§2204 Electric Utility Contracts; Authority to Enter Into; Cancellation; Submission to Energy Committees

Summary

The Commission can make new electric-utility contracts or change existing ones for the Oak Ridge, Paducah, and Portsmouth sites for up to 25 years. It can do this without following certain federal payment rules (sections 1341, 1342, 1349–1351 and subchapter II of chapter 15 of title 31). The Commission may end those contracts if it pays the cancellation costs written in the contract. Money appropriated to the Commission can be used to pay those cancellation costs. If the Commission or another federal agency buys power from the contractor after a cancellation but while the original contract would have still run, the cancellation payments must be considered when setting the price charged. If the Tennessee Valley Authority (TVA) would have supplied the power, the Commission can instead contract with another person to supply TVA. Any contract made under this authority must be sent to the Energy Committees and wait 30 days while Congress is in session before it takes effect. When counting 30 days, skip days when either House is not in session because of an adjournment longer than three days. The Energy Committees can waive all or part of the 30-day wait by written resolution after they get the proposed contract.