Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by: (i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or (ii) requiring Seller to offer the Generating Facility into the MISO Real- Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to Xxxxx’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval. (b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
Appears in 7 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to XxxxxBuyer’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
Appears in 4 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to Xxxxx’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
(c) If Buyer exercises or is deemed to have exercised its curtailment rights pursuant to this Section 7.4, then, for any MISO Settlement Interval for which Buyer has exercised or is deemed to have exercised such rights:
(i) Seller shall provide to Buyer a calculation of the quantity of Contract Energy (up to the Expected Maximum Energy Amount) that would have been generated by the Generating Facility and delivered to Buyer at the Injection Point during such hour had Buyer not so exercised its curtailment rights or been deemed to have exercised such rights (determined according to this Agreement and Accepted Industry Practices using Generating Facility availability information, relevant weather conditions such as solar insolation, panel temperature, and other pertinent Generating Facility data for such hour, including, if applicable, wind speed and wind direction) (the “Curtailed Energy”), which calculation shall be subject to audit and dispute by Xxxxx;
(ii) Buyer shall pay to Seller, for each MWh of such Curtailed Energy,
(A) the Energy Price that would have been applicable to such Curtailed Energy, minus (B) either (1) if, using Commercially Reasonable Efforts, Seller could re-sell such Curtailed Energy in the MISO Markets or the energy markets of any other applicable Balancing Authority with an energy market or, if there are no applicable Balancing Authority energy markets, to another purchaser for a price that exceeds the amount in clause (2) below and Buyer does not expressly direct Seller not to re-sell such Curtailed Energy (in which case, Seller may not re-sell such Curtailed Energy), the net revenues received by Seller by re- selling such Curtailed Energy (or that would have been obtained by Seller had it used Commercially Reasonable Efforts to re-sell such Curtailed Energy) or (2) otherwise, the net costs saved plus any net revenues received by Seller (including, for any Contract Energy that cleared the MISO Day-Ahead Energy Market at the Injection Point, but then was curtailed pursuant to Section 7.4(a)(ii) and not generated, the difference equal to the price at which MISO settled the MISO Day-Ahead Energy Market at the Injection Point minus the price at which MISO settled the MISO Real-Time Energy Market at the Injection Point, expressed in $/MWh, as a result of not generating such Curtailed Energy (or that would have been saved and received by Seller if it had not generated such Curtailed Energy and used Commercially Reasonable Efforts to maximize net costs saved plus net revenues received); provided, however, that the amount determined pursuant to clause (B) above may not be less than zero (0) as a result of the sale of any such Curtailed Energy at negative prices or otherwise (and Buyer will not otherwise be responsible for any such negative amounts if Seller incurs them); provided further that, if the amount payable pursuant to this Section 7.4(c)(ii) is negative, Seller shall pay the absolute value of such amount to Buyer. The initial calculation of any amount payable pursuant to this Section 7.4(c)(ii) shall be performed by Seller in good faith and provided to Buyer (in reasonable detail and with reasonable supporting documentation) and shall thereafter be subject to audit and dispute by Xxxxx;
(iii) Such Curtailed Energy shall reduce the amount of Annual Guaranteed Energy Quantity as contemplated by clause (b) of the definition of Quantity Adjustment; and
(iv) For the avoidance of doubt, and without limiting Section 1.5, a Reliability Curtailment (A) shall not be considered an exercise (or deemed exercise) of Buyer’s rights under this Section 7.4 or a breach, default, or Event of Default or Potential Event of Default by Buyer or otherwise an act or omission of Buyer and (B) shall not give rise to Curtailed Energy or the compensation set forth in this Section 7.4.
