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CONFIDENTIAL <br /> SCHEDULE C <br /> Page l of l <br /> MINNESOTA MUNICIPAL POWER AGENCY <br /> RATE SCHEDULE <br /> 1. Applicability. Electric power and energy service for all requirements(except as other <br /> sources are permitted by the terms of the Power Sales Agreement to which this Schedule <br /> is appended)of the Member for use by the Member and the Members customers. <br /> 2. Availability. This Schedule is available to the Member of the Agency purchasing <br /> electric power and energy under the terms of the Power Sales Agreement. <br /> 3. Character of Service Electric power and energy provided under this Schedule shall be <br /> delivered to the Point(s)of Delivery set forth in Schedule B and shall be sixty hertz,three <br /> phase,alternating current. <br /> 4. Billing Rates. Member rates are set by the Agency's Board of Directors on an annual <br /> basis. <br /> 5. Billing Metering, The kW metered demand in each billing period shall be the highest 15 <br /> minute demand integrated measured during the billing period. When electric power and <br /> energy is delivered to more than one Point of Metering,the maximum total coincident <br /> demand of the Member's system shall be determined by combining the recorded demand <br /> for each Point of Metering during the same 15 minute interval. <br /> 6. Billing Demand. The billing demand for any billing period shall be the greater of(a)the <br /> metered demand for the period as determined under paragraph 5,or(b)50 percent of the <br /> maximum metered demand during the summer(June through September)billing periods <br /> for the most recent twelve billing periods. <br /> 7. Energy Cost Adjustment. When the Agency's actual cost of energy in any billing period <br /> is greater or lesser than the energy rate set by the Board of Directors for the billing <br /> period,this rate will be increased or decreased by an amount equal to the product of the <br /> measured kWh of energy purchased by the Member during the billing period and the <br /> amount by which the actual cost of energy expressed in dollars per kWh is greater or <br /> lesser than the energy rate set by the Board of Directors. <br /> 8. Late Payment Charge. The Agency may impose a late payment charge on the unpaid <br /> balance of any amount not paid when due at the interest rate specified in the Power Sales <br /> Agreement. <br /> 9. Billing Period. The billing period shall be in accordance with a schedule established by <br /> the Agency. <br /> 15 <br /> • <br />