STIPULATION AND SETTLEMENT AGREEMENT
Exhibit 99.1
BEFORE THE FLORIDA PUBLIC SERVICE COMMISSION
------------------------------------ In re: Petition for rate increase of Progress Energy Florida, Inc. ------------------------------------ |
Docket No. 050078-EI |
STIPULATION AND SETTLEMENT AGREEMENT
WHEREAS,
pursuant to its April 29, 2005 filing, Progress Energy Florida, Inc. (“PEF” or
the “Company”), has petitioned the Florida Public Service Commission (the
“Commission”) for an increase in base rates and other related relief;
WHEREAS,
the Company, the Office of Public Counsel (“OPC”), the Attorney General of the
State of Florida (“AG”), the Florida Industrial Power Users Group
(“FIPUG”), the Florida Retail Federation (“FRF”), the AARP, Sugarmill
Xxxxx Civic Association, Inc. (“Sugarmill”), Xxxxx X. Xxxxxx
(“Xxxxxx”), White Springs Agricultural Chemicals, Inc. (“White
Springs”) and the Commercial Group (“CG”) (unless the context clearly
requires otherwise, the term Party or Parties means a signatory to this Agreement), have
entered into this Stipulation and Settlement Agreement (the “Agreement”) for the
purpose of reaching an informal resolution of all outstanding issues in Docket No.
050078-EI pending before the Commission and as more fully set forth below;
WHEREAS,
PEF and the Parties to this Agreement recognize that this is a period of unprecedented
world energy prices and that this Agreement will mitigate the impact of high energy
prices;
WHEREAS,
PEF has provided minimum filing requirements (“MFRs”) as required by the
Commission, which have been thoroughly reviewed by the Commission Staff and the Parties to
this proceeding;
WHEREAS,
PEF has filed comprehensive testimony in support of and detailing its MFRs;
WHEREAS, the
Company has filed comprehensive Depreciation, Fossil Dismantlement and Nuclear
Decommissioning Funding Studies in this docket in accordance with Commission rules;
WHEREAS,
the Parties and the Commission Staff have conducted extensive discovery on the
Company’s MFRs, testimony and Depreciation, Fossil Dismantlement and Nuclear
Decommissioning Funding Studies;
WHEREAS,
the discovery conducted has included the production of and opportunity to inspect tens of
thousands of pages of documents and information regarding PEF’s costs and operations;
WHEREAS,
the Parties to this Agreement have undertaken to resolve the issues raised in these
proceedings so as to maintain a degree of stability in PEF’s base rates and charges,
and to provide incentives to PEF to continue to promote efficiency through the terms of
this Agreement;
WHEREAS,
PEF is currently operating under a stipulation and settlement agreement agreed to by the
OPC and other parties, and approved by the Commission in Order No. PSC-02-0655-AS-EI in
2002;
WHEREAS,
that agreement provided for a cumulative reduction of $500 million in PEF’s revenues
and included a revenue sharing plan that has resulted in refunds to customers in excess of
$50 million;
WHEREAS,
the Company must make substantial investments in the construction of new electric
generation and other infrastructure for the foreseeable future in order to continue to
provide safe and reliable power to meet the growing needs of customers in the state of
Florida; and
WHEREAS,
continuing the preservation of the benefits of the 2002 $125 million annual base rate
reduction, the revenue sharing plan under this Agreement, and the other provisions in this
Agreement, including those addressing the recovery of costs associated with the
Company’s electric generating power plants will further be beneficial to retail
customers;
NOW,
THEREFORE, in consideration of the foregoing and the covenants contained herein, the
Parties hereby agree and stipulate as follows:
1.
Upon approval and final order of the Commission, this Agreement will become
effective with the first billing cycle in January of 2006 (the
“Implementation Date”), and continue through the last billing cycle in
December of 2009; provided, however, that PEF may, at its sole option, extend
the term of this Agreement through the last billing cycle of June 2010 upon
written notice to the Parties to this Agreement and to the Commission on or
before March 1, 2009.
2.
PEF will continue its existing base rates in effect for the term of this
Agreement, without any change in such base rates except as otherwise provided
for in this Agreement. All other cost of service and rate design changes will be
determined in accordance with Section 15 of this Agreement. PEF will begin
applying the base rate charges required by this Agreement on the Implementation
Date.