Appears in 2 contracts
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to XxxxxBuyer’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
(c) If Buyer exercises or is deemed to have exercised its curtailment rights pursuant to this Section 7.4, then, for any MISO Settlement Interval for which Buyer has exercised or is deemed to have exercised such rights:
(i) Seller shall provide to Buyer a calculation of the quantity of Contract Energy (up to the Expected Maximum Energy Amount) that would have been generated by the Generating Facility and delivered to Buyer at the Injection Point during such hour had Buyer not so exercised its curtailment rights or been deemed to have exercised such rights (determined according to this Agreement and Accepted Industry Practices using Generating Facility availability information, relevant weather conditions such as solar insolation, panel temperature, and other pertinent Generating Facility data for such hour, including, if applicable, wind speed and wind direction) (the “Curtailed Energy”), which calculation shall be subject to audit and dispute by Buyer;
(ii) Buyer shall pay to Seller, for each MWh of such Curtailed Energy,
(A) the Energy Price that would have been applicable to such Curtailed Energy, minus (B) either (1) if, using Commercially Reasonable Efforts, Seller could re-sell such Curtailed Energy in the MISO Markets or the energy markets of any other applicable Balancing Authority with an energy market or, if there are no applicable Balancing Authority energy markets, to another purchaser for a price that exceeds the amount in clause (2) below and Buyer does not expressly direct Seller not to re-sell such Curtailed Energy (in which case, Seller may not re-sell such Curtailed Energy), the net revenues received by Seller by re- selling such Curtailed Energy (or that would have been obtained by Seller had it used Commercially Reasonable Efforts to re-sell such Curtailed Energy) or (2) otherwise, the net costs saved plus any net revenues received by Seller (including, for any Contract Energy that cleared the MISO Day-Ahead Energy Market at the Injection Point, but then was curtailed pursuant to Section 7.4(a)(ii) and not generated, the difference equal to the price at which MISO settled the MISO Day-Ahead Energy Market at the Injection Point minus the price at which MISO settled the MISO Real-Time Energy Market at the Injection Point, expressed in $/MWh, as a result of not generating such Curtailed Energy (or that would have been saved and received by Seller if it had not generated such Curtailed Energy and used Commercially Reasonable Efforts to maximize net costs saved plus net revenues received); provided, however, that the amount determined pursuant to clause (B) above may not be less than zero (0) as a result of the sale of any such Curtailed Energy at negative prices or otherwise (and Buyer will not otherwise be responsible for any such negative amounts if Seller incurs them); provided further that, if the amount payable pursuant to this Section 7.4(c)(ii) is negative, Seller shall pay the absolute value of such amount to Buyer. The initial calculation of any amount payable pursuant to this Section 7.4(c)(ii) shall be performed by Seller in good faith and provided to Buyer (in reasonable detail and with reasonable supporting documentation) and shall thereafter be subject to audit and dispute by Buyer;
(iii) Such Curtailed Energy shall reduce the amount of Annual Guaranteed Energy Quantity as contemplated by clause (b) of the definition of Quantity Adjustment; and
(iv) For the avoidance of doubt, and without limiting Section 1.5, a Reliability Curtailment (A) shall not be considered an exercise (or deemed exercise) of Buyer’s rights under this Section 7.4 or a breach, default, or Event of Default or Potential Event of Default by Buyer or otherwise an act or omission of Buyer and (B) shall not give rise to Curtailed Energy or the compensation set forth in this Section 7.4.
Appears in 2 contracts
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer Xxxxx shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the 49 NTD: Insert if the Facility is external to MISO. Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to Xxxxx’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
Appears in 1 contract
Samples: Power Purchase Agreement
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Real-Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to Xxxxx’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
(c) If Buyer exercises or is deemed to have exercised its curtailment rights pursuant to this Section 7.4, then, for any MISO Settlement Interval for which Buyer has exercised or is deemed to have exercised such rights:
(i) Seller shall provide to Buyer a calculation of the quantity of Contract Energy (up to the Expected Maximum Energy Amount) that would have been generated by the Facility and delivered to Buyer at the Injection Point during such hour had Buyer not so exercised its curtailment rights or been deemed to have exercised such rights (determined according to this Agreement and Accepted Industry Practices using Facility availability information, relevant weather conditions such as solar insolation, panel temperature, and other pertinent Facility data for such hour, including, if applicable, wind speed and wind direction) (the “Curtailed Energy”), which calculation shall be subject to audit and dispute by Xxxxx;
(ii) Buyer shall pay to Seller, for each MWh of such Curtailed Energy,
