EXHIBIT 10.32
MULTITRADE GROUP AND TULTEX CORPORATION
STEAM AGREEMENT
AGREEMENT between Multitrade Group, Inc., a Virginia
corporation organized and existing under the laws of the Commonwealth of
Virginia (hereinafter referred to as "Multitrade") and Tultex Corporation, a
Virginia corporation with its principal office in Martinsville, Virginia, and
also having a manufacturing facility located on Commonwealth Boulevard in
Martinsville, Virginia (hereinafter referred to as "Purchaser").
WHEREAS, Multitrade is in the process of constructing a
topping cycle co-generation facility capable of generating a minimum of 250,000
pounds of steam per hour for twenty-four hours per day and 15,000 kilowatts of
electrical power for delivery to the City of Martinsville, Virginia.
WHEREAS, in addition to the aforementioned steam generating
facility, Multitrade is in the process of constructing a steam distribution
system capable of supplying certain steam, water and water energy requirements
of the Purchaser at its manufacturing facilities which are located in the City
of Martinsville, Virginia.
WHEREAS, Multitrade's "topping cycle" co-generation facility
will require certain volumes of water to operate the steam turbine condenser,
and Multitrade will purchase necessary volume of water from the City of
Martinsville for use in the co-generation cooling process. Operation of
Multitrade's turbine generator cooling cycle will produce a by-product of heated
water.
WHEREAS, the Purchaser uses hot water in its dye process
division and is desirous of purchasing from Multitrade and Multitrade is
desirous of selling to the Purchaser the aforementioned steam energy, hot water
liquid and energy in the process hot water for use at the Purchaser's facility
located in the City of Martinsville, Virginia.
WHEREAS, the Purchaser is desirous of purchasing from
Multitrade and Multitrade is desirous of producing, transporting and selling to
the Purchaser the aforementioned steam, water and water energy for use at the
Purchaser's fabric manufacturing facility located in the City of Martinsville,
Virginia.
NOW, THEREFORE, in consideration of the foregoing premises and
the mutual agreements hereinafter set forth to be kept and performed, the
parties hereto do agree as follows:
1.1 BTUs Produced. The BTU content in Steam measured
immediately upon the Steam leaving the Multitrade boilers (1460 BTU per pound at
1500 PSI and 950 degrees Fahrenheit).
1.2 BTUs Delivered. The BTU content in Steam measured
immediately upon Steam passing through the Point of Delivery at the Purchaser's
fabric manufacturing facility.
1.3 Process Hot Water. Water purchased from the City of
Martinsville which is used in the turbine generator condenser for cooling
purposes. Process hot water normally will be supplied to the Purchaser at a
maximum of 117 degrees Fahrenheit, however, if the turbine generator is not in
service, such water may be supplied at ambient City water temperature. Such
water has been used in production process and is not suitable or fit for human
consumption.
1.4 Co-Generation Facility. The real property as described in
Exhibit A attached, along with any improvements, fixtures, and equipment located
thereon.
1.5 Condensate. All the non-contaminated water obtained from
condensation of the Steam used by the Purchaser.
1.6 Condensate Meter. The continuous Condensate flow, volume
and temperature measuring device and recorder located at a point between the
Purchaser's Condensate return system and the Facility.
1.7 Contaminated Water. Water or Steam returned by the
Purchaser to Multitrade, the chemical quality and purity of which is
unacceptable to Multitrade, or which would adversely affect Multitrade's
intended use of the water or Steam. Water which exceeds the following parameters
will not be acceptable for use in the Facility:
Parameter Maximum Limit
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Total Hardness Non Detectable
Sodium .1 part per million
Silica .2 parts per million
Conductivity 25 Micromos
Total Iron .05 parts per million
Total Copper .02 parts per million
Total Organic Carbon Non Detectable
pH 8.3 - 9.5 range
1.8 First Delivery. The first time at least 20,000 pounds of
Steam per hour produced by the Co-Generation Facility passes through the Point
of Delivery for one (1) continuous hour.
1.9 Fuel. Any substance with BTU content used to produce
energy to produce Steam.
1.10 Fuel Meter. The continuous Fuel weight measuring devices
and recorders located on the belts and pipes conveying or transporting Fuel to
the boiler.
1.11 Fuel Used. The amount of Fuel crossing the Fuel Meters
and other Fuel used in the production of Steam and electricity.
1.12 Month. The period between Meter readings which shall
approximate a thirty (30) day period.
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1.13 Operating and Maintenance Costs. All direct and indirect
costs associated with the operation and maintenance of the boiler, co-generation
equipment and related support equipment and facilities.
1.14 Operating Year. One-year periods which commence on the
month and day of the First Delivery and each anniversary thereof.
1.15 Point of Delivery. The point on the Purchaser's side of
the Steam Meter at which Steam leaves the Steam Meter.
1.16 Point of Return. The point at which the Condensate leaves
the Condensate Meter and is returned to the Facility.
1.17 Pound of Steam. That amount of Steam derived from one
pound of water.
1.18 Steam. Steam produced by Multitrade for delivery to
Purchaser at the Point of Delivery.
1.19 Steam Meter. The continuous Steam flow, pressure and
recording meter located on the low pressure side of the pressure reducing
station located near the Purchaser's existing steam system.
SECTION 2: CONSTRUCTION OF SYSTEM
2.1 By separate land purchase and right of way agreements,
Multitrade will purchase and/or lease on mutually agreeable terms approximately
eight (8) acres of land to be used as the plant site for the aforesaid boiler
plant. In addition, Multitrade will obtain right of way agreements for
construction of a steam distribution system capable of delivering to the
Purchaser 150,000 pounds of Steam per hour and a Condensate Return System
capable of returning to Multitrade all Steam delivered to the Purchaser in the
form of Condensate.
2.2 Multitrade agrees that upon receipt by it of a bid
acceptable to it for the construction and installation of the aforesaid system,
favorable receipt of permits, and arrangement of financing, it will promptly
notify the Purchaser, in writing, and will purchase, construct and install
necessary improvements including buildings, co-generation facility, distribution
systems and associated facilities at no cost to the Purchaser in order to
produce and deliver Steam energy to the Point of Delivery on the Purchaser's
existing steam header.
2.3 The Purchaser will receive and transport the Steam from
the Point of Delivery and shall purchase, construct, install, maintain and
operate at its own cost and in a timely fashion, all appropriate pipes, lines,
returns, wiring and related appurtenances required for such transport from the
Point of Delivery through Purchaser's fabric manufacturing facility. All such
pipes, lines, returns, wiring and related appurtenances shall remain the
property of Purchaser even after the termination of this Agreement. Multitrade
shall have no ownership interest in and no responsibility to maintain or operate
any of the purchaser's equipment or any equipment beyond the Point of Delivery
and prior to the Point of Return.
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2.4 Multitrade agrees to construct or to have constructed and
to operate said co-generation production system up to the Point of Delivery and
from the Point of Return in accordance with the requirements of all applicable
municipal, state and/or Federal laws, ordinances, regulations and/or
requirements.
2.5 Multitrade will complete the purchase, construction and
installation of the aforementioned co-generation system and place the same in
operation with due diligence, subject only to delays caused by labor or
materials shortages, governmental regulations, strikes and any other
circumstances beyond the reasonable control of Multitrade.
2.6 Multitrade agrees to provide the Purchaser with high
quality Steam (pH 9, plus or minus 0.5, and three parts per million or less
suspended solid carryover) and maintain a suitable totalizing meter showing flow
and pressure (hereinafter the "Steam Meter") located on the low pressure side of
the pressure reducing station. Multitrade agrees to inject into the Steam, to
the reasonable satisfaction of the Purchaser, neutralizing and/or filming amine
to reduce corrosion in the Condensate Return System.
2.7 Multitrade agrees to provide a major portion of the
Purchaser's requirements for process hot water and maintain a suitable meter,
showing both flow and temperature, located within fifty (50) feet of the point
at which Multitrade's process hot water system connects to the Purchaser's
existing process water system.
2.8 Multitrade's use of the Steam produced by it may require
the use of additives in the boiler feedwater or Steam. Multitrade recognizes
that the Steam delivered to the Purchaser will be used in a fabric dyeing
process. Accordingly, Multitrade shall inject only the additives set forth on
Exhibit F into the boiler feedwater, Steam and Condensate. Exhibit F shall be
amended from time to time, upon the agreement of the parties, to reflect changes
in technology, economics and the availability of chemicals. In the event
additives are found in the Steam produced by Multitrade which have not been
approved by the Purchaser, the Purchaser shall promptly notify Multitrade and
request the removal of the additives and Multitrade will be obligated to
discontinue use of such additives within eight (8) hours. The Purchaser shall
have the option to operate its boilers until Steam quality is within the
standards established herein. Nothing herein shall relieve Multitrade of
liability for damages the Purchaser may sustain if Multitrade injects additives
which were not previously approved by the Purchaser.