3.
The billing demand credits for Interruptible and Curtailable customers currently
receiving service under PEF’s IS-1, IST-1, CS-1 and CST-1 rate schedules,
as modified herein, shall remain in effect for the term of this Agreement, and
thereafter until these rate schedules are reviewed in a general rate case;
provided, however, that these rate schedules shall continue to be closed to new
customers, as defined in the stipulation approved by the Commission in Docket
No. 950645-EI.
4.
No Party to this Agreement will request, support, or seek to impose a change in
the application of any provision hereof. OPC, AG, FIPUG, FRF, AARP, Sugarmill,
Xxxxxx, White Springs, and CG will neither seek nor support any reduction in
PEF’s base rates and charges, including interim rate decreases, that would
take effect prior to the first billing cycle for January 2010 (or prior to the
first billing cycle for July 2010, if PEF elects to extend this Agreement
pursuant to Section 1), unless such reduction is requested by PEF. PEF may not
petition for an increase in base rates and charges that would take effect prior
to the first billing cycle for January 2010 (or that would take effect prior to
the first billing cycle for July 2010, if PEF elects to extend this Agreement
pursuant to Section 1), except as otherwise provided for in Sections 7 and 10 of
this Agreement. During the term of this Agreement, except as otherwise provided
for in this Agreement, or except for unforeseen extraordinary costs imposed by
government agencies relating to safety or matters of national security, PEF will
not petition for any new surcharges, on an interim or permanent basis, to
recover costs that are of a type that traditionally and historically would be,
or are presently, recovered through base rates.
5.
During the term of this Agreement, revenues that are above the levels stated in
this Agreement will be shared between PEF and its retail electric utility
customers as set forth in Section 6 below — it being expressly understood
and agreed that the mechanism for revenue sharing herein established is not
intended to be a vehicle for a “rate case” type inquiry concerning
expenses, investment, and financial results of operations.
6.
Revenue Sharing Incentive Plan – Commencing on the Implementation Date and
through the last billing cycle in December of 2009 (or through the last billing
cycle in June 2010, if PEF elects to extend this Agreement pursuant to Section
1), PEF will be under a Revenue Sharing Incentive Plan (the “Plan”) as
set forth below.
a.
Revenue Cap — Under the Plan, all retail base rate revenues above the
retail base rate revenue cap, as set forth below, will be refunded to retail
customers on an annual basis. The retail base rate revenue cap for 2006 will be
$1,549 million. For each succeeding calendar year during the term of this
Agreement, the succeeding calendar year retail base rate revenue sharing cap
amounts shall be established by increasing the prior year’s cap by the
average annual growth rate in retail kWh sales for the ten calendar year period
ending December 31 of the preceding year multiplied by the prior year’s
retail base rate revenue sharing cap.
b.
Sharing Threshold — Retail base rate revenues between the sharing threshold
amount and the retail base rate revenue cap will be divided into two shares on a
1/3, 2/3 basis. PEF’s shareholders shall receive the 1/3 share. The 2/3
share will be refunded to retail customers. The retail base rate revenue sharing
threshold for 2006 will be $1,499million in retail base rate revenues.
For each succeeding calendar year during the term of this Agreement, the
succeeding calendar year retail base rate revenue sharing threshold amounts
shall be established by increasing the prior year’s threshold by the
average annual growth rate in retail kWh sales for the ten calendar year period
ending December 31 of the preceding year multiplied by the prior year’s
retail base rate revenue sharing threshold.
c.
Revenue Exclusions — The Plan and the corresponding revenue sharing
thresholds and revenue caps are intended to relate only to retail base rate
revenues of PEF based on its current structure and regulatory framework.
Incremental base rate revenues attributable to any business combination or
acquisition involving PEF, its parent, or its affiliates, whether inside or
outside the state of Florida, or revenues from any clause, surcharge or other
recovery mechanism other than retail base rates, shall be excluded in
determining retail base rate revenues for purposes of revenue sharing under this
Agreement.
d.
The retail base rate revenue cap and sharing threshold are subject to further
modification in accordance with Sections 4, 10 and 12 of this Agreement. After
any such modification, the revenue sharing cap and threshold will increase
annually as set forth in this Section 6.
e.
