Energy Price. The price for the Bundled Green Energy and Deemed Bundled Green Energy that is delivered to Buyer in each Contract Year shall be as follows (“Energy Price”): Contract Year Energy Price ($/MWh) provided, however, that: if Seller delivers Bundled Green Energy in the aggregate for any CAISO settlement interval (not to exceed one hour) in excess of the product of the Contract Capacity times the length of such settlement interval, expressed in hours, then the Energy Price for such excess Bundled Green Energy in such settlement interval shall be reduced to zero dollars ($0), and if the real time Locational Marginal Price for the Delivery Point during such settlement interval is less than zero dollars ($0), Seller shall pay to Buyer an amount equal to the absolute value of such negative Locational Marginal Price times such excess Bundled Green Energy; if Seller delivers Bundled Green Energy plus Deemed Bundled Green Energy, in the aggregate, for any Contract Year during the Delivery Term in excess of one hundred fifteen percent (115%) of the annual Contract Quantity, then the Energy Price for such excess Bundled Green Energy and Deemed Bundled Green Energy, if any, for each settlement interval for the remainder of that Contract Year shall be reduced to zero dollars ($0) and Seller shall be entitled to the CAISO revenues (including positive Locational Marginal Prices, credits and other payments) in respect of such excess amounts and Seller shall be responsible for the CAISO costs (including negative Locational Marginal Prices, penalties, sanctions and other charges) in respect of such excess amounts. Reserved [For FCDS bids (excluding Projects located outside of the CAISO): Monthly Energy Payment. For each month during which Seller has achieved “Full Capacity Deliverability Status,” as defined in the CAISO Tariff (“FCDS”) as determined by the CAISO, Buyer shall pay Seller for the Product an amount equal to the sum for each hour in the month of the product of the Energy Price times the sum of Bundled Green Energy plus Deemed Bundled Green Energy in each hour (“Monthly Energy Payment”). For each month during which Seller has not achieved FCDS as determined by the CAISO, Buyer shall pay Seller for the Product an amount equal to the sum for each hour in the month of the product of (i) the Energy Price minus [insert the $/MWh equal to the Deliverability Value] (“Deliverability Value”) times (ii) the sum of Bundled Green Energy plus Deemed Bundled Green Energy (together, the “Monthly Energy Payment”).
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Energy Price. The price for the Bundled Green Energy and Deemed Bundled Green Energy that is delivered to Buyer in each Contract Year shall be as follows (“Energy Price”): Contract Year Energy Price ($/MWh) provided, however, that: if Seller delivers Bundled Green Energy in the aggregate for any CAISO settlement interval (not to exceed one hour) in excess of the product of the Contract Capacity times the length of such settlement interval, expressed in hours, then the Energy Price for such excess Bundled Green Energy in such settlement interval shall be reduced to zero dollars ($0), and if the real time Locational Marginal Price for the Delivery Point during such settlement interval is less than zero dollars ($0), Seller shall pay to Buyer an amount equal to the absolute value of such negative Locational Marginal Price times such excess Bundled Green Energy; if Seller delivers Bundled Green Energy plus Deemed Bundled Green Energy, in the aggregate, aggregate for any Contract Year during the Delivery Term in excess of one hundred fifteen percent (115110%) of the annual Contract Quantity, then the Energy Price for such excess Bundled Green Energy and Deemed Bundled Green Energy, if any, for each settlement interval for the remainder of that Contract Year shall be reduced to zero dollars ($0) ), and for each CAISO settlement interval during that time in which the real time Locational Marginal Price is less than zero dollars ($0), Seller shall be entitled pay to Buyer an amount equal to the CAISO revenues (including positive Locational Marginal Prices, credits and other payments) in respect absolute value of such excess amounts and Seller shall be responsible for the CAISO costs (including negative Locational Marginal Prices, penalties, sanctions and other charges) in respect of Price times the Bundled Green Energy delivered during such excess amounts. Reserved [For FCDS bids (excluding Projects located outside of the CAISO): settlement interval; Monthly Energy Payment. For each month during which Seller has achieved “Full Capacity Deliverability Status,” as defined in the CAISO Tariff (“FCDS”) as determined by the CAISOmonth, Buyer shall pay Seller for the Product an amount equal to the sum for each hour in the month of the product of the Energy Price times the sum of Bundled Green Energy plus Deemed Bundled Green Energy in each hour (“Monthly Energy Payment”). For each month during which Seller has not achieved FCDS as determined by the CAISO, Buyer shall pay Seller for the Product an amount equal to the sum for each hour in the month of the product of (i) the Monthly Energy Payment = ∑ Energy Price minus [insert x Bundled Green Energy For any period where the $/MWh equal to the Deliverability Value] (“Deliverability