2.9 Multitrade shall calculate the Purchaser's monthly Steam
and water usage, based on Steam and Water meter readings. The Purchaser will be
entitled to adequate notice and opportunity to have its representative present
at any time the Meter is read, and may inspect the Steam Meter charts at any
time. If there is any dispute as to the Steam Meter's accuracy or condition,
either party may, at its own expense, engage the services of an independent
technician, acceptable to all parties and which acceptance will not unreasonably
be withheld, to test the Steam Meter, and the technician's determination will be
binding on all parties. If the technician determines that the Steam Meter is in
need of repair or replacements, such repair or replacement will be made as soon
as practical at Multitrade's expense. Local representatives of Multitrade and
the Purchaser, by mutual agreement, will determine the amount of Steam furnished
by Multitrade to the Purchaser for any period during which the Steam Meter is
malfunctioning, and
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invoices will be adjusted accordingly. (See Exhibit B - Adjusted Billing Method
for Malfunctioning Steam Meter.)
2.10 Multitrade agrees, at no expense to the Purchaser to have
the Steam, Condensate and Water Meters calibrated by such an independent
technician each 180 calendar days, commencing 180 days from the First Delivery.
A written report of the technician's findings and calibrations will be submitted
to the Purchaser. The initial calibration will be accomplished, at Multitrade's
expense, within ten (10) days of First Delivery.
SECTION 3: TERMS OF PURCHASE AND SALE OF STEAM ENERGY
3.1 The Purchaser agrees to purchase Steam energy from
Multitrade for a period of ten (10) years, commencing on the date of
Multitrade's First Delivery of Steam through the Point of Delivery and ending
ten (10) years thereafter.
3.2 Multitrade will make available to the Purchaser at the
aforementioned Point of Delivery on a daily 24-hour basis at least 150,000
pounds per hour of dry saturated Steam at a maximum of 150 PSIG and a minimum of
125 PSIG (pounds per square inch gauge) during the period of this Agreement. In
the event, during the term of this Agreement, the Purchaser's Steam requirements
exceed the original 150,000 pound per hour capacity, Multitrade agrees to
install additional boiler capacity to provide the additional Steam requirements.
The Purchaser and Multitrade mutually agree to negotiate in good faith to
establish Steam rates which reflect changes in capital, fuel and operational
cost.
3.3 Notwithstanding the other provisions of this Agreement,
the Purchaser will have the right at any time to operate its own boilers;
however, if Purchaser's operation of its own boilers interferes in any way,
directly or indirectly, with Multitrade's ability to deliver Steam to the
Purchaser as provided for in this Agreement, the Purchaser shall nevertheless
remain subject to the minimum purchase requirement set out in Section 4.8
hereof. Notwithstanding the provisions of Section 2.8, Multitrade shall bear no
liability for its failure to deliver any quantity or quality of Steam which
failure results directly or indirectly from the Purchaser's operation of its own
boilers. Further, in the event that the Purchaser operates its own boilers,
Multitrade shall purchase and give credit for Condensate being returned up to
the maximum requirements of the Facility.
3.4 Multitrade reserves the right to sell to others any excess
Steam capacity produced by its initial boiler and by the co-generation Facility
which is over and above the amounts set forth in Section 3.2.
SECTION 4: PAYMENT RATES AND TERMS
4.1 The Purchaser will pay for the Steam energy delivered to
it by Multitrade based on a delivered, unit price per 1,000 pounds of dry
saturated Steam, as set forth in Exhibit C. All Steam costs will be based on the
Steam actually delivered to the Point of Delivery.
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4.2 The monthly rate price which the Purchaser will pay for
Steam energy and Water and water energy will be as indicated in Exhibit C
attached hereto and in paragraph 6.2 hereinafter.
4.3 Multitrade will not purchase any fuels from (a) any
officer or employee of Multitrade or (b) any supplier which is either wholly or
partly owned by any officer or employee of Multitrade without written
authorization signed by a representative of the Purchaser.
4.4 Multitrade agrees to use the most economical mix of fuels
subject to state and Federal air pollution requirements. Multitrade also agrees
to make a good faith and diligent effort to purchase Fuel at competitive prices
and will make available to the Purchaser its records concerning Fuel costs
immediately upon request from the Purchaser. If there is a subsequent increase
or decrease in any of the Fuel prices, the aforementioned rate will be increased
or decreased proportionately to reflect such change at the annual adjustment
spelled out in Exhibit C. Fuel cost is based on input fuel cost at Point of
Delivery.
4.5 The Purchaser agrees to negotiate with Multitrade in the
anniversary month of the First Delivery of each year hereafter for the purpose
of either increasing or decreasing the rate charged for Steam energy in an
effort to recognize any reasonable changes in Multitrade's Operating and
Maintenance Costs. Multitrade agrees to make a good faith and diligent effort to
minimize all such costs. Any new rate agreed upon will become effective the
first of the month subsequent to the day of agreement and will not be
retroactive. Multitrade shall allow Purchaser's personnel access to all records
pertaining to any of its Operating and Maintenance Costs. If no agreement can be
reached within thirty (30) days, differences will be submitted to binding
arbitration per Section 13.
4.6 The Purchaser agrees to negotiate with Multitrade in the
anniversary month of the First Delivery of each year hereafter in the event that
Multitrade's capacity costs increase as a result of changes in government
regulations, rules, tax laws, equipment replacement or specifications and other
items which may result in direct or indirect increased Steam cost for
Multitrade. If no agreement can be reached within thirty (30) days, differences
will be submitted to binding arbitration per Section 13.
4.7 The rate schedule in Exhibit C is based on the premise
that the Purchaser will purchase 510,000,000 Pounds of Steam during an operating
year. Purchases by the Purchaser which exceed 60,000,000 Pounds of Steam in a
Month will be subject to reduced capacity and Operating and Maintenance Costs
per Exhibit C price.
4.8 Except as provided in paragraphs 8.1 and 8.2, the
Purchaser agrees that during the period of this Agreement, it will purchase from
Multitrade the minimum amount of 510,000,000 Pounds of dry saturated Steam per
operating year, so long as such annual quantity of Steam is available to the
Purchaser from Multitrade. If the Purchaser's actual Steam purchases are less
than the minimum amount set forth above and such minimum amount was available, a
capacity charge of $2.20 per thousand Pounds of Steam will be computed and
billed per Exhibit E.
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4.9 The charges for Steam energy, water liquid and energy in
water consumed by Purchaser will be billed monthly to Tultex Corporation by
Multitrade and payments will be due within twenty-five (25) days after receipt
of an invoice substantially in the form of Exhibit D. Multitrade may charge a
three percent (3%) late charge on any xxxx not paid within thirty-five (35)
days. If any xxxx is not paid, including the late charge, within sixty (60)
days, in addition to other remedies which may be available, Multitrade may
discontinue service upon not less than five (5) days written notice to the
Purchaser. No such discontinuance of service shall render Multitrade liable for
damages or relieve the Purchaser from performance of its obligations hereunder
as long as Multitrade is not in material default under this Agreement at the
time service is discontinued and the Purchaser is not reasonably contesting any
unpaid invoice.
SECTION 5: OPERATION OF THE FACILITY
5.1 Multitrade agrees to use diligence to maintain and operate
the co-generation Facility and distribution system in such a manner as to avoid
any unnecessary interruption of service to the Purchaser.
5.2 Multitrade agrees to notify the Purchaser in writing of
its normal operating schedule, start-up and shutdown times and any changes
thereto.
5.3 The Purchaser agrees, at no expense to Multitrade, to make
the necessary provisions within its Steam system to accept Steam from
Multitrade.
SECTION 6: PURCHASE OF WATER AND ENERGY IN HOT WATER
6.1 Multitrade agrees to provide the Purchaser with a maximum
of 2,000,000 gallons per twenty-four hour day of process hot water extracted
from the condenser cooling cycle of the co-generation operation. In the event
the co-generation condenser is not in operation, Multitrade may provide process
water to the Purchaser at ambient City water temperature. Multitrade shall be
relieved of any obligation to provide process water to the Purchaser in the
event of force majeure causes, such as non-availability of water or other events
which prevent or restrict Multitrade's ability to deliver City process water.
6.2 The Purchaser agrees to receive process water on an "as
needed" basis at its sole discretion. The Purchaser will be charged for the
liquid volume of water delivered through the Point of Delivery at a rate per
thousand gallons equal to the rate charged Multitrade by the City of
Martinsville. In addition, the Purchaser will be charged for the heat content of
water delivered based on BTU content on temperature 80 degrees Fahrenheit at a
rate of $2.20 per million BTUs firm price until anniversary annual adjustment.
Subsequent rates will be equal to the "Input Fuel" component rate, established
annually, required to produce 1,000 Pounds of Steam.
