XXX Period Energy Price during the Floor Test Term Sample Clauses

XXX Period Energy Price during the Floor Test Term. If there is a cap-and-trade program in California for the regulation of Greenhouse Gas, as established by the CARB (or by a different Governmental Authority pursuant to federal or state legislation), then, during the Floor Test Term, the XXX Period Energy Price will be the higher of the following two formulas (the “GHG Floor Test”): XXX Period Energy Price $/kWh = ((Market Heat Rate * BTGP/1,000,000) + VOM) * TOU + LA Where: Market Heat Rate (Btu/kWh) = As defined in Exhibit A; BTGP ($/MMBtu) = As set forth above; VOM ($/kWh) = As set forth above; TOU = As set forth above; and LA ($/kWh) = As set forth above. OR XXX Period Energy Price $/kWh = ((Applicable HR * (BTGP + GHG Allowance Price) /1,000,000) + VOM) * TOU + LA + GHG Charges Where: Applicable HR = (A) 8,225 Btu/kWh through December 31, 2012; (B) 8,125 Btu/kWh from January 1, 2013 through December 31, 2014; and (C) Actual HR from January 1, 2015 until the end of the Floor Test Term; BTGP ($/MMBtu) = As set forth above; GHG Allowance Price ($/MMBtu) = Allowance Cost ($/MT) * 117lbs of Greenhouse Gas per MMBtu / 2,204.6 lbs per MT Where: Allowance Cost ($/MT) = The cost of one Allowance, determined using the GHG Auction clearing price from the latest GHG Auction that has taken place during the calendar quarter immediately preceding the date that Buyer’s payment is due to Seller; provided, however, that if there is no GHG Auction held during the applicable time-period, then the Allowance Cost is determined in accordance with Section 2(c) of this Exhibit S; VOM ($/kWh) = As set forth above; GHG Charges ($/kWh) = As set forth above; TOU = As set forth above; and LA ($/kWh) = As set forth above.
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XXX Period Energy Price during the Floor Test Term. (a) If there is a cap-and-trade program in California for the regulation of Greenhouse Gas, as established by the CARB (or by a different Governmental Authority pursuant to federal or state legislation), then, during the Floor Test Term, the XXX Period Energy Price will be the higher of the following two formulas (the “GHG Floor Test”):
Sample 1

Related to XXX Period Energy Price during the Floor Test Term

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