- 6 -
the power contracts. The purpose of “Amendment No. 3 to Power
Contract” dated October 1984 was to bring petitioner into
compliance with an August 1984 order by the Federal Energy
Regulatory Commission (FERC) requiring that the power contracts
be amended to conform to FERC’s regulations regarding the
treatment of nuclear fuel in process in rate base.
An “Additional Power Contract” was dated February 1, 1984,
and its operative terms were to commence in January 2003. The
additional power contracts had two purposes: to extend the power
contracts from their original January 2003 termination date and
to provide for the collection and handling of funds for the
decommissioning of the plant.
The availability of the investment tax credit had no impact
on the decision by petitioner to enter into the power contracts
or the subsequent amendments to the power contracts. Also, when
petitioner entered into the power contracts in 1968, it could not
have predicted whether any fuel assemblies would be put in
service at the plant in 1990.
Operating License and Amendments
The operating license, dated September 15, 1972, authorized
fuel loading, low power testing, and further operations at power
levels not in excess of 1830 megawatts thermal (MWT), 75 percent
of the facility’s rated power level of 2440 MWT. In 1978, the
plant was authorized to increase its rated power level from
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Next
Last modified: May 25, 2011