Common use of Commodity Charge Clause in Contracts

Commodity Charge. Unless the Utility elects to lock a fixed price with GASMARK in accordance with Section 5.2(c), Utility shall not be obligated to purchase or receive any Natural Gas from GASMARK under this Agreement. For all quantities of Natural Gas sold and delivered by GASMARK, Utility shall pay a commodity charge, which shall be determined pursuant to the following alternatives: (a) For deliveries made pursuant to a Nomination, up to the MDQ, MHQ and TWE, the commodity charge for the quantity delivered shall be equal to the sum of: (i) the NYMEX settlement price for the month of delivery; plus (ii) a commodity adder equal to the NYMEX settlement price multiplied by .1628, which adder shall cover applicable fuel and commodity charges to the Delivery Points. (b) Utility shall have the right at any time to lock-in a fixed commodity charge for all or a portion of the Total Winter Entitlement, for delivery during a future month of the Winter Season. The commodity charges for locked-in quantities shall be as agreed to by the Parties based on prevailing market conditions at the time the lock-in is made. Utility's right to lock in a quantity of Natural Gas shall be limited as follows: (i) The maximum quantity of Natural Gas for which the Utility may lock in a fixed commodity charge shall equal the TWE less any quantities already delivered during the Winter Season and any quantities previously locked in for the Winter Season. (ii) Unless otherwise agreed, Utility shall notify GASMARK of its intention to lock-in the commodity charge by no later than 10:00 a.m. on the last trading day for the NYMEX natural gas contract to the month in which such lock-in will apply. Such notice shall identify the quantity of Natural Gas to be locked in. GASMARK will promptly communicate to Utility any limitations on the lock-in quantity identified in Utility's notice, and the Parties will utilize commercially reasonable efforts to facilitate the lock in to the extent practicable. (iii) If Utility has locked in a fixed price, Utility shall be required to purchase and take delivery of the quantity of Natural Gas for which a locked-in price is established. (c) Utility may elect to purchase a Call Option from GASMARK, which shall give Utility the right, but not the obligation to purchase Natural Gas supply from GASMARK during a future month at a fixed price. The Option Quantity, Option Fee and Strike price shall be agreed to by Utility and GASMARK (d) The commodity charges determined in accordance with sub-paragraphs (a) through (c), above, shall be billed and paid on a monthly basis, in accordance with Section 6.

Commodity Charge. Unless the Utility elects to lock a fixed price with GASMARK in accordance with Section 5.2(c5.2(b), Utility shall not be obligated to purchase or receive any Natural Gas from GASMARK under this Agreement. For all quantities of Natural Gas sold and delivered by GASMARK, Utility shall pay a commodity charge, which shall be determined pursuant to the following alternatives: (a) For deliveries made pursuant to a Nomination, up to the MDQ, MHQ and TWE, the commodity charge for the quantity delivered shall be equal to the sum of: (i) the NYMEX settlement price for the month of delivery; plus (ii) a commodity adder equal to the NYMEX settlement price multiplied by .1628, which adder shall cover applicable fuel and commodity charges to the Delivery Points. (b) Utility shall have the right at any time to lock-in a fixed commodity charge for all or a portion of the Total Winter Entitlement, for delivery during a future month of the Winter Season. The commodity charges for locked-in quantities shall be as agreed to by the Parties based on prevailing market conditions at the time the lock-in is made. Utility's ’s right to lock in a quantity of Natural Gas shall be limited as follows: (i) The maximum quantity of Natural Gas for which the Utility may lock in a fixed commodity charge shall equal the TWE less any quantities already delivered during the Winter Season and any quantities previously locked in for the Winter Season. (ii) Unless otherwise agreed, Utility shall notify GASMARK of its intention to lock-in the commodity charge by no later than 10:00 a.m. on the last trading day for the NYMEX natural gas contract to the month in which such lock-in will apply. Such notice shall identify the quantity of Natural Gas to be locked in. GASMARK will promptly communicate to Utility any limitations on the lock-in quantity identified in Utility's ’s notice, and the Parties will utilize commercially reasonable efforts to facilitate the lock in to the extent practicable. (iii) If Utility has locked in a fixed price, Utility shall be required to purchase and take delivery of the quantity of Natural Gas for which a locked-in price is established. (c) Utility may elect to purchase a Call Option call option from GASMARK, which shall give Utility the right, but not the obligation to purchase Natural Gas supply from GASMARK during a future month at a fixed price. The Option Quantityoption quantity, Option Fee option fee and Strike strike price shall be agreed to by Utility and GASMARK (d) The commodity charges determined in accordance with sub-paragraphs (a) through (c), above, shall be billed and paid on a monthly basis, in accordance with Section 6.