SECTION 7: STEAM CONDENSATE RETURN
7.1 Multitrade agrees to install and maintain, at no expense
to the Purchaser, a condensate return system, including but not limited to,
piping, insulation, pump system and
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flow/temperature recorder. The condensate return system and flow/temperature
recorder shall connect to the Purchaser's existing condensate system located in
the Purchaser's existing boiler room at the Point of Return.
7.2 The Purchaser agrees to furnish, at no cost to Multitrade,
adequate electricity to operate a condensate return pump which will be located
on the premises in or near the existing boiler room.
7.3 The Purchaser will be given credit for all Condensate
returned to Multitrade as follows: (a) seventy (70) cents per thousand gallons
of liquid returned in the form of Condensate to remain firm for first year until
anniversary adjustment. Subsequent rates shall be equal to the rate in effect by
the City of Martinsville per thousand gallons of water. (b) Thermal value of
Condensate will be equal to the fuel component of Steam and will be subject to
annual adjustment. Example: 1,000,000 BTUs returned in Condensate will equal
1,000,000 BTUs of Input Fuel. BTUs returned will be calculated using temperature
above 80 degrees Fahrenheit.
SECTION 8: INTERRUPTION OF SERVICE OR OPERATIONS
8.1 Multitrade agrees to give the Purchaser immediate notice
by the fastest means possible of any unplanned interruption of the Steam supply
and to give as much written notice as possible of all planned interruptions of
the Steam supply. Any planned interruption of the Steam supply will be
coordinated with the Purchaser. An annual shutdown is required to comply with
Virginia pressure vessel inspection requirements. In the event of any
interruption of service, planned or otherwise, the annual minimum Steam purchase
required of the Purchaser under paragraph 4.8 will be reduced based on a daily
average minimum usage of 1,397,260 (510,000,000 divided by 365) Pounds of Steam
energy for any day or part of a day Multitrade's Steam generating facility is
not in operation. Should the Steam supply to the Purchaser be interrupted for
any cause beyond Multitrade's control, such interruption will not constitute a
breach of this Agreement, and Multitrade will not be liable to Purchaser for
damages by reasons of any such failure, provided Multitrade makes diligent
efforts to restore normal operation as soon as possible. If Multitrade's
operations are disrupted for 180 consecutive days and Multitrade has failed to
exercise diligent efforts to restore normal operations, the Purchaser may
terminate this Agreement.
8.2 In the event that the Purchaser's operations are
interrupted by fire, acts of God, riots, civil disorders, war, curtailment of
primary utilities, work stoppages, or other similar events beyond the control of
the Purchaser, the Purchaser shall be liable to Multitrade for those losses
sustained by Multitrade in excess of monies received under its Business
Interruption Insurance policy. The Purchaser agrees to make diligent efforts
within its means to restore normal operations as swiftly as possible.
8.3 In the event either party desires to obtain business
interruption insurance for its respective facility, each agrees, upon reasonable
written notice, to permit inspection of its facilities by representatives of the
insurance company during reasonable working hours.
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SECTION 9: OBLIGATION FOR PERFORMANCE UNDER THIS AGREEMENT
Multitrade shall remain responsible to the Purchaser for the
performance of its obligations under this Agreement even though Multitrade may
have contracted with a third party for performance of all or part of its
obligations.
SECTION 10: COMPLIANCE WITH LAWS, ORDINANCES OR REGULATIONS
Compliance with all present and future local, state or Federal
laws, ordinances or regulations related to air quality, odor, noise, waste water
disposal, solid waste disposal, boiler inspection, or other conditions for the
protection of the environment, or otherwise, which may apply to Multitrade's
boiler plant operations remain the sole responsibility of Multitrade.
Multitrade will indemnify and save Tultex harmless against any
loss or liability it may incur by reason of the failure or refusal of Multitrade
to comply with all such laws, ordinances or regulations.
SECTION 11: AMENDMENT OF AGREEMENT
This Agreement contains the entire understanding of the
Parties and supersedes all prior negotiations and oral understandings, if any,
and may not be amended, supplemented or modified except by written instrument
signed by both parties hereto.
SECTION 12: RENEWAL
12.1 Either party wishing to negotiate for a renewal of this
Agreement must notify the other in writing of its desire to so negotiate on or
before the completion of the eighth (8th) operating year.
12.2 Upon receipt of notice as set forth in paragraph 12.1,
Multitrade and Purchaser mutually agree to negotiate in good faith with respect
to contract renewal. Multitrade agrees to give fair and equitable consideration
to any operating and maintenance, input fuel or other direct or indirect cost
items which result in decreasing the cost to it of producing Steam. The
Purchaser and Multitrade agree to give fair and equitable consideration to cost
increases and decreases resulting from changes in government regulations, rules,
tax laws, equipment replacement or specifications and other items which may
result in direct or indirect increased Steam cost for Multitrade.
12.3 Neither party will be obligated to renew this Agreement
beyond the initial ten (10) year period, except upon mutually agreed upon terms
and conditions in writing with respect to any such additional period. Provided
neither party is in default, and both parties indicate in writing their desire
to continue, this Agreement shall remain in effect beyond the initial ten (10)
year period with either party having the right to terminate the Agreement upon
two years' written notice.
12.4 Should Multitrade desire to terminate this Agreement at
any time after the initial ten year period, then Multitrade grants to Purchaser
an option to purchase the original
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Steam producing facility and Steam distribution system and any applicable
operating permits and similar documents pertaining to the operation of the Steam
production and distribution facility. The sale price for this purchase shall be
mutually agreed upon between Tultex Corporation and Multitrade.
12.5 If the parties are unable to agree upon the sale price,
both parties shall at their own cost secure the services of an independent and
qualified appraiser. If, within thirty (30) days, subsequent to receipt of
appraisal, the parties are unable to reach agreement, differences shall be
submitted to binding arbitration per Section 13.
SECTION 13: ARBITRATION
Any controversy or claim arising out of or relating to this
Agreement or the breach thereof shall be settled by arbitration in accordance
with the Rules of American Arbitration Association and judgment upon the award
rendered by the arbitration may be entered in any court having jurisdiction.
Such arbitration shall be held in Martinsville, Virginia, or other city in the
Commonwealth of Virginia.
SECTION 14: ASSIGNMENT
This Agreement will be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns to which this
Agreement relates.
SECTION 15: NOTICE
Wherever in this Agreement it shall be required or permitted
that notice be given in writing, such notice shall be served by mail addressed
as follows:
To Multitrade: B. Xxxxxx Xxxxxxx, President
Multitrade Group, Inc.
X.X. Xxx 000
Xxxxxxxx, XX 00000
To Tultex Corporation: Xxxxx Xxxxxxx
Vice President
Tultex Corporation
X.X. Xxx 0000
Xxxxxxxxxxxx, XX 00000
Such addresses and personnel designations may be changed from
time to time by either party by serving written notice as provided above.
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IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be duly executed as of the 11th day of August 1987.
MULTITRADE GROUP, INC.
ATTEST:
By: /s/ B. E. Brammer
/s/ ---------------------------
----------------------------------- Its President
Secretary
MULTITRADE GROUP, INC.
ATTEST:
By: /s/ X.X. Xxxxxxx
/s/ ----------------------------
------------------------------------ Its Vice President
Secretary
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EXHIBIT A
Facility Description
The facility will consist of one 250,000 pound per hour Xxxxx
boiler with a traveling grate xxxxxx. Power will be generated by a steam driven
turbine generator set capable of producing a minimum of 15 megawatts per hour.
Necessary electrical switchgear, wiring, and piping shall be
provided to interconnect equipment as required to make the equipment function.
The Facility shall include air compressors, water treatment
equipment, pollution control equipment in the form of electrostatic
precipitators and SO2 scrubber, pumps, and ash removal equipment as required to
operate in accordance with applicable regulations now in force.
The Facility shall have a wood fuel storage and handling area
consisting of truck scales, trailer dump, live bottom wood bin, wood day bin and
necessary wood conveyors and screws to inject the wood fuel into the boiler.
A coal fuel handling system shall be provided including a
700-ton storage silo, coal belt and bucket elevator and coal day bunker.
The boiler and turbine generator shall be housed in a
metal-sided steel structure set on concrete foundation designed to support the
weight of the equipment and structure.
Necessary steam and condensate piping shall be maintained with
energy efficient insulation to deliver steam to the Point of Delivery and
receive condensate and transport condensate from Purchaser to the Facility.
Necessary equipment such as switchgear and transformers shall be provided to
deliver power produced at the Facility to the electric customer's service
connection.
Necessary pumps, piping and vessels shall be provided to
deliver 2,000,000 gallons of hot process water per day extracted from the
cooling cycle of the turbine generator condenser.
EXHIBIT B
Method of Adjusting Steam Invoice
To Compensate for Malfunctioning Steam Meter
(No Adjustment for one percent plus or minus of correct reading.)
STEP 1. Determine percentage meter error, either plus or minus, from
calibration by independent technician.