Value”) times (ii) the sum quantity of Bundled Green Energy plus Deemed is less than the quantity of Delivered Energy and the quantity of Bundled Green Energy cannot practicably be determined for each settlement interval during such period (togetherfor example, where WREGIS does not specify in which settlement periods Renewable Energy Credits were delivered or not delivered), then the quantity of Bundled Green Energy for any settlement interval during the entire period shall be equal to the product of the quantity of Delivered Energy for a settlement interval multiplied by the quotient of the aggregate quantity of Green Attributes that are delivered to Buyer during such entire period divided by the aggregate quantity of Delivered Energy that is delivered to Buyer during such entire period. Imbalance Energy. Seller shall use commercially reasonable efforts to deliver Energy in accordance with the Scheduled Energy. Xxxxx and Seller recognize that from time to time the amount of Delivered Energy will deviate from the amount of Scheduled Energy. When Delivered Energy minus Scheduled Energy is a positive amount, it shall be considered “Positive Imbalance Energy;” when Delivered Energy minus Scheduled Energy is a negative amount, the absolute (i.e., positive) value of that amount shall be considered the “Monthly Negative Imbalance Energy.” [When Seller is SC for the Project or when Buyer is SC but Project is not in the VER Forecasting Program: Seller shall be responsible for settlement of Imbalance Energy Payment”with the CAISO and all fees, liabilities, assessments, or similar charges assessed by the CAISO in connection with Imbalance Energy.] Buyer and Seller shall cooperate to minimize charges and imbalances associated with Imbalance Energy to the extent possible. Seller shall promptly notify Buyer as soon as possible of any material imbalance that is occurring or has occurred. [When SDG&E is SC for the Project and Project is in the VER Forecasting Program: Buyer shall receive all Green Attributes for the Positive Imbalance Energy in all settlement intervals.] [When Seller is SC for the Project or when Buyer is SC but Project is not in the VER Forecasting Program, include the following two paragraphs: Positive Imbalance Energy (Over Deliveries). In the event that Delivered Energy for any CAISO settlement interval is equal to or greater than Scheduled Energy for such CAISO settlement interval, Buyer shall have no payment obligation in respect of the Positive Imbalance Energy. Buyer shall receive all Green Attributes for the Positive Imbalance Energy in such CAISO settlement interval regardless as to whether it was sold into the CAISO. Seller shall be entitled to all payments or credits from the CAISO to Seller’s SC and Seller shall make all payments to the CAISO in respect of the Positive Imbalance Energy. Negative Imbalance Energy (Under Deliveries). In the event that Delivered Energy for any CAISO settlement interval is less than Scheduled Energy for such CAISO settlement interval, Buyer shall have no payment obligation in respect of the Negative Imbalance Energy. Seller shall make all payments to the CAISO and Seller shall be entitled to all payments or credits from the CAISO to Seller’s SC in respect of the Negative Imbalance Energy required under the CAISO Tariff.]
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Energy Price. Buyer is liable to pay to Seller: [ ] Fixed price: The Energy Price (“EP”) shall be [●]€/Unit. [ ] As of 1 January each year, the price is corrected for inflation. The inflation index used is [●] and [●] is the Base Year. [ ] Indexed: The Energy Price (“EP”) shall be in €/Unit and based on the Price Index [●] (“PI”) times Multiplier (“M”) and Surcharge/Discount (“SD”) of [●] according to the following formula: [ ] Set Periodically: The price for the Bundled Green Energy and Deemed Bundled Green Energy that is delivered to Buyer in each Contract Year shall be as follows set [●] by the Seller based on the costs incurred and set through the process described in Annex 5. Fixed Monthly Fee: In addition to any other amounts due under this Agreement, Buyer is liable to pay to Seller the Fixed Monthly Fee. The Fixed Monthly Fee (“Energy PriceFMF”): Contract Year Energy Price ($/MWh) providedis [●] €/Month. [ ] As of 1 January each year, however, that: if Seller delivers Bundled Green Energy in the aggregate price is corrected for any CAISO settlement interval (not to exceed one hour) in excess of inflation. The inflation index used is [●] with [●] as Base Year. Annual Volume Make-up Fee [ ] If a Buyer Annual Volume applies] If the product sum of the Contract Capacity times the length of such settlement interval, expressed Quantities in hours, then the Energy Price for such excess Bundled Green Energy in such settlement interval shall be reduced to zero dollars ($0), and if the real time Locational Marginal Price for the Delivery Point during such settlement interval a calendar year is less than zero dollars the Buyer Annual Volume ($0), Seller shall pay to Buyer an amount equal to the absolute value of such negative Locational Marginal Price times such excess Bundled Green Energy; if Seller delivers Bundled Green Energy plus Deemed Bundled Green Energy, in the aggregate, for any Contract Year during the Delivery Term in