Commodity Charge. Unless the Utility elects to lock a fixed price with GASMARK UGIES in accordance with Section 5.2(cparagraph (b), below, Utility shall not be obligated to purchase or receive any Natural Gas from GASMARK UGIES under this Agreement. For all quantities of Natural Gas sold and delivered by GASMARKUGIES, Utility shall pay a commodity chargeCommodity Charge, which shall be determined pursuant according to the following alternatives: (a) For deliveries all quantities of Natural Gas delivered to Utility's city gate, made pursuant to a Nomination, Day-Ahead Nomination up to the MDQ, MHQ MDQ and TWE, the commodity charge for the quantity delivered Utility shall be pay a Commodity Charge equal to the sum of: (i) the NYMEX settlement published Xxxxx'x Gas Daily index price for Texas Eastern Xxxx X0, plus the month of delivery; plus (ii) a commodity adder equal Texas Eastern maximum variable rates from Zone M2 to the NYMEX settlement price multiplied by .1628, which adder shall cover applicable fuel and commodity charges to the Delivery PointsZone M3. (b) Utility shall will have the right at any time to lock-in a fixed commodity charge Commodity Charge for all or a portion of any term and quantity up to the Total Winter Entitlement, for delivery during a future month of MDQ throughout the Winter SeasonAgreement term. The commodity charges Commodity Charges for locked-in quantities shall be as agreed to by the Parties based on prevailing market conditions at the time the lock-in is made. Utility's right to lock lock-in a quantity of Natural Gas shall be limited as follows: (i) The maximum quantity of Natural Gas for which the Utility may lock in a fixed commodity charge Commodity Charge shall equal the TWE less any quantities already delivered during the Winter Season and any quantities previously locked locked-in for the Winter Season. (ii) Unless otherwise agreed, Utility shall notify GASMARK UGIES of its intention to lock-in the commodity charge Commodity Charge by no later than 10:00 a.m. ECT on the last penultimate trading day for the NYMEX natural gas Natural Gas contract to the month in which such lock-in will apply. Such notice shall identify the quantity of Natural Gas to be locked inlocked-in for each month of delivery. GASMARK will UG1ES shall promptly communicate to Utility any limitations on the lock-in quantity identified in Utility's notice, notice and the Parties will utilize commercially reasonable efforts to facilitate the lock lock-in to the extent practicable. (iii) If Utility has locked locked-in a fixed price, Utility shall be required to purchase and take delivery of the quantity of Natural Gas for which a locked-in price is established. (c) Utility may elect to purchase a Call Option from GASMARK, which shall give Utility the right, but not the obligation to purchase Natural Gas supply from GASMARK during a future month at a fixed price. The Option Quantity, Option Fee and Strike price shall be agreed to by Utility and GASMARK (d) The commodity charges Commodity Charges determined in accordance with sub-paragraphs (a) through and (c), above, b) above shall be billed and paid on a monthly basis, in accordance with Section 6.

Commodity Charge. Unless the Utility elects to lock a fixed price with GASMARK UGIES in accordance with Section 5.2(cparagraph (b), below, Utility shall not be obligated to purchase or receive any Natural Gas from GASMARK UGIES under this Agreement. For all quantities of Natural Gas sold and delivered by GASMARKUGIES, Utility shall pay a commodity chargeCommodity Charge, which shall be determined pursuant according to the following alternatives: (a) For deliveries all quantities of Natural Gas delivered to Utility's city gate, made pursuant to a Nomination, Day-Ahead or Intraday Nomination up to the MDQ, MHQ MDQ and TWE, the commodity charge for the quantity delivered Utility shall be pay a Commodity Charge equal to the sum ofpublished Platts Gas Daily Midpoint index price, or another mutually agreed upon alternative index, as follows: (i) Texas Eastern Texas Eastern M-2 receipts, plus the NYMEX settlement price for the month of delivery; Texas Eastern Firm Transportation maximum variable rates from Market Area Zone 2 to Market Area Zone 3. Transco Transco Xxxxx Line receipts, plus (ii) a commodity adder equal Transco Firm Transportation maximum variable rates from Zone 6 to the NYMEX settlement price multiplied by .1628Zone 6. Columbia Columbia Gas, which adder shall cover Appalachia, plus Columbia Gas Transmission maximum applicable fuel tariff rates including, but not limited to usage and commodity charges shrinkage on deliveries to the Delivery PointsUtility’s Columbia Gas Transmission city gates. (b) Utility shall will have the right at any time to lock-in a fixed commodity charge Commodity Charge for all or a portion of any term and quantity up to the Total Winter Entitlement, for delivery during a future month of MDQ throughout the Winter SeasonAgreement term. The commodity charges Commodity Charges for locked-in quantities shall be as agreed to by the Parties based based, on prevailing market conditions at the time the lock-in is made. Utility's right to lock lock-in a quantity of Natural Gas shall be limited as follows: (i) The maximum quantity of Natural Gas for which the Utility may lock in a fixed commodity charge Commodity Charge shall equal the TWE less any quantities already delivered during the Winter Season and any quantities previously locked locked-in for the Winter Season. (ii) Unless otherwise agreed, Utility shall notify GASMARK UGIES of its intention to lock-in the commodity charge Commodity Charge by no later than 10:00 a.m. ECT on the last penultimate trading day for the NYMEX natural gas Natural Gas contract to the month in which such lock-in will apply. Such notice shall identify the quantity of Natural Gas to be locked inlocked-in for each month of delivery. GASMARK will UGIES shall promptly communicate to Utility any limitations on the lock-in quantity identified in Utility's notice, notice and the Parties will utilize commercially reasonable efforts to facilitate the lock lock-in to the extent practicable. (iii) If Utility has locked locked-in a fixed price, Utility shall be required to purchase and take delivery of the quantity of Natural Gas for which a locked-in price is established. (c) Utility may elect to purchase a Call Option from GASMARK, which shall give Utility the right, but not the obligation to purchase Natural Gas supply from GASMARK during a future month at a fixed price. The Option Quantity, Option Fee and Strike price shall be agreed to by Utility and GASMARK (d) The commodity charges Commodity Charges determined in accordance with sub-paragraphs (a) through and (c), above, b) above shall be billed and paid on a monthly basis, in accordance with Section 6.