STEP 2. Total the volume of steam purchased by the Purchaser from the
time of previous calibration to the time the meter was
determined to be inaccurate. Example: If an October
calibration indicated meter was 2% in error-total steam usage
from previous calibration through the month of October.
STEP 3. Multiply the total steam consumed by the Purchaser (the sum of
STEP 2) by the percentage of meter error, less the one percent
plus or minus dead band.
STEP 4. Determine the average sale price of steam to Purchaser during
the period in question.
STEP 5. Multiply the product of STEP 3 by the average price determined
in STEP 4.
STEP 6. Multiply the product of STEP 5 by 50% and the result equals
the total credit or debit.
EXAMPLE:
September, 1985, calibration indicated three percent "plus" steam reading.
Previous calibration accomplished March, 1985.
STEP 1. Plus three percent (3%) meter reading
STEP 2. 34,495,000 Sept. 1985
36,257,200 Aug. 1985
27,172,400 July, 1985
35,243,659 June, 1985
39,148,699 May, 1985
35,248,489 April, 1985
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207,665,647 Total Lbs.
STEP 3. Sum of STEP 2: 207,665,647
Total from STEP 1
Less 1% Dead Band: x 2% (3% error - 1% Dead)
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4,153,313 Lbs.
STEP 4. Average Price for Steam:
$ 5.40 Sept. 1985
5.49 Aug. 1985
5.55 July 1985
5.47 June 1985
5.37 May 1985
5.43 April 1985
------
$32.71 divided by 6 = $5.45 avg. price per 1000 lbs.
STEP 5. Product of STEP 3: 4,153,313 Lbs.
Total from STEP 4: x $5.45 per MLbs.
----------
$22,635.56
STEP 6. Product of STEP 5: $22,635.56
x 50%
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($11,317.78) Net (credit) or debit
EXHIBIT C
TULTEX MONTHLY STEAM VOLUME DISCOUNT RATES
Gross Pounds 20,000,001 25,000,001 30,000,001 35,000,001
Monthly Steam 0-20 to to to to
Delivered Mil Lbs 25,000,000 30,000,000 35,000,000 40,000,000
--------- ------- ---------- ---------- ---------- ----------
Fuel $2.32 $2.32 $2.32 $2.32 $2.32
O&M 4.13 1.84 1.50 1.27 1.10
Capacity 2.20 2.20 2.20 2.20 2.20
----- ----- ----- ----- -----
Total Steam
Billing Rate $5.65 $6.36 $6.02 $5.79 $5.62
Gross Pounds 40,000,001 45,000,001 50,000,001 55,000,001 60,000,001
Monthly Steam to to to to and
Delivered 45,000,000 50,000,000 55,000,000 60,000,000 Above
--------- ---------- ---------- ---------- ---------- -----
Fuel $2.32 $2.32 $2.32 $2.32 $2.32
X&X .00 .00 .00 .00 .00
Xxxxxxxx 2.20 2.20 2.20 2.20 2.20*
----- ----- ----- ----- ------
Total Steam
Billing Rate $5.49 $5.39 $5.31 $5.31 $5.11
*Capacity charge on the portion of steam used in excess of 60,000,000 pounds in
a single month will be $1.10.
ESCALATION OF STEAM RATE
1. Capacity Cost: Fixed 10 operating years at $2.20 per
thousand pounds for steam delivered in
excess of 60,000,000 pounds.
2. Operating and Maintenance Cost: Fixed one year re-negotiable based on
reality cost changes. Negotiations to be
held in the anniversary month of the first
steam delivery to Tultex. If no agreement
is reached within 30 days, submitted to
binding arbitration.
3. Fuel Cost: Fixed one year. Re-negotiable based on
relative cost changes. Negotiations to be
held in the anniversary month of the first
steam delivery to Tultex. If no agreement
is reached within 30 days, submitted to
binding arbitration.
EXHIBIT D
Multitrade Group, Inc.
Tultex Corporation
X.X. Xxx 0000
Xxxxxxxxxxxx, XX 00000
Invoice No.: 001 - Sample
Billing Period: December, 1986 - Sample
Steam Delivered less than 60,000,000 lbs. = 59,999,999 x 5.11 = $306,599.99
Steam Delivered in excess of 60,000,000 lbs. = 10,000,000 x 4.11 = 41,100.00
Gross Steam Delivered = 69,999,999 = $347,699.99
Condensate Returned Credits:
4,000,000 gal liquid @ .75/MGal = ($3,000.00)
33,320,000 lbs @ 200 F = 3,998,400,000 BTU @ 2.20/MBTU = ($8,795.60)
NET DUE = $335,904.39
Terms: Net Due 25th
EXHIBIT E
Sample Annual Invoice
Tultex Corporation
X.X. Xxx 0000
Xxxxxxxxxxxx, XX 00000
Invoice No.: _____
From to
Minimum Gross Lbs. Steam Contract: 510,000,000
Gross Steam Delivered: 500,000,000
Sub-Total: 10,000,000
Credit 3
down days (if any) @ 1,397,200/ day: (4,191,780)
Sub-Total: 5,808,220
Fixed Capacity Charge Rate: x 2.20
Net Due $12,778.08
Terms: Net Due Upon Receipt
EXHIBIT F
The following are mutually accepted additives to be injected in Steam
or Condensate produced in Multitrade's energy conversion facility:
Cooling Tower: Nalco #8367 Scale Control
Nalco #7343 Bacteria Control
Nalco #7348 Dispersant
To Boiler: Nalco Sungard 1700 Oxygen Control Feedwater
Nalco #7209 Scale Control
Nalco #7200 Dispersant
Steam Main: Nalco #1810 to Condensate for pH control
Components listed may be changed, added, or deleted as
desirable by mutually accepted written agreement signed by an officer of
Multitrade and Tultex Corporation's Division Engineer.
AMENDMENT TO AGREEMENT
AMENDMENT TO AGREEMENT made and executed as of the 17th day of
August, 1987, by and between MULTITRADE GROUP, INC., a corporation organized and
existing under the laws of the Commonwealth of Virginia (hereinafter referred to
as "Multitrade"), and TULTEX CORPORATION, a corporation organized and existing
under the laws of the Commonwealth of Virginia, having a manufacturing facility
located on Commonwealth Boulevard in Martinsville, Virginia (hereinafter
referred to as "Purchaser"), and MULTITRADE OF MARTINSVILLE, INC., a corporation
organized and existing under the laws of the Commonwealth of Virginia
(hereinafter referred to as "Assignee").
WHEREAS, Multitrade and Purchaser entered into an Agreement
pertaining to the construction and operation by Multitrade of a topping cycle
cogeneration facility (the "Project") producing certain quantities of steam and
electrical power, and the distribution and sale of certain steam and hot water
to the Purchaser; and
WHEREAS, Multitrade anticipates the receipt of a permit to construct
and operate that portion of the Project comprised of the steam generating
facility and distribution system by August 1, 1987, but it appears that the
regulatory agency's approval process and the subsequent construction of the
electrical generation facility may be delayed or even prevented in its entirety
thus also delaying or preventing the production of hot water as a by-product of
the electrical generation process; and
WHEREAS, the parties hereto desire to amend the original Agreement
in anticipation of the probable delay and possible abandonment of that portion
of the Project resulting in the production of process hot water; and
WHEREAS, Multitrade wishes to assign its rights and responsibilities
to Assignee, and Assignee wishes to accept and assume the same, and Purchaser
has no objection thereto;
NOW, THEREFORE, WITNESSETH: That for and in consideration of the
foregoing premises and mutual agreements hereinafter set forth to be kept and
performed, the parties hereto do agree that the aforesaid Agreement shall be
amended as follows:
1. That it is understood and agreed that the sale to the Purchaser
of Process Hot Water and the energy contained therein produced by the Multitrade
turbine generator will be delayed until such time as Multitrade is able to
obtain the necessary permits and thereafter construct the electrical generating
portion of the Project, and in the event that Multitrade, in its discretion,
deems it economically or otherwise infeasible to complete that portion of the
Project, then it shall so notify the Purchaser.
Multitrade, until such time as the electrical generation portion of
the Facility is placed in service, or during the full term of this Agreement in
the event Multitrade is unable to place the turbine generator in service, shall
supply the Purchaser the volume of process hot water and at the temperature
spelled out in Paragraphs 1.3 and 6.1. Multitrade will use Steam discharged from
turbine driven fans and pumps used in the facility operation as the primary
source of energy to increase the temperature of the water. In the event energy
in the Steam discharged from the fan and pump turbines is not adequate to
increase the water temperature to 117 degrees Fahrenheit, Multitrade will use
Steam from the boiler steam header to bring the water temperature to 117 degrees
Fahrenheit.
Multitrade also agrees, at its expense, to install and operate a
heat exchanger that is capable of providing water to the Purchaser at the
Delivery Point at 180 degrees Fahrenheit.
