Calculation Procedure of Fuel Cost Changes Sample Clauses

Calculation Procedure of Fuel Cost Changes. Each year after the effective date of the Entergy-Gulf States Merger (Merger), merger-related fuel cost changes (MRFC) will be Calculated for each Company in accordance with 70.05. The MRFC will be used to calculate a Cumulative Fuel Change Balance (CFCB) for each Company, as follows: Year ending CFCB = (Year beginning CFCB x (1 + i)) + MRFC) where: i = the average yield on ten-year U.S. Treasury Notes for the year just ended. At the end of each of the years prior to the final year, if the CFCB is negative for one or more Companies and positive for one or more Companies, then 50 percent of the Company's positive CFCB (i.e., higher fuel costs due to the merger) shall be transferred to the CFCB of the Company or Companies with a negative balance. At the end of the tenth year (or such shorter period of time as set forth in Section 70.04) of this procedure, the above procedure will apply except that the full amount (100%) of a positive CFCB will be transferred subject to the limitation that such transfer does not cause the CFCB to become positive for another Company. For the Companies receiving the transferred amount, the transfer shall be allocated in proportion to each Company's percentage of the total of the negative balances of the participating companies. Any year after a positive amount is transferred from a Company's CFCB and that Company's CFCB subsequently becomes negative, then such previous transfers will be reversed to the extent the reversals do not cause the Company's CFCB to become positive.
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