Calculation of sharing threshold and revenue cap for partial calendar years
– In the event that this Agreement is terminated other than at the end of a
calendar year, the sharing threshold and revenue cap for the partial calendar
year shall be determined at the end of that calendar year by (i) dividing the
retail kWh sales during the partial calendar year by the retail kWh for the full
calendar year, and (ii) applying the resulting fraction to the sharing threshold
and revenue cap for the full calendar year that would have been calculated as
set forth in Sections 6(a) and 6(b) above.
f.
Calculation of annual average growth rate – For purposes of Section 6, the
average annual growth rate shall be calculated by summing the percentage change
in retail kWh sales for each year in the relevant ten year period and dividing
by 10.
7.
If PEF’s retail base rate earnings fall below a 10% return on equity as
reported on a Commission adjusted or pro-forma basis on a PEF monthly earnings
surveillance report during the term of the Agreement, PEF may petition the
Commission to amend its base rates notwithstanding the provisions of Section 4,
either as a general rate proceeding or as a limited proceeding under Section
366.076, F.S. The Parties to this Agreement are not precluded from participating
in such a proceeding, and, in the event PEF petitions to initiate a limited
proceeding under this Section, any Party may petition to initiate any proceeding
otherwise permitted by Florida law. This Agreement shall terminate upon the
effective date of any Final Order issued in such proceeding that changes
PEF’s base rates under this Section. This Section shall not be construed to
bar or limit PEF from any recovery of costs otherwise contemplated by this
Agreement.
8.
All revenue sharing refunds will be paid with interest at the 30-day commercial
paper rate as specified in Rule 25-6.109, F.A.C., to retail customers of record
during the last three months of each applicable refund period based on their
proportionate share of base rate revenues for the refund period. For purposes of
calculating interest only, it will be assumed that revenues to be refunded were
collected evenly throughout the preceding refund period at the rate of
one-twelfth per month. All refunds with interest will be in the form of a credit
on the customers’ bills beginning with the first day of the first billing
cycle of the third month after the end of the applicable refund period. Refunds
to former customers will be completed as expeditiously as reasonably possible.
9.
PEF will be permitted clause recovery of prudently incurred incremental costs
associated with the establishment of a Regional Transmission Organization or any
other costs arising from an order of the Commission or the Federal Energy
Regulatory Commission addressing any alternative configuration or structure to
address independent transmission system governance or operation. Any Party to
this Agreement may participate in any proceeding relating to the recovery of
costs contemplated in this Section for the purpose of challenging the
reasonableness and prudence of such costs, but not for the purpose of
challenging PEF’s right to clause recovery of such costs.
10.
a. Storm Cost Recovery. PEF will continue collecting its storm reserve
deficiency in the amount and through the mechanism established in Commission
Order PSC-05-0748-FOF-EI, except as otherwise may be provided in Section 10.b.
Those Parties who have filed notices of appeal or notices of joinder in appeals
of Commission Order No. PSC-05-0748-FOF-EI shall, upon this Agreement becoming
fully effective as provided for herein, withdraw their notices of appeal or
notices of joinder in appeals. Nothing in this Agreement shall preclude PEF from
petitioning the Commission to seek recovery of costs associated with any
catastrophic storms without the application of any form of earnings test or
measure and irrespective of previous or current base rate earnings. The Parties
expressly agree that any proceeding to recover costs associated with any
catastrophic storm shall not be a vehicle for a “rate case” type
inquiry concerning the expenses, investment, or financial results of operations
of the Company and shall not apply any form of earnings test or measure or
consider previous or current base rate earnings.
b.
PEF reserves the right to petition the Commission for approval to either: (a)
securitize (1) any or all of its storm reserve deficiency as set forth in
Commission Order PSC-05-0748-FOF-EI, or (2) an amount necessary to replenish
PEF’s reserves for non-catastrophic storms, pursuant to Section 366.8260,
F.S. (2005), or both; or (b) increase its base rates or to impose a separate
charge to collect and accrue reserves for non-catastrophic storms without the
application of any form of earnings test or measure and irrespective of previous
or current base rate earnings. The Parties reserve the right to participate in
any such proceeding under Section 10.b before the Commission and to challenge
the reserve amount requested by PEF. The Parties expressly agree that any
proceeding under Section 10.b shall be limited to the issue of the
appropriateness of securitization or the appropriate amount of the
Company’s non-catastrophic storm reserve accrual without the application of
any form of earnings test or measure and irrespective of previous or current
base rate earnings, and shall not be a vehicle for a “rate case” type
inquiry concerning the expenses, investment, or financial results of operations
of the Company. In the event the Commission grants a base rate increase under
this Section, such amounts shall be added to the revenue sharing threshold and
cap set forth in Section 6 of this Agreement.
c.
