Replacement Energy Clause Samples

Replacement Energy. “Replacement Energy” shall have the definition set forth in the Power Purchase Agreement.

Replacement Energy. Seller may reduce the amount of Shortfall Energy by providing Replacement Energy in the same Contract Year. The Replacement Energy shall be delivered to Buyer at the Points of Delivery on a delivery schedule reasonably approved by Buyer and consistent with the Project’s historic delivery profile. As employed in this Agreement, “Replacement Energy” means Energy and associated Green Attributes that is produced by a Replacement Unit (a) for which Seller has obtained rights to sell prior to the time that the Energy and associated Green Attributes have been generated, (b) that Seller has not sold or transferred to any other person or entity, (c) that is free and clear of all encumbrances, (d) that includes Green Attributes that have the same value and the same vintage with respect to the timeframe for retirement of such Green Attributes as the Green Attributes that would have been generated by the Project during the period for which the Replacement Energy is being provided; and (e) that is transferred to Buyer in real time.

Replacement Energy. The amount of Shortfall Energy shall first be reduced by the amount of any Excess Energy delivered during the applicable Shortfall Makeup Period. To the extent there remains Shortfall Energy after the end of the applicable Shortfall Makeup Period, Seller shall, within ninety (90) days following the end of such Shortfall Makeup Period, provide Buyer with that quantity of Replacement Energy that is sufficient to make up the remaining Shortfall Energy in full. The Replacement Energy shall be delivered to Buyer at the Points of Delivery on a delivery schedule consistent with the Project’s historic percentage of on-peak and off-peak Delivered Energy. As employed in this Agreement, “Replacement Energy” means Energy produced by a facility other than one of the Facilities that, at the time delivered to Buyer, is (A) both RPS Compliant and EPS Compliant, (B) qualifies under California Public Utilities Code Section 399.16(b)(1), and (C) includes Environmental Attributes that have the same value and the same or comparable vintage with respect to the timeframe for retirement of such Environmental Attributes, if any, as the Environmental Attributes that would have been generated by the Project during the period for which the Replacement Energy is being provided.

Replacement Energy. 4.7.1.1 The cost of replacement energy is calculated as the difference in the cost of NSP generation and purchases to supply NSP native requirements with and without the supply of steam to NORENCO. The change in NSP generation cost will include the changes in fuel and maintenance for startup and hours of operation, and the incremental ash disposal cost. The change in billing cost for purchases with and without the supply of steam to NORENCO will also be used in the calculation.

Replacement Energy. Energy supplied by Buyer that replaces energy that would have been supplied by Old Dominion Peaking Generation but for the circumstances specified in Section 8.04(b)(ii)(C) of this Agreement. Issued by: Greg▇▇▇ ▇. ▇▇▇▇▇▇ Effective: [SUPPLY] Managing Director of Energy Supply Issued on: [SUPPLY] Virginia Electric and Power Company FERC Electric Tariff Original Volume No. 6 Original Service Agreement No. 25 Original Sheet No. 18

Replacement Energy. If Seller fails to provide the full amount of Shortfall Energy by the end of the third Contract Year following the Contract Year of the shortfall, or the fourth Contract Year if the shortfall is caused by a Force Majeure event, Seller shall provide to Buyer replacement energy at the Point of Delivery including associated Environmental Attributes comparable to those associated with the Energy produced by the Facility (“Replacement Energy”) within 180-days after the third anniversary, or fourth anniversary if shortfall is caused by a Force Majeure, on a delivery schedule consistent with the Facility’s historic percentage of On Peak and Off Peak Delivered Energy, or other delivery schedules as mutually agreed to by the Parties, provided that such schedule shall not cause the Delivered Energy to be delivered at a rate greater than 200 MW. If Seller fails to deliver Replacement Energy as described above then Buyer shall purchase Replacement Energy and Seller shall reimburse Buyer for said Replacement Energy and promptly notify Seller of the cost of such Replacement Energy.

