Common use of Payment in case of reduced offtake Clause in Contracts

Payment in case of reduced offtake. The RPD and the Buying Entity shall follow the forecasting and scheduling process as per the regulations in this regard by the Appropriate Commission. In case the Project is available to supply power but the off- take of power is not done by the Buying Entity, including non-dispatch of power due to non-compliance with “Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 notified by the Ministry of Power vide Gazette notification dated 3rd June 2022” and any clarifications or amendment thereto, considering the principle of ‘must run’ status for RE Power, the RPD shall be eligible for payment from the Buying Entity, corresponding to the reduced offtake, in terms of following manner. Grid unavailability beyond 175 hours in a Contract Year, as defined in SECI- RPD PPA Generation Compensation = (Tariff x RE power (MW) offered but not scheduled by the Buying Entity) X 1000 X No. of hours of Reduced Offtake However, in case of third-party sale or sale in power exchange, as price taker, the 95% of the amount realized, after deducting expenses, shall be adjusted against the Generation compensation payable, on monthly basis. Tariff shall be the Applicable Tariff as per Article 9 of the PPA. The above compensation will be paid to the RPD on an annual basis. For claiming either of the above two compensations, the RPD must sell their power in the power exchange as a price taker. Thus, the compensation would be limited to the difference of the actual generation up to declared capacity subject to a maximum of up to the Contracted Capacity and the quantum of power scheduled by the Buying Entity. The RPD shall be eligible for payment from the Buying Entity, corresponding to the reduced offtake of power as per above mentioned methodology. The Payment is to be done as part of the energy bill for the successive month after receipt of Energy Accounts (REA)/SEA/JMR. No Trading Margin shall be applicable on this Payment.

Appears in 1 contract

Samples: Power Sale Agreement

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Payment in case of reduced offtake. The RPD and the Buying Entity shall follow the forecasting and scheduling process as per the regulations in this regard by the Appropriate Commission. In case the Project plant is available to supply power but the off- take of power is not done by the Buying EntityProcurer, including non-dispatch of power due to non-compliance with “Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 notified by the Order No. 23/22/2019-R&R dated 28.06.2019 of Ministry of Power vide Gazette notification dated 3rd June 2022regarding Opening and maintaining of adequate Letter of Credit (LC) as Payment Security Mechanism under Power Purchase Agreements by Distribution Licensees” and any clarifications or amendment thereto, considering the principle of ‘must run’ status for RE Power, and the Fixed charges for thermal power, the RPD shall be eligible for payment from the Buying Entity, corresponding to the reduced offtake, in terms of following manner. Grid unavailability beyond 175 hours in a Contract Year, as defined in SECI- RPD PPA Generation Compensation = (Tariff x RE power (MW) offered but not scheduled by the Buying Entity) X 1000 X No. of hours of Reduced Offtake However, in case of third-party sale or sale in power exchange, as price taker, the 95% of the amount realized, after deducting expenses, shall be adjusted against the Generation compensation payable, on monthly basis. Tariff shall be the Applicable Tariff as per Article 9 of the PPA. The above compensation will be paid to the RPD on an annual basis. For claiming either of the above two compensationscompensation, the RPD must sell their power in the power exchange as a price taker. Thus, the compensation would be limited to the difference of the actual generation up to declared capacity subject to a maximum of up to the Contracted Capacity contracted capacity and the quantum of power scheduled by the Buying Entity. (a) For RE Power: 90% of Net realization (b) For Thermal Power: 50% of Net realization above variable Charges Composite Tariff shall be the Applicable Tariff as per Article 9. The RPD shall be eligible for payment from the Buying EntityProcurer, corresponding to the reduced offtake of power as per above mentioned methodology. The Payment is to be done as part of the energy bill xxxx for the successive month after receipt of Regional Energy Accounts (REA)/SEA/JMRREA). No Trading Margin shall be applicable on this Payment. It is hereby clarified that for the purpose of Article 4.10, “generation” shall mean scheduled energy based on Energy Accounts. The RPD shall not be eligible for any compensation in case the Backdown is on account of events like consideration of grid security or safety of any equipment or personnel or other such conditions or Force Majeure.