In the event PEF collects any remaining storm deficiency or collects and accrues
for future non-catastrophic storm events pursuant to Section 366.8260, F.S.
(2005), the Parties agree to negotiate in good faith for an optional tariff
rider whereby a class of demand-metered customers may pay its pro rata share of
any remaining uncollected 2004 storm cost deficiency as established in
Commission Order PSC-05-0748-FOF-EI through a charge over a period of no more
than 2 years. If the Parties are able to agree upon such a tariff, PEF agrees to
file the tariff for Commission approval and the Parties agree to support the
tariff in proceedings before the Commission. If, however, the Commission does
not approve the tariff or only approves it with modifications or conditions that
are unacceptable to PEF in its reasonable judgment, then PEF shall not be
required to put the tariff into effect. Within thirty days of any such denial or
modification, the Parties agree to negotiate in good faith a revised tariff and
if an agreement is reached to reapply for Commission approval. Revenues
collected pursuant to Section 366.8260, F.S. (2005), pursuant to a tariff rider
for demand-metered customers or otherwise under this Section 10.c will not be
considered in the determination of revenue sharing in Section 6 of this
Agreement. In the event PEF does not collect any remaining storm deficiency or
does not collect and accrue reserves for future non-catastrophic storm events
pursuant to Section 366.8260, F.S. (2005), then PEF shall continue to collect
any remaining storm reserve deficiency through the mechanism established in
Commission Order PSC-05-0748-FOF-EI and will collect and accrue reserves for
future non-catastrophic storms as may be determined by the Commission
irrespective of previous or current base rate earnings under Section 10.b(b).
11.
Nuclear Decommissioning, Fossil Dismantlement and Depreciation Studies.
a.
Beginning with the Implementation Date through the last billing cycle in
December of 2009 (or through the last billing cycle in June 2010, if PEF elects
to extend this Agreement pursuant to Section 1), PEF:
(1)
will suspend accruals to its reserve for nuclear decommissioning, based on its filed Nuclear
Decommissioning Study;
(2)
will continue to suspend accruals to fossil dismantlement and will withdraw the
Fossil Dismantlement Study PEF filed in this docket; and
(3)
shall apply the depreciation rates consistent with those set forth in the
Depreciation Study that PEF filed in this docket as modified by Exhibit 2 to
this Agreement.
b.
Approval of this Agreement by the Commission shall constitute approval of the
Company’s Nuclear Decommissioning and Depreciation Studies. PEF shall file
with the Commission updated Nuclear Decommissioning, Fossil Dismantlement and
Depreciation Studies on or before July 31, 2009 (or on or before December 31,
2009, if PEF elects to extend this Agreement pursuant to Section 1).
12.
a. Beginning on the commercial in-service date of Xxxxx Unit 4, for which the
Commission has previously granted a need determination in Order
PSC-04-1168-FOF-EI, PEF will further increase its base rates to recover the full
revenue requirements of (a) the installed cost of Xxxxx Unit 4 subject to the
limitations of Rule 25-22.082(15), F.A.C., and (b) the unit’s non-fuel
operating expenses. The revenue requirements of the unit will be calculated
using an 11.75% XXX and the capital structure as set forth in the test year 2006
MFR Schedule D-1a filed by PEF in Docket No. 050078-EI. Such base rate
increase shall be established by the application of a uniform percentage
increase to the demand and energy charges of the Company’s base rates
including delivery voltage credits, demand credits, power factor adjustment and
premium distribution service, and using billing determinants as filed by PEF in
Docket No. 050078-EI, and set forth in Exhibit 1, Attachment C to this
Agreement. Beginning on the commercial in-service date of Xxxxx Unit 4, such
amounts shall be added to the revenue sharing threshold and cap set forth in
Section 6 of this Agreement.
b.
