Collecting the Costs of the 2000 REP Settlements in Rates Sample Clauses

Collecting the Costs of the 2000 REP Settlements in Rates. ‌ In 1999, BPA commenced its 2002 Wholesale Power Rate Adjustment Proceeding (WP-02 rate proceeding) to establish rates for the five-year period beginning in FY 2002 (FY 2002–2006). In the WP-02 rate proceeding, BPA proposed to recover the cost of the 2000 REP Settlements in rates charged to BPA’s customers. The costs of the 2000 REP Settlements to be collected in rates came in two forms. First, the 2000 REP Settlements provided monetary benefits to the IOUs. These payments were expected to reach approximately $66 million per year for the five- year rate period. In addition to the monetary benefits, a power sale at a rate equivalent to the PF Preference rate was included in the 2000 REP Settlement package of benefits. The cost of providing these power sales to the IOUs under the 2000 REP Settlement was expected to be approximately $73 million per year for the five-year rate period. Together, the combination of payments and the below-market power sale was expected to result in a total cost in rates of about $140 million per year for FY 2002–2006. In setting the WP-02 rates, BPA characterized the costs of the 2000 REP Settlements as “settlement” costs rather than benefit payments provided under the REP. This characterization was significant because, for ratemaking purposes, the costs of the settlements were treated as normal business expenses that were allocable to all power rates (including the PF Preference rate) under section 7(g) of the Northwest Power Act rather than REP benefit payments that would be subject to the limitations set forth in section 7(b)(2). As viewed by BPA at the time, allocating the costs of the 2000 REP Settlement to the PF Preference rate without regard for section 7(b)(2) was permissible because the 2000 REP Settlements involved generic “settlement” payments, not payments of REP benefits under the exchange program established by section 5(c). BPA ultimately decided that the costs of the 2000 REP Settlement could be allocated to the PF Preference rate as a normal business cost under the general “equitably allocate” ratemaking principles established in section 7(g). 16 U.S.C. § 839e(g). After BPA executed the 2000 REP Settlements, the West Coast experienced an unprecedented spike in energy prices. A combination of low stream flows, high market prices, and an increase in demand for BPA power created a “perfect storm” for BPA. The West Coast energy crisis of 2000–2001 caused BPA to revise its rates and the 2000 REP Settlement benefits....
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Related to Collecting the Costs of the 2000 REP Settlements in Rates

  • DUTIES OF THE AGENTS IN CONNECTION WITH EARLY REDEMPTION 12.1 If the Issuer decides to redeem any Notes for the time being outstanding before their Maturity Date in accordance with the Conditions, the Issuer shall give notice of the decision to the Principal Paying Agent and, in the case of redemption of Registered Notes, the Registrar stating the date on which the Notes are to be redeemed and the nominal amount of Notes to be redeemed not less than 15 days before the date on which the Issuer will give notice to the Noteholders in accordance with the Conditions of the redemption in order to enable the Principal Paying Agent and, if applicable, the Registrar to carry out its duties in this Agreement and in the Conditions.

  • Net Out of Settlement Amounts The Non-Defaulting Party will aggregate all Settlement Amounts into a single amount by netting out (a) all amounts that are due to the Defaulting Party for Product that has been Delivered and not yet paid for, plus, at the option of the Non-Defaulting Party, any cash, security or other Performance Assurance then available to the Non-Defaulting Party, plus any or all other amounts due to the Defaulting Party under this Agreement against (b) all Settlement Amounts that are due to the Non-Defaulting Party, plus any or all other amounts due to the Non-Defaulting Party under this Agreement, so that all such amounts will be netted out to a single liquidated amount (the “Termination Payment”) payable by the Defaulting Party. The Termination Payment, if any, is due from the Defaulting Party to the Non-Defaulting Party within two Business Days following notice.

  • EXCLUDING YOURSELF FROM THE SETTLEMENT If you are a Settlement Class Member and you want to keep any right you may have to sue or continue to sue the Defendant and Released Parties on your own based on the legal claims raised in this lawsuit or released by the Released Claims, then you must take steps to get out of the Settlement. This is called excluding yourself from – or “opting-out” of – the Settlement.

  • Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:

  • Rollovers of Exxon Xxxxxx Settlement Payments If you receive a qualified settlement payment from Exxon Xxxxxx litigation, you may roll over the amount of the settlement, up to $100,000, reduced by the amount of any qualified Exxon Xxxxxx settlement income previously contributed to a Traditional or Xxxx XXX or eligible retirement plan in prior taxable years. You will have until your tax return due date (not including extensions) for the year in which the qualified settlement income is received to make the rollover contribution. To obtain more information on this type of rollover, you may wish to visit the IRS website at xxx.xxx.xxx.

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