Appears in 1 contract

Samples: Power Purchase Agreement

Payment in case of reduced offtake. The RPD and the Buying Entity shall follow the forecasting and scheduling process as per the regulations in this regard by the Appropriate Commission. In case the Project plant is available to supply power but the off- take of power is not done by the Buying EntityProcurer, including non-dispatch of power due to non-compliance with “Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 notified by the Order No. 23/22/2019-R&R dated 28.06.2019 of Ministry of Power vide Gazette notification dated 3rd June 2022regarding Opening and maintaining of adequate Letter of Credit (LC) as Payment Security Mechanism under Power Purchase Agreements by Distribution Licensees” and any clarifications or amendment thereto, considering the principle of ‘must run’ status for RE Power, and the Fixed charges for Non RE Power, the RPD shall be eligible for payment from the Buying Entity, corresponding to the reduced offtake, in terms of following manner. Grid unavailability beyond 175 hours in a Contract Year, as defined in SECI- RPD PPA Generation Compensation = (Tariff x RE power (MW) offered but not scheduled by the Buying Entity) X 1000 X No. of hours of Reduced Offtake However, in case of third-party sale or sale in power exchange, as price taker, the 95% of the amount realized, after deducting expenses, shall be adjusted against the Generation compensation payable, on monthly basis. Tariff shall be the Applicable Tariff as per Article 9 of the PPA. The above compensation will be paid to the RPD on an annual basis. For claiming either of the above two compensationscompensation, the RPD must sell their power in the power exchange as a price taker. Thus, the compensation would be limited to the difference of the actual generation up to declared capacity subject to a maximum of up to the Contracted Capacity contracted capacity and the quantum of power scheduled by the Buying Entity. (a) For RE Power: 90% of Net realization above RE Tariff (b) For Thermal Power: 50% of Net realization above variable Charges of Non-RE Tariff Tariff shall be the Tariff as per Article 9. The RPD shall be eligible for payment from the Buying EntityEntities, corresponding to the reduced offtake of power as per above mentioned methodology. The Payment is to be done as part of the energy bill xxxx for the successive month after receipt of Regional Energy Accounts (REA)/SEA/JMRREA). No Trading Margin shall be applicable on this Payment. It is hereby clarified that for the purpose of Article 4.10, “generation” shall mean scheduled energy based on Energy Accounts. The RPD shall not be eligible for any compensation in case the Backdown is on account of events like consideration of grid security or safety of any equipment or personnel or other such conditions or Force Majeure.

