Common use of Value for Money Clause in Contracts

Value for Money. 13.1 The procedure by which WEPCo shall produce evidence as to whether or not its proposals in respect of a New Project which is a Qualifying Project deliver value for money is as set out in Schedule 5 (Approval Process for New Projects), Schedule 6 (New Project Pricing Report) and the relevant provisions of Section 5B (Partnering Services Method Statements - Project Development Partnering Services) of Schedule 3 (Partnering Services). 13.2 WEPCo shall ensure that the procedures implemented pursuant to this Agreement in order to demonstrate value for money and continuous improvement in value for money will be carried out at all times openly, fairly and with full transparency and in a manner such that the Participants are able to check compliance with the requirements in this Clause 13 (Value for money). 13.3 Throughout the course of this Agreement and of all Projects carried out pursuant to or arising out of this Agreement, WEPCo shall monitor and record in writing the predicted capital and, where applicable, whole life cost to the Project Agreement Counterparty for each Project and any increases or reductions in such estimated cost from time to time together with the reasons for all such increases or reductions. 13.4 WEPCo shall also record the final cost for:‌ 13.4.1 the design and construction of each Project; and 13.4.2 as the information becomes available over time, the actual cost of maintaining and repairing each Project throughout the duration of the relevant Project Agreement, in either case where such design and construction and/or maintenance and repair is the responsibility of the Project Service Provider under the relevant Project Agreement. 13.5 WEPCo will benchmark the costs referred to in Clause 13.4 in respect of each individual Project against such costs for all Projects. WEPCo will also break down such costs into comparable units of costs for different components of such Projects as agreed with, or as reasonably requested by, the Participants, so that a comparison can be made between the costs of similar projects and similar components from similar and different projects under the WEP Strategic Partnering Delivery Model. 13.6 Without prejudice to Section 3 (Performance Measurement) of Schedule 3 (Partnering Services), by inter alia benchmarking costs in accordance with Clause 13.5, and disregarding any effects of inflation, WEPCo will be expected to be able to demonstrate in the WEPCo Performance Report and at the Annual Reviews (and at such other times as may be reasonably requested by the Participants) lower costs and/or greater value for money to the Participants in the delivery of Projects in accordance with this Agreement over the term of this Agreement. 13.7 In relation to any proposed changes under any Project Agreement (whether the proposed change is as a result of change in law, a change requested by the Project Agreement Counterparty or otherwise) or any other matter affecting the relevant Project which may have an equivalent effect on other Projects, WEPCo shall work with the relevant Project Service Providers to achieve the best value solution for the Participants and Project Agreement Counterparties across the relevant Projects in respect of such proposed changes or other matter.

