2003 TPA – Key Electricity Provisions and How it Worked Sample Clauses

2003 TPA – Key Electricity Provisions and How it Worked. ‌ The 2003 TPA allowed for the recording of the price of energy transfers associated with BC Hydro’s energy surplus or deficit as well as the Residual System Capability while ensuring that Powerex’s net income represented value added from Powerex’s trading activities. As summarized in section 2.5.1 above, this was achieved through a combination of provisions that had the effect of setting a transfer price on the basis of the day-ahead wholesale market price of electricity at the Mid-C trading hub; allocating imports and exports in a given hour between BC Hydro and Powerex based on threshold prices, if set by BC Hydro; and tracking exports and imports related to Powerex’s trade activity in a Trade Account, with imports allocated to Powerex applied as a credit to the account and exports allocated to Powerex applied as a debit to the account, at the Weighted Average Price. A copy of the 2003 TPA is provided as Appendix C. The following sub-sections explain each of the key provisions in the 2003 TPA, with reference to specific clauses in that agreement.
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