Common use of Availability Guaranty Clause in Contracts

Availability Guaranty. The Capacity Payment paid or payable in each month shall be subject to adjustment (by the Seller paying a rebate or earning a bonus, as the case may be) so as to equal the Adjusted Capacity Payment (“ACP”). Where: If EA > 0.97 for the Summer Season or > 0.94 for the Winter Season ACP = [1+ (EA-Bonus Target EA)/ Bonus Target EA)] x [capacity payment paid or payable]. If EA≤ 0.97 for the Summer Season or ≤ 0.94 for the Winter Season ACP = [lesser of: 1.0 and 1- (2*(Target XX-XX)/Target EA)] x [capacity payment paid or payable]. EA = (Summation of Hourly Availability Factors for Monthly Availability Hours) / (# of Monthly Availability Hours in month) Hourly Availability Factor is determined for each Monthly Availability Hour as the quotient of (a) the capacity reflected in Seller’s Availability Notice applicable for such hour, divided by (b) the Hourly Ambient Capacity for such hour. Bonus Target EA = 0.97 for the Summer Season or 0.94 for the Winter Season. Target EA = 0.95 for the Summer Season or 0.92 for the Winter Season. The Summer Season is the months May through October. The Winter Season is the months November through April.

Availability Guaranty. The Capacity Payment Ccapacity Ppayment paid or payable in each month shall be subject to adjustment (by the Seller paying a rebate or earning a bonus, as the case may be) so as to equal the Adjusted Capacity Payment (“ACP”). Where: If EA > 0.97 for the Summer Season or > 0.94 for the Winter Season ACP = [1+ (EA-Bonus Target EA)/ Bonus Target EA)] x [capacity payment paid or payable]. If EA≤ 0.97 for the Summer Season or ≤ 0.94 for the Winter Season ACP = [lesser of: 1.0 and 1- (2*(Target XX-XX)/Target EA)] x [capacity payment paid or payable]. EA = (Summation of Hourly Availability Factors for Monthly Availability Hours) / (# of Monthly Availability Hours in month) Hourly Availability Factor is determined for each Monthly Availability Hour as the quotient of (a) the capacity reflected in Seller’s Availability Notice applicable for such hour, divided by (b) the Hourly Ambient Capacity for such hour. Bonus Target EA = 0.97 for the Summer Season or 0.94 for the Winter Season. Target EA = 0.95 for the Summer Season or 0.92 for the Winter Season. The Summer Season is the months May through October. The Winter Season is the months November through April.

Availability Guaranty. The Capacity Payment paid or payable in each month shall be subject to adjustment (by the Seller paying a rebate or earning a bonus, as the case may be) so as to equal the Adjusted Capacity Payment (“ACP”). Where: If EA > 0.97 for the Summer Season or > 0.94 for the Winter Season ACP = [1+ (EA-Bonus Target EA)/ Bonus Target EA)] x [capacity payment paid or payable]. If EA≤ EA£ 0.97 for the Summer Season or ≤ £ 0.94 for the Winter Season ACP = [lesser of: 1.0 and 1- (2*(Target XX-XX)/Target EA)] x [capacity payment paid or payable]. EA = (Summation of Hourly Availability Factors for Monthly Availability Hours) / (# of Monthly Availability Hours in month) Hourly Availability Factor is determined for each Monthly Availability Hour as the quotient of (a) the capacity reflected in Seller’s Availability Notice applicable for such hour, divided by (b) the Hourly Ambient Capacity for such hour. Bonus Target EA = 0.97 for the Summer Season or 0.94 for the Winter Season. Target EA = 0.95 for the Summer Season or 0.92 for the Winter Season. The Summer Season is the months May through October. The Winter Season is the months November through April.