Gas Index Price definition

Gas Index Price means the daily index cost of Gas as published by Xxxxx’x Gas Daily (in the Internet publication currently accessed through xxx.xxxxxx.xxx), or its successor, in the table entitled “Daily price survey” under the heading “Midpoint” for the applicable date of delivery for the Gas Index or in the event of an Index Disruption Event, the Alternate Gas Index.

Gas Index Price means the applicable residential, industrial, or commercial price per 1,000 cubic feet for retail consumers in Florida in the previous calendar year, as published in the United States Energy Information Administration Natural Gas Monthly.

Gas Index Price with respect to any Day means the final settlement price (in USD per MMBtu) for the New York Mercantile Exchange’s Xxxxx Hub natural gas futures contract for the Month that is one (1) calendar month prior to the Month in which the Day occurs.”

Examples of Gas Index Price in a sentence

• Buyer shall be entitled to receive a fee for this service equal to $0.01 per MMBtu plus 0.5% of the Gas Index Price, Midpoint (“Fuel Manager Fee”).

• For each day on which the Imbalance Amount is negative (e.g., (A) is less than (B)) by a margin of 1% or more, Seller shall owe Buyer an amount equal to (i) the absolute value of the Imbalance Amount, multiplied by the sum of the Gas Index Price, High and all transportation and distribution charges related to the Imbalance Amount that have been (or are to be) paid by Buyer, plus (ii) any penalties assessed by the LDC or interconnecting pipeline against Buyer that were incurred as a result of the deviation.

• Buyer shall invoice Seller, and Seller shall pay, for the cost of Additional Gas that Seller requests Buyer to schedule in an amount equal to the MMBtus of Additional Gas delivered (exclusive of Buyer’s Gas) multiplied by the Gas Index Price, Midpoint plus all transportation and distribution charges, surcharges and fees that have been (or are to be) paid by Buyer related to the Additional Gas and the Fuel Manager Fee (“Additional Gas Payment”).

• For each day on which the Imbalance Amount is positive (e.g., (B) is less than (A)) by a margin of 1% or more, Buyer shall owe Seller an amount equal to (i) the absolute value of the Imbalance Amount, multiplied by the sum of the Gas Index Price, Low multiplied by 15%, less (ii) any penalties assessed by the LDC or pipeline against Buyer that were incurred as a result of the deviation.

• Buyer shall invoice Seller, and Seller shall pay, for the cost of Additional Gas in an amount equal to the MMBtus of Additional Gas made available (exclusive of Buyer’s Gas) multiplied by the Gas Index Price, Midpoint plus all transportation charges, surcharges, penalties and fees that have been (or are to be) paid by Buyer related to the Additional Gas and the Fuel Manager Fee (“Additional Gas Payment”).

More Definitions of Gas Index Price

Gas Index Price means the applicable residential, industrial, or commercial price per

Gas Index Price means the monthly index price for natural gas, expressed in dollars per MMBtu, published in the Inside FERC Gas Market Report, first of month issue for the applicable month, for South Louisiana, Xxxxx Hub as shown in the “Market Center Spot Gas Prices” table. At no time shall the Lake Xxxxxxx T&F Costs be less than 3.75 cents per gallon. Either Party shall have the right to initiate a renegotiation of the above fee and fee formula to be effective on any or each of the fifth or tenth anniversaries of the Effective Date (the “Price Change Dates”) and on any renewal term thereafter by giving the other Party at least ninety (90) Days and no more than one hundred and fifty (150) Days notice prior to any of the Price Change Dates. Such negotiations shall commence immediately upon the date of receipt of such notice by the other Party and continue for at least sixty (60) Days thereafter (the “Negotiation Period”). During the Negotiation Period, each Party shall submit to the other Party one or more written offers for the new fee or fees. If the Parties are unable to agree to the new fee or fees by the end of the Negotiation Period, either Party shall have the right to have the new fee or fees re-determined in accordance with the Dispute Resolution procedures set forth in Article 20 hereinafter, provided that if the matter is submitted for arbitration, the arbitrator’s choice shall be based on a determination of which of the Parties final offer most closely approximates the then current fair market value for the fractionation and other services provided by or on behalf of Buyer to Seller, based on a five year term for volumes and composition of Raw Product similar to that then being tendered hereunder by Seller, and with the market area for comparison being the Lake Xxxxxxx Area.

Gas Index Price has the meaning ascribed thereto in the Companion Service Contract.

Gas Index Price means the daily price (in U.S.$/MMBtu) published in the Gas Daily, a Platts Publication, for that day under the Column “mid-point”, for the Xxxx, Ontario point, or, in the event that such publication is discontinued, an equivalent industry publication acceptable to the Parties, acting reasonably.

Gas Index Price with respect to any Billing Period means the first of the month gas “Index” delivered price for “Florida Gas Transmission Co. zone 3”, as published in Platts Inside FERC Gas Market Report prior to the Billing Period. See Schedule 2 for an example Gas Index Price calculation.

Gas Index Price for each day means the midpoint of the common range for [***] as reported in the "Daily Gas Survey" for that day in Gas Daily (published by Financial Times Energy) (with respect to weekdays for the flow date, and with respect to weekend days and holidays for the flow date immediately following such weekend day or holiday). If such information is no longer published, the Parties shall mutually agree on an appropriate replacement index. If, at any time, the Parties mutually agree that the specified index no longer provides a reasonable proxy, the Parties shall mutually agree on an appropriate replacement index.

Gas Index Price with respect to any Day means the final settlement price (in USD per MMBtu) for the New York Mercantile Exchange’s Henry Hub natural gas futures contract for the Month that is one (1) calendar month prior to the Month in which the Day occurs.”