Stranded Cost Recovery Charge. The Stranded Cost Recovery Charge (SCRC) is designed to be a nonbypassable charge as provided in RSA 374:F that is designed to recover the portion of PSNH's stranded costs that are allowed by this Agreement. The SCRC will consist of a three-part charge. Part 1 relates to the portion of stranded costs that are securitized. Parts 2 and 3 of the SCRC relate to non-securitized stranded costs. Table 1 sets forth the parties' current estimate of total stranded costs as of January 1, 2000. Table 2 contains an amortization schedule for those costs. The estimated amount of PSNH's stranded costs will be re-determined as of Competition Day, with actual stranded costs to be determined based upon the value on PSNH's books as of Competition Day, and subsequent adjustments set forth below. Part 1 of the SCRC will recover over a 12 year period the cost of the Rate Reduction Bonds referred to in Section 4, including amortization of the Bonds plus carrying charges, net of related deferred income taxes. The annual costs recoverable under Part 1 of the SCRC have first priority on annual recoveries under the SCRC, over and above Part 2 and Part 3 costs. Part 2 of the SCRC has second priority on annual SCRC collections, over and above Part 3 costs. The costs recoverable under Part 2 include nuclear decommissioning costs, and the net of IPP costs and revenues. Part 2 of the SCRC will continue until the respective obligations terminate. Part 3 of the SCRC has the lowest priority on annual recoveries under the SCRC. Annual costs recoverable under Part 3 shall be paid from SCRC collections that remain after the amounts required to amortize all annual Part 1 and Part 2 costs. The costs recoverable under Part 3 include: Remaining amount of the Acquisition Premium that is not securitized FAS 109 costs related to the non-securitized portion of the Acquisition Premium Unrecovered obligations of YAEC, CY & MY Deferred IPP costs Deferred FPPAC costs Hydro Quebec contract buy-out payments Vermont Yankee contract buy-out payments Unamortized loss on reacquired debt Excess transition costs, if any, from Section 11 hereof The net of revenues and costs of any generating facility, non-IPP entitlement or obligation retained by PSNH beyond Competition Day, until such time as the facility, entitlement or obligation is divested, except as otherwise provided in Section 9m. As provided in this MOU, the stranded costs contained in Part 3 of the SCRC will be adjusted for the following items, including,...
Stranded Cost Recovery Charge. The Stranded Cost Recovery Charge (“SCRC”) will be a non-bypassable charge as provided in RSA 374-F:3 and RSA 369-B:4, IV to recover PSNH’s Stranded Costs as approved by the Commission. For the purpose of establishing the SCRC, Stranded Costs will be divided into two parts, as described below. Part 1 will be the RRB Charge, and is the source of payment for RRBs. Therefore, the right to receive all collections in respect of the Part 1 charge will be sold to the SPSE (see Section IX). Part 1 will be billed until the RRBs are paid in full. Part 2 will recover all other Non- Securitized Stranded Costs and will continue for as long as there are Non-Securitized Stranded Costs to be recovered by PSNH. The net of prudently incurred ongoing expenses and revenue requirements (including, inter alia, decommissioning, retirement, and environmental costs or liabilities) for any generating unit, entitlement or obligation that has not been sold as part of the asset divestiture process and all over-market or under-market costs related to IPPs and the PPAs, employee protection-related costs, and property tax stabilization payments will be treated as stranded costs to be fully recovered through the SCRC. The SCRC will recover the amortization of the securitized assets and ongoing non-securitized costs. Reconciliation of Part 1 of the SCRC shall be calculated in accordance with the True-Up Mechanism described in Section IX as approved by the Commission. Part 2 of the SCRC will be reconciled annually with a return at the Stipulated Rate of Return on any overrecoveries or underrecoveries of costs. This agreement shall not alter any currently existing opportunities for retail customers to generate or acquire electricity for their own use, other than through retail electric service, without an exit fee. In the event of the municipalization of a portion of PSNH’s Service Territory during the pendency of the SCRC, the Commission shall, in matters over which the Federal Energy Regulatory Commission does not have jurisdiction, or has jurisdiction but chooses to grant jurisdiction to the state, determine, to a just and reasonable extent, the consequential damages such as stranded investment in generation, storage, or supply arrangements resulting from the purchase of plant and property from PSNH and RRB Costs, and shall establish an appropriate recovery mechanism for such damages. Any such damages shall be established, and shall be allocated between the RRB Charge and other rates and ...
