Peak Forward Market Price. The Initial Mark for the Off-Peak Forward Market Price will be the Initial Mark for the On-Peak Forward Market Price multiplied by the off-peak to on-peak price ratio for the month from Table 2. Each Business Day during the term of this Agreement, each of the Companies will calculate the Mark for On-Peak Forward Market Prices based on the following methodology: ▪ For each month, if the Companies or their agent are able to obtain Available Broker Quotes (as defined above), each of the Companies will include such quotes in the calculation of the MtM. For a given month, the Available Broker Quotes used may be quoted specific to that month or for a multi-month block period containing the given month. If the Companies obtain multiple Available Broker Quotes that contain a given month, the Available Broker Quote for the shortest available period will be used to calculate the Available Broker Quote used to set the Mark for the given month. Thus, if the Companies or their agent are unable to obtain an Available Quote specific to that month, but can "back out" a monthly quote proxy using multi-month block Available Broker Quotes, the "backed out" price method will be utilized. ▪ If, on a given Business Day, the Companies or their agent are not able to obtain Available Broker Quotes, the Companies will look to alternative sources of price data and will rely on the prices from alternative data sources to update the Mark for the On-Peak Forward Price, if pricing data is available from the alternative sources. ▪ If Broker quotes for a given month are not available on a given Business Day (the “Current Business Day”) and pricing data is unavailable from alternative sources for that month, the On- Peak Forward Market Prices for that month will be updated based on the change in On-Peak Forward Market Prices between the prior Business Day and the Current Business Day for those same months in different years during the Delivery Period for which quotes are available for the Current Business Day. ▪ If, on a given Business Day, the Company or its agent is not able to obtain an Available Broker Quote for a given calendar month of any year during the Delivery Period, and pricing data from alternative sources for the given calendar month for any year during the Delivery Period is also unavailable, then each of the Companies will set the On-Peak Forward Market Price using a methodology that utilizes the best information available to each of the Companies at that time. As noted abo...
Peak Forward Market Price. On each Business Day during the term of this Agreement, [the Company / the Companies] will calculate the change in On-Peak Forward Market Price for each month to be the difference between that day’s “Mark” (the current On-Peak Forward Market Price for that month) and the “Initial Mark” (the On-Peak Forward Market Price for that month as of the closing day of the Illinois Auction.) Initial Marks determined at the close of the Illinois Auction are provided in Table 1. These values are fixed for the term of this Agreement.
