Replacement Power Costs definition
Replacement Power Costs means for each day for which the Utility’s Cost to Cover is calculated, stated as an amount per MWh, the Firm Electric Market Pricing; plus, to the extent Utility reasonably incurs transmission charges to deliver replacement energy to the Point of Delivery, and, to the extent Seller is required to convey Environmental Attributes to Utility under this Agreement during the day for which the Utility’s Cost to Cover is calculated, and Utility reasonably incurs additional costs for replacement Environmental Attributes, such additional sums so incurred.
Replacement Power Costs means the costs incurred by Company after COD that are necessary to replace the Products and services that Seller was required to provide under this PPA, but failed to so provide, less the sum of any payments from Company to Seller under this PPA that were eliminated as a result of the failure; provided, however, that the net amount shall never be less than zero, and if the calculation results in a number less than zero, the net amount shall be deemed to be zero. Replacement Power Costs shall be determined as follows. Replacement Power Costs = (A + B + C + D) - E, where “A” is the market value of Zonal Resource Capacity Credits from the Facility that would in the ordinary course, have qualified for capacity credit with MISO until the Scheduled Termination Date;
Replacement Power Costs means the costs incurred by Company, after the Commercial Operation Milestone, that are necessary to replace the products and services that Seller was required to provide under this PPA, but failed to so provide, less the sum of any payments from Company to Seller, under this PPA, that were eliminated as a result of such failure; provided, however, that the net amount shall never be less than zero in any hour and if the calculation for any hour results in a number less than zero, the number for such hour shall be deemed to be zero. Replacement Power Costs shall be determined on an hourly basis and shall equal the sum of all hours where the following calculation achieves a positive number. Replacement Power Costs = (A + B + C) – D, where “A” is the the sum of (i) product of (x) the number of MW of capacity derived by subtracting the number of MW of capacity that qualifies for capacity credit actually made available to Company from the amount of Solar Capability associated with the entire Facility, and (y) the applicable market price for equivalent capacity made available to Company’s system and (ii) the product of (a) the number of MW of Gas Capability derived from any source other than Solar Capability and (b) the applicable market price for capacity made available to Company’s system Gas Capability“B” is the sum of (i) the product of the number of MWh of Solar energy purchased by Company associated with the replacement Solar Capability to replace any of the Committed Solar Energy that was not delivered under this PPA and the applicable market price for equivalent solar energy delivered to Company’s system at a point nearest to the Point of Delivery for the hour, (ii) the product of the MWh of energy derived in clause (i) and the actual cost of registered RECs for that number of MWh; and (iii) energy associated with the replacement capacity. “C” an amount equal to the actual cost of transmission, ancillary services, fuel and fuel transportation and related penalties that could not be avoided or mitigated and transaction charges to deliver reasonably available energy to Company in amounts equal to the number of MWh for which Replacement Power Costs are owed;
Examples of Replacement Power Costs in a sentence
If Seller is the defaulting Party, the Parties agree that Actual Damages recoverable by Company hereunder on account of an Event of Default of Seller shall consist of any direct damages available under this PPA including any Replacement Power Costs.
In addition to any other remedy available to it, MP may, before or after termination of this PPA, draw against the Security to satisfy any undisputed obligations of Seller to MP arising under this Agreement (including without limitation the payment of Replacement Power Costs, if any, or any indemnification obligations) which Seller has not otherwise paid or performed when due, after any required notice and opportunity to cure.
If no remedy or measure of damages is expressly herein provided, the obligor’s liability shall be limited to all direct damages proximately caused by such default (“Actual Damages”) incurred by the non-defaulting Party, provided that if Seller is the defaulting Party, Actual Damages recoverable by Company hereunder may include Replacement Power Costs.
If Seller is the defaulting Party, the Parties agree that Actual Damages recoverable by Buyer hereunder on account of an Event of Default of Seller shall include Replacement Power Costs.
At no time shall the amount of Default Security to which PacifiCorp is entitled pursuant to this paragraph be less than PacifiCorp’s Net Replacement Power Costs, as calculated pursuant to Section 11.4.
More Definitions of Replacement Power Costs
Replacement Power Costs for any period mean the costs incurred by Company to replace the products and services which Seller was required to provide under this PPA (but failed to so provide) during such period, less the sum of any payments from Company to Seller under this PPA that were eliminated with respect to such period as a result of such failure. Replacement Power Costs shall be determined on an hourly basis and shall equal the sum of the following for each hour where the following calculation achieves a positive number: Hourly Replacement Power Costs = (A + B + C + D) – E, where “A” = the product of (x) the number of MW of lost capacity, derived by subtracting the number of MW of capacity of the Facility that qualifies for capacity credit actually made available to Company from the amount of qualifying capacity associated with the entire Facility, and (y) the applicable market price for capacity made available to Company’s system, for such hour; “B” = the price paid by Company for the MWh of energy purchased by Company to replace the Contract Energy that was not delivered under this PPA during such hour;
Replacement Power Costs means, at Buyer’s election, (i) the fair market value of Renewable Energy (including capacity) that Seller is required to produce at the Facility and deliver to Buyer but fails to so produce and deliver due to an Event of Default; or (ii) the actual costs incurred by Buyer to replace the Renewable Energy (including capacity) that Seller is required to produce at the Facility and deliver to Buyer, but fails to so produce and deliver due to an Event of Default; in either case, less the sum of any payments from Buyer to Seller, under this PPA, that would be eliminated as a result of such failure; provided, however, that the net amount shall never be less than zero in the aggregate (it being agreed that any hour that yields a negative result will be included in the computation, but the aggregate result for all hours shall never be less than zero) and, if the calculation, in the aggregate, results in a number less than zero, the aggregate number shall be deemed to be zero. In the event of termination of this PPA by Buyer due to an uncured Event of Default of Seller pursuant to the terms and conditions of this PPA, the Replacement Power Costs will be equal to the net present value (using a discount rate equal to six percent (6%)) of such costs described above applicable to the remaining Term of this PPA (subject to the applicable Damage Cap).
Replacement Power Costs shall have the meaning given to it in Section 5.2(b) of this Agreement.
Replacement Power Costs the following parenthetical "(the "INCREMENTAL REPLACEMENT POWER COSTS")"; and
Replacement Power Costs means, in the event Seller fails to satisfy its obligation set forth in Section IV.03; the costs incurred by MP to replace the products and services which Seller was required to provide under this PPA (but failed to so provide) during such period, less the sum of any payments from MP to Seller under this PPA that were eliminated with respect to such period as a result of such failure. Replacement Power Costs shall be determined on a monthly basis and shall equal the sum of the following for the month where the following calculation achieves a positive number: Monthly Replacement Power Costs = (A + B + C + D) – E, where:
Replacement Power Costs means for each day for which the Utility’s Cost to Cover is calculated, stated as an amount per MWh, the Firm Electric Market Pricing.
Replacement Power Costs means those damages suffered by Utilities as a result of Owner’s failure to perform its obligations under their PPA, including incremental costs suffered by Utilities to replace the committed solar energy and/or Environmental Attributes that Owner fails to deliver under this Agreement with alternative solar energy that satisfies the requirements of Utilities. Replacement Power Costs may include the amounts paid or incurred by Utilities for replacement capacity, replacement energy, transmission and ancillary services associated with delivery of replacement capacity and energy and directly associated transaction costs, including but not limited to reasonable attorneys’ fees suffered as a result of Owner’s failure to perform under this Agreement