Tariff Structures Sample Clauses

Tariff Structures. The tariff is one of the most important aspects of any PPA. When used in this chapter, the term tariff is understood to include a few components. First, it encompasses the actual price that the offtaker pays to the project company for capacity made available and/or energy generated. The currency unit used is usually determined by regulation, availability of foreign currency, the currency of the EPC agreement, or the currency in which the loans are denominated. The tariff also includes the broader set of terms and conditions that surround the price. These other terms determine the amount of money the offtaker will pay to the project company each month. This section will explain: 1. The types of tariff structures (capacity-based vs. non-capacity-based) that are commonly found in PPAs. 2. The methods that can be used to establish the price per unit of capacity that is made available and/or per unit of energy that is generated. 3. How take-or-pay obligations under fuel contracts impact and should be reflected in the tariff that is payable under the PPA. 4. How the length of the term of a PPA impacts the tariff. 5. How deemed energy can be calculated. Different tariff structures are used for dispatchable and non-dispatchable technologies. 6. FINANCIAL PROVISIONS generation facilities such as gas turbines (whether single or combined cycle), reciprocating engines that are fueled by gas, diesel or heavy fuel oil, coal-fired generation facilities, and hydroelectric facilities (other than most run-of-river facilities).
Sample 1
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Tariff Structures generated using the renewable resource when and to the extent that resource is available or (in the absence of any storage capacity associated with the plant (see the storage case study in Bankability section) the energy will be lost). Although storage may help deal with intermittency, it will not make renewable power dispatchable (because of the remaining risk that adverse weather conditions will persist beyond the storage system capacity). As a result of this defining characteristic, very different tariff structures are used for dispatchable and non-dispatchable technologies. The two sections below describe the two different types of tariff structures that are commonly used in connection with dispatchable and non-dispatchable technologies.
Sample 1
Tariff Structures. The Capacity Charge is sized to enable the project company to earn revenues under the PPA that are sufficient to enable the project company to: 1. Repay the project loans (and in some cases associated infrastructure such as transmission lines). 2. Pay the sponsors a return on the equity and quasi-equity (such as shareholder loans) invested by them (and, in the case of a project company that is structured on a build-operate-transfer basis, return the equity and quasi-equity invested by the sponsors over the term of the PPA). 3. Pay all corporate and other taxes that are assessed on the project company and its properties. 4. Pay for fixed operations and maintenance costs and any other agreed project costs that will be incurred by the project company regardless of the dispatch factor. The Energy Charge is sized to enable the project company to earn sufficient revenues under the PPA to allow the project company to: (a) recover the cost of any fuel used to generate the energy dispatched by, and delivered to, the offtaker; and (b) pay for any operation and maintenance costs that vary depending on the quantity of energy produced by the power plant. As a result of this tariff structure, the project company is indifferent to actual dispatch levels because the project company’s capital and fixed operations and maintenance costs are recovered through the Capacity Charge, which is payable regardless of the level of dispatch. As a result, it is not necessary for the project company to charge a risk premium to bear market risk. At the same time, this tariff structure reflects the true nature of project company costs and is consistent with the principles of economic dispatch.
Sample 1
Tariff Structures. It is also useful to note that in the event that the project company is not able to make capacity available due to risks that the offtaker has agreed to bear, then the capacity will be deemed to be available to the offtaker. Examples of such risks include risks related to the availability of the transmission system to take energy from the power plant, the availability of fuel (if the offtaker is responsible for providing fuel), and political force majeure events.
Sample 1

Related to Tariff Structures

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