(A) the Energy Price that would have been applicable to such Curtailed Energy, minus (B) either (1) if, using Commercially Reasonable Efforts, Seller could re-sell such Curtailed Energy in the MISO Markets or the energy markets of any other applicable Balancing Authority with an energy market or, if there are no applicable Balancing Authority energy markets, to another purchaser for a price that exceeds the amount in clause (2) below and Buyer does not expressly direct Seller not to re-sell such Curtailed Energy (in which case, Seller may not re-sell such Curtailed Energy), the net revenues received by Seller by re- selling such Curtailed Energy (or that would have been obtained by Seller had it used Commercially Reasonable Efforts to re-sell such Curtailed Energy) or (2) otherwise, the net costs saved plus any net revenues received by Seller (including, for any Contract Energy that cleared the MISO Day-Ahead Energy Market at the Injection Point, but then was curtailed pursuant to Section 7.4(a)(ii) and not generated, the difference equal to the price at which MISO settled the MISO Day-Ahead Energy Market at the Injection Point minus the price at which XXXX settled the MISO Real-Time Energy Market at the Injection Point, expressed in $/MWh, as a result of not generating such Curtailed Energy (or that would have been saved and received by Seller if it had not generated such Curtailed Energy and used Commercially Reasonable Efforts to maximize net costs saved plus net revenues received); provided, however, that the amount determined pursuant to clause (B) above may not be less than zero (0) as a result of the sale of any such Curtailed Energy at negative prices or otherwise (and Buyer will not otherwise be responsible for any such negative amounts if Seller incurs them); provided further that, if the amount payable pursuant to this Section 7.4(c)(ii) is negative, Seller shall pay the absolute value of such amount to Buyer. The initial calculation of any amount payable pursuant to this Section 7.4(c)(ii) shall be performed by Seller in good faith and provided to Buyer (in reasonable detail and with reasonable supporting documentation) and shall thereafter be subject to audit and dispute by Xxxxx;
(iii) Such Curtailed Energy shall reduce the amount of Annual Guaranteed Energy Quantity as contemplated by clause (b) of the definition of Quantity Adjustment; and
(iv) For the avoidance of doubt, and without limiting Section 1.5, a Reliability Curtailment (A) shall not be considered an exercise (or deemed exercise) of Buyer’s rights under this Section 7.4 or a breach, default, or Event of Default or Potential Event of Default by Buyer or otherwise an act or omission of Buyer and (B) shall not give rise to Curtailed Energy or the compensation set forth in this Section 7.4.
Appears in 1 contract
Samples: Power Purchase Agreement
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer Xxxxx shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the 49 NTD: Insert if the Facility is external to MISO. Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to Xxxxx’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
(c) If Buyer exercises or is deemed to have exercised its curtailment rights pursuant to this Section 7.4, then, for any MISO Settlement Interval for which Buyer has exercised or is deemed to have exercised such rights:
(i) Seller shall provide to Buyer a calculation of the quantity of Contract Energy (up to the Expected Maximum Energy Amount) that would have been generated by the Generating Facility and delivered to Buyer at the Injection Point during such hour had Buyer not so exercised its curtailment rights or been deemed to have exercised such rights (determined according to this Agreement and Accepted Industry Practices using Generating Facility availability information, relevant weather conditions such as wind speed, wind direction, ambient temperature, relative humidity and other pertinent Generating Facility data for such hour) (the “Curtailed Energy”), which calculation shall be subject to audit and dispute by Xxxxx;
(ii) Buyer shall pay to Seller, for each MWh of such Curtailed Energy, (A) the Energy Price that would have been applicable to such Curtailed Energy, minus (B) either (1) if, using Commercially Reasonable Efforts, Seller could re-sell such Curtailed Energy in the MISO Markets or the energy markets of any other applicable
(iii) Such Curtailed Energy shall reduce the amount of Annual Guaranteed Energy Quantity as contemplated by clause (b) of the definition of Quantity Adjustment; and
(iv) For the avoidance of doubt, and without limiting Section 1.5, a Reliability Curtailment (A) shall not be considered an exercise (or deemed exercise) of Buyer’s rights under this Section 7.4 or a breach, default, or Event of Default or Potential Event of Default by Buyer or otherwise an act or omission of Buyer and (B) shall not give rise to Curtailed Energy or the compensation set forth in this Section 7.4.
Appears in 1 contract
Samples: Power Purchase Agreement
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to Xxxxx’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
(c) If Buyer exercises or is deemed to have exercised its curtailment rights pursuant to this Section 7.4, then, for any MISO Settlement Interval for which Buyer has exercised or is deemed to have exercised such rights:
(i) Seller shall provide to Buyer a calculation of the quantity of Contract Energy (up to the Expected Maximum Energy Amount) that would have been generated by the Generating Facility and delivered to Buyer at the Injection Point during such hour had Buyer not so exercised its curtailment rights or been deemed to have exercised such rights (determined according to this Agreement and Accepted Industry Practices using Generating Facility availability information, relevant weather conditions such as wind speed, wind direction, ambient temperature, relative humidity and other pertinent Generating Facility data for such hour) (the “Curtailed Energy”), which calculation shall be subject to audit and dispute by Xxxxx;
(ii) Buyer shall pay to Seller, for each MWh of such Curtailed Energy, (A) the Energy Price that would have been applicable to such Curtailed Energy, minus
(iii) Such Curtailed Energy shall reduce the amount of Annual Guaranteed Energy Quantity as contemplated by clause (b) of the definition of Quantity Adjustment; and
(iv) For the avoidance of doubt, and without limiting Section 1.5, a Reliability Curtailment (A) shall not be considered an exercise (or deemed exercise) of Buyer’s rights under this Section 7.4 or a breach, default, or Event of Default or Potential Event of Default by Buyer or otherwise an act or omission of Buyer and (B) shall not give rise to Curtailed Energy or the compensation set forth in this Section 7.4.