excess of one hundred fifteen percent (115%BAV) of the annual Contract Quantity, then the Energy Price for such excess Bundled Green Energy and Deemed Bundled Green Energy, if any, for each settlement interval for Buyer will be liable to pay the remainder of that Contract Year shall be reduced to zero dollars ($0) and Seller shall be entitled to the CAISO revenues (including positive Locational Marginal Prices, credits and other payments) in respect of such excess amounts and Seller shall be responsible for the CAISO costs (including negative Locational Marginal Prices, penalties, sanctions and other charges) in respect of such excess amounts. Reserved [For FCDS bids (excluding Projects located outside of the CAISO): Monthly Energy Payment. For each month during which Seller has achieved “Full Capacity Deliverability Status,” as defined in the CAISO Tariff (“FCDS”) as determined by the CAISO, Buyer shall pay Seller for the Product an amount equal shortfall in volume against [●] % of the average annual Energy Price as follows: Buyer Annual Volume Make-up Fee (“BAVMF”) The BAVMF will be corrected for the days that the Seller has failed to Deliver (if any), by multiplying the sum for each hour BAVMF with the days that Seller has not failed to Deliver divided by the number or days in the month of the product of the Energy Price times calendar year. [ ] If a Seller Annual Volume applies] If the sum of Bundled Green the Contract Quantities in a given calendar year is less than the Seller Annual Volume (SAV) then the Seller will be liable to pay the Buyer for the shortfall in volume against [●] % of the average annual Energy plus Deemed Bundled Green Energy in each hour Price as follows: Seller Annual Volume Make-up Fee (“Monthly Energy PaymentSAVMF”) The SAVMF will be corrected for the days that the Seller has failed to deliver (if any). For each month during which , by multiplying the SAVMF with the number of days that Seller has not achieved FCDS as determined failed to Accept divided by the CAISOnumber of days in the calendar year. Network Fee In addition to any other amounts due under this Agreement, Buyer shall is liable to pay to Seller for the Product an amount equal to the sum for each hour in the month of the product of (i) the Energy Price minus [insert the $/MWh equal to the Deliverability ValueNetwork Monthly Fee. [ ] The Network Monthly Fee (“Deliverability ValueNMF”) times is [●] €/Month. [ ] The Network Capacity Fee (ii“NCF”) the sum is [●] €/Unit/Scheduling Period/Month. [ ] As of Bundled Green Energy plus Deemed Bundled Green Energy (together1 January each year, the “Monthly Energy Payment”)price is corrected for inflation. The inflation index used is [●] with [●] as Base Year.
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Samples: r-aces.eu
Energy Price. The price for the Bundled Green Energy and Deemed Bundled Green Energy that is delivered to Buyer in each Contract Year shall be as follows (“Energy Price”): Contract Year Energy Price ($/MWh) provided, however, that: if Seller delivers Bundled Green Energy in the aggregate for any CAISO settlement interval (not to exceed one hour) in excess of the product of the Contract Capacity times the length of such settlement interval, expressed in hours, then the Energy Price for such excess Bundled Green Energy in such settlement interval shall be reduced to zero dollars ($0), and if the real time Locational Marginal Price for the Delivery Point during such settlement interval is less than zero dollars ($0), Seller shall pay to Buyer an amount equal to the absolute value of such negative Locational Marginal Price times such excess Bundled Green Energy; if Seller delivers Bundled Green Energy plus Deemed Bundled Green Energy, in the aggregate, for any Contract Year during the Delivery Term in excess of one hundred fifteen percent (115%) of the annual Contract Quantity, then the Energy Price for such excess Bundled Green Energy and Deemed Bundled Green Energy, if any, for each settlement interval for the remainder of that Contract Year shall be reduced to zero dollars ($0) and Seller shall be entitled to the CAISO revenues (including positive Locational Marginal Prices, credits and other payments) in respect of such excess amounts and Seller shall be responsible for the CAISO costs (including negative Locational Marginal Prices, penalties, sanctions and other charges) in respect of such excess amounts. Reserved [For FCDS bids (excluding Projects located outside of the CAISO): Monthly Energy Payment. For each month during which Seller has achieved “Full Capacity Deliverability Status,” as defined in the CAISO Tariff (“FCDS”) as determined by the CAISO, Buyer shall pay Seller for the Product an amount equal to the sum for each hour in the month of the product of the Energy Price times the sum of Bundled Green Energy plus Deemed Bundled Green Energy in each hour (“Monthly Energy Payment”). For each month during which Seller has not achieved FCDS as determined by the CAISO, Buyer shall pay Seller for the Product an amount equal to the sum for each hour in the month of the product of (i) the Energy Price minus [insert the $/MWh equal to the Deliverability Value] (“Deliverability Value”) times (ii) the sum of Bundled Green Energy plus Deemed Bundled Green Energy (together, the “Monthly Energy Payment”).
