PSI Energy, Inc. v. Exxon Coal USA, Inc.

ENTRY

BARKER, District Judge.

PSI Energy, Inc. (“PSI”) and Exxon are signatories to a twenty-five year contract (the “Contract”) which requires Exxon to supply coal to ESI through the year 2001, subject to the parties agreeing at five-year intervals to a new base price (the “Base”) and escalation provisions (“Exhibit A”) which together determine the actual price of the coal (the “Price”). The last renegotiation period ended on December 31, 1992. Long before that deadline, however, the parties realized that they were unable to agree on the meaning of Article VII to the Contract (the “reopener…