The Purchaser agrees to pay Multitrade monthly for all Process Hot
Water delivered and metered through the Point of Delivery by the following
schedule:
A. Liquid Value: equal to the rate in effect charged Multitrade by
the City of Martinsville, Virginia. The rate may be changed any time
during the term of this Agreement to remain commensurate with the City of
Martinsville's water and sewer rate.
B. Thermal Value of first 117 degrees Fahrenheit at 3.20 per million
BTU delivered and metered through the Point of Delivery. The thermal value
will be subject to annual adjustment and will remain $1.00 per million BTU
higher than the Energy Rate in effect for Steam. In the event the turbine
generator is placed in service, the thermal value will be equal to the
Energy Rate in effect for Steam.
C. Thermal Value for temperature in process hot water which exceeds
117 degrees Fahrenheit: will be invoiced by determining Steam equivalent
and adding the Steam equivalent to the total Steam purchased during the
Month, measured through the Point of Delivery, as in the following
example:
EXAMPLE - ESTIMATED MONTHLY XXXX
--------------------------------
Steam: 50,000,000 Lbs/Month
Water: 30,000,000 Gal. x 8.33 Gal. per Lb = 249,900,000 Lb/Mo
Water Temp: 180(0) F
LIQUID VALUE OF WATER:
30,000,000 Gal. x $1.50/1000 Gal. water sewer = $45,000.00
THERMAL VALUE OF WATER TO 117 DEGREES FAHRENHEIT:
249,900,000 Lb/Mo x 37 BTU/Lb = 9,246,300,000 BTU/Mo
9,246,300,000 ($3.20/10 BTU/Lb) = $29,588.16
STEAM EQUIVALENT OF HOT WATER ABOVE 117 DEGREES FAHRENHEIT:
249,900,000 Lb/Mo x 63 BTU/Lb = 15,743,700,000 BTUs
15,743,700,000 + 1200 BTU/Lb Steam = 13,119,750 Lb Steam
50,000,000 + 13,119,750 = 63,119,750 Lb Steam/Mo times
2
63,119,750 x $5.11/1000 Lb Steam = $322,541.92
+ 29,588.16
-----------
$352,130.08
less $1.00 per thousand lbs capacity credit
for
Steam purchases over 60 Million Lb/Mo - 3,119.75
-----------
$349,010.33
less credit for Thermal and Liquid Value
of Condensate -( )
-----------
2. Multitrade hereby assigns and transfers and Assignee hereby
accepts and assumes all rights and responsibilities of Multitrade in connection
with or related to the Agreement with Purchaser, and Purchaser hereby indicates
its approval of such assignment and releases Multitrade from any and all
responsibilities or liabilities which have now or might in the future arise as a
direct or indirect result of said Agreement.
3. Except to the extent set forth hereinabove, all other terms,
conditions and provisions of the aforesaid Agreement shall remain in full force
and effect.
3
IN WITNESS WHEREOF, the parties hereto have hereunto caused these
presents to be duly executed as of the day and year first above written.
ATTEST: MULTITRADE GROUP, INC.
/s/ By: /s/ B.E. Brammer
------------------------------------ ----------------------------------
Secretary President
ATTEST: TULTEX CORPORATION
/s/ By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------ ----------------------------------
Secretary Vice President- Operations
ATTEST: MULTITRADE OF MARTINSVILLE, INC.
/s/ By: /s/ B.E. Brammer
------------------------------------ ----------------------------------
Secretary President
4
SECOND AMENDMENT TO AGREEMENT, made and executed in multiple
counterparts as of the 28th day of February, 1989, by and between MULTITRADE
GROUP, INC., a corporation organized and existing under the laws of the
Commonwealth of Virginia (hereinafter referred to as "Multitrade"), TULTEX
CORPORATION, a corporation organized and existing under the laws of the
Commonwealth of Virginia, having a manufacturing facility located on
Commonwealth Boulevard in Martinsville, Virginia (hereinafter referred to as
"Purchaser") and MULTITRADE OF MARTINSVILLE, INC., a corporation organized and
existing under the laws of the Commonwealth of Virginia (hereinafter referred to
as "Assignee").
WHEREAS, Multitrade and Purchaser entered into an Agreement
pertaining to the construction and operation by Multitrade of a topping cycle
cogeneration facility producing certain quantities of steam and electrical
power, and the distribution and sale of certain steam and hot water to the
Purchaser; and
WHEREAS, on August 17, 1987, the parties hereto executed an
Amendment to Agreement and by this Second Supplement wish to amend the original
Agreement again;
NOW, THEREFORE, WITNESSETH: For and in consideration of the
foregoing premises and mutual agreements hereinafter set forth, the parties
hereto do agree that the aforesaid Agreement shall be amended as follows:
1. That Exhibit C to the original Agreement between Multitrade and
Purchaser be amended in accordance with "Exhibit C, Rev. #3, Effective March 1,
1989," a copy of which is attached hereto as Exhibit C. This amended Exhibit C
shall have become effective March 1, 1989, and remain in full force and effect
for a period of one year, or until February 28, 1990.
2. Except to the extent set forth hereinabove, all other terms,
conditions and provisions of the aforesaid Agreement and Amendment to Agreement
shall remain in full force and effect.
2
IN WITNESS WHEREOF, the parties hereto have hereunto caused these
presents to be duly executed as of the day and year first above written.
ATTEST: MULTITRADE GROUP, INC.
/s/ By: /s/ B.E. Brammer
------------------------------------ ----------------------------------
Secretary President
ATTEST: TULTEX CORPORATION
/s/ By: /s/
------------------------------------ ----------------------------------
Secretary President
ATTEST: MULTITRADE OF MARTINSVILLE, INC.
/s/ By: /s/ B.E. Brammer
------------------------------------ ----------------------------------
Secretary President
3
THIRD AMENDMENT TO AGREEMENT, made and executed in multiple
counterparts as of the 15th day of May, 1990, by and between MULTITRADE GROUP,
INC., a corporation organized and existing under the laws of the Commonwealth of
Virginia (hereinafter referred to as "Multitrade"), TULTEX CORPORATION, a
corporation organized and existing under the laws of the Commonwealth of
Virginia, having a manufacturing facility located on Commonwealth Boulevard in
Martinsville, Virginia (hereinafter referred to as "Purchaser") and MULTITRADE
OF MARTINSVILLE, INC., a corporation organized and existing under the laws of
the Commonwealth of Virginia (hereinafter referred to as "Assignee").
WHEREAS, Multitrade and Purchaser entered into an Agreement
pertaining to the construction and operation by Multitrade of a topping cycle
cogeneration facility producing certain quantities of steam and electrical
power, and the distribution and sale of certain steam and hot water to the
Purchaser; and
WHEREAS, on August 17, 1987, and February 28, 1989, the parties
hereto executed an Amendment to Agreement and by this Third Supplement wish to
amend the original Agreement again;
NOW, THEREFORE, WITNESSETH: For and in consideration of the
foregoing premises and mutual agreements hereinafter set forth, the parties
hereto do agree that the aforesaid Agreement shall be amended as follows:
1. That Exhibit C to the original Agreement between Multitrade and
Purchaser be amended in accordance with "Exhibit C, Rev. #4, Effective March 1,
1990," a copy of which
is attached hereto as Exhibit C. This amended Exhibit C shall have become
effective March 1, 1990, and remain in full force and effect for a period of one
year, or until February 28, 1991.
2. Except to the extent set forth hereinabove, all other terms,
conditions and provisions of the aforesaid Agreement and Amendment to Agreement
shall remain in full force and effect.
2
IN WITNESS WHEREOF, the parties hereto have hereunto caused these
presents to be duly executed as of the day and year first above written.
ATTEST: MULTITRADE GROUP, INC.
/s/ By: /s/ B.E. Brammer
------------------------------------ ----------------------------------
Secretary President
ATTEST: TULTEX CORPORATION
/s/ By: /s/
------------------------------------ ----------------------------------
Secretary President
ATTEST: MULTITRADE OF MARTINSVILLE, INC.
/s/ By: /s/ B.E. Brammer
------------------------------------ ----------------------------------
Secretary President
3
THIS FOURTH AMENDMENT TO AGREEMENT, made and executed in multiple
counterparts as of the 8th day of June, 1993, by and between MULTITRADE GROUP,
INC., a corporation organized and existing under the laws of the Commonwealth of
Virginia (hereinafter referred to as "Multitrade"), TULTEX CORPORATION, a
corporation organized and existing under the laws of the Commonwealth of
Virginia, having a manufacturing facility located on Commonwealth Boulevard in
Martinsville, Virginia (hereinafter referred to as "Purchaser"), and MULTITRADE
OF MARTINSVILLE, INC., a corporation organized and existing under the laws of
the Commonwealth of Virginia (hereinafter referred to as "Assignee").
