................................................... 33
(c) Settlement Discussions........................................................................ 34
(d) Preliminary Injunctive Relief................................................................. 35
(e) Obligations to Pay Charges and Perform........................................................ 35
12. Assignment; Transfer of Committed Units................................................................. 35
(a) Assignment.................................................................................... 35
(b) Consent to Assignment to Lender............................................................... 35
13. Default, Termination and Remedies....................................................................... 36
(a) Seller Default................................................................................ 36
(b) Buyer Default................................................................................. 37
(c) Remedies...................................................................................... 37
(d) Extended Outage............................................................................... 37
(e) Unit 9 Termination............................................................................ 38
14 Representations and Warranties.......................................................................... 38
(a) Representations and Warranties of Seller...................................................... 38
(b) Representations and Warranties of Buyer....................................................... 39
15. Indemnification......................................................................................... 40
16. Notices................................................................................................. 40
17. Confidentiality......................................................................................... 41
18. Governing Law........................................................................................... 42
19. Force Majeure........................................................................................... 42
(a) Definition.................................................................................... 42
(b) Events not a Force Majeure Event.............................................................. 42
(c) Obligations Under Force Majeure............................................................... 43
(d) Force Majeure Not Forced Outage............................................................... 44
(e) Continued Payment Obligation.................................................................. 44
(f) Payment of Monthly Capacity Charges........................................................... 44
20. Intentionally Omitted................................................................................... 44
21. Taxes................................................................................................... 44
(a) Applicable Taxes.............................................................................. 44
(b) Contested Taxes............................................................................... 45
(c) Other Charges................................................................................. 45
22. Miscellaneous Provisions................................................................................ 45
(a) Non-Waiver.................................................................................... 45
(b) Third Party Beneficiaries..................................................................... 45
(c) Relationship of Parties....................................................................... 45
(d) Successors and Assigns........................................................................ 45
23. Entire Agreement and Amendments......................................................................... 45
{/TABLE}
APPENDICES
Appendix A Design Limits per Committed Unit (including Schedule A-1)
Appendix B Guide Number 3
ii
{PAGE}
Appendix C Communications
Appendix D Operations Reporting Forms
Appendix E Equivalent Availability (including Schedules E-1, E-2, E-3, and E-4)
Appendix F Output Adjustment Curve
Appendix G Unit 9 Test Power Agreement
Appendix H Form of Opinion
Appendix I Delay Liquidated Damages for Unit 9
Appendix J Reliability Bonus
Appendix K Planned Outages
Appendix L Unit One-Line Diagram
Appendix M Unit 1 and 2 True Up (including Schedule M-1)
iii
{PAGE}
SECOND AMENDED AND RESTATED POWER SALES AGREEMENT
THIS SECOND AMENDED AND RESTATED POWER SALES AGREEMENT (including
Appendices and Schedules, this "Agreement") dated as of March 1, 2001, is
entered into between EXELON GENERATION COMPANY, LLC (d.b.a. "Power Team"), a
Pennsylvania limited liability company, as assignee of COMMONWEALTH EDISON
COMPANY, an Illinois corporation ("Buyer"), and ELWOOD ENERGY LLC, a Delaware
limited liability company ("Seller") to amend and restate that certain Amended
and Restated Power Sales Agreement between the Parties previously executed as of
March 24, 1999 (the "Amended and Restated Agreement"); Buyer and Seller are
sometimes referred to herein individually as a "Party" and collectively as the
"Parties");
W I T N E S S E T H:
WHEREAS, Seller owns and operates an electric generating facility (the
"Elwood Energy Station") and is engaged in the generation and sale of Electric
Energy, Capacity and associated Ancillary Services (each as defined herein); and
WHEREAS, Seller is adding an additional unit ("Unit 9") to the Elwood
Energy Station and anticipates the Unit 9 Commercial Operations Date of such
unit will occur on or prior to June 1, 2001 for Buyer; and
WHEREAS, Buyer receives and purchases, and Seller delivers and sells the
Electric Energy, Capacity and associated Ancillary Services from units three and
four ("Units 3 and 4") of the Elwood Energy Station pursuant to the Amended and
Restated Agreement; and
WHEREAS, Seller and Engage Energy America, LLC ("Engage") are parties to an
Amended and Restated Power Sales Agreement dated as of November 10, 1999 (the
"Engage PSA"); and
WHEREAS, Buyer and Engage are parties to a contract whereby the Ancillary
Services, energy and capacity sold under the Engage PSA are resold by Engage to
Buyer (the "Engage Resale PSA") (the Engage PSA and the Engage Resale PSA are
hereafter referred to collectively as the "Engage Agreements"); and
WHEREAS, the Parties desire to amend and restate the Amended and Restated
Agreement as provided hereunder with regard to certain terms in connection with
the (i) true up of pricing between this Agreement and the Engage Agreements and
(ii) the further amendment and restatement of the Amended and Restated Agreement
to revise certain terms and conditions permanently and to reflect the addition
of a new unit (such new unit, Unit 9); and
WHEREAS, the Parties desire that this Agreement shall supersede the Amended
and Restated Agreement in its entirety.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein set forth, the Parties hereto agree as follows:
{PAGE}
1. Definitions and Interpretation
------------------------------
(a) Definitions. As used in this Agreement, (i) the terms set forth below
-----------
in this Section 1(a) shall have the respective meanings so set forth, and (ii)
the terms defined elsewhere in this Agreement shall have the meanings therein so
specified irrespective of whether identified in this Section 1(a).
"Affected Party" has the meaning set forth in Section 19(a) (Definition).
"Affiliate" means, when used with respect to any Person, any Person
controlling, controlled by or under common control with such Person. For the
purposes of this definition, the term "controlling" (and, with correlative
meanings, the terms "controlled by" and "under common control with") shall mean
the possession of the legal right to direct or cause the direction of the
management and policies of such Person, whether through the ownership of voting
securities or by contract or agency or otherwise.
"Allowances" shall mean any allowances, credits, trading units ("ATUs"),
allocations, or other comparable terms used to express and quantify regulated
air pollutants.
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