Electricity Purchase Agreements

12 Months Ended

Dec. 31, 2013

Electricity Purchase Agreements

Note I – Electricity Purchase Agreements

CECONY has long-term electricity purchase agreements with non-utility generators and others for generating capacity. The company recovers its purchased power costs in accordance with provisions approved by the NYSPSC. See “Recoverable Energy Costs” in Note A.

At December 31, 2013, the significant terms of the electricity purchase agreements were as follows:

Facility	Equity Owner	Plant Output (MW)		Contracted Output (MW)		Contract Start Date		Contract Term (Years)
Indian Point	Entergy Nuclear Power Marketing, LLC		1,299		500		August 2001		16
Independence	Sithe/Independence Power Partners, LP		1,254		689		November 1994		20
Linden Cogeneration	Cogen Technologies Linden Venture, LP		1,035		546		May 1992		25
Astoria Energy	Astoria Energy, LLC		640		500		May 2006		10
Selkirk	Selkirk Cogen Partners, LP		446		265		September 1994		20
Brooklyn Navy Yard	Brooklyn Navy Yard Cogeneration Partners, LP		322		217		November 1996		40
Indeck Corinth	Indeck Energy Services of Corinth, Inc.		147		132		July 1995		20

Assuming performance by the parties to the electricity purchase agreements, CECONY is obligated over the terms of the agreements to make capacity and other fixed payments.

The future capacity and other fixed payments under the contracts are estimated to be as follows:

(Millions of Dollars)	2014		2015		2016		2017		2018		All Years Thereafter
CECONY	$	447	$	235	$	169	$	113	$	57	$	875

For energy delivered under most of the electricity purchase agreements, CECONY is obligated to pay variable prices. The company’s payments under the agreements for capacity, energy and other fixed payments in 2013, 2012, and 2011 were as follows:

	For the Years Ended December 31,
(Millions of Dollars)	2013		2012		2011
Linden Cogeneration	$	346	$	297	$	379
Indian Point		220		204		238
Selkirk		215		196		209
Astoria Energy		183		181		225
Independence		121		127		121
Brooklyn Navy Yard		118		93		123
Indeck Corinth		79		66		77
Total	$	1,282	$	1,164	$	1,372

CECONY [Member]

Electricity Purchase Agreements

Note I – Electricity Purchase Agreements

CECONY has long-term electricity purchase agreements with non-utility generators and others for generating capacity. The company recovers its purchased power costs in accordance with provisions approved by the NYSPSC. See “Recoverable Energy Costs” in Note A.

At December 31, 2013, the significant terms of the electricity purchase agreements were as follows:

Facility	Equity Owner	Plant Output (MW)		Contracted Output (MW)		Contract Start Date		Contract Term (Years)
Indian Point	Entergy Nuclear Power Marketing, LLC		1,299		500		August 2001		16
Independence	Sithe/Independence Power Partners, LP		1,254		689		November 1994		20
Linden Cogeneration	Cogen Technologies Linden Venture, LP		1,035		546		May 1992		25
Astoria Energy	Astoria Energy, LLC		640		500		May 2006		10
Selkirk	Selkirk Cogen Partners, LP		446		265		September 1994		20
Brooklyn Navy Yard	Brooklyn Navy Yard Cogeneration Partners, LP		322		217		November 1996		40
Indeck Corinth	Indeck Energy Services of Corinth, Inc.		147		132		July 1995		20

Assuming performance by the parties to the electricity purchase agreements, CECONY is obligated over the terms of the agreements to make capacity and other fixed payments.

The future capacity and other fixed payments under the contracts are estimated to be as follows:

(Millions of Dollars)	2014		2015		2016		2017		2018		All Years Thereafter
CECONY	$	447	$	235	$	169	$	113	$	57	$	875

For energy delivered under most of the electricity purchase agreements, CECONY is obligated to pay variable prices. The company’s payments under the agreements for capacity, energy and other fixed payments in 2013, 2012, and 2011 were as follows:

	For the Years Ended December 31,
(Millions of Dollars)	2013		2012		2011
Linden Cogeneration	$	346	$	297	$	379
Indian Point		220		204		238
Selkirk		215		196		209
Astoria Energy		183		181		225
Independence		121		127		121
Brooklyn Navy Yard		118		93		123
Indeck Corinth		79		66		77
Total	$	1,282	$	1,164	$	1,372