APPROVAL BY THE ENERGY COMMISSION OF CONTRACT

APPROVED BY THE PUBLIC PRIVATE PARTNERSHIP AUTHORITY UNDER ACT 29-2009 AND SECTION 6C OF ACT 83 OF MAY 2, 1941, AS AMENDED 9.1 If for the procurement of a project the Authority determines that the process and scope of this Regulation is not adequate, the Authority has the option of submitting to the Public Private Partnership Authority ("PPP Authority") the contemplated project to be procured following the process of Act 29-2009 as modified by Section 6C of Act 83 of May 2, 1941, as amended ("Act 29"). Prior to submitting such contemplated project, the Authority shall obtain the approval of the Energy Commission with respect to the scope of the project and its consistency with the IRP, the Acts and other laws and regulations related to procurement processes by the PPP Authority and the powers of the Energy Commission. To the extent feasible and available at this stage, the Authority shall also propose to the Energy Commission for approval, a range of profit margin and price escalator parameters in connection with such project. The Energy Commission shall ensure that the Proposed project and contract terms, if available, are consistent with the IRP. If the proposed profit margins and pricing escalators parameters are available and presented to the Energy Commission, the Commission shall also ensure that they are acceptable to the Commission. The process for the evaluation and approval of the Commission shall follow the process set forth in Section 4.2 of this Regulation. 9.2 Once submitted to the PPP Authority, this Regulation shall not apply, but the final Contract negotiated and approved pursuant to such Act 29 process shall be submitted to the Energy Commission for verification and determination that its terms, and any change to the -43- scope of the Project, if any, do not render it inconsistent with the IRP and that the profit margin and price escalators in the Contract comply with the parameters previously approved by the Energy Commission or, if not previously presented to and approved by the Energy Commission, are otherwise acceptable to the Energy Commission.