§ 30-155 — Rights of certificate holders; cancellation or amendment of certificate

A. The holder of a certificate may enter into a contract or contracts for the purchase of electrical energy generated by the waters of the main stream of the Colorado river, and the rights of the holder of a certificate may not be abrogated, modified or amended without consent of the holder, except as provided in this section.

B. The authority may cancel a certificate if the holder does not, within six months from the date when electrical energy is first available to the holder, actually and in good faith begin rendering the service or using the electrical energy for the purpose for which the certificate was issued, unless the authority, upon written application, has for good cause shown, prior to the expiration of such period, extended the time for beginning the service or use.

C. The holder of a power purchase certificate may apply to the authority for amendment of its certificate to include additional territory. All provisions of this article relating to original applications for power purchase certificates shall apply to any application for amendment.

D. Any person or operating unit holding a power purchase certificate and otherwise qualified under the provisions of this chapter to purchase electrical energy may sell the energy at wholesale to any other person or operating unit holding a power purchase certificate, but the use of the electrical energy by the purchaser shall be confined to the uses and the territory for which the purchaser holds a certificate.