Letter Agreement Amending Power Purchase and Sale Agreement between Freeport-McMoRan Copper & Gold Energy Services, LLC and El Paso Electric Company
This letter agreement between Freeport-McMoRan Copper & Gold Energy Services, LLC and El Paso Electric Company extends the quantity of energy to be purchased and sold under their existing Power Purchase and Sale Agreement. The parties agree to maintain the energy quantity at 125 megawatts per hour through December 31, 2013, instead of reverting to 100 megawatts per hour at the end of 2011. The agreement also clarifies the calculation of firm energy that may be dispatched. Both parties must acknowledge the amendment by signing the letter.
Exhibit 10.04
 | P.O. Box 982 El Paso, Texas 79960-0982 (915) 543-4067 | |||||
David Hawkins
Director, Energy Trading
El Paso Electric Company
April 29, 2011
Mr. Don Stoneberger
Freeport-McMoRan Copper & Gold Energy Services
333 North Central Avenue Suite 21.021
Phoenix, AZ 85004
| Re: | Power Purchase and Sale Agreement between |
Freeport-McMoRan Copper & Gold Energy Services, LLC and
El Paso Electric Company
Dear Mr. Stoneberger,
Pursuant to Section 3.4 of the Power Purchase and Sale Agreement (“Agreement”) between Freeport-McMoRan Copper & Gold Energy Services, LLC (“FMES”) (formerly, Phelps Dodge Energy Services, LLC) and El Paso Electric Company (“EPE”), FMES and EPE (collectively the “Parties”) hereby agree to maintain the quantity of energy to be purchased and sold under Sections 3.1 and 3.2 of the Agreement at 125 MW per hour through 11:59 p.m. Mountain Standard Time on December 31, 2013. The Parties further agree that the quantity of firm energy that may be dispatched by EPE pursuant to Section 3.6 of the Agreement is 125 MW per hour, less the quantity of energy sold and delivered by FMES pursuant to Section 3.1. The amount of energy to be purchased and sold under the Agreement was set to revert to the original base contract amount of 100 MW per hour, on 11:59 p.m. Mountain Standard Time on December 31, 2011, based on a November 12, 2010 agreement between the Parties.
Please indicate FMES’ acknowledgement of the foregoing agreement by signing this letter in the place indicated below and returning the original or a copy thereof to my attention at your earliest convenience.
Sincerely,
/s/ David Hawkins
David Hawkins
Freeport-McMoRan Copper & Gold Energy Services, LLC By:
| By: | /s/ Don Stoneberger |