Effective on the Implementation Date of this Agreement and until the commercial
in-service date of Xxxxx Unit 4 (the “Fuel Clause Recovery Period”),
PEF will recover annually through the fuel cost recovery clause the 2006 full
revenue requirements of the installed cost of Xxxxx Unit 2, excluding the
unit’s non-fuel O&M expenses. During the Fuel Clause Recovery Period,
the installed cost of Xxxxx Unit 2 and corresponding depreciation accounts will
be excluded from rate base for surveillance reporting purposes. Upon the
commercial in-service date of Xxxxx Unit 4, PEF will transfer the recovery of
Xxxxx Unit 2‘s 2006 full revenue requirements, excluding the unit’s
non-fuel O&M expenses, from the fuel cost recovery clause to base rates by
decreasing PEF’s fuel charges and increasing its base rates accordingly.
The calculation of Xxxxx Unit 2‘s revenue requirements for base rate
recovery purposes will be calculated using an 11.75% XXX and the capital
structure as set forth in the test year 2006 MFR Schedule D-1a filed by PEF in
Docket No. 050078-EI. Such base rate increase shall be established by the
application of a uniform percentage increase to the demand and energy charges of
the Company’s base rates including voltage credits, demand credits, power
factor adjustment and premium distribution service, and using billing
determinants as filed by PEF in Docket No. 050078-EI, and as included in Exhibit
1, Attachment C to this Agreement. Beginning on the commercial in-service date
of Xxxxx Unit 4, such amounts shall be added to the revenue sharing threshold
and cap set forth in Section 6 of this Agreement.
13.
PEF will be authorized, at its discretion, to accelerate the amortization of the
regulatory assets for FAS 109 Deferred Tax Benefits Previously Flowed Through,
Unamortized Loss on Reacquired Debt, and Interest on Income Tax Deficiency over
the term of this Agreement. PEF will be authorized to make a new specific
adjustment to its common equity balance for the purposes of calculation of the
capitalization ratios used for surveillance reporting pursuant to Rule
25-6.1352, F.A.C and pass-through clauses. The calculation of this adjustment
will be based on the methodology employed by Standard and Poor’s Ratings
Service (“S&P”) in its determination of imputed off balance sheet
obligations related to future capacity payments to qualifying facilities and
other entities under long-term purchase power agreements. The amount of the
adjustment to common equity will fluctuate over time with changes in the amount
of future purchase power obligations. The Parties agree that the common equity
adjustment set forth in this Section is unique to the specific circumstances of
PEF, as it relates to this Agreement, and the treatment of PEF’s common
equity in this Section shall not constitute binding Commission precedent in any
future proceeding. PEF’s adjusted equity ratio will be capped at 57.83%.
The adjusted equity ratio will equal common equity divided by the sum of common
equity, off balance sheet obligations, preferred equity, and debt (long-term and
short-term).
14.
Effective on the Implementation Date, PEF will not have an authorized return on
equity range for the purpose of addressing earnings levels, and the revenue
sharing mechanism herein described will be the appropriate and exclusive
mechanism to address earnings levels. However, for purposes other than reporting
or assessing earnings, such as cost recovery clauses and Allowance for Funds
Used During Construction (“AFUDC”), PEF will use 11.75% as its
authorized return on equity percentage in such cost recovery clauses. Commencing
with the Implementation Date the applicable annual AFUDC rate will be 8.848%.
15.
Except as otherwise provided in this Agreement, including Exhibit 1 to this
Agreement, all other current cost of service and rate design matters shall
remain in effect for the term of this Agreement and thereafter until modified by
the Commission.
16.
PEF will continue to collect its post-September 11, 2001 security costs through
the capacity recovery clause. PEF will collect through the fuel recovery clause
its carrying costs of fuel inventory in transit and its fuel procurement O&M
costs.
17.
The provisions of this Agreement are contingent on approval of this Agreement in
its entirety by the Commission. Commission approval will constitute approval of
MFRs filed in Docket No. 050078-EI for regulatory reporting purposes and for
establishing PEF’s baseline costs in its next base rate proceeding. The
Parties other than PEF take no position as to the accuracy or validity of the
information included in the MFRs. The Parties further agree that they will
support this Agreement and will not request or support any order, relief,
outcome, or result in conflict with the terms of this Agreement in any
administrative or judicial proceeding relating to, reviewing, or challenging the
establishment, approval, adoption, or implementation of this Agreement or the
subject matter hereof. Approval of this Agreement in its entirety will resolve
all matters in Docket No. 050078-EI pursuant to and in accordance with Section
120.57(4), F.S. (2005). Docket No. 050078-EI will be closed effective on the
date the Commission Order approving this Agreement is final.