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Energy Price. The price for the Bundled Green Energy and Deemed Generation Facility Bundled Green Energy that is delivered to Buyer in each Contract Year shall be as follows (“Energy Price”): Contract Year Energy Price ($/MWh) providedProvided, however, that: if Seller delivers Generation Facility Bundled Green Energy in the aggregate for any CAISO settlement interval (not to exceed one hour) in excess of the product of the Contract Capacity for the Generation Facility times the length of such settlement interval, expressed in hours, then the Energy Price for such excess Generation Facility Bundled Green Energy in such settlement interval shall be reduced to zero dollars ($0), and if the real time Locational Marginal Price for the Delivery Point during such settlement interval is less than zero dollars ($0), Seller shall pay to Buyer an amount equal to the absolute value of such negative Locational Marginal Price times such excess Generation Facility Bundled Green Energy; and if Seller delivers Generation Facility Bundled Green Energy plus Deemed Bundled Green Energy, in the aggregate, aggregate for any Contract Year during the Delivery Term Period in excess of one hundred fifteen five percent (115105%) of the annual Contract Quantity, then for any such portion of such Generation Facility Bundled Green Energy (i) in excess of one hundred five percent (105%) of the annual Contract Quantity up to one hundred ten percent (110%) of the annual Contract Quantity, the Energy Price for such excess Generation Facility Bundled Green Energy for the remainder of that Contract Year shall be reduced to the lesser of (x) the Energy Price multiplied by fifty percent (50%) and Deemed (y) the real time Locational Marginal Price for the Delivery Point during the CAISO settlement interval when such Generation Facility Bundled Green EnergyEnergy was delivered and (ii) in excess of one hundred ten percent (110%) of the annual Contract Quantity, if any, the Energy Price for each settlement interval such excess Generation Facility Bundled Green Energy for the remainder of that Contract Year shall be reduced to zero dollars ($0) and ); and, in each case, for each CAISO settlement interval during the time in which the real time Locational Marginal Price for any such excess Generation Facility Bundled Green Energy is less than zero dollars ($0), Seller shall be entitled pay to the CAISO revenues (including positive Locational Marginal Prices, credits and other payments) in respect of such excess amounts and Seller shall be responsible for the CAISO costs (including negative Locational Marginal Prices, penalties, sanctions and other charges) in respect of such excess amounts. Reserved [For FCDS bids (excluding Projects located outside of the CAISO): Monthly Energy Payment. For each month during which Seller has achieved “Full Capacity Deliverability Status,” as defined in the CAISO Tariff (“FCDS”) as determined by the CAISO, Buyer shall pay Seller for the Product an amount equal to the sum for each hour in the month absolute value of the product of the Energy such negative Locational Marginal Price times the sum of Generation Facility Bundled Green Energy plus Deemed Bundled Green Energy in each hour delivered during such settlement interval. APPENDIX 11.3 LETTER OF CREDIT FORM13 IRREVOCABLE STANDBY LETTER OF CREDIT Reference Number: Transaction Date: BENEFICIARY: San Diego Gas & Electric Company Ladies and Gentlemen: (the “Bank”) hereby establishes this Irrevocable Standby Letter of Credit (“Monthly Energy PaymentLetter of Credit”) in favor of San Diego Gas & Electric Company, a California corporation (the “Beneficiary”), for the account of ______________________, a ____________ corporation (the “Applicant”), for the amount of XXX AND XX/100 Dollars ($ ) (the “Available Amount”), effective immediately and expiring at 5:00 p.m., California time, on the Expiration Date (as hereinafter defined). This Letter of Credit shall be of no further force or effect upon the close of business on ______________ or, if such day is not a Business Day (as hereinafter defined), on the next preceding Business Day, unless extended in accordance with the terms of this Letter of Credit. For each month during the purposes hereof, “Business Day” shall mean any day on which Seller has commercial banks are not achieved FCDS as determined by the CAISOauthorized or required to close in San Diego, Buyer shall pay Seller for the Product an amount equal California. Subject to the sum for each hour terms and conditions herein, funds under this Letter of Credit are available to the Beneficiary by presentation in compliance on or prior to 5:00 p.m. California time, on or prior to the month Expiration Date, of the product of (i) the Energy Price minus [insert the $/MWh equal to the Deliverability Value] (“Deliverability Value”) times (ii) the sum of Bundled Green Energy plus Deemed Bundled Green Energy (together, the “Monthly Energy Payment”).following:
