Compensated Curtailment definition
Examples of Compensated Curtailment in a sentence
Notwithstanding the above, should Buyer fail to receive verification of its determination of an Exempt Operational Period from the MPSC as described in 18 CFR § 292.304(f)(4), if applicable, then such determination shall be deemed to be a Compensated Curtailment and Buyer shall be obligated to make such payments for all electric energy which Seller had available at the Plant, whether or not delivery of such electric energy was suspended due to Buyer’s notification to Seller under 18 CFR § 292.304(f)(4).
In the event the delivery of energy is curtailed due to a reason that qualifies as a Compensated Curtailment, and such curtailment results in Lost Production, Seller shall be entitled to Lost Production Damages on a monthly basis as its sole and exclusive remedy and Buyer’s sole and exclusive liability.
For the avoidance of doubt, the Parties agree that an Excused Curtailment shall mean all curtailments other than a Compensated Curtailment.
Seller shall calculate the amount of Contract Energy the Facility would have produced and delivered to the Point of Delivery but for a Compensated Curtailment using actual availability of the Facility during the applicable period.
Moreover, before the Annual Non-compensated Curtailment Cap has been reached, Supplier may nominate any specific curtailment interval as Compensated Curtailment and make Customer whole under the Compensated Curtailment provisions, in which case such curtailment will not count against the Annual Non-compensated Curtailment Cap.
Any curtailment in excess of the Annual Non-compensated Curtailment Cap shall be considered Compensated Curtailment and governed by the provisions concerning Compensated Curtailment set forth in this Section 2 of this TC.
If Compensated Curtailment resulting from transmission outages or other reasons is consistent for more than 96 full or partial hours, MP shall be obligated to pay Seller as determined pursuant to Section 8.06(b).
On a bi-weekly basis, Supplier shall report to Customer the running total of Non-compensated Curtailment and the Compensated Curtailment for the calendar year; provided that, if the Non-compensated Curtailment cap has been reached prior to the end of any calendar year, Supplier shall promptly notify customer in writing that the Non-compensated Curtailment cap has been reached for such calendar year.
During the Delivery Term and the Compensated Curtailment Payback Period (if applicable), Seller shall be its own Scheduling Coordinator or designate a qualified third party to provide Scheduling Coordinator services with the CAISO to Schedule and deliver the Product to the Delivery Point, and Buyer shall be its own Scheduling Coordinator or designate a qualified third party to provide Scheduling Coordinator services with the CAISO.
Notwithstanding anything else in this PPA to the contrary, MP shall not be required to pay any amount for full or partial hours of Compensated Curtailment.