Examples of Final Purchase Shape in a sentence
The Authority may (by telephone, during Trading Hours) request a quotation (“Residual Volume Quotation”) to fix prices for the Residual Volume for a Residual Charge Period at any time (and on as many occasions as it reasonably requires) following the agreement of the Final Purchase Shape for the relevant Electricity Product.
The Authority may set a price for volumes of gas in respect of a Price Setting Round before receipt by the Authority of the Final Purchase Shape from the Supplier.
Without prejudice to any other express right of the Authority under this Framework Agreement (including the right to Approve each Provisional Purchase Shape and each Final Purchase Shape): the Supplier shall respond to any queries raised by the Authority regarding the manner in which a Purchase Shape has been determined and shall provide any reasonable supporting evidence requested by the Authority regarding the determination of a Purchase Shape.
The Supplier shall: (i) keep the Final Purchase Shape under review until the end of the penultimate month of each Supply Year; (ii) update it whenever required by the Authority; and (iii) where necessary, revise the Final Purchase Shape (and send a copy to the Authority).
The Authority will enter into Transactions to fix the price for the number of Baseload Blocks, Peakload Blocks and the Residual Volume specified in the Final Purchase Shape.
After receipt by the Authority of a Provisional Purchase Shape by the Authority, but before Approval or determination of the Final Purchase Shape the Authority may, in respect of an Electricity Product, enter into Transactions in respect of those Contract Blocks specified in the most recent Provisional Purchase Shape.
If the Authority does not Approve any of the matters referred to in this Paragraph 3 then, in respect of a: Provisional Purchase Shape, the Authority’s view will prevail; or Final Purchase Shape, the Supplier’s view will prevail, and following notification by the Authority or the Supplier (as the case may be) to the other of such prevailing view, the relevant Purchase Shape shall be referred to in this Schedule 3 as “determined”.
Following Approval or determination of the Purchase Shape for an Electricity Product the Authority may, in respect of and Electricity Product, enter into Transactions in respect of those Contract Blocks specified in the relevant Final Purchase Shape.
The Supplier provides the Authority with the Final Purchase Shape based on the most up to date information held by Xoserve on each relevant Price Setting Round Closing Date.
In order to determine the price of the Contract Block included in the Purchase Shape, the financial amounts referred to in Paragraph 11.5 shall be summed and divided by the Nomination included in the Final Purchase Shape to produce a price in £/MWh. In the event that a Contract Block has not been Nominated in any given Month, the above costs shall be recovered by adjustment to the price of an alternative Contract Block.