Common use of Residential and Type I Base Load Percentages Clause in Contracts

Residential and Type I Base Load Percentages. i. Upon the first day of the Delivery Period, Buyer shall determine the Capacity PLC, stated in megawatts, associated with each Bid Block in each Transaction (“Base PLC Per Bid Block”). Subsequent to the determination of the Base PLC Per Bid Block, and on each Business Day thereafter, Buyer shall determine the Capacity PLC, stated in megawatts, associated with each Bid Block in each Transaction (“PLC Per Bid Block”). The Base Load Percentage shall equal 100% if the PLC Per Bid Block is less than or equal to the Base PLC Per Bid Block plus five (5) megawatts. The Base Load Percentage shall equal the product of: (i) the quotient of the Base PLC Per Bid Block plus five (5) megawatts and the PLC Per Bid Block; and (ii) 100 if the PLC Per Bid Block is greater than the Base PLC Per Bid Block plus five (5) megawatts. On any Business Day when the PLC Per Bid Block is equal to or less than the Base PLC Per Bid Block minus three (3) megawatts, a new Base PLC Per Bid Block shall be established and shall equal the Base PLC Per Bid Block in effect the day prior to such event, minus three (3) megawatts for each whole multiple of three (3) megawatts that the PLC Per Bid Block is below the prior day Base PLC Per Bid Block. Such new Base PLC Per Bid Block shall replace the prior Base PLC Per Bid Block in all aspects of determining the Residential and Type I Base Load Percentages subsequent to such new Base PLC Per Bid Block becoming effective.