of the Draft Term Sheet is Critical to Alcoa and Could Provide Large Benefits Sample Clauses

of the Draft Term Sheet is Critical to Alcoa and Could Provide Large Benefits. To the Northwest Region BPA’s Draft Term Sheet provides for BPA to meet up to two potlines of the DSIs power requirements for the remaining two-years of the existing Block Sale Agreement with a physical power sale, provided that power can be purchased at less than $48 per MWH. BPA will provide power to the DSIs for an additional 5-year term provided that BPA can serve the DSIs at a power cost of less than $64/MWH. Section 3 of the Term Sheet provides for BPA to make an early determination of the feasibility of extending aluminum DSI power service under a new contract for an indefinite period following the Xxxxx Xxxxx D-7 August 3, 2009 Page 5 expiration of the intermediate 5-year term. Alcoa appreciates BPA’s willingness to consider such a follow-on term as such an extension, if it comes early enough to assure a 10-year power supply may allow Alcoa to make capital investments at the Intalco smelter that would have significant benefits not only to Intalco, its employees and the community that it serves, but also to the Northwest economy as a whole. Moreover, if BPA acts quickly, it may lock-in power prices that will permit it to serve the aluminum DSIs at the lowest feasible net cost to BPA. A contract duration of 10 years or more would allow Alcoa to make capital investments with a sufficient period of time to amortize the cost of the capital investments. On the other hand, Alcoa recognizes that if a 10-year contract requires BPA to seek to secure the full 10 years of power to serve Intalco, then the corresponding requirement for a long- term power acquisition process under Section 6(c) of the Northwest Power Act could defer action by BPA at a critical decision point for Alcoa concerning closure of the Intalco smelter. If BPA can promptly commit to a two-year contract with an additional 5-year term and commit to consider a possible follow-on contract under acceptable terms, aggregating 10 years, this might permit capital expenditures by Alcoa that would permit longer-term operation of the smelter. This could be accomplished by permitting Alcoa to modernize the Intalco facilities to achieve greater energy and production cost efficiencies. A 10-year contract could also enable Alcoa to make and amortize investments in greenhouse gas reduction technologies that would enable the Northwest region to better meet greenhouse gas emission reduction goals. The closure of the smelter would not count toward the achievement of the goals (presumably because policy makers...
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Related to of the Draft Term Sheet is Critical to Alcoa and Could Provide Large Benefits

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  • Reciprocal Compensation Arrangements Pursuant to Section 251(b (5) of the Act

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