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Samples: Storage Power Purchase Agreement
Energy Price. The price for the Bundled Green Energy and Deemed Bundled Green Energy that is delivered to Buyer in each Contract Year shall be as follows (“Energy Price”): Contract Year Energy Price ($/MWh) provided, however, that: if Seller delivers Bundled Green Energy in the aggregate for any CAISO settlement interval (not to exceed one hour) hour in excess of one hundred ten percent (110%) of the product of the Contract Capacity times the length of such settlement interval, expressed in hoursone hour, then the Energy Price for such excess Bundled Green Energy in such settlement interval hour shall be reduced to zero dollars ($0), and if the real time Locational Marginal Price for the Delivery Point during such settlement interval is less than zero dollars ($0), Seller shall pay to Buyer an amount equal to the absolute value of such negative Locational Marginal Price times such excess Bundled Green Energy; if Seller delivers Bundled Green Energy plus Deemed Bundled Green Energy, in the aggregate, aggregate for any Contract Year during the Delivery Term in excess of one hundred fifteen percent (115%) of the annual Contract Quantity, then the Energy Price for such excess Bundled Green Energy and Deemed Bundled Green Energy, if any, for each settlement interval for the remainder of that Contract Year shall be reduced to zero dollars seventy five percent ($075%) and Seller shall be entitled to the CAISO revenues (including positive Locational Marginal Prices, credits and other payments) in respect of such excess amounts and Seller shall be responsible for the CAISO costs (including negative Locational Marginal Prices, penalties, sanctions and other charges) in respect of such excess amounts. Reserved [For FCDS bids (excluding Projects located outside of the CAISO): Monthly applicable Energy Payment. For each month during which Seller has achieved “Full Capacity Deliverability Status,” as defined in the CAISO Tariff Price (“FCDS”) as determined by the CAISO, Buyer shall pay Seller except for the Product an amount equal to the sum for each any hour in the month of the product of which the Energy Price times the sum of Bundled Green Energy plus Deemed is reduced by clause (i) above); if Seller delivers Bundled Green Energy in each hour the aggregate for any XXX Period during the Delivery Term in excess of one hundred fifteen percent (“Monthly 115%) of the XXX Delivery Cap listed below for that XXX Period, then the Energy Payment”). For each month during which Seller has not achieved FCDS as determined by Price for such excess Bundled Green Energy in such XXX Period shall be reduced to seventy five percent (75%) of the CAISO, Buyer shall pay Seller applicable Energy Price (except for the Product an amount equal to the sum for each any hour in which the month of the product of Energy Price is reduced by clause (i) the Energy Price minus [insert the $/MWh equal to the Deliverability Value] (“Deliverability Value”) times or (ii) above): XXX Period XXX Delivery Cap Winter On-Peak [Insert number which is derived from multiplying annual Contract Quantity times the sum of Bundled Green Energy plus Deemed Bundled Green Energy (together, XXX delivery profile ratio contained bid form] Winter Semi-Peak [Insert number which is derived from multiplying annual Contract Quantity times the “Monthly Energy Payment”).XXX delivery profile ratio contained bid form] Winter Off-Peak [Insert number which is derived from multiplying annual Contract Quantity times the XXX delivery profile ratio contained bid form] Summer On-Peak [Insert number which is derived from multiplying annual Contract Quantity times the XXX delivery profile ratio contained bid form] Summer Semi-Peak [Insert number which is derived from multiplying annual Contract Quantity times the XXX delivery profile ratio contained bid form] Summer Off-Peak [Insert number which is derived from multiplying annual Contract Quantity times the XXX delivery profile ratio contained bid form]
Appears in 1 contract
Samples: Power Purchase Agreement
