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Exhibit 10.45
FPL Energy Point Beach,
LLC
700 Universe Boulevard
Juno Beach, Florida 33408
October 31, 2007
James C. Fleming, Esq.
General Counsel and Executive Vice President
Wisconsin Electric Power Company
231 West Michigan Street
Milwaukee, Wisconsin 53203
RE:Amendment to Section 21.2 of the Point Beach Nuclear Plant
Power Purchase
Agreement
Dear Mr. Fleming:
This Letter Agreement is made by and between FPL Energy Point
Beach, LLC ("FPLE-PB") and Wisconsin Electric Power Company
("WEPCO") (collectively, the "Parties") and relates to the Power
Purchase Agreement dated as of December 19, 2006 (PPA), as
amended. This Letter Agreement is effective as of the date that it
is executed by an authorized representative of WEPCO. Capitalized
terms used and not otherwise defined in this letter shall have the
respective meanings ascribed to such terms in the PPA.
By this Letter Agreement, FPLE-PB and WEPCO each desire and
intend to amend Section 21.2 of the PPA as hereinafter set
forth.
In consideration of the premises, mutual covenants and
agreements set forth herein and other good and valuable
consideration, the receipt, sufficiency and adequacy of which are
hereby acknowledged, the Parties, intending to be legally bound,
hereby agree as follows:
- Amendment to Section 21.2 of the PPA
-
Section 21.2 of the PPA is hereby amended and
restated by replacing it in its entirety with the following:
In the event that, at any time during the Term, a Change in Law
occurs that causes any aspect of the Facilities as in existence on
the date hereof to become a tradable attribute (e.g., emission
credit, renewable energy credit, environmental credit, "Green"
credit, etc.) or otherwise to have a market value (each such
tradable attribute or other aspect having a market value, a "Future
Attribute"), Buyer shall be entitled to one hundred percent (100%)
of such Future Attribute and the benefits of such Future Attribute
for the remainder of the Term; provided, however, that any Future
Attribute resulting from the Planned Uprate or any other Uprate of
the Facilities that increases the Capacity of the Facilities above
that set forth on Exhibit B on the Effective Date shall be
allocated fifty percent (50%) to Buyer and fifty percent (50%) to
Seller; provided, further, however, if Buyer does not purchase the
Capacity, E
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