18.
New capital costs for environmental expenditures recovered through the
Environmental cost Recovery Clause will be allocated, for the purpose of clause
recovery, consistent with PEF’s current base cost of service methodology.
19.
Service Quality. During the term of this agreement, PEF will continue to focus
on its customer service and reliability consistent with Commission standards and
good utility practice. PEF maintains that it has fulfilled its commitment, as
part of the 2002 settlement agreement, to achieve a SAIDI of 80 by 2004, while
at the same time improving the majority of the reliability performance
indicators monitored by the Commission. During the term of this Agreement, PEF
intends to continue the same performance focus with the goal of maintaining or
improving the quality of service for its customers. Current plans in this area,
as contemplated in the Company’s rate filing in Docket No. 050078-EI and
which are subject to revision by the Company at its discretion, include the
implementation of the Mobile Meter Reading project designed to improve the
amount, accuracy and timeliness of information for customers, and the assessment
and subsequent implementation of targeted initiatives intended to improve
overall system performance for customers.
20.
This Agreement dated as of August 31, 2005 may be executed in counterpart
originals, and a facsimile of an original signature shall be deemed an original.
In
Witness Whereof, the Parties evidence their acceptance and agreement with the provisions
of this Agreement by their signatures below.
| Progress Energy Florida, Inc. By /s/ Xxxx Xxxxx Xxxx Xxxxx, Esquire Post Office Box 00000 Xx. Xxxxxxxxxx, Xxxxxxx 00000 Office of Public Counsel By /s/ Xxxxxx XxXxxx Xxxxxx XxXxxx, Esquire 000 X. Xxxxxxx Xx., Xxxx 000 Xxxxxxxxxxx, Xxxxxxx 00000 Attorney General, State of Florida By /s/ Xxxxxxx Xxxxx Xxxxxxx Xxxxx, Attorney General Xxxxxxxxxxx X. Xxxx, Esquire Xxxx Xxxxxx, Esquire The Capitol-PL01 Tallahassee, Florida 32399-1050 AARP By /s/ Xxxxxxx X. Xxxxxx Xxxxxxx X. Xxxxxx, Esquire 0000 Xxxxxxxxxxxxx Xxxx Xxxxxxxxxxx, Xxxxxxx 00000 Sugarmill Xxxxx Civic Association, Inc. By /s/ Xxxxxxx X. Xxxxxx Xxxxxxx X. Xxxxxx 0000 Xxxxxxxxxxxxx Xxxx Xxxxxxxxxxx, Xxxxxxx 00000 Xxxxx X. Xxxxxx By /s/ Xxxxxxx X. Xxxxxx Xxxxxxx X. Xxxxxx 0000 Xxxxxxxxxxxxx Xxxx Xxxxxxxxxxx, Xxxxxxx 00000 Florida Industrial Power Users Group By /s/ Xxxx X. XxXxxxxxx, Xx. Xxxx X. XxXxxxxxx, Xx., Xxxxxxx XxXxxxxxx, Xxxxxx Post Office Box 3350 Tampa, Florida 33601 White Springs Agricultural Chemicals, Inc. By /s/ Xxxxx Xxxxxx Xxxxx Xxxxxx, Xxxxxxx Xxxxxxxxxx Xxxxxx & Xxxxxxx LLP 0000 Xxxxxxxx Xxxxxx Xxxx Xxxxxxxxxxx, Xxxxxxx 00000-0000 Florida Retail Federation By /s/ Xxxxxx Xxxxxxxx Xxxxxx Xxxxxx Xxxxxxxx Xxxxxx, Xxxxxxx Xxxxxxx & Xxxxxxx, P.A. 000 Xxxx Xxxxxxx Xxx Xxxxxxxxxxx, Xxxxxxx 00000 The Commercial Group By /s/ Xxxx Xxxxxxx Xxxx Xxxxxxx, Xxxxxxx XxXxxxx Long & Xxxxxxxx LLP One Peachtree Center 000 Xxxxxxxxx Xxxxxx, X.X., Xxxxx 0000 Xxxxxxx, Xxxxxxx 00000 |
