Pricing Methodologv. B.C. Hydro and Pmverex acknowledge that from time to time during the tel'll1 of this Agreement different methods for determining the Electricity Transfer Price or Gas Transfer Price, as the case may be, may be appropriate to meet the applicable Transfer Pricing Principle. No earlier than April I, 2004 or 12 months since the pricing methodology was last established, if a party believes that the then current pricing methodology for determining the Electricity Transfer Price or the Gas Transfer Price, as the case may be, (including any values established under it) would produce a price that does not 111eetthe Transfer Pricing Principle during the next 12 months, the party may, by 2319363.4 notice to the other party, seek to renegotiate the then current pricing methodology. The parties shall negotiate in good faith to establish,within 90 days of such notice, a new pricing methodology for determining the Electricity Transfer Price or the Gas Transfer Price, as the case may be, to replace the then current methodology. If the parties are unable to negotiate a new pricing methodology for detenl1ining the Electricity Transfer Price or the Gas Transfer Price, as the case may be, within such time, either party may submit the matter to dispute resolution pursuant to Section 19. Upon agreement or determination of the new pricing methodology by dispute resolution, the new pricing methodology shall become effective at the beginning of the month immediately following the 90th day after the initial notice and the parties shall adjust amounts paid from that date. In no event shaH the parties adjust the amounts paid or payable for any period prior to the effective date of the new pricing methodology.
