FERC Oil Pipeline Index definition

FERC Oil Pipeline Index means the FERC index system set forth in 18 C.F.R. § 342.318, as such regulations may be amended from time to time.
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FERC Oil Pipeline Index has the meaning set forth in Section 3(a)(iii)(B).
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FERC Oil Pipeline Index means the FERC index system set forth in 18 C.F.R. § 342.318, as such regulations may be amended from time to time, or if the FERC Oil Pipeline Index is no longer published, any such successor index as agreed by the Parties or as determined by arbitration in accordance with Section 3.4.
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Examples of FERC Oil Pipeline Index in a sentence

  • The Low Ethane Penalty shall be subject to annual adjustment by multiplying the Low Ethane Penalty then in effect by the FERC Oil Pipeline Index “Multiplier to Use”, as published by the Federal Energy Regulatory Commission pursuant to 18 CFR 342.3 on or about the previous July 1 to the date of such escalation, or its successor index.

  • If the FERC Oil Pipeline Index is no longer published, the Parties shall negotiate in good faith to agree on a new index that gives comparable protection against inflation and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the fees.

  • If the FERC Oil Pipeline Index is no longer published, the Refining Entity and the Logistics Entity shall negotiate in good faith to agree an a new index that gives comparable protection against inflation and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Storage Fee.

  • The amount of the Storage Fee shall be adjusted on July 1 of each Contract Year commencing on July 1, 2013, by an amount equal to the increase or decrease, if any, in the FERC Oil Pipeline Index, provided, however, that the Storage Fee shall not be decreased below the initial Storage Fee provided in this Section 2(c).

  • If the FERC Oil Pipeline Index is no longer published, the Logistics Entity and the Refining Entity shall negotiate in good faith to agree on a new index that gives comparable protection against inflation and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Throughput Fees.

  • The amount of the Tankage Revenue Commitment shall be adjusted upward on the first day of each Contract Year commencing on July 1, 2008, by an amount equal to the percentage change, if any, between the two (2) immediately preceding calendar years, in the FERC Oil Pipeline Index.

  • If the percentage change in the FERC Oil Pipeline Index is negative in a given year then there will be no change in the Tankage Revenue Commitment.

  • The amount of the Tankage Revenue Commitment shall be adjusted upward on July 1 of each Contract Year commencing on July 1, 2008, by an amount equal to the percentage change, if any, between the two (2) immediately preceding calendar years, in the FERC Oil Pipeline Index.

  • If the PPI or the FERC Oil Pipeline Index is no longer published, the HollyFrontier Entities and the Partnership Entities shall negotiate in good faith to agree on a new index that gives comparable protection against inflation or deflation and the same method of adjustment for increases in the new index shall be used to calculate increases in the Minimum Pipeline Revenue Commitment, tariff rates, the Volume Incentive Tariff, Tankage Revenue Commitment, or Roswell Terminal Payment, as applicable.

  • The tariff rates specified in Section 2(b)(i) and the Volume Incentive Tariff shall be adjusted on the first day of each Contract Year (commencing on July 1, 2008 in the case of tariff rates and commencing July 1, 2010 in the case of the Volume Incentive Tariff), by an amount equal to the percentage change, if any, between the two (2) immediately preceding calendar years, in the FERC Oil Pipeline Index.


More Definitions of FERC Oil Pipeline Index

FERC Oil Pipeline Index the meaning set forth in Section 2.1.
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Related to FERC Oil Pipeline Index

  • Pipeline means any pipe, pipes, or pipelines used for the intrastate transportation or transmission of any solid, liquid, or gaseous substance, except water.

  • Natural Gas Liquids means those hydrocarbon components that can be recovered from natural gas as a liquid including, but not limited to, ethane, propane, butanes, pentanes plus, and condensates;

  • Pipeline System means each system of Pipeline Assets, Real Property and Easements relating thereto making up an integrated gathering system and gathering system, or other pipeline system.

