Common use of Xxxx-to-Market Credit Exposure Methodology Clause in Contracts

Xxxx-to-Market Credit Exposure Methodology. To calculate the daily exposure for each BGS-RSCP Supplier the Xxxx-to-Market (“MtM”) credit exposure methodology will be used. The “xxxx” for each Billing Month will be determined at the time the auction is completed based on the available Forward Market Prices and for the remaining Billing Months will be derived based on historical data. At the time the auction is completed, the MtM credit exposure for each BGS-RSCP Supplier shall be equal to zero. Subsequently, the differences between the available Forward Market Prices on the valuation date and the “xxxx” prices for the corresponding Billing Months will be used to calculate the daily credit exposures for each BGS-RSCP Supplier. The total MtM credit exposure will be equal to 1.1 times the sum of the MtM credit exposures for each Billing Month. The methodology for calculation of the MtM credit exposure is illustrated in the example (using hypothetical numbers) set forth in Appendix B hereto.

Xxxx-to-Market Credit Exposure Methodology. To calculate the daily exposure for each BGS-RSCP DS Supplier the Xxxx-to-Market (“MtM”) MtM credit exposure methodology will be used. The “xxxx” for each Billing Month will be determined at the time the auction is completed based on the available Forward Market Prices and for the remaining Billing Months will be derived based on historical data. At the time the auction is completed, the MtM credit exposure for each BGS-RSCP DS Supplier shall be equal to zero. Subsequently, the differences between the available Forward Market Prices on the valuation date and the “xxxx” prices for the corresponding Billing Months will be used to calculate the daily credit exposures for each BGS-RSCP DS Supplier. The total MtM credit exposure will be equal to 1.1 times the sum of the MtM credit exposures for each Billing Month. The methodology for calculation of the MtM credit exposure is illustrated in the example (using hypothetical numbers) set forth in Appendix B hereto.

Xxxx-to-Market Credit Exposure Methodology. To calculate the daily exposure for each BGS-RSCP FP Supplier the Xxxx-to-Market (“MtM”) credit exposure methodology will be used. The “xxxx” for each Billing Month will be determined at the time the auction is completed based on the available Forward Market Prices and for the remaining Billing Months will be derived based on historical data. At the time the auction is completed, the MtM credit exposure for each BGS-RSCP FP Supplier shall be equal to zero. Subsequently, the differences between the available Forward Market Prices on the valuation date and the “xxxx” prices for the corresponding Billing Months will be used to calculate the daily credit exposures for each BGS-RSCP FP Supplier. The total MtM credit exposure will be equal to 1.1 times the sum of the MtM credit exposures for each Billing Month. The methodology for calculation of the MtM credit exposure is illustrated in the example (using hypothetical numbers) set forth in Appendix B hereto.

Xxxx-to-Market Credit Exposure Methodology. To calculate the daily exposure for each BGS-RSCP SSO Supplier the Xxxx-to-Market (“MtM”) credit exposure methodology will be used. The “xxxx” for each Billing Month will be determined at the time the auction competitive bidding process is completed based on the available Forward Market Prices and for the remaining Billing Months will be derived based on historical dataand, if Forward Market Prices are not available, using a proprietary method that reflects forward market conditions. At the time the auction competitive bidding process is completed, the MtM credit exposure for each BGS-RSCP SSO Supplier shall be equal to zero. Subsequently, the differences between the available Forward Market Prices on the valuation date and the “xxxx” prices for the corresponding Billing Months will be used to calculate the daily credit exposures for each BGS-RSCP SSO Supplier. The total MtM credit exposure will be equal to 1.1 times the sum of the MtM credit exposures for each Billing Month. The methodology for calculation of the MtM credit exposure is illustrated in the example (using hypothetical numbers) set forth in Appendix B C hereto.