EX-10.8 13 a74807gex10-8.txt EXHIBIT 10.8 1 EXHIBIT 10.8 EXELON GENERATION COMPANY, LLC CONFIRMATION AGREEMENT EXELON GENERATION COMPANY, LLC, CONFIRMATION AGREEMENT TO: Ian Carter COMPANY: Commonwealth Energy Corporation (d/b/a electricAMERICA) This confirmation letter ("Letter") shall confirm the agreement reached on May 18, 2001, between Commonwealth Energy Corporation and Exelon Generation Company, LLC, for the sale and purchase under the terms and conditions as follows: Buyer: Commonwealth Energy Corporation (d/b/a electricAMERICA) ("Buyer") Seller: Exelon Generation Company, LLC ("Seller") Product: Around the clock energy Term: 36 months Start Date: Hour Ending 0100 June 1, 2001 End Date: Hour Ending 2400 May 31, 2004 Delivery Point: Western Hub of PJM Interconnection Transmission: Buyer responsible for transmission costs beyond Delivery Point Amount: 50 MW per hour for the Term Total Amount: 1,315,200 MWh Price: $35.85/MWh for the Term Buyer's Credit Support: Buyer will provide to Seller a Letter of Credit ("LOC"), issued by a financial institution acceptable to Seller, in the amount of $2.6 million. The LOC will be effective for the Term, with an expiration date of June 1, 2004. Wire Transfer Information: Payment will be made to the following: Mellon Bank Philadelphia, PA ABA# 031-000-037 Credit: Exelon Generation Company, LLC Account: 2216604 Scheduling: Seller will schedule this transaction in day-ahead eSchedules, or its successor Buyer will confirm day-ahead eSchedules contract. Tariff: This sale shall take place, be billed, paid for, and treated confidentially pursuant to the terms of Exelon Generation Company's FERC Electric Tariff Volume No. 1. 1 2 IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed this Agreement by the undersigned duly authorized representatives as of the date of this Agreement. Exelon Generation Company, LLC Commonwealth Energy Corporation (d/b/a electricAMERICA) By:/s/ Ian McLean By: /s/ Ian B. Carter ----------------------------- ----------------------------- Name: Ian McLean Name: Ian B. Carter Title: Senior Vice President Title: Chairman & CEO Date: 5/13/01 Date: 6/01/01 2