  • Liquefied petroleum gas means a mixture of light hydrocarbons (predominantly propane, butane) that is gaseous under conditions of ambient temperature and pressure and that is maintained in a liquid state by an increase of pressure or lowering of temperature;

  • Ultra Low Sulfur Diesel Fuel means diesel fuel that has a sulfur content of no more than fifteen parts per million.

  • Pipelines has the meaning set forth in the Recitals.

  • Liquefied natural gas or “LNG” means natural gas that has been liquefied.

  • Compressed natural gas means a mixture of hydrocarbon gases and vapors that consists primarily of methane in gaseous form that has been compressed for use as a fuel to propel a motor vehicle.

  • Natural gas utility means an investor-owned business engaged in the sale and distribution of natural gas within this state whose rates are regulated by the commission.

  • Electric utility steam generating unit means any steam electric generating unit that is constructed for the purpose of supplying more than one-third of its potential electric output capacity and more than 25 MW electrical output to any utility power distribution system for sale. Any steam supplied to a steam distribution system for the purpose of providing steam to a steam-electric generator that would produce electrical energy for sale is also considered in determining the electrical energy output capacity of the affected facility.

  • Day-ahead System Energy Price means the System Energy Price resulting from the Day- ahead Energy Market.

  • Crude Petroleum means the direct product of oil wells or a mixture of the indirect products transportable like the direct products and containing not more than two percent (2%) of sediment, water, and other impurities.

  • Gathering System means that portion of Gatherer’s pipeline system, including all appurtenances thereto, related to the provision of gathering and transportation services provided by Gatherer pursuant to this tariff.

  • Geothermal energy means energy contained in heat that continuously flows outward from the earth that is used as the sole source of energy to produce electricity.

  • Useful thermal energy means, with regard to a cogeneration unit, thermal energy that is:

  • Transport Gas means the gas purchased by a Customer from a supplier other than KUB that Customer has arranged to have Delivered to KUB for delivery to the Customer by KUB.

  • Crude Oil means any liquid hydrocarbon mixture occurring naturally in the earth whether or not treated to render it suitable for transportation and includes:

  • Natural Gas or “Gas” means wet gas, dry gas, all other gaseous hydrocarbons, and all substances contained therein, including sulphur and helium, which are produced from oil or gas xxxxx, excluding those condensed or extracted liquid hydrocarbons that are liquid at normal temperature and pressure conditions, and including the residue Gas remaining after the condensation or extraction of liquid hydrocarbons from Gas such that any Gas sold under this Agreement shall be of the quality as indicated in Clause 7.

  • Natural gas company ’ means a person engaged in the transportation of natural gas in interstate commerce, or the sale in inter- state commerce of such gas for resale.

  • CO2 means carbon dioxide.

  • Market Participant Energy Injection means transactions in the Day-ahead Energy Market and Real-time Energy Market, including but not limited to Day-ahead generation schedules, real- time generation output, Increment Offers, internal bilateral transactions and import transactions, as further described in the PJM Manuals.

  • Petroleum refinery means each facility engaged in producing gasoline, kerosene, distillate fuel oils, residual fuel oils, lubricants, or other products through distillation of petroleum or through redistillation, cracking, extracting, or reforming of unfinished petroleum derivatives.

  • SOFR IndexStart means the SOFR Index value on the date that is the number of U.S. Government Securities Business Days specified in the relevant Final Terms preceding the first date of the relevant Interest Accrual Period (a "SOFR Index Determination Date").

  • Substitute natural gas or "SNG" means a gas manufactured

  • Supply Pipe means any part of a service pipe which a water undertaker could not be, or have been required to lay under section 46 of the Water Industry Act 1991; and

  • Public water supply system means a system for the provision to the public of piped water for human consumption, if the system has at least fifteen service connections or regularly serves at least twenty-five individuals. The term includes any source of water and any collection, treatment, storage, and distribution facilities under control of the operator of the system and used primarily in connection with the system, and any collection or pretreatment storage facilities not under such control which are used primarily in connection with the system.