Basic Elements Sample Clauses
Basic Elements. The 2012 REP Settlement5, if adopted by BPA, would end the uncertainty and risk arising from the seemingly endless litigation over the REP by providing closure to BPA’s past payments of refunds to the COUs and REP benefits to the IOUs while also resolving, for a term of 27 years, challenges over BPA’s implementation of the REP. The Settlement achieves these ends by presenting an alternative to BPA’s prior attempts at resolving the issues pertaining to the Court’s decisions in PGE and Golden NW. This alternative, embodied in the terms of the Settlement, would replace BPA’s decisions in the WP-07 Supplemental ROD and WP-10 ROD, which have been hotly contested by all parties, with the agreed-upon value established by the Settlement and signed by all of the region’s IOUs, three public utility commissions, and 88 percent of BPA’s COU customers (by load). In presenting this alternative approach, the Settlement is not intended to answer all of the knotty legal and factual questions regarding the section 7(b)(2) rate test and BPA’s Lookback construct that have plagued BPA’s rate proceedings. The REP litigation involves all manner of claims, from alleged violations of statutory provisions (such as sections 7(b)(2) and 5(c) of the Northwest Power Act), to breaches of contract (such as the “Invalidity Clause” in the 2000 REP Settlements). In view of the diverse nature of these numerous claims, the settling COUs, IOUs, state commissions, and others have crafted the Settlement such that its focus is on reaching a reasonable resolution of the myriad conflicts in an equitable and timely manner without addressing individual claims, while also retaining the essential elements of the REP to ensure that the Settlement follows the key statutory requirements set forth in the Northwest Power Act. The Settlement spans 104 pages and includes many complicated formulas and terms. However, at its core, the Settlement is comprised of five essential parts: (1) a schedule of REP benefits to be paid to the IOUs as a class over the term of the Settlement (17 years), which will be allocated among the IOUs every two years in accordance with section 5(c) of the Northwest Power Act;
Basic Elements. 3 The proposed 2012 REP Settlement would resolve challenges over BPA’s implementation of the 4 REP in return for a stream of REP benefits to the IOUs for a term of 17 years. IOU-specific 5 Lookback obligations would be extinguished. The COUs’ obligation to pay REP benefits in 6 rates would be limited to the COUs’ share of the stream of REP benefits as set forth in the 8 respective ASC and exchange load. The IOUs would continue to file ASCs with BPA pursuant 9 to the 2008 ASCM. 10 11 In addition to the stream of REP benefits, the IOUs would receive (i) a percentage of any 12 incremental BPA Renewable Energy Credits (RECs) that might accrue to BPA resources used to 13 serve BPA Tier 1 loads and (ii) the payment of certain outstanding interim payments due under 14 the 2008 Residential Exchange Interim Relief and Standstill Agreements between BPA and four 15 of the IOUs. 16 17 The Agreement provides for Refund Amounts to COUs through FY 2019 to allocate the benefits 18 of the Settlement among COUs that paid BPA’s rates during FY 2002 through FY 2006 and 19 those that did not. It also requires parties to the Settlement to work together, directly or through 20 associations, to urge the U.S. Congress to pass legislation that would affirm and direct BPA to 21 implement the settlement. 22
Basic Elements. 1. The OCT-EC association shall be based on the principles of liberty, democracy, respect for human rights and fundamental freedoms and the rule of law. These principles, on which the Union is founded in accordance with Article 6 of the Treaty on European Union, shall be common to the Member States and the OCTs linked to them.
2. There shall be no discrimination based on sex, racial or ethnic origin, religion or belief, disability, age or sexual orientation in the areas of cooperation referred to in this Decision.