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<br />. Senate Bill 7, based upon input from TML, established franchise payments <br />based upon the amount of electricity delivered and the franchise amounts <br />paid in 1998. <br /> <br />. $ Paid in Franchise Fees in 1998 = Franchise Factor <br />Kwhr Delivered in 1998 <br /> <br />. During subsequent years, franchise fees were paid using the franchise <br />factor <br /> <br />Franchise Factor x Kwhr Delivered = Franchise Payment <br /> <br />. Proposal- franchise payments will be set as the greater amount of a) the <br />averae of the two (2) highest years from 1998 to 2005 or b) the highest <br />deregulation payment. <br /> <br />. Provision for annual adjustment. <br /> <br />. Annual Adjustment <br /> <br />Annual Adjustment Factor = <br /> <br />Year "X" Kwhr <br />2005 Kwhr <br />