Appears in 1 contract

Samples: Power Purchase Agreement

Payment in case of reduced offtake. The RPD and the Buying Entity Utility shall follow the forecasting and scheduling process as per the regulations in this regard by the Appropriate Commission. In case the Project plant is available to supply power but the off- take of power is not done by the Buying EntityUtility, including non-dispatch of power due to non-compliance with “Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 notified by the Order No. 23/22/2019-R&R dated 28.06.2019 of Ministry of Power vide Gazette notification dated 3rd June 2022regarding Opening and maintaining of adequate Letter of Credit (LC) as Payment Security Mechanism under Power Purchase Agreements by Distribution Licensees” and any clarifications or amendment thereto, considering the principle of ‘must run’ status for RE Power, and the Fixed charges for non-RE power, if any, the RPD shall be eligible for payment from the Buying EntityProcurer, corresponding to the reduced offtake, in terms of following manner. Grid unavailability beyond 175 hours in a Contract Year, as defined in SECI- RPD PPA Generation Compensation = (Tariff x RE power (MW) offered but not scheduled by the Buying Entity) X 1000 X No. of hours of Reduced Offtake However, in case of third-party sale or sale in power exchange, as price taker, the 95% of the amount realized, after deducting expenses, shall be adjusted against the Generation compensation payable, on monthly basis. Tariff shall be the Applicable Tariff as per Article 9 of the PPA. The above compensation will be paid to the RPD on an annual basis. For claiming either of the above two compensationscompensation, the RPD must sell their power in the power exchange as a price taker. Thus, the compensation would be limited to the difference of the actual generation up to declared capacity subject to a maximum of up to the Contracted Capacity contracted capacity and the quantum of power scheduled by the Buying EntityProcurer. (a) For RE Power: 95% of realization after deducting actual expenses, if any, in such sale (b) For Non-RE Power : 95% of realization above variable Charges of Non-RE Tariff after deducting actual expenses, if any, in such sale. Weighted average levelized Tariff shall be the Applicable Tariff as per Article 9 of PPA. The RPD shall be eligible for payment from the Buying Entity, corresponding to the reduced offtake of power Power as per above mentioned methodology. The Payment is to be done as part of the energy bill for the successive month after receipt of Regional Energy Accounts (REA). No Trading Margin shall be applicable on this Payment. The RPD shall not be eligible for any compensation in case the Backdown is on account of events like consideration of grid security or safety of any equipment or personnel or other such conditions or Force Majeure. The Generation Compensation shall be paid as part of the energy bill for the successive month after receipt of Energy Accounts (REA)/SEA/JMR. No Trading Margin shall be applicable on this Paymentthe Generation Compensation as provided in Article 2.13.3 only.

Appears in 1 contract

Samples: Power Sale Agreement

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Payment in case of reduced offtake. The RPD and the Buying Entity shall follow the forecasting and scheduling process as per the regulations in this regard by the Appropriate Commission. In case the Project is available to supply power but the off- take of power is not done by the Buying Entity, including non-dispatch of power due to non-compliance with “Electricity (Late Payment Surcharge and Related Matters) Rules, 2022 notified by the Order No. 23/22/2019-R&R dated 28.06.2019 of Ministry of Power vide Gazette notification dated 3rd June 2022regarding Opening and maintaining of adequate Letter of Credit (LC) as Payment Security Mechanism under Power Purchase Agreements by Distribution Licensees” and any clarifications or amendment thereto, considering the principle of ‘must run’ status for RE Power, and the Fixed charges for Non RE Power, the RPD shall be eligible for payment from the Buying Entity, corresponding to the reduced offtake, in terms of following manner. Grid unavailability beyond 175 hours in a Contract Year, as defined in SECI- RPD PPA Generation Compensation = (Tariff x RE power (MW) offered but not scheduled by the Buying Entity) X 1000 X No. of hours of Reduced Offtake However, in case of third-party sale or sale in power exchange, as price taker, the 95% of the amount realized, after deducting expenses, shall be adjusted against the Generation compensation payable, on monthly basis. Tariff shall be the Applicable Tariff as per Article 9 of the PPA. The above compensation will be paid to the RPD on an annual basis. For claiming either of the above two compensationscompensation, the RPD must sell their power in the power exchange as a price taker. Thus, the compensation would be limited to the difference of the actual generation up to declared capacity subject to a maximum of up to the Contracted Capacity contracted capacity and the quantum of power scheduled by the Buying Entity. (a) For RE Power: 95% of realization after deducting actual expenses, if any, in such sale (b) For Non-RE Power: 95% of realization above variable Charges of Non-RE Tariff after deducting actual expenses, if any, in such sale. Tariff shall be the Tariff as per Article 9. The RPD shall be eligible for payment from the Buying Entity, corresponding to the reduced offtake of power as per above mentioned methodology. The Payment is to be done as part of the energy bill for the successive month after receipt of Energy Accounts (REA)/SEA/JMR. No Trading Margin shall be applicable on this Payment. It is hereby clarified that for the purpose of Article 4.10, “generation” shall mean scheduled energy based on Energy Accounts. The RPD shall not be eligible for any compensation in case the Backdown is on account of events like consideration of grid security or safety of any equipment or personnel or other such conditions or Force Majeure.

Appears in 1 contract

Samples: Power Purchase Agreement

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