GHG Credits definition
Examples of GHG Credits in a sentence
At SCE’s request, Seller shall furnish information pertaining to the aggregate quantity of GHG Credits or Non-AB 32 GHG Credits or revenues allocated by CARB (and/or any other Governmental Authority) to Seller, any of Seller’s Affiliates, and/or the Generating Unit(s) for Greenhouse Gas attributable to the Project during the Delivery Period (or any portion thereof).
Allocated, issued or has the right to obtain GHG Credits for a portion of, or its entire fleet of generating units (all or some of the generating units owned, managed, or controlled by Seller that are subject to the GHG Regulations) (“Seller’s Fleet”), then Seller shall obtain and utilize a proportional amount of such GHG Credits to mitigate SCE’s AB 32 Reimbursement Obligation at no cost to SCE.
An IOU may record in the CHP Program Reports as progress towards obtaining its MW Targets and GHG Emissions Reduction Targets the MWs, GHG Credits or GHG Debits associated with the PPA at the time of execution.
In the event that Seller is allocated, issued or has the right to obtain Non-AB 32 GHG Credits or revenues (as described in Section 15.02(e) above) for a portion of, or its entire fleet of generating units, then Seller shall utilize a proportional amount of such Non-AB 32 GHG Credits or revenues to mitigate the GHG Charges otherwise reimbursable by SCE at no cost to SCE.
If the CPUC subsequently disapproves such PPA, or if an executed PPA terminates before beginning deliveries, the IOU shall remove any MW, GHG Credits or GHG Debits from such disapproved or terminated PPA from its CHP Program Reports.
The proportional amount of Non-AB 32 GHG Credits or revenues, as applicable, to be utilized by Seller to mitigate the GHG Charges otherwise reimbursable by SCE shall be calculated based on the method, formula or other similar calculation by which the Governmental Authority used to determine the amount of such credits or revenues attributable to each Generating Unit compared to the sum of all Non-AB 32 GHG Credits or revenues for all generating units within Seller’s fleet.
Seller shall furnish all documentation reasonably necessary to support the methodology and calculations of AB 32 Reimbursement Obligations and GHG Charge balances as they relate to Section 15.02 and Sections 15.03(b) and (c), which shall include, without limitation, any documentation reasonably requested by SCE to verify Seller’s calculations pertaining to GHG Charges, GHG Credits or revenues and Non-AB 32 GHG Credits.
In the event that Seller is allocated, issued or has the right to obtain Non-AB 32 GHG Credits or revenues (as described in Section 15.02(e) above) for a period of time which may not be limited to Put Delivery Periods, then Seller shall utilize a proportional amount of such Non-AB 32 GHG Credits or revenues to mitigate the GHG Charges otherwise reimbursable by SCE at no cost to SCE.
For purposes of this Section 15.03(d), all references to “Seller” shall be deemed to include Seller’s parent company, holding company or other entity to which GHG Credits and/or revenue may be or have been allocated to or given rights to obtain for the Project.
Such assignment shall be effective from time to time as and when such GHG Credits have been created and the associated Energy is delivered to NLH.