WHEREAS, Multitrade and Purchaser entered into an agreement
pertaining to the construction and operation by Multitrade of a topping cycle
cogeneration facility producing certain quantities of steam and electrical power
and the distribution and sale of certain steam and hot water to the Purchaser
(hereinafter referred to as the "Agreement"); and
WHEREAS, on August 17, 1987, February 28, 1989, and May 15, 1990,
the parties hereto executed Amendments to the aforesaid Agreement and by this
Fourth Amendment to Agreement wish to amend the original Agreement again;
NOW, THEREFORE, WITNESSETH: That for and in consideration of the
foregoing premises and the mutual covenants, promises and agreements herein
contained and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree that the
aforesaid Agreement shall be amended again as follows:
1. That the original term of the existing steam Agreement between
the parties shall be extended for an additional two years, until May 1, 2000,
with the following additional changes:
(1) The capacity portion of the steam rate will be reduced to $1.10
per thousand pounds for the additional two-year term, with the capacity
rate remaining fixed at $2.20 for the initial term of the existing
Agreement;
(2) The minimum steam purchase requirement will be deleted for the
additional two-year term, although the Purchaser agrees to purchase one
hundred percent (100%) of its entire steam requirement from Multitrade
during such additional two-year term.
2. Except to the extent set forth hereinabove, all of the terms,
conditions and provisions of the aforesaid Agreement, as previously amended,
shall remain in full force and effect.
2
IN WITNESS WHEREOF, the parties hereto have caused these presents to
be duly executed as of the day and year first above written.
MULTITRADE GROUP, INC.
By: /s/ B.E. Brammer
---------------------------------
TULTEX CORPORATION
By: /s/ X.X. Xxxxxx
---------------------------------
MULTITRADE OF MARTINSVILLE, INC.
By: /s/ B.E. Brammer
---------------------------------
COMMONWEALTH OF VIRGINIA,
CITY OF MARTINSVILLE, TO-WIT:
The foregoing was acknowledged before me this 5th day of May,
1993, by B. E. Brammer, the President of Multitrade Group, Inc.
My Commission expires: March 31, 1994
/s/
----------------------------------
NOTARY PUBLIC
3
COMMONWEALTH OF VIRGINIA,
CITY OF MARTINSVILLE, TO-WIT:
The foregoing was acknowledged before me this 5th day of May, 1993,
by _______________________, the _________________ of Tultex Corporation.
My Commission expires: _________________
__________________________________
NOTARY PUBLIC
COMMONWEALTH OF VIRGINIA,
CITY OF MARTINSVILLE, TO-WIT:
The foregoing was acknowledged before me this 5th day of May,
1993, by B. E. Brammer, the President of Multitrade of Martinsville, Inc.
My Commission expires: March 31, 1994
/s/
----------------------------------
NOTARY PUBLIC
4
THIS FIFTH AMENDMENT TO AGREEMENT, made and executed in multiple
counterparts as of the 1st day of June, 1997, by and between MULTITRADE GROUP,
INC., a corporation organized and existing under the laws of the Commonwealth of
Virginia (hereinafter referred to as "Multitrade"), TULTEX CORPORATION, a
corporation organized and existing under the laws of the Commonwealth of
Virginia, having a manufacturing facility located on Commonwealth Boulevard in
Martinsville, Virginia (hereinafter referred to as "Purchaser"), and MULTITRADE
OF MARTINSVILLE, INC., a corporation organized and existing under the laws of
the Commonwealth of Virginia (hereinafter referred to as "Assignee").
WHEREAS, Multitrade and Purchaser entered into an agreement
pertaining to the construction and operation by Multitrade of a topping cycle
cogeneration facility producing certain quantities of steam and electrical power
and the distribution and sale of certain steam and hot water to the Purchaser
(hereinafter referred to as the "Agreement"); and
WHEREAS, on August 17, 1987, February 28, 1989, May 15, 1990, and
June 8, 1993, the parties hereto executed Amendments to the aforesaid Agreement
and by this Fifth Amendment to Agreement wish to amend the original Agreement
again;
NOW, THEREFORE, WITNESSETH: That for and in consideration of the
foregoing premises and the mutual covenants, promises and agreements herein
contained and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree that the
aforesaid Agreement shall be amended again as follows:
1. That the term of the existing steam Agreement between the parties
as amended shall be extended for an additional three (3) years, until midnight
on April 30, 2003, with the following additional changes:
(1) The following rates shall apply for steam purchased in the time
period indicated:
TIME PERIOD RATE SCHEDULE
----------- -------------
June 1, 1997 - April 30, 1998 See "Exhibit 1 - Tultex Rate Schedule" attached hereto
May 1, 1998 - April 30, 1999 See "Exhibit 2 - Tultex Rate Schedule" attached hereto
May 1, 1999 - April 30, 2000 See "Exhibit 3 - Tultex Rate Schedule" attached hereto
May 1, 2000 - April 30, 2003 See "Exhibit 4 - Tultex Rate Schedule" attached hereto
(2) Adding a new subparagraph 4.10, to read as follows:
"Other provisions of this Agreement to the contrary
notwithstanding, either Multitrade, Assignee or Tultex may at
any time after August 1, 2000, give notice to the other
parties of its desire for a review of the steam rates set
forth herein to determine if a gross inequity exists therein
with respect to either party. In determining whether such a
gross inequity exists, consideration shall be given, but not
limited, to the cost reasonably incurred by Multitrade or
Assignee in producing steam hereunder, the value thereof, and
the respective financial obligations of Tultex and Multitrade
or Assignee incurred in connection with fuel and operation and
maintenance and delivery. If such review demonstrates that a
gross inequity exists with respect to either party, the
increases and decreases in the steam rate shall be changed for
subsequent deliveries of steam to eliminate such inequity. The
price adjustment to be made pursuant to this section and
become effective immediately and will be intended to provide
Multitrade or Assignee and Tultex, over the remaining term of
this Agreement, with protection against changes in price
levels of cost and expense items which are reasonably required
for the performance of this Agreement and, in addition, to
preserve the financial positions of Tultex, Multitrade and
Assignee against substantial changes in the purchasing power
of the dollar or in the cost of producing and delivering steam
to Tultex."
2
2. Except to the extent set forth hereinabove, all of the terms,
conditions and provisions of the aforesaid Agreement as previously amended,
shall remain in full force and effect.
3
IN WITNESS WHEREOF, the parties hereto have caused these presents to
be duly executed as of the day and year first above written.
MULTITRADE GROUP, INC.
By: /s/ B.E. Brammer
--------------------------------------
TULTEX CORPORATION
By: /s/ Xxxxxxx X. Xxxxxx
--------------------------------------
MULTITRADE OF MARTINSVILLE, INC.
By: /s/ B.E. Brammer
--------------------------------------
4
COMMONWEALTH OF VIRGINIA,
CITY OF MARTINSVILLE, TO-WIT:
The foregoing was acknowledged before me this 22nd day of July,
1997, by B. E. Brammer, the CEO of Multitrade Group, Inc.
My Commission expires: 3/31/98
/s/
----------------------------------
NOTARY PUBLIC
COMMONWEALTH OF VIRGINIA,
CITY OF MARTINSVILLE, TO-WIT:
The foregoing was acknowledged before me this 4th day of
August, 1997, by Xxxxxxx X. Xxxxxx, the CEO of Tultex Corporation.
My Commission expires: 07/31/98
/s/
----------------------------------
NOTARY PUBLIC
COMMONWEALTH OF VIRGINIA,
CITY OF MARTINSVILLE, TO-WIT:
The foregoing was acknowledged before me this 22nd day of July,
1997, by B. E. Brammer, the CEO of Multitrade of Martinsville, Inc.