Stranded Cost Recovery Charge. 509 The Stranded Cost Recovery Charge (“SCRC”) will be a non-bypassable charge as 510 provided in RSA 374-F:3 and RSA 369-B:4, IV to recover the portion of PSNH’s Stranded 511 Costs as well as other specified costs and expenses that are allowed by this Agreement. 512 Stranded costs to be recovered through the SCRC will consist of securitized assets and Non- 513 Securitized Stranded Costs, and the net of ongoing expenses and/or revenue requirements 514 (including decommissioning costs) for any generating unit, entitlement or obligation that has 515 not been sold or otherwise divested as of Competition Day. The SCRC will recover the 516 amortization of the assets and the ongoing expenses, and will be reconciled with a return 517 applied at the Stipulated Rate of Return to any overrecoveries or underrecoveries of costs, 518 subject to the provisions of Section V(C), (“Risk Sharing”), except with respect to the RRB 519 Charge, for which reconciliations shall be calculated in accordance with the True-Up 520 Mechanism described in Section XIII. Appendix C shows the estimated balance of the assets 521 as of July 1, 2000, and Appendix D provides an illustrative amortization schedule for the 522 assets. Appendices C and D will be updated as required to reflect additional amortization of 523 and/or prudent capital additions to the listed assets as of Competition Day. 524 525 For the purpose of establishing the SCRC, Stranded Costs will be divided into three 526 parts, as described below. Part 1 will be the RRB Charge, and is the source of payment for 527 Rate Reduction Bonds. Therefore, the right to receive all collections in respect of the Part 1 528 charge will be sold to the Special Purpose Securitization Entity (see Section XIII). Part 1 is 529 expected to be billed until the expected maturity date, which is 12 years from the date of 530 issuance of RRBs, but, in certain circumstances described herein, may be billed until the legal 531 maturity date of the RRBs as described more fully below. Part 2 will continue for as long as 532 there are Stranded Cost expense components in that part for which PSNH is responsible for 533 payment. Part 3 contains other miscellaneous Stranded Costs, and recovery of Part 3 Stranded 534 Costs by PSNH is time bounded and full recovery of such costs is not guaranteed to PSNH. 535 536 The SCRC shall be a non-bypassable charge pursuant to RSA 374-F:3 and RSA 537 Chapter 369-B. All currently existing opportunities shall be continued fo...
Stranded Cost Recovery Charge. The Stranded Cost Recovery Charge (SCRC) is the portion of the unbundled retail delivery service bill that is a non-bypassable charge as provided by RSA 369-B:4,IV and RSA 374-F:3, XII to recover the portion of the Company’s Part 1 and Part 2 Stranded Costs that are allowed by the Settlement Agreement. The SCRC include the RRB Charge defined in RSA Chapter 369-B, over-market or under-market IPP and Power Purchase Agreement costs, Non-Securitized Stranded Costs, and other costs and expenses allowed or as authorized by the Commission.
Stranded Cost Recovery Charge. The Stranded Cost Recovery Charge (SCRC) is the portion of the unbundled retail delivery service xxxx that is a non-bypassable charge as provided by RSA 369-B:4,IV and RSA 374-F:3, XII to recover the portion of the Company’s Part 1 and Part 2 Stranded Costs that are allowed by the Settlement Agreement. The SCRC include the RRB Charge defined in RSA Chapter 369-B, over-market or under-market IPP and Power Purchase Agreement costs, Non-Securitized Stranded Costs, and other costs and expenses allowed or as authorized by the Commission. Part 1 of the SCRC is the RRB Charge, and is the source of payment for Rate Reduction Bonds issued pursuant to RSA Chapter 369-B. One or more special purpose financing entities shall own the right to receive all collections in respect to the Part 1 charge. The Company will collect the RRB Charge in Part 1 of the SCRC on behalf of such special purpose financing entities. The special purpose financing entities’ ownership of the RRB Charge recovered via Part I of the SCRC will be reflected by an appropriate notation on customers’ bills. Part 1 of the SCRC will be billed until the rate reduction bonds issued by the special purpose financing entities and all on- going RRB Costs are paid in full. Part 1 of the SCRC shall be adjusted as necessary via the True-Up mechanism approved by the Commission in its Order No. 26,099 in Docket No. DE 17-096, and such changes in Part 1 shall become effective as set forth in that Order.