Value for Money. 13.1 The procedure by which WEPCo shall produce evidence as to whether or not its proposals in respect of a New Project which is a Qualifying Project deliver value for money is as set out in Schedule 5 (Approval Process for New Projects), Schedule 6 (New Project Pricing Report) and the relevant provisions of Section 5B (Partnering Services Method Statements - Project Development Partnering Services) of Schedule 3 (Partnering Services). 13.2 WEPCo shall ensure that the procedures implemented pursuant to this Agreement in order to demonstrate value for money and continuous improvement in value for money will be carried out at all times openly, fairly and with full transparency and in a manner such that the Participants are able to check compliance with the requirements in this Clause 13 (Value for money). 13.3 Throughout the course of this Agreement and of all Projects carried out pursuant to or arising out of this Agreement, WEPCo shall monitor and record in writing the predicted capital and, where applicable, whole life cost to the Project Agreement Counterparty for each Project and any increases or reductions in such estimated cost from time to time together with the reasons for all such increases or reductions. 13.4 WEPCo shall also record the final cost for:‌for: 13.4.1 the design and construction of each Project; and 13.4.2 as the information becomes available over time, the actual cost of maintaining and repairing each Project throughout the duration of the relevant Project Agreement, in either case where such design and construction and/or maintenance and repair is the responsibility of the Project Service Provider under the relevant Project Agreement. 13.5 WEPCo will benchmark the costs referred to in Clause 13.4 in respect of each individual Project against such costs for all Projects. WEPCo will also break down such costs into comparable units of costs for different components of such Projects as agreed with, or as reasonably requested by, the Participants, so that a comparison can be made between the costs of similar projects and similar components from similar and different projects under the WEP Strategic Partnering Delivery ModelFramework. 13.6 Without prejudice to Section 3 (Performance Measurement) of Schedule 3 (Partnering Services), by inter alia benchmarking costs in accordance with Clause 13.5, and disregarding any effects of inflation, WEPCo will be expected to be able to demonstrate in the WEPCo Performance Report and at the Annual Reviews (and at such other times as may be reasonably requested by the Participants) lower costs and/or greater value for money to the Participants in the delivery of Projects in accordance with this Agreement over the term of this Agreement. 13.7 In relation to any proposed changes under any Project Agreement (whether the proposed change is as a result of change in law, a change requested by the Project Agreement Counterparty or otherwise) or any other matter affecting the relevant Project which may have an equivalent effect on other Projects), WEPCo shall work with the relevant Project Service Providers to achieve the best value solution for the Participants and Project Agreement Counterparties across the relevant Projects in respect of such proposed changes or other matter.

Value for Money. 13.1 The procedure by which WEPCo shall produce evidence as to whether or not its proposals in respect of a New Project which is a Qualifying Project deliver value for money is as set out in Schedule 5 (Approval Process for New Projects), Schedule 6 (New Project Pricing Report) and the relevant provisions of Section 5B (Partnering Services Method Statements - Project Development Partnering Services) of Schedule 3 (Partnering Services). 13.2 WEPCo shall ensure that the procedures implemented pursuant to this Agreement in order to demonstrate value for money and continuous improvement in value for money will be carried out at all times openly, fairly and with full transparency and in a manner such that the Participants are able to check compliance with the requirements in this Clause 13 (Value for money). 13.3 Throughout the course of this Agreement and of all Projects carried out pursuant to or arising out of this Agreement, WEPCo shall monitor and record in writing the predicted capital and, where applicable, whole life cost to the Project Agreement Counterparty for each Project and any increases or reductions in such estimated cost from time to time together with the reasons for all such increases or reductions. 13.4 WEPCo shall also record the final cost for:‌for: 13.4.1 the design and construction of each Project; and 13.4.2 as the information becomes available over time, the actual cost of maintaining and repairing each Project throughout the duration of the relevant Project Agreement, in either case where such design and construction and/or maintenance and repair is the responsibility of the Project Service Provider under the relevant Project Agreement. 13.5 WEPCo will benchmark the costs referred to in Clause 13.4 in respect of each individual Project against such costs for all Projects. WEPCo will also break down such costs into comparable units of costs for different components of such Projects as agreed with, or as reasonably requested by, the Participants, so that a comparison can be made between the costs of similar projects and similar components from similar and different projects under the WEP Strategic Partnering Delivery Model. 13.6 Without prejudice to Section 3 (Performance Measurement) of Schedule 3 (Partnering Services), by inter alia benchmarking costs in accordance with Clause 13.5, and disregarding any effects of inflation, WEPCo will be expected to be able to demonstrate in the WEPCo Performance Report and at the Annual Reviews (and at such other times as may be reasonably requested by the Participants) lower costs and/or greater value for money to the Participants in the delivery of Projects in accordance with this Agreement over the term of this Agreement. 13.7 In relation to any proposed changes under any Project Agreement (whether the proposed change is as a result of change in law, a change requested by the Project Agreement Counterparty or otherwise) or any other matter affecting the relevant Project which may have an equivalent effect on other Projects, WEPCo shall work with the relevant Project Service Providers to achieve the best value solution for the Participants and Project Agreement Counterparties across the relevant Projects in respect of such proposed changes or other matter.