§618i Effective Date

Summary

Lets people write charge rules and sign contracts right away, but those charges and contracts do not become active until the whole subchapter is effective for all purposes. The subchapter becomes effective for all purposes only when the Secretary finds that the current lease of the Hoover Power Plant has been provided for termination and the plant will be operated as allowed under section 618h of this title, and when the parties who, under contracts in force on July 19, 1940, were required to pay at least 90 percent of the firm energy have signed new contracts agreeing to that operation and any other terms the Secretary requires. The 90 percent is measured at the end of the absorption periods in the Secretary’s rules that were in effect on July 19, 1940. If those contracts are not signed before June 1, 1941, the subchapter stops and has no effect.