National Grid 2008 Annual Report Download - page 314

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 61392
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 108
Description: EXH 2(B).6.1
0/4712.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/712/4*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 61392
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: EX-2.B.6.1, Doc: 6, Page: 108 Description: EXH 2(B).6.1
0/4712.00.00.00Y59930BNY
[E/O] EDGAR 2 *Y59930/712/4*
irradiated prior to 1983. The Nuclear Waste Act also provides three payment options for liquidatin
g
such liability and the
Company has elected to delay payment, with interest, until the year in which Constellation Ener
g
y Group Inc., which purchased
the Niagara Mohawk’s nuclear assets, initially plans to ship irradiated fuel to an approved DOE disposal facility. Pro
g
ress in
developin
g
the DOE facility has been slow and it is anticipated that the DOE facility will not be ready to accept deliveries until at
least 2010.
Long-Term Contracts for the Purchase of Electric Power
The Company’s subsidiaries have several types of long-term contracts for the purchase of electric power. The Company’s
commitments under these long-term contracts, as of March 31, 2007, are as follows:
If the Company’s subsidiaries need any additional ener
g
y to meet load requirements, they can purchase the electricity from
other independent power producers (IPPs) other utilities, other ener
g
y merchants or the open market throu
g
h the New York
Independent System Operator (NYISO) or the New England Independent System Operator (ISO – NE) at market prices.
Gas Supply, Storage and Pipeline Commitments
In connection with its regulated gas business, Niagara Mohawk and Narragansett have long-term commitments with a variety of
suppliers and pipelines to purchase
g
as commodity, provide
g
as stora
g
e capability and transport
g
as commodity on interstate
gas pipelines.
The table below sets forth the Company’s estimated commitments at March 31, 2007, for the next five years, and thereafter.
F-23
Fiscal Year Ended March 31, Amount
(In millions of
dollars
)
2008 $ 2,061
2009 1,274
2010 966
2011 397
2012 359
Thereafter 2,361
Total $ 7,418
Fiscal Year Ended March 31, Amount
(In millions of
dollars
)
2008 $513
2009 136
2010 85
2011 80
2012 29
Thereafter 45
Total $ 888