Commodity Charge. Unless the Utility elects to lock a fixed price with GASMARK UGIES in accordance with Section 5.2(cparagraph (b), below, Utility shall not be obligated to purchase or receive any Natural Gas from GASMARK UGIES under this Agreement. For all quantities of Natural Gas sold and delivered by GASMARKUGIES, Utility shall pay a commodity chargeCommodity Charge, which shall be determined pursuant according to the following alternatives: (a) For deliveries all quantities of Natural Gas delivered to Utility's city gate, made pursuant to a Nomination, Day-Ahead Nomination up to the MDQ, MHQ MDQ and TWE, the commodity charge for the quantity delivered Utility shall be pay a Commodity Charge equal to the sum of: (i) published Inside FERC index price, or another mutually agreed upon alternative index, for Columbia Gas Appalachia, plus the NYMEX settlement price for the month of delivery; plus (ii) a commodity adder equal to the NYMEX settlement price multiplied by .1628Columbia Firm Transportation maximum applicable tariff rates including, which adder shall cover applicable but not limited to, fuel and commodity charges to the Delivery Pointscommodity. (b) Utility shall will have the right at any time to lock-in a fixed commodity charge Commodity Charge for all or a portion of any term and quantity up to the Total Winter Entitlement, for delivery during a future month of MDQ throughout the Winter SeasonAgreement term. The commodity charges Commodity Charges for locked-in quantities shall be as agreed to by the Parties based on prevailing market conditions at the time the lock-in is made. Utility's right to lock lock-in a quantity of Natural Gas shall be limited as follows: (i) The maximum quantity of Natural Gas for which the Utility may lock in a fixed commodity charge Commodity Charge shall equal the TWE less any quantities already delivered previously locked-in for any Winter Season during the Winter Season and any quantities previously locked in for the Winter SeasonPrimary Term. (ii) Unless otherwise agreed, Utility shall notify GASMARK UGIES of its intention to lock-in the commodity charge Commodity Charge by no later than 10:00 a.m. ECT on the last penultimate trading day for the NYMEX natural gas Natural Gas contract to the month in which such lock-in will apply. Such notice shall identify the quantity of Natural Gas to be locked inlocked-in for each month of delivery. GASMARK will UGIES shall promptly communicate to Utility any limitations on the lock-in quantity identified in Utility's notice, notice and the Parties will utilize commercially reasonable efforts to facilitate the lock lock-in to the extent practicable. (iii) If Utility has locked locked-in a fixed price, Utility shall be required to purchase and take delivery of the quantity of Natural Gas for which a locked-in price is established. (c) Utility may elect to purchase a Call Option from GASMARK, which shall give Utility the right, but not the obligation to purchase Natural Gas supply from GASMARK during a future month at a fixed price. The Option Quantity, Option Fee and Strike price shall be agreed to by Utility and GASMARK (d) The commodity charges Commodity Charges determined in accordance with sub-paragraphs (a) through and (c), above, b) above shall be billed and paid on a monthly basis, in accordance with Section 6.