Fixed OREC Price Sample Clauses

Fixed OREC Price. The Fixed OREC Price for each month in the respective Contract Years shall be ______, subject to any applicable reduction under Section 4.02(b). In the event that a New Carbon Price Mechanism applies to electric generation in New York State, NYSERDA shall reduce the Fixed OREC Price prospectively (“Fixed OREC Carbon Price Adjustment”). For purposes of this Agreement a “New Carbon Price Mechanism” is a New York State, NYISO, or federal statute, regulation, rule, order, or policy enacted or promulgated after the submission of the Proposal that applies to electric generation consumed in New York State and that imposes a discernible economic cost on electric generators that is based upon and is quantified in direct proportion to their emissions of carbon dioxide and/or other GHGs. The term “New Carbon Price Mechanism” may include, but is not limited to (A) the imposition of any fee, adder, or tax applied to emissions of GHGs, and (B) a policy that caps emissions of GHGs and facilitates the exchange of emissions allowances, the price of which may be discerned from publicly-available data (“Cap and Trade Program”). For the avoidance of doubt, the Regional Greenhouse Gas Initiative (“RGGI”) predates the Proposal and, therefore, neither New York’s continued participation in RGGI, nor any programmatic changes to RGGI that occur after the submission of the Proposal shall be considered a New Carbon Price Mechanism. The Fixed OREC Carbon Price Adjustment shall be applied on the first day of the first month after the date on which the New Carbon Price Mechanism takes effect and shall last until the cessation of the New Carbon Price Mechanism or the end of the Contract Delivery Term, whichever comes first. The Fixed OREC Carbon Price Adjustment shall be calculated by NYSERDA no less than annually, based on a 12-month period that NYSERDA may select in its reasonable discretion; provided, however that if NYISO publishes data that readily facilitate monthly calculation, NYSERDA shall calculate the Fixed OREC Carbon Price Adjustment each month and apply it to the Monthly OREC Price. The value of the Fixed OREC Carbon Price Adjustment shall be determined as follows: If NYISO calculates the carbon impact on LBMP (“LBMPc”), the Fixed OREC Carbon Price Adjustment for each month shall be the generation-weighted LBMPc in the Applicable Zone or, if the Carbon Price applies to external resources, at the Proxy Generator Bus as defined in Section 2.16 of the NYISO Market Administrati...
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Fixed OREC Price. (a) The Fixed OREC Price for each month in the respective Contract Years shall be (b) In the event that a New Carbon Price Mechanism applies to electric generation in New York State, NYSERDA shall reduce the Fixed OREC Price prospectively (“Fixed OREC Carbon Price Adjustment”).
Sample 1Sample 2
Fixed OREC Price. For each Contract Year, the Fixed OREC Price shall be: Contract Year 1: $ Contract Year 2: $ Contract Year 3: $ Contract Year 4: $ Contract Year 5: $ Contract Year 6: $ Contract Year 7: $ Contract Year 8: $ Contract Year 9: $ Contract Year 10: $ Contract Year 11: $ Contract Year 12: $ Contract Year 13: $ Contract Year 14: $ Contract Year 15: $ Contract Year 16: $ Contract Year 17: $ Contract Year 18: $ Contract Year 19: $ Contract Year 20: $ Contract Year 21: $ Contract Year 22: $ Contract Year 23: $ Contract Year 24: $ Contract Year 25: $ Section 4.03. Index OREC Price. (a) For each month, the Index OREC Price shall equal the Index OREC Strike Price minus the Reference Energy Price minus the Reference Capacity Price. (1) The Index OREC Strike Price, for each Contract Year shall be: Contract Year 1: $ Contract Year 2: $ Contract Year 3: $ Contract Year 4: $ Contract Year 5: $ Contract Year 6: $ Contract Year 7: $ Contract Year 8: $ Contract Year 9: $ Contract Year 10: $ Contract Year 11: $ Contract Year 12: $ Contract Year 13: $ Contract Year 14: $ Contract Year 15: $ Contract Year 16: $ Contract Year 17: $ Contract Year 18: $ Contract Year 19: $ Contract Year 20: $ Contract Year 21: $ Contract Year 22: $ Contract Year 23: $ Contract Year 24: $ Contract Year 25: $ (2) Using data published by NYISO for its day-ahead energy market, NYSERDA shall calculate the Reference Energy Price for each month by: (i) identifying the location-based marginal price (“LBMP”) for each hour of the month in both Zone J and Zone K, and the amount of electric energy in MWh consumed in each zone in each hour (“Hourly Zonal Load”); (ii) for each such hour, calculating a “Load-Weighted Average Price” by dividing the sum of (A) the product of the LBMP for Zone J and the Hourly Zonal Load for Zone J, and (B) the product of the LBMP for Zone K and the Hourly Zonal Load for Zone K, by the sum of the Hourly Zonal Load for Zone J and the Hourly Zonal Load for Zone K; (iii) taking the simple (not load-weighted) average of the Load-Weighted Average Prices across the two zones for each hour of the month to determine the Reference Energy Price. (3) Using data published by NYISO for its monthly spot market unforced capacity (“UCAP”) prices, NYSERDA shall calculate the Reference Capacity Price for each month by: (i) identifying the UCAP prices in dollars per kW-month for NYISO Zones G, H, I, J, and K (the “Applicable Zones”), and the energy consumed in MWh for each zone (“Monthly Zonal Load”); ...
Sample 1
Fixed OREC Price. (a) The Fixed OREC Price for each month in the respective Contract Years shall be (b) In the event that a New Carbon Price Mechanism applies to electric generation in New York State, NYSERDA shall reduce the Fixed OREC Price prospectively (“Fixed OREC Carbon Price Adjustment”). (i) For purposes of this Agreement a “New Carbon Price Mechanism” is a New York State, NYISO, or federal statute, regulation, rule, order, or policy enacted or promulgated after the submission of the Proposal that applies to electric generation consumed in New York State and that imposes a discernible economic cost on electric generators that is based upon and is quantified in direct proportion to their emissions of carbon dioxide and/or other GHGs. The term “New Carbon Price Mechanism” may include, but is not limited to (A) the imposition of any fee, adder, or tax applied to emissions of GHGs, and (B) a policy that caps emissions of GHGs and facilitates the exchange of emissions allowances, the price of which may be discerned from publicly-available data (“Cap and Trade Program”). For the avoidance of doubt, the Regional Greenhouse Gas Initiative (“RGGI”) predates the Proposal and, therefore, neither New York’s continued participation in RGGI, nor any programmatic changes to RGGI that occur after the submission of the Proposal shall be considered a New Carbon Price Mechanism.
Sample 1
Fixed OREC Price. For each Contract Year, the Fixed OREC Price shall be:
Sample 1