Appears in 1 contract
Samples: Power Purchase Agreement
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Time Energy Market at the Injection Electric Interconnection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to XxxxxBuyer’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Electric Interconnection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
(c) If Buyer exercises or is deemed to have exercised its curtailment rights pursuant to this Section 7.4, then, for any MISO Settlement Interval for which Buyer has exercised or is deemed to have exercised such rights:
(i) Seller shall provide to Buyer a calculation of the quantity of Contract Energy (up to the Expected Maximum Energy Amount) that would have been generated by the Generating Facility and delivered to Buyer at the Electric Interconnection Point during such hour had Buyer not so exercised its curtailment rights or been deemed to have exercised such rights (determined according to this Agreement and Accepted Industry Practices using Generating Facility availability information, relevant weather conditions such as solar insolation, panel temperature, and other pertinent Generating Facility data for such hour, including, if applicable, wind speed and wind direction) (the “Curtailed Energy”), which calculation shall be subject to audit and dispute by Xxxxx;
(ii) Buyer shall pay to Seller, for each MWh of such Curtailed Energy,
(A) the Energy Price that would have been applicable to such Curtailed Energy, minus (B) either (1) if, using Commercially Reasonable Efforts, Seller could re-sell such Curtailed Energy in the MISO Markets or the energy markets of any other applicable Balancing Authority with an energy market or, if there are no applicable Balancing Authority energy markets, to another purchaser for a price that exceeds the amount in clause (2) below and Buyer does not expressly direct Seller not to re-sell such Curtailed Energy (in which case, Seller may not re-sell such Curtailed Energy), the net revenues received by Seller by re- selling such Curtailed Energy (or that would have been obtained by Seller had it used Commercially Reasonable Efforts to re-sell such Curtailed Energy) or (2) otherwise, the net costs saved plus any net revenues received by Seller (including, for any Contract Energy that cleared the MISO Day-Ahead Energy Market at the Electric Interconnection Point, but then was curtailed pursuant to Section 7.4(a)(ii) and not generated, the difference equal to the price at which MISO settled the MISO Day-Ahead Energy Market at the Electric Interconnection Point minus the price at which MISO settled the MISO Real-Time Energy Market at the Electric Interconnection Point, expressed in $/MWh, as a result of not generating such Curtailed Energy (or that would have been saved and received by Seller if it had not generated such Curtailed Energy and used Commercially Reasonable Efforts to maximize net costs saved plus net revenues received); provided, however, that the amount determined pursuant to clause (B) above may not be less than zero (0) as a result of the sale of any such Curtailed Energy at negative prices or otherwise (and Buyer will not otherwise be responsible for any such negative amounts if Seller incurs them); provided further that, if the amount payable pursuant to this Section 7.4(c)(ii) is negative, Seller shall pay the absolute value of such amount to Buyer. The initial calculation of any amount payable pursuant to this Section 7.4(c)(ii) shall be performed by Seller in good faith and provided to Buyer (in reasonable detail and with reasonable supporting documentation) and shall thereafter be subject to audit and dispute by Xxxxx;
(iii) Such Curtailed Energy shall reduce the amount of Annual Guaranteed Energy Quantity as contemplated by clause (b) of the definition of Quantity Adjustment; and
(iv) A Reliability Curtailment (A) shall not be considered an exercise (or deemed exercise) of Buyer’s rights under this Section 7.4 or a breach, default, or Event of Default or Potential Event of Default by Buyer or otherwise an act or omission of Buyer and (B) shall not give rise to Curtailed Energy or the compensation set forth in this Section 7.4.
