Compliance Instruments definition

Compliance Instruments means any benefits, attributes, instruments, tracking mechanisms, or rights associated with the generation of one (1) MWh of Energy from a source of renewable energy, as that is defined in a RPS, which may be created distinct from Environmental Attributes and transferred in the form of a certificate, credit, allowance or other indicia of ownership in accordance with and for the purposes of recording compliance with a RPS obligation.

Compliance Instruments has the meaning set forth in the Cap-and-Trade Regulations referring to allowances, CARB approved offsets or credits used to fulfill a Compliance Obligation.

Compliance Instruments means an instrument, issued by one of the Parties, that can be used by a covered entity or a voluntary participant to fulfill a compliance obligation and having a value corresponding to the emission of one metric ton of CO2 equivalent greenhouse gas;

Examples of Compliance Instruments in a sentence

• At any time following an election to physically compensate Seller towards its AB 32 Carbon Dioxide Costs, Buyer may elect to financially compensate Seller upon sixty (60) days’ Notice, in which case the provisions relating to financial compensation towards AB 32 Carbon Dioxide Costs in Section 9.3(a)(i) shall apply and Buyer shall no longer be obligated to directly transfer Compliance Instruments pursuant to this Section 9.3.

• Buyer, in its sole discretion, may satisfy its obligation to compensate Seller towards Seller’s AB 32 Carbon Dioxide Costs either financially through the Carbon Dioxide Emissions Payment or physically through the transfer of Compliance Instruments (individually and/or collectively “AB 32 Compensation”).

• Delivery shall consist of only whole RECs. If, at any time after the Delivery Date, Compliance Instruments, which are part of the RECs transacted under a Confirmation Letter, are created and issued to Seller, Seller shall transfer those Compliance Instruments to Buyer within ten (10) Business Days of the date of issuance of such Compliance Instruments.

• The Authority shall hold any amounts received in connection with this Section 2.3(a) in trust and such amounts shall be solely for reimbursement to the Operating Agent for the Compliance Instruments purchased for the Project as a result of a Compliance Instrument Shortfall in accordance with Section 2.3(b) below.

• Notwithstanding anything to the contrary herein, Section 16.2 of the CM&O Agreement shall apply to any Willful Action (as such term is defined in the CM&O Agreement) taken by the Operating Agent in connection with the Compliance Instruments delivered by the Participants.

• If Buyer has elected to physically compensate Seller towards its AB 32 Carbon Dioxide Costs pursuant to Section 9.3(a)(ii)(A) above, then Buyer shall transfer, or cause a designated third party account holder to transfer, the amount of Compliance Instruments described in Section 9.3(a)(ii)(A) and subject to Article VI in accordance with the deadlines specified in the Cap-and-Trade Regulations for timely surrender of Compliance Instruments.

• In lieu of paying for any portion of its GES of the cost of obtaining necessary Compliance Instruments, to the extent permitted by law and administratively feasible, Participants may transfer and NCPA may accept Compliance Instruments, and/or Participants may request placement of Compliance Instruments that are directly allocated to such Participant(s) into NCPA’s LEC Compliance Account as provided in Agreement Schedule 11.00, as may be amended from time to time.

• In the event that the Compliance Instruments are not confirmed into Seller’s Holding Account according to the Cap-and-Trade Regulations due to the fault of any party other than Buyer or its designated third party account holder, Buyer shall be deemed to have compensated Seller towards its AB 32 Carbon Dioxide Costs and Buyer shall not be obligated to further attempt to transfer such Compliance Instruments.

• Buyer may elect, upon sixty (60) days’ Notice to Seller, to physically compensate Seller towards its AB 32 Carbon Dioxide Costs by transferring Compliance Instruments to Seller.

• GHG Prices shall be calculated by Buyer based on available market-based quotes for the least-cost combination of allowed GHG Compliance Instruments taking into consideration the allowed percentage of a given GHG Compliance Instrument from a given vintage year as permitted by CARB at the time of calculation to fulfill Seller’s GHG Compliance Obligations with respect to Buyer’s Carbon Dioxide Emissions.

More Definitions of Compliance Instruments

Compliance Instruments means an instrument, such as an emission allowance (California program regulations) or emission unit (Québec program regulations), offset credit and early reduction credit, issued by one of the Parties that can be used by a covered entity or an emitter to fulfill a compliance obligation and having a value corresponding to one metric ton of CO2 equivalent greenhouse gas;

Compliance Instruments means the technical rules, the WA Electrical Requirements, the WA Distribution Connection Manual and AS/NZS 3000:2007 Electrical Installations.