Common use of Calculation and Adjustment of the Grid Management Charge Clause in Contracts

Calculation and Adjustment of the Grid Management Charge. The Grid Management Charge shall be calculated by summing the Start Up and Development Costs, the Operating Costs, the Financing Costs and the Operating and Capital Cost Reserves Cost for each fiscal year. The sum of the calculation provided in this section shall be adjusted annually, or over such lesser period as approved by the ISO Governing Board and filed with the FERC, to reflect any variance between forecast and actual costs for the previous year or period, or the inability to recover from a Scheduling Coordinator its share of the Grid Management Charge, or any under-forecast of annual metered Demand for the previous year or period or any surplus revenues from the previous year or period as defined under Section 8.5. The result of the Grid Management Charge calculation, adjusted for variances as set out in this Section 8.4 shall then be divided by the forecast annual or periodic volume in MWh of Energy to establish a Grid Management Charge rate in $/MWh, which will be payable by Scheduling Coordinators as set out in Section 8.3.

Calculation and Adjustment of the Grid Management Charge. The Grid Management Charge shall be calculated by summing the Start Up and Development Costs, the Operating Costs, the Financing Costs and the Operating and Capital Cost Reserves Cost for each fiscal year. The sum of the calculation provided in this section shall be adjusted annually, or over such lesser period as approved by the ISO Governing Board and filed with the FERC, to reflect any variance between forecast and actual costs for the previous year or period, or the inability to recover from a Scheduling Coordinator its share of the Grid Management Charge, or any under-under- forecast of annual metered Demand for the previous year or period or any surplus revenues from the previous year or period as defined under Section 8.5. The result of the Grid Management Charge calculation, adjusted for variances as set out in this Section 8.4 shall then be divided by the forecast annual or periodic volume in MWh of Energy to establish a Grid Management Charge rate in $/MWh, which will be payable by Scheduling Coordinators as set out in Section 8.3.