Appears in 1 contract
Samples: Power Purchase Agreement
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Real-Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to XxxxxBuyer’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
(c) If Buyer exercises or is deemed to have exercised its curtailment rights pursuant to this Section 7.4, then, for any MISO Settlement Interval for which Buyer has exercised or is deemed to have exercised such rights:
(i) Seller shall provide to Buyer a calculation of the quantity of Contract Energy (up to the Expected Maximum Energy Amount) that would have been generated by the Facility and delivered to Buyer at the Injection Point during such hour had Buyer not so exercised its curtailment rights or been deemed to have exercised such rights (determined according to this Agreement and Accepted Industry Practices using Facility availability information, relevant weather conditions such as solar insolation, panel temperature, and other pertinent Facility data for such hour, including, if applicable, wind speed and wind direction) (the “Curtailed Energy”), which calculation shall be subject to audit and dispute by Buyer;
(ii) Buyer shall pay to Seller, for each MWh of such Curtailed Energy,
(A) the Energy Price that would have been applicable to such Curtailed Energy, minus (B) either (1) if, using Commercially Reasonable Efforts, Seller could re-sell such Curtailed Energy in the MISO Markets or the energy markets of any other applicable Balancing Authority with an energy market or, if there are no applicable Balancing Authority energy markets, to another purchaser for a price that exceeds the amount in clause (2) below and Buyer does not expressly direct Seller not to re-sell such Curtailed Energy (in which case, Seller may not re-sell such Curtailed Energy), the net revenues received by Seller by re- selling such Curtailed Energy (or that would have been obtained by Seller had it used Commercially Reasonable Efforts to re-sell such Curtailed Energy) or (2) otherwise, the net costs saved plus any net revenues received by Seller (including, for any Contract Energy that cleared the MISO Day-Ahead Energy Market at the Injection Point, but then was curtailed pursuant to Section 7.4(a)(ii) and not generated, the difference equal to the price at which MISO settled the MISO Day-Ahead Energy Market at the Injection Point minus the price at which MISO settled the MISO Real-Time Energy Market at the Injection Point, expressed in $/MWh, as a result of not generating such Curtailed Energy (or that would have been saved and received by Seller if it had not generated such Curtailed Energy and used Commercially Reasonable Efforts to maximize net costs saved plus net revenues received); provided, however, that the amount determined pursuant to clause (B) above may not be less than zero (0) as a result of the sale of any such Curtailed Energy at negative prices or otherwise (and Buyer will not otherwise be responsible for any such negative amounts if Seller incurs them); provided further that, if the amount payable pursuant to this Section 7.4(c)(ii) is negative, Seller shall pay the absolute value of such amount to Buyer. The initial calculation of any amount payable pursuant to this Section 7.4(c)(ii) shall be performed by Seller in good faith and provided to Buyer (in reasonable detail and with reasonable supporting documentation) and shall thereafter be subject to audit and dispute by Buyer;
(iii) Such Curtailed Energy shall reduce the amount of Annual Guaranteed Energy Quantity as contemplated by clause (b) of the definition of Quantity Adjustment; and
(iv) For the avoidance of doubt, and without limiting Section 1.5, a Reliability Curtailment (A) shall not be considered an exercise (or deemed exercise) of Buyer’s rights under this Section 7.4 or a breach, default, or Event of Default or Potential Event of Default by Buyer or otherwise an act or omission of Buyer and (B) shall not give rise to Curtailed Energy or the compensation set forth in this Section 7.4.
Appears in 1 contract
Samples: Power Purchase Agreement
Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by:
(i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or
(ii) requiring Seller to offer the Generating Facility into the MISO Real- Real-Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to Xxxxx’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval.
(b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
(c) If Buyer exercises or is deemed to have exercised its curtailment rights pursuant to this Section 7.4, then, for any MISO Settlement Interval for which Buyer has exercised or is deemed to have exercised such rights:
(i) Seller shall provide to Buyer a calculation of the quantity of Contract Energy (up to the Expected Maximum Energy Amount) that would have been generated by the Facility and delivered to Buyer at the Injection Point during such hour had Buyer not so exercised its curtailment rights or been deemed to have exercised such rights (determined according to this Agreement and Accepted Industry Practices using Facility availability information, relevant weather conditions such as solar insolation, panel temperature, and other pertinent Facility data for such hour, including, if applicable, wind speed and wind direction) (the “Curtailed Energy”), which calculation shall be subject to audit and dispute by Xxxxx;
(ii) Buyer shall pay to Seller, for each MWh of such Curtailed Energy, (A) the Energy Price that would have been applicable to such Curtailed Energy, minus
(iii) Such Curtailed Energy shall reduce the amount of Annual Guaranteed Energy Quantity as contemplated by clause (b) of the definition of Quantity Adjustment; and
(iv) For the avoidance of doubt, and without limiting Section 1.5, a Reliability Curtailment (A) shall not be considered an exercise (or deemed exercise) of Buyer’s rights under this Section 7.4 or a breach, default, or Event of Default or Potential Event of Default by Buyer or otherwise an act or omission of Buyer and (B) shall not give rise to Curtailed Energy or the compensation set forth in this Section 7.4.
Appears in 1 contract
Samples: Power Purchase Agreement
