Standard REC definition

Standard REC means a REC that includes all Environmental Attributes arising as a result of the generation of electricity associated with the REC, whether or not such Environmental Attributes have been Verified or Certified and whether or not creditable under any existing Applicable Program.
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Standard REC and other Product Order defined terms, such as “Basic REC” and “Specified REC”, are defined in Schedule P. “Taxes” mean all national, state, regional, provincial, local, foreign and other net income, gross income, gross receipts, sales, use, ad valorem, transfer, franchise, profits, license, lease, service, service use, withholding, payroll, employment, excise, severance, stamp, occupation, premium, property, windfall profits, fuel, gas import, customs, duties or other taxes, fees, assessments or charges of any kind whatsoever imposed by any Governmental Authority, together with any interest and any penalties, additions to tax or additional amounts with respect thereto.
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Standard REC and other Product Order defined terms, such as “Basic REC” and “Specified REC”, areis defined in Schedule P.Section 4.1(g).
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Examples of Standard REC in a sentence

  • The working group included all such future allowances or benefits associated with generation with a Standard REC, viewing the sale of the Standard REC as a derivative of the energy, with the Standard REC buyer being the fixed price payor.

  • If the allocation of allowances is made on an on-going future basis, as electricity is generated, and the amount of allowances is keyed to actual energy production, the allowances are part of the Standard REC.

  • A “Standard REC,” which is “all” Environmental Attributes, includes within it any future allowances (or credits) that are awarded based on the measured quantity of generation with which the Standard REC was associated.

  • Although the Standard REC seller is not paying a floating price, it is receiving a steady and fixed, defined cash flow that it can use to ensure the economics of its project, and foregoing the floating price (which the buyer is receiving), which is the fluctuation in any future value inherent in what was sold for that fixed price.

  • For the avoidance of doubt, any Standard REC sold hereunder must meet the definition of “renewable energy credit” under the IPA Act.

  • The REC credit is based on a Michigan Renewable Portfolio Standard REC value published quarterly in the Midwest Market Notes by Clear Energy Brokerage and Consulting, LLC, or successor publication, multiplied by the RECs generated.

  • For the avoidance of doubt, any Standard REC sold hereunder must meet the definition of “renewable energy credit” under the Illinois Power Agency Act.

  • The contractual language authorizing this swap is as follows:Should payment be due to Seller, Seller may request for a portion or all of the payments to be withheld, and if so requested, Buyer shall withhold such payments, to maintain such Performance Assurance Amount.For this reason, no amendment to the existing Standard REC Contracts is necessary.

  • The Gold Standard REC label includes stringent requirements to ensure renewable energy projects meet highest safeguards, are inclusive of stakeholders, contribute to sustainable development priorities, and generate new renewable energy that could not have otherwise been realized.

  • Particularly, the County’s certified LCP contains Land Use Plan (LUP) Policy 2-15 and Gaviota Coast Plan Development Standard REC- 3, which reference Coastal Act Sections 30610.3 and 30610.8, respectively.

Related to Standard REC

  • Standard Rate means, for any day, a rate per annum equal to the Bank's announced Prime Rate minus 0% per annum, and each change in the Standard Rate shall be effective on the date any change in the Prime Rate is publicly announced as being effective.

  • Standard Agreement Coversheet refers to the form used by the Judicial Council to enter into agreements with other parties. Several originally signed, fully executed versions of the Standard Agreement, together with the integrated Contract Documents, shall each represent the Agreement as an individual contract counterpart.

  • COVID-19 test means a viral test for SARS-CoV-2 that is:

  • Standard Amendment Coversheet refers to the form used by the Judicial Council to amend agreements with other parties. Several originally signed, fully executed versions of a Standard Amendment, together with the integrated Contract Documents, shall each represent an Amendment as an individual contract counterpart.