Regarding the GNPIPD adjustment factor Sample Clauses

Regarding the GNPIPD adjustment factor. Where the Power Purchase Agreement provides for adjustment of dollar values in accordance with the GNPIPD adjustment factor, including the dollar values for the Non-Fuel Component of the Energy Charge and the dollar value for the minimum energy purchase shortfall calculations, the GNPIPD adjustment factor shall be calculated as follows: a. The GNPIPD adjustment factor shall be calculated by dividing the previous year’s fourth quarter Final GNPIPD value by the fourth quarter 1987 Final GNPIPD value. b. In calculating the GNPIPD adjustment factor, the previous year’s fourth quarter Final GNPIPD value and the fourth quarter 1987 Final GNPIPD value shall be numbers published by U.S. Bureau of Economic Analysis (“BEA”). c. In calculating the GNPIPD adjustment factor, both the previous year’s fourth quarter Final GNPIPD value and the fourth quarter 1987 Final GNPIPD value shall be selected from the same BEA publication release to ensure that the numbers were determined using consistent BEA approved methodologies for both GNPIPD values. HECO and Kalaeloa recognize that the BEA routinely reviews and, as it deems appropriate, updates past GNPIPD quarterly values. Such reviews and updates may cause the fourth quarter 1987 Final GNPIPD value to change during the term of the Power Purchase Agreement. Such reviews and updates will not cause a recalculation of invoices issued prior to the release of the updated GNPIPD values. d. The BEA typically publishes the previous year’s fourth quarter Final GNPIPD value about three months following the previous year end. Invoices of capacity and energy delivered in each month of the current year shall utilize the published previous year’s fourth quarter Final GNPIPD value. The invoices for capacity and energy delivered in the current year that are issued prior to the BEA publishing of the previous year’s fourth quarter Final GNPIPD value (typically involving the January and February capacity and energy deliveries) will be calculated using the GNPIPD adjustment factor used during the previous year, and then recalculated following BEA publishing of the previous year’s fourth quarter Final GNPIPD value.
Sample 1
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Related to Regarding the GNPIPD adjustment factor

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