Nebraska Statutes 70-626.01. Generating power agency; duty to sell electrical energy; when
A district, individual municipality, or group of municipalities registered with the Nebraska Power Review Board which is engaged in the generation and transmission of electrical energy, all of which are referred to in Chapter 70, article 6, by the term generating power agency, shall be required to sell electrical energy at wholesale under the terms and conditions of a fair and reasonable contract directly to any municipality, registered group of municipalities, district, political subdivision in the state, or any nonprofit electric cooperative corporation organized under Chapter 70, article 7, all of which are referred to in Chapter 70, article 6, by the term distribution power agency, when such distribution power agency makes application for the purchase of electrical energy, if such sale is not in violation of an agreement of the generating power agency approved by the Nebraska Power Review Board and such generating power agency has the requested amount of electrical energy available for sale, and the distribution power agency agrees to make or pay for the necessary physical connection with the electrical facilities of such generating power agency.
Terms Used In Nebraska Statutes 70-626.01
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801