Related to Fixed OREC Price

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  • Supply Price The Initial Term “Supply Price” for the “Monthly Fixed Price Volume” set forth on Exhibit A shall be $[______]/MWh for the first [***] years of the Initial Term, and thereafter shall be the then-current market price as mutually agreed by Customer and Supplier prior to the end of the [***] year. The Extension Term Supply Price, if any, will be the then-current market price as mutually agreed by Customer and Supplier prior to entering into the Extension Term. Supplier and Customer may agree to fix the Supply Price for one or more periods during the Term that individually and in total are shorter than the full Term. Exhibit A sets forth the hourly delivery volume for which the Energy Price will be fixed during each month of the Term to take into account the phase-in of the facility which is expected to progress at a rate of approximately [***]MW per month (the “Monthly Fixed Price Volume”). Supplier represents that Supplier has used commercially reasonable efforts to set such Supply Price at approximately [***]% discount to the forward price at which Supplier xxxxxx its delivery obligations under this Transaction Confirmation with respect to any financial or physical energy supply arrangement intended to cover the Monthly Fixed Price Volume, the settlement index (ERCOT North Load Zone), and this Transaction Confirmation term. The [***]% discount shall be revised to take into account any physical or software limitations originating from Customer and limiting Supplier’s ability to curtail 100% of the load at the Data Center. Exhibit A also sets forth the minimum load that Customer has designated as not subject to economic curtailment (“Non-Curtailable Load”), which represents, among other things, the Motor Control Center (MCC), and other essential server and administrative load. Customer and Supplier can, in the context of the immediately preceding sentence, agree on a lesser than [***]% discount with respect to the Supply Price to account for Supplier’s incremental cost of providing a fixed Supply Price for Non-Curtailable Load.

  • The Price The buyer may wish to apportion the purchase price among the assets first, for tax purposes; and second, so that if by chance some item is not available on completion, there is some yardstick for a claim. In most cases however, the basis for ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . For various tax purposes it may be important to specify ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■

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