Replacement Energy Costs definition

Replacement Energy Costs means the actual costs incurred by Buyer following an Event of Default that are reasonable and necessary to replace Energy Output (which includes RECs, Environmental Attributes and Ancillary Services as defined herein) which Seller, in accordance with this PPA, would have generated at the Project and delivered to Buyer, but failed to so provide pursuant to this PP A. Buyer shall not have to enter into a replacement contract to establish the Replacement Energy Costs. If Buyer does not enter into a replacement contract, then the Replacement Energy Costs will be based on the market price for Energy, Environmental Attributes (including RECs) and Ancillary Services delivered to Buyer's system, as reasonably determined by Buyer. In calculating such amounts, Buyer will comply with the requirements set forth in Section 12.4(A) in establishing the market price. Replacement Energy Costs for an Event of Default also include (i) the reasonable amounts paid or incurred by Buyer for transmission or distribution of replacement Energy Output and any associated transmission or distribution costs, (ii) the reasonable amounts paid or incurred by Buyer for the purchase of RECs associated with the replacement Energy Output, and (iii) Buyer's expenses, including reasonable attorneys' fees, suffered as a result of Seller's failure to perform under this PPA.

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Replacement Energy Costs means the aggregate positive amount equal to (i) the costs incurred by Company, after the Commencement Date, for the Renewable Energy that is necessary to replace that which Seller, in accordance with this PPA, was required to have produced at the Facility and deliver to Company, but failed to so provide, less (ii) the sum of any payments from Company to Seller, under this PPA, that were eliminated as a result of such failure. Replacement Energy Costs include the amounts paid or incurred by Company for replacement renewable energy, or replacement energy plus RECs, transmission of energy, and directly associated transaction costs (including reasonable attorneys’ fees suffered as a result of Seller’s failure to perform), all determined in a commercially reasonable manner and in accord with market value in MISO.

Replacement Energy Costs means those damages suffered by EPE as a direct result of Seller’s failure to perform its obligations under this Agreement, including (i) all incremental costs suffered by EPE to replace the Solar Energy or the RECs that Seller fails to deliver to EPE under this Agreement with alternative Solar Energy that meets the requirements of the NMPRC, (ii) any replacement solar capacity necessary to make up for any shortfall in the capacity to be provided under this Agreement (to comply with the NMPRC’s Renewable Energy Standard) which shortfall was caused by Seller or the Facility, (iii) costs and penalties imposed by the NMPRC, or by any other Governmental Authority, paid or required to be paid by EPE as a result of Seller’s failure to perform under this Agreement and absence of fault or responsibility of EPE, and (iv) EPE’s expenses including reasonable attorneys’ fees suffered as a result of Seller’s failure to perform under this Agreement.

Examples of Replacement Energy Costs in a sentence

Except as otherwise provided in this Section, Seller’s aggregate financial liability to Company for Replacement Energy Costs and other damages shall not exceed the then-current amount of the Seller’s Security Fund pursuant to Section 11.1(A) (the “Damage Cap”).
Upon the termination of this PPA under this Section, the non-defaulting Party shall be entitled to receive from the defaulting Party, subject to the Damage Cap set forth in Section 12.6, all of the damages incurred by the non-defaulting Party in connection with such termination including, if Seller is the defaulting Party, the present value of all future Replacement Energy Costs for the then remaining Term, subject to Section 12.10.
If Seller is the defaulting Party, the Parties agree that the damages recoverable by Company hereunder on account of an Event of Default of Seller shall include Replacement Energy Costs.
If Seller is the defaulting Party, the damages recoverable by EPE on account of a Construction Event of Default or an Operational Event of Default shall include Replacement Energy Costs, provided that damages associated with a Construction Event of Default shall not exceed the amount of the Security Fund provided by Seller.
In the event that Replacement Energy Costs for any hour are less than the Guaranteed Price for such hour, Replacement Energy Costs shall be deemed to be equal to the Guaranteed Price for such hour for purposes of this Agreement Liability limits of section 7.4 (c) apply.
This ARTICLE IV, Section E sets forth the methodology for calculating Replacement Energy Costs and Replacement Capacity Costs to be paid to PSE&G in the event VENTURE fails to fulfill certain performance obligations and if this AGREEMENT has not been terminated pursuant to ARTICLE XVI.

More Definitions of Replacement Energy Costs

Replacement Energy Costs means the costs incurred by NSP for the Renewable Energy which is necessary to replace that which Seller, in accordance with this REPA, was required to have produced at the Facility and deliver to NSP, but failed to so provide, less the sum of any payments from NSP to Seller, under this REPA, which were eliminated as a result of such failure, provided that the net amount shall never be less than zero in any hour. Replacement Energy Costs include, but are not limited to, the amounts paid or incurred by NSP for replacement energy from an Eligible Renewable Energy Resource, or replacement energy plus Environmental and Renewable Energy Credits, transmission of energy and directly associated transaction costs. Additional costs may include but are not limited to replacement capacity costs and any penalties incurred as a result of the Seller's non-performance.

Replacement Energy Costs means the costs incurred by Purchaser for the Renewable Energy which are necessary to replace that which Seller, in accordance with this REPA, was required to have delivered to Purchaser, but failed to so provide, less the sum of any payments from Purchaser to Seller, under this REPA, which were elimi- nated as a result of such failure. Replacement Energy Costs include the amounts paid or incurred by Purchaser for replacement Renewable Energy, or replacement En- ergy plus replacement Beneficial Environmental Interests, transmission of Energy, and directly associated transac- tion costs. Additional costs may include any penalties incurred by Purchaser as a result of the Seller's non- performance.

Replacement Energy Costs means those costs which vary with the amount of Replacement Energy provided to a Participant by NIMPA in accordance with Section 3.4 of this Agreement.

Replacement Energy Costs means the costs that would be incurred by Company, after the Commercial Operation Date, for the Renewable Energy that is necessary to replace that which Seller, in accordance with this PPA, was required to have produced at the Facility and deliver to Company, but failed to so provide during an applicable period, less the sum of any payments from Company to Seller, under this PPA, that were eliminated as a result of such failure. Unless the Parties mutually agree to a different basis for reimbursement, Replacement Energy Costs shall be determined in accordance with the following formula: