Market Based Rate Authority. Seller shall, upon the request of Buyer, submit a letter of concurrence in the form attached hereto as Appendix C indicating that this Transaction does not intend to transfer “ownership or control of generation capacity” from Seller to Buyer as the term “ownership or control of generation capacity” is used in 18 CFR § 35.42, as in effect on the date of this Confirmation.
Market Based Rate Authority. Upon Buyer’s written request, Seller shall, in accordance with Federal Energy Regulatory Commission (FERC) Order No. 697, submit a letter of concurrence in support of any affirmative statement by Buyer that this contractual arrangement does not transfer “ownership or control of generation capacity” from Seller to Buyer as the term “ownership or control of generation capacity” is used in 18 CFR Section 35.42. Seller shall not, in filings, if any, made subject to Order Nos. 652 and 697, claim that this contractual arrangement conveys ownership or control of generation capacity from Seller to Buyer.
Market Based Rate Authority. Take or cause to be taken all necessary or appropriate actions so that each Guarantor (if such Guarantor owns or leases a Project) and Xxxxxxxx Energy will be authorized to sell wholesale electric power at market based rates with all waivers of regulations and blanket authorizations as are customarily granted by FERC to entities authorized to sell wholesale electric power at market based rates.
Market Based Rate Authority. Each of CSSW and the Borrower shall, and shall cause each of its Subsidiaries to, take or cause to be taken all necessary or appropriate actions so that each Subsidiary (if such Subsidiary directly owns or leases a Project or is otherwise a “public utility” under the FPA) will be authorized by FERC to sell wholesale electric power at market-based rates with all waivers of regulations and blanket authorizations (including under Section 204 of the FPA) as are customarily granted by FERC to entities authorized to sell wholesale electric power at market-based rates, in each case to the extent such authorization is required for such Subsidiary to sell wholesale electric power at market-based rates in accordance with all Requirements of Law.
Market Based Rate Authority. Upon Purchaser’s written request, Seller shall, in accordance with FERC Order No. 697, submit a letter of concurrence in support of any affirmative statement by Purchaser that this contractual arrangement does not transfer “ownership or control of generation capacity” from Seller to Purchaser as the term “ownership or control of generation capacity” is used in 18 CFR Section 35.42. Seller shall not, in filings, if any, made subject to Order Nos. 652 and 697, claim that this contractual arrangement conveys ownership or control of generation capacity from Seller to Purchaser.
Market Based Rate Authority. To the extent market-based rates are available to similarly situated generators selling Power, Ancillary Services or some combination of the foregoing in the Applicable Markets, each Project Company shall maintain at all times its authority to sell at market-based rates wholesale Power, Ancillary Services and, to the extent permitted as an Exempt Wholesale Generator or under its FERC tariff, Other Energy-Related Products and Services in the Applicable Markets, not subject to any rate caps or mitigation measures other than rate caps and mitigation measures generally applicable to similarly situated generators selling Power, Ancillary Services or some combination of the foregoing in the Applicable Markets.
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Market Based Rate Authority. Seller shall, at all times during the Services Term, maintain all necessary authorization from FERC to sell Energy at market-based rates as contemplated by this Agreement.
Market Based Rate Authority. The Company was granted market-based rate authority by FERC by order dated December 21, 1998, in Docket No. ER99-415-000. The Company has met, and through the Closing Date will continue to meet, all applicable requirements and has made all necessary filings for the maintenance of market-based rate authority, and has, and will continue to hold, all necessary authorizations that permit the Company to sell electric power and related services at market-based rates. Except for any facts or circumstances that may arise as a result of or following the Transactions, to Seller’s Knowledge, there is no reason to believe that Company’s triennial filing in respect of its market-based rate authority filing that is pending with the FERC on the Effective Date will not be accepted by the FERC in the ordinary course.
Market Based Rate Authority. FERC instituted a rulemaking process to modify its methodology to assess generation market power. In the interim, FERC has established certain market screens. Failure to satisfy any of those screens requires an applicant for market-based rates to submit additional tests and information to FERC to demonstrate that it does not have generation market power in the region in which it fails the screens. Some of the screens which do not subtract obligations to serve native load are difficult for a franchised utility such as Duke Energy Carolinas to pass. In an order issued on June 30, 2005, the FERC revoked the authority for Duke Energy Carolinas to make wholesale power sales within its control area at market-based rates based on the FERC’s determination that Duke Energy Carolinas had failed one of the applicable market screens. Under the FERC’s order, Duke Energy Carolinas may make wholesale power sales within its control area only at cost-based rates. Duke Energy Carolinas has filed a cost-based tariff for such sales. The
