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wished. He suggested that the Chairman ask representatives of OVEC
to meet with the Commissioners te discuss this matter. Mr. Cook then
reported on negotiations with OVEC to obtain the additional power agreement. He said he believed that the cempany had been quite fair in
agreeing to the requests which AEC had made during these negotiations,
especially since the original contract did not provide that AEC had any
right to the additional power. Mr. Bloch said that AEC had begun
negotiations for the additional agreement on the assumption that a longer
term than five years would be undesirable because of the uncertainty
of the cost of this power and the uncertainty of the plant actually producing
the additional power. He added that it was also uncertain whether it
would be desirable to continue to use the additional pewer at Portsmouth
fer five years, He pointed out that this might require that AEC purchase
supplemental power through OVEC from other sources. This would
require that AEC pay a premium price for this power. Mr. Cook pointed
out that OVEC would ask for provisions for price adjustment if a longer
term were requested.
The Commissioners then discussed with Mr. Cook and Mr. Bloch
the desirability of requesting OVEC to censider a five year term for
the agreement. Mr, Cook said he believed such a request would be a
breach ef good faith. However, in response to a question by Mr. Vance,
he said he would be happy to ask Mr. Sporn for his views on the matter.
Mr. Murray said he wished to have Mr, Sporn answer the following
questions for the record:
a. Whether OVEC would agree to a five year agreement
on the same terms as a three year agreement?
b. If not, what the additional cost of a five year
agreement would be?
In response to a question by Mr. Strauss, Mr. Murray said he would
n-t be willing to authorize execution of the agreement with the undert.anding that the answers to these questions would be furnished later.
After further discussion, the Commission, with Commissioners
Strauss and Vance voting in the affirmative and Mr. Murray voting in
the negative:
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