My Commission expires: 3/31/98
/s/
----------------------------------
NOTARY PUBLIC
5
EXHIBIT 1
TULTEX RATE SCHEDULE
MONTHLY DISCOUNT SCHEDULE
Effective Period: June 1, 1997 thru April 30, 1998
ANNUAL STEAM 12,000,000 36,000,000 60,000,000 84,000,000 108,000,000 132,000,000 156,000,000 180,000,000 204,000,000 228,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 0 2,000,001 4,000,001 6,000,001 8,000,001 10,000,001 12,000,001 14,000,001 16,000,001 18,000,001
to to to to to to to to to to
2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 20,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $98.33 $32.78 $19.67 $14.05 $10.93 $8.94 $7.56 $6.56 $5.78 $5.18
Capacity $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $102.18 $36.63 $23.52 $17.90 $14.78 $12.79 $11.41 $10.41 $9.63 $9.03
====================================================================================================================================
ANNUAL STEAM 252,000,000 276,000,000 300,000,000 324,000,000 348,000,000 372,000,000 396,000,000 420,000,000 444,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 20,000,001 22,000,001 24,000,001 26,000,001 28,000,001 30,000,001 32,000,001 34,000,001 36,000,001
to to to to to to to to to
22,000,000 24,000,000 26,000,000 28,000,000 30,000,000 32,000,000 34,000,000 36,000,000 38,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $4.68 $4.28 $3.93 $3.64 $3.39 $3.17 $2.98 $2.81 $2.66
Capacity $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $8.53 $8.13 $7.78 $7.49 $7.24 $7.02 $6.83 $6.66 $6.51
====================================================================================================================================
ANNUAL STEAM 468,000,000 492,000,000 516,000,000 540,000,000 564,000,000 588,000,000 612,000,000 636,000,000 660,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 38,000,001 40,000,001 42,000,001 44,000,001 46,000,001 48,000,001 50,000,001 52,000,001 54,000,001
to to to to to to to to to
40,000,000 42,000,000 44,000,000 46,000,000 48,000,000 50,000,000 52,000,000 54,000,000 56,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $2.52 $2.40 $2.29 $2.19 $2.09 $2.01 $1.93 $1.86 $2.79
Capacity $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $6.37 $6.25 $6.14 $6.04 $5.94 $5.86 $5.78 $5.71 $5.64
====================================================================================================================================
Thermal Credit for Condensate: $1.76 per Mil Btu's
Liquid Credit for Condensate: $0.75 per thousand gallons
07/14/97
1
Effective Period: June 1, 1997 thru April 30, 1998
ANNUAL STEAM 684,000,000 708,000,000 732,000,000 756,000,000 780,000,000 804,000,000 828,000,000 852,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 56,000,001 58,000,001 60,000,001 62,000,001 64,000,001 66,000,001 68,000,001 70,000,001
to to to to to to to to
58,000,000 60,000,000 62,000,000 64,000,000 66,000,000 68,000,000 70,000,000 72,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $1.73 $1.67 $1.61 $1.56 $1.51 $1.47 $1.43 $1.38
Capacity $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $5.58 $5.52 $5.46 $5.41 $5.36 $5.32 $5.28 $5.23
====================================================================================================================================
ANNUAL STEAM 876,000,000 900,000,000 924,000,000 948,000,000 972,000,000 996,000,000 1,202,000,000 1,044,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 72,000,001 74,000,001 76,000,001 78,000,001 80,000,001 82,000,001 84,000,001 86,000,001
to to to to to to to to
74,000,000 76,000,000 78,000,000 80,000,000 82,000,000 84,000,000 86,000,000 88,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.20 $2.20 $2.20 $2.20 $2.29 $2.35 $2.40 $2.45
O&M $1.35 $1.31 $1.28 $1.24 $1.21 $1.18 $1.16 $1.13
Capacity $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $5.20 $5.16 $5.13 $5.09 $5.15 $5.18 $5.21 $5.23
====================================================================================================================================
ANNUAL STEAM 1,068,000,000 1,092,000,000 1,116,000,000 1,140,000,000 1,168,000,000 1,188,000,000 1,212,000,000 1,236,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 88,000,001 90,000,001 92,000,001 94,000,001 96,000,001 98,000,001 100,000,001 102,000,001
to to to to to to to and above
90,000,000 92,000,000 94,000,000 96,000,000 98,000,000 100,000,000 102,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.50 $2.55 $2.60 $2.64 $2.68 $2.72 $2.76 $2.80
O&M $1.10 $1.08 $1.06 $1.04 $1.01 $0.99 $0.97 $0.95
Capacity $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65 $1.65
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $5.25 $5.28 $5.31 $5.33 $5.34 $5.36 $5.38 $5.40
====================================================================================================================================
Thermal Credit for Condensate: $1.76 per Mil Btu's
Liquid Credit for Condensate: $0.75 per thousand gallons
07/14/97
2
EXHIBIT 2
TULTEX RATE SCHEDULE
MONTHLY DISCOUNT SCHEDULE
Effective Period: May 1, 1998 thru April 30, 1999
ANNUAL STEAM 12,000,000 36,000,000 60,000,000 84,000,000 108,000,000 132,000,000 156,000,000 180,000,000 204,000,000 228,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 0 2,000,001 4,000,001 6,000,001 8,000,001 10,000,001 12,000,001 14,000,001 16,000,001 18,000,001
to to to to to to to to to to
2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 20,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $98.33 $32.78 $19.67 $14.05 $10.93 $8.94 $7.56 $6.56 $5.78 $5.18
Capacity $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $101.93 $36.38 $23.27 $17.65 $14.53 $12.54 $11.16 $10.16 $9.38 $8.78
====================================================================================================================================
ANNUAL STEAM 252,000,000 276,000,000 300,000,000 324,000,000 348,000,000 372,000,000 396,000,000 420,000,000 444,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 20,000,001 22,000,001 24,000,001 26,000,001 28,000,001 30,000,001 32,000,001 34,000,001 36,000,001
to to to to to to to to to
22,000,000 24,000,000 26,000,000 28,000,000 30,000,000 32,000,000 34,000,000 36,000,000 38,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $4.68 $4.28 $3.93 $3.64 $3.39 $3.17 $2.98 $2.81 $2.66
Capacity $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40
Total $8.28 $7.88 $7.53 $7.24 $6.99 $6.77 $6.58 $6.41 $6.26
====================================================================================================================================
ANNUAL STEAM 468,000,000 492,000,000 516,000,000 540,000,000 564,000,000 588,000,000 612,000,000 636,000,000 660,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 38,000,001 40,000,001 42,000,001 44,000,001 46,000,001 48,000,001 50,000,001 52,000,001 54,000,001
to to to to to to to to to
40,000,000 42,000,000 44,000,000 46,000,000 48,000,000 50,000,000 52,000,000 54,000,000 56,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $2.52 $2.40 $2.29 $2.19 $2.09 $2.01 $1.93 $1.86 $2.79
Capacity $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $6.12 $6.00 $5.89 $5.79 $5.69 $5.61 $5.53 $5.46 $5.39
====================================================================================================================================
Thermal Credit for Condensate: $1.76 per Mil Btu's
Liquid Credit for Condensate: $0.75 per thousand gallons
07/14/97
3
Effective Period: May 1, 1998 thru April 30, 1999
ANNUAL STEAM 684,000,000 708,000,000 732,000,000 756,000,000 780,000,000 804,000,000 828,000,000 852,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 56,000,001 58,000,001 60,000,001 62,000,001 64,000,001 66,000,001 68,000,001 70,000,001
to to to to to to to to
58,000,000 60,000,000 62,000,000 64,000,000 66,000,000 68,000,000 70,000,000 72,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $1.73 $1.67 $1.61 $1.56 $1.51 $1.47 $1.43 $1.38
Capacity $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $5.33 $5.27 $5.21 $5.16 $5.11 $5.07 $5.03 $4.98
====================================================================================================================================
ANNUAL STEAM 876,000,000 900,000,000 924,000,000 948,000,000 972,000,000 996,000,000 1,202,000,000 1,044,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 72,000,001 74,000,001 76,000,001 78,000,001 80,000,001 82,000,001 84,000,001 86,000,001
to to to to to to to to
74,000,000 76,000,000 78,000,000 80,000,000 82,000,000 84,000,000 86,000,000 88,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.20 $2.20 $2.20 $2.20 $2.29 $2.35 $2.40 $2.45
O&M $1.35 $1.31 $1.28 $1.24 $1.21 $1.18 $1.16 $1.13
Capacity $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $4.95 $4.91 $4.88 $4.84 $4.90 $4.93 $4.96 $4.98
====================================================================================================================================
ANNUAL STEAM 1,068,000,000 1,092,000,000 1,116,000,000 1,140,000,000 1,168,000,000 1,188,000,000 1,212,000,000 1,236,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 88,000,001 90,000,001 92,000,001 94,000,001 96,000,001 98,000,001 100,000,001 102,000,000
to to to to to to to and above
90,000,000 92,000,000 94,000,000 96,000,000 98,000,000 100,000,000 102,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.50 $2.55 $2.60 $2.64 $2.68 $2.72 $2.76 $2.80
O&M $1.10 $1.08 $1.06 $1.04 $1.01 $0.99 $0.97 $0.95
Capacity $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40 $1.40
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $5.00 $5.03 $5.06 $5.08 $5.09 $5.11 $5.13 $5.15
====================================================================================================================================
Thermal Credit for Condensate: $1.76 per Mil Btu's
