Determination of Monthly REC Price for Index REC. (a) For a Bid Facility selected on the basis of an Index REC Price bid, the Monthly REC Price shall equal the Index REC Strike Price minus the Reference Energy Price minus the Reference Capacity Price, subject to the condition that the Monthly REC Price may not exceed the Index REC Strike Price. In the event that the Monthly REC Price exceeds the Index REC Strike Price for a given month, then the Monthly REC Price shall equal the Index REC Strike Price for that month.
