SECOND AMENDMENT
TO
POWER PURCHASE AGREEMENT
AGREEMENT entered into as of this day of August 1988, by and between
COGEN TECHNOLOGIES NJ VENTURE, a New Jersey general partnership ("Seller"), and
JERSEY CENTRAL POWER & LIGHT COMPANY, a New Jersey corporation ("Buyer")
(collectively referred to as "Parties").
W I T N E S S E T H :
WHEREAS, COGEN TECHNOLOGIES NJ, INC. ("Cogen") and Buyer have entered into
a certain Power Purchase Agreement, dated October 29, 1985, as amended on
September 5, 1986, (the "Power Purchase Agreement") providing, among other
things for the Buyer to purchase the Net Electrical Energy, as therein defined,
of Cogen's proposed Bayonne cogeneration facility having an estimated nameplate
capacity of approximately 125 MW.
WHEREAS, Cogen has assigned the Power Purchase Agreement to the Seller;
WHEREAS, the Seller has increased the estimated nameplate rating of its
cogeneration facility to 165 MW due to further refinements achieved during the
design and construction thereof; and
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WHEREAS, as an accommodation to Seller, Buyer is willing to agree to
purchase hourly, payable on a monthly basis, 75.8% of the net electrical output
from each discrete generator of Seller's cogeneration facility but in any event
only up to a maximum aggregate of 125 MWH/hr. on an average annual basis.
NOW, THEREFORE, in consideration of the premises and other good and
valuable consideration, receipt of which is hereby acknowledged, the Parties
agree as follows:
1. Article 2.4 of the Power Purchase Agreement is hereby amended to read in
its entirety as follows:
"Cogeneration Facility" or "Seller's Facility" or "the Facility" means
the three General Electric natural gas turbines (Serial #295326, 295327,
295328), three waste heat recovery boilers, and one General Electric
extraction steam turbine (Serial #198043) and all appurtenant structures
and equipment, including Seller's interconnection facilities, and real
property interest owned or leased and operated by Seller at
International Matex Tank Terminals in Bayonne, New Jersey, for the
purposes of generating electricity and steam and other forms of useful
thermal output, and having an aggregate nameplate capacity of
approximately 165 Megawatts.
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2. Article 2.10 of the Power Purchase Agreement is hereby amended to read
in its entirety as follows:
"Net Electrical Energy" or "Electricity" means seventy-five and eight-
tenths percent (75.8%) of the gross amount of electricity generated by
Seller's Facility less seventy-five and eight-tenths percent (75.8%) of
the Kwh consumed for use by Seller's Facility whether purchased or
supplied by the Seller and transformation and transmission losses, if
any, to the Point of Delivery.
3. All electrical generating units which are not included within the
definition of Seller's Facility and which are added to the Seller's Facility at
any time shall not be considered part of Seller's Facility for purposes of the
Power Purchase Agreement and the electrical output of such units shall be
separately metered from the Seller's Facility.
4. The Seller will, on a best-effort basis, assist JCP&L in obtaining
from Public Service Electric & Gas on a timely basis, and at a cost to JCP&L
reflective of the cost of supplying the same, copies of the magnetic tape
cartridges used to calculate the deliveries of Net Electrical Energy.
5. Except as expressly amended by the Second Amendment and the amendment
dated September 5, 1986, the Power Purchase Agreement as executed on October 29,
1985 shall remain in full force and effect.
6. This Second Amendment may be executed in several counterparts, all of
which taken together shall be one and the same original instrument.
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IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be
signed by their respective officers thereunto duly authorized as of the day and
the year first set forth above.
ATTEST: COGEN TECHNOLOGIES NJ VENTURE
/s/ XxxxXxx XxXxxxxx By: /s/ Xxxxxx X. XxXxxx
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Assistant Secretary Xxxxxx X. XxXxxx, President
Cogen Technologies, NJ, Inc.
Managing Venturer
ATTEST: JERSEY CENTRAL POWER & LIGHT COMPANY
/s/ C. A. Marks By: /s/ [Signature appears here]
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C. A. Marks
Assistant Secretary