Replacement Energy. (a) Subject to clauses (b) and (c) of this Section 3.7, in the event of a Planned Outage, Maintenance Outage, Forced Outage, or an outage in connection with a Force Majeure Event or any other Seller Excuse, during the period of such outage, Buyer (i) has the right to purchase replacement energy as necessary and (ii) shall be relieved from the obligation to receive and purchase, or cause to be received and purchased, Buyer’s Share of the Energy at the Delivery Point; provided, that Seller shall have no obligation to reimburse Buyer for any such replacement energy. (b) In connection with any outage for which Seller delivers written Notice (including by e-mail) to Buyer stating that Seller anticipates such outage will continue for forty-eight (48) hours or more, and Seller has delivered a Plan to Buyer: (i) Buyer may, upon written Notice to Seller, Collateral Agent or Tax Equity Investor(s) (as applicable), purchase replacement energy for a period of time equal to the lesser of (A) the remaining period of time outlined in such Plan, or (B) seven (7) days; provided, for the avoidance of doubt, that if the Plan provides a timeline greater than seven (7) days to resume the delivery of Energy to the Delivery Point, Buyer may continue to purchase replacement energy upon written Notice to Seller, Collateral Agent or Tax Equity Investor (as applicable) on a rolling basis until the date on which delivery of Energy to the Delivery Point is anticipated to resume, as specified in the Plan; (ii) Buyer shall not be obligated to purchase or receive Delivered Energy during such period; and (iii) Seller, Collateral Agent or Tax Equity Investor(s) (as applicable) shall provide regular Plan updates to Buyer. (c) In connection with any outage that is not a Planned Outage or a Maintenance Outage and for which Seller fails to deliver written Notice (including by e-mail) to Buyer within twenty-four (24) hours after the occurrence of such outage. (i) Buyer may, upon written Notice to Seller, Collateral Agent or Tax Equity Investor(s) (as applicable), purchase replacement energy for a period of time equal to seven (7) days, and Buyer may continue to purchase replacement energy upon written Notice to Seller or Collateral Agent (as applicable) on a rolling basis until the date on which delivery of Energy to the Delivery Point is anticipated to resume, as specified in a Plan; (ii) Buyer shall not be obligated to purchase or receive Delivered Energy during such period; and (iii) Seller,...

Replacement Energy. [In the event of a Planned Outage, Maintenance Outage, Forced Outage, or an outage in connection with a Force Majeure Event or any other Permitted Excuses, Buyer has the right to purchase replacement energy as necessary for the period of such outage; provided, that Seller shall have no obligation to reimburse Buyer for such replacement energy; and provided further, that nothing in this Section 3.7 shall impact Buyer’s obligations in Section 3.2(a). In connection with an outage for which a plan has been delivered pursuant to Section 7.1(a)(iii) (Events of Default) , 16.1 (Force Majeure), or section 3(a) of a consent to assignment delivered pursuant to Section 15.2(d), Buyer (i) may purchase replacement energy after consultation with Seller or Collateral Agent (as applicable) regarding such plan or any updates thereto, for a period of time equal to the lesser of (A) the remaining period of time outlined in such plan or (B) seven days, and (ii) shall not be obligated to pay for Delivered Energy during such period. For the avoidance of doubt, in the event that a plan described in this Section 3.7 anticipates a timeline greater than seven (7) days, Buyer may continue to purchase replacement energy after consultation with Seller or Collateral Agent (as applicable) on an iterative basis until Seller resumes the delivery of Energy to the Delivery Point.]

Replacement Energy. If Seller elects to provide Replacement Energy for any Shortfall Energy, then Seller may, at any time during the applicable Shortfall Makeup Period provide Buyer with (i) that quantity of Replacement Energy that is equal to all or any portion of the Shortfall Energy. Buyer shall pay Seller for Replacement Energy at the Contract Price applicable to the Shortfall Energy. The Replacement Energy shall be delivered to Buyer at the Point of Delivery (or another point of delivery reasonably acceptable to Buyer) on a delivery schedule consistent with the Facility’s historic percentage of on-peak and off-peak Delivered Energy or as otherwise agreed by Seller and Buyer. As employed in this Agreement, “Replacement Energy” means Energy produced by a facility (or facilities) other than the Facility that, at the time delivered to Buyer, (A) is both RPS Compliant and EPS Compliant, (B) qualifies under California Public Utilities Code Section 399.16(b)(1) as amended from time to time and any successor law or regulation of similar applicability and effect, provided that any Replacement Energy is eligible to be counted within the same RPS Law compliance period as the compliance period during which the initial applicable Shortfall Energy occurred, (C) includes Environmental Attributes that have the same or comparable value, including with respect to the timeframe for retirement of such Environmental Attributes, if any, as the Environmental Attributes that would have been generated by the Facility during the period for which the Replacement Energy is being provided, and (D) provides the equivalent RA/LCR Attributes.