Liquid Credit for Condensate: $0.75 per thousand gallons
07/14/97
4
EXHIBIT 3
TULTEX RATE SCHEDULE
MONTHLY DISCOUNT SCHEDULE
Effective Period: May 1, 1999 thru April 30, 2000
ANNUAL STEAM 12,000,000 36,000,000 60,000,000 84,000,000 108,000,000 132,000,000 156,000,000 180,000,000 204,000,000 228,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 0 2,000,001 4,000,001 6,000,001 8,000,001 10,000,001 12,000,001 14,000,001 16,000,001 18,000,001
to to to to to to to to to to
2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 20,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $98.33 $32.78 $19.67 $14.05 $10.93 $8.94 $7.56 $6.56 $5.78 $5.18
Capacity $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $101.73 $36.18 $23.07 $17.45 $14.33 $12.34 $10.96 $9.96 $9.18 $8.58
====================================================================================================================================
ANNUAL STEAM 252,000,000 276,000,000 300,000,000 324,000,000 348,000,000 372,000,000 396,000,000 420,00,000 444,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 20,000,001 22,000,001 24,000,001 26,000,001 28,000,001 30,000,001 32,000,001 34,000,001 36,000,001
to to to to to to to to to
22,000,000 24,000,000 26,000,000 28,000,000 30,000,000 32,000,000 34,000,000 36,000,000 38,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $4.68 $4.28 $3.93 $3.64 $3.39 $3.17 $2.98 $2.81 $2.66
Capacity $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $8.08 $7.68 $7.33 $7.04 $6.79 $6.57 $6.38 $6.21 $6.06
====================================================================================================================================
ANNUAL STEAM 468,000,000 492,000,000 516,000,000 540,000,000 564,000,000 588,000,000 612,000,000 636,000,000 660,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 38,000,001 40,000,001 42,000,001 44,000,001 46,000,001 48,000,001 50,000,001 52,000,001 54,000,001
to to to to to to to to to
40,000,000 42,000,000 44,000,000 46,000,000 48,000,000 50,000,000 52,000,000 54,000,000 56,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $2.52 $2.40 $2.29 $2.19 $2.09 $2.01 $1.93 $1.86 $2.79
Capacity $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $6.92 $5.80 $5.69 $5.59 $5.49 $5.41 $5.33 $5.26 $5.19
====================================================================================================================================
Thermal Credit for Condensate: $1.76 per Mil Btu's
Liquid Credit for Condensate: $0.75 per thousand gallons
07/14/97
5
Effective Period: May 1, 1999 thru April 30, 2000
ANNUAL STEAM 684,000,000 708,000,000 732,000,000 756,000,000 780,000,000 804,000,000 828,000,000 852,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 56,000,001 58,000,001 60,000,001 62,000,001 64,000,001 66,000,001 68,000,001 70,000,001
to to to to to to to to
58,000,000 60,000,000 62,000,000 64,000,000 66,000,000 68,000,000 70,000,000 72,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $1.73 $1.67 $1.61 $1.56 $1.51 $1.47 $1.43 $1.38
Capacity $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $5.13 $5.07 $5.01 $4.96 $4.91 $4.87 $4.83 $4.78
===================================================================================================================================
ANNUAL STEAM 876,000,000 900,000,000 924,000,000 948,000,000 972,000,000 996,000,000 1,020,000,000 1,044,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 72,000,001 74,000,001 76,000,001 78,000,001 80,000,001 82,000,001 84,000,001 86,000,001
to to to to to to to to
74,000,000 76,000,000 78,000,000 80,000,000 82,000,000 84,000,000 86,000,000 88,000,000
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $1.35 $1.31 $1.28 $1.24 $1.21 $1.18 $1.16 $1.13
Capacity $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20
Total $4.75 $4.71 $4.68 $4.64 $4.70 $4.73 $4.76 $4.78
===================================================================================================================================
ANNUAL STEAM 1,068,000,000 1,092,000,000 1,116,000,000 1,140,000,000 1,168,000,000 1,188,000,000 1,212,000,000 1,236,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 88,000,001 90,000,001 92,000,001 94,000,001 96,000,001 98,000,001 100,000,001 102,000,001
to to to to to to to and above
90,000,000 92,000,000 94,000,000 96,000,000 98,000,000 100,000,000 102,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.50 $2.55 $2.60 $2.64 $2.68 $2.72 $2.76 $2.80
O&M $1.10 $1.08 $1.06 $1.04 $1.01 $0.99 $0.97 $0.95
Capacity $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20 $1.20
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $4.80 $4.83 $4.86 $4.88 $4.89 $4.91 $4.93 $4.95
===================================================================================================================================
Thermal Credit for Condensate: $1.76 per Mil Btu's
Liquid Credit for Condensate: $0.75 per thousand gallons
07/14/97
6
EXHIBIT 4
TULTEX RATE SCHEDULE
MONTHLY DISCOUNT SCHEDULE
Effective Period: May 1, 2000 thru April 30, 2003
ANNUAL STEAM 12,000,000 36,000,000 60,000,000 84,000,000 108,000,000 132,000,000 156,000,000 180,000,000 204,000,000 228,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 0 2,000,001 4,000,001 6,000,001 8,000,001 10,000,001 12,000,001 14,000,001 16,000,001 18,000,001
to to to to to to to to to to
2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 20,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $98.33 $32.78 $19.67 $14.05 $10.93 $8.94 $7.56 $6.56 $5.78 $5.18
Capacity $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $101.63 $36.08 $22.97 $17.35 $14.23 $12.24 $10.86 $9.86 $9.08 $8.48
====================================================================================================================================
ANNUAL STEAM 252,000,000 276,000,000 300,000,000 324,000,000 348,000,000 372,000,000 396,000,000 420,00,000 444,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 20,000,001 22,000,001 24,000,001 26,000,001 28,000,001 30,000,001 32,000,001 34,000,001 36,000,001
to to to to to to to to to
22,000,000 24,000,000 26,000,000 28,000,000 30,000,000 32,000,000 34,000,000 36,000,000 38,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $4.68 $4.28 $3.93 $3.64 $3.39 $3.17 $2.98 $2.81 $2.66
Capacity $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $7.98 $7.58 $7.23 $6.94 $6.69 $6.47 $6.28 $6.11 $5.96
====================================================================================================================================
ANNUAL STEAM 468,000,000 492,000,000 516,000,000 540,000,000 564,000,000 588,000,000 612,000,000 636,000,000 660,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
MONTHLY STEAM 38,000,001 40,000,001 42,000,001 44,000,001 46,000,001 48,000,001 50,000,001 52,000,001 54,000,001
to to to to to to to to to
40,000,000 42,000,000 44,000,000 46,000,000 48,000,000 50,000,000 52,000,000 54,000,000 56,000,000
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $2.52 $2.40 $2.29 $2.19 $2.09 $2.01 $1.93 $1.86 $2.79
Capacity $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
Total $5.82 $5.70 $5.59 $5.49 $5.39 $5.31 $5.23 $5.16 $5.09
====================================================================================================================================
Thermal Credit for Condensate: $1.76 per Mil Btu's
Liquid Credit for Condensate: $0.75 per thousand gallons
07/14/97
7
Effective Period: May 1, 2000 thru April 30, 2003
ANNUAL STEAM 684,000,000 708,000,000 732,000,000 756,000,000 780,000,000 804,000,000 828,000,000 852,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 56,000,001 58,000,001 60,000,001 62,000,001 64,000,001 66,000,001 68,000,001 70,000,001
to to to to to to to to
58,000,000 60,000,000 62,000,000 64,000,000 66,000,000 68,000,000 70,000,000 72,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20 $2.20
O&M $1.73 $1.67 $1.61 $1.56 $1.51 $1.47 $1.43 $1.38
Capacity $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $5.03 $4.97 $4.91 $4.86 $4.81 $4.77 $4.73 $4.68
====================================================================================================================================
ANNUAL STEAM 876,000,000 900,000,000 924,000,000 948,000,000 972,000,000 996,000,000 1,020,000,000 1,044,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 72,000,001 74,000,001 76,000,001 78,000,001 80,000,001 82,000,001 84,000,001 86,000,001
to to to to to to to to
74,000,000 76,000,000 78,000,000 80,000,000 82,000,000 84,000,000 86,000,000 88,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.20 $2.20 $2.20 $2.20 $2.29 $2.35 $2.40 $2.45
O&M $1.35 $1.31 $1.28 $1.24 $1.21 $1.18 $1.16 $1.13
Capacity $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $4.65 $4.61 $4.58 $4.54 $4.60 $4.63 $4.66 $4.68
====================================================================================================================================
ANNUAL STEAM 1,068,000,000 1,092,000,000 1,116,000,000 1,140,000,000 1,168,000,000 1,188,000,000 1,212,000,000 1,236,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
MONTHLY STEAM 88,000,001 90,000,001 92,000,001 94,000,001 96,000,001 98,000,001 100,000,001 102,000,001
to to to to to to to and above
90,000,000 92,000,000 94,000,000 96,000,000 98,000,000 100,000,000 102,000,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Fuel $2.50 $2.55 $2.60 $2.64 $2.68 $2.72 $2.76 $2.80
O&M $1.10 $1.08 $1.06 $1.04 $1.01 $0.99 $0.97 $0.95
Capacity $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Total $4.70 $4.73 $4.76 $4.78 $4.79 $4.81 $4.83 $4.85
====================================================================================================================================
Thermal Credit for Condensate: $1.76 per Mil Btu's
Liquid Credit for Condensate: $0.75 per thousand gallons
07/14/97
8
