Sale of Capacity and Energy. As soon as is reasonably practicable after all requirements set forth herein are met following the Authorization Date of this Agreement, the Seller will sell, and EKPC will purchase, electric capacity and energy from the Seller’s Qualifying Facility at the Delivery Point, on a non-dispatchable basis for periods when power and energy generated by the Seller is in excess of the Seller's own needs. The electric power delivered by the Seller and purchased by EKPC shall be metered and paid for as set forth on the attached Schedule C.
Sale of Capacity and Energy. 4 7. Continuity of Deliveries and Economic Dispatch................. 5 8.
Sale of Capacity and Energy. Section 6.(a)(2) of the Agreement is amended to read as follows:
Sale of Capacity and Energy. (a) Subject to the provisions of this Agreement, Seller shall provide to Sierra and Sierra shall purchase Firm Capacity and Firm Energy in the following manner:
(1) Firm Capacity during each billing period in the Term hereof in amounts not less than the Peak Period Capacity values specified in Exhibit B, and
(2) Firm Energy which is expected to total approximately 111,400,000 kilowatt hours in any Contract Year subject to the restrictions specified in Section 15 of this Agreement.
(b) Sierra shall, at the end of the third Contract Year and the end of each Contract Year thereafter, calculate the three year rolling average of the Peak Period Capacity for the three immediately preceding Contract Years. Such three year rolling average shall be the sum of the billing period Peak Period Capacity values for each of the thirty-six (36) months divided by thirty-six (36). If such three year rolling average is greater than or equal to 95% of the Average Peak Period Capacity value specified in Exhibit B, then the capacity rate to be paid pursuant to Section 8 for the ensuing Contract Year shall be the amount specified in Exhibit D. If such three year rolling average is less than 95% and greater than or equal to 85% of the Average Peak Period Capacity value specified in Exhibit B, then the capacity rate to be paid pursuant to Section 8 for the ensuing Contract Year shall be reduced one percent (1%) for each one percent (1%) of portion thereof that such average is below 100% of the average Peak Period Capacity value specified in Exhibit B; provided, however, that during the last fifteen (15) Contract Years of the Term of this Agreement, the reduction in the capacity rate shall be 1.3% for each one percent (1%) or portion thereof that the three year rolling average is below 100% of the Average Peak Period Capacity value specified in Exhibit B. If the three year rolling average is less than 85% of the Average Peak Period Capacity value specified in Exhibit B, then Seller shall pay Sierra for liquidated damages the sum of $1,000,000 adjusted as described below. Liquidated damages shall be a lump sum one time payment in 1992 dollars and shall be subject to adjustment yearly commencing November, 1992 at the same percentage rate as the preliminary value for The Gross National Product Deflator ("GNPD") increase as reported in the Joint Economic Committee Report published by the United States Department of Commerce, Bureau of Economic Analysis. Such adjusted amount shall be det...
Sale of Capacity and Energy. Seller shall sell and Sierra shall purchase all capacity and energy generated, available for sale, and delivered to the Point of Delivery from Seller's Project. Seller's Project means a geothermal plant located within Sierra's service territory near Steamboat, Nevada, consisting of two (2) units with a total site specific nameplate rating of 2,000 kilowatts. Specific make, model, and generator nameplate rating for the units are contained in Exhibit A, Project Unit Listing.
Sale of Capacity and Energy. 6 7. Determination of Commercial Operation Date..................... 8 8. Rate........................................................... 9 9.
Sale of Capacity and Energy. (a) Subject to the provisions of this Agreement Seller shall provide to Sierra and Sierra shall purchase Firm Capacity and Firm Energy in the following manner:
(1) Peak Period Capacity during each billing period in the Term hereof in amounts not less than the Peak Period Capacity values specified in Exhibit B, and
(2) Firm Energy which is expected to total approximately 111,500,000 kilowatt hours in any Contract Year subject to the restrictions specified in Section 15 of this Agreement.
(b) At the end of the third Contract Year, and the end of each Contract Year thereafter, Sierra shall perform the following calculations: 1) calculate the three year average of the Peak Period Capacity for the three immediately preceding years by adding the billing period Peak Period Capacity for those thirty-six (36) months and dividing by thirty-six (36).
Sale of Capacity and Energy. (a) Subject to and in accordance with the terms and conditions set out in this Agreement, following the Commercial Operation Date:
(i) the Seller shall make available the Net Capacity to the Buyer and generate (or procure that the Owner generates, if applicable) and sell Commercial Energy to the Buyer at the Point of Metering or as agreed in the connection agreement, on a self-dispatch basis, and subject only to the Codes and the standards of a Reasonable and Prudent Operator; and
(ii) The Buyer shall pay for Commercial Energy.
(b) Title in, and risk of loss of, the Commercial Energy sold to the Buyer in accordance with this Agreement shall pass to the Buyer at the Delivery Point.
Sale of Capacity and Energy. 8 7 DETERMINATION OF COMMERCIAL OPERATION DATE AND CONTRACT RATING ............................. 9 8 RATE .............................................. 10 9
Sale of Capacity and Energy
