Basic Understandings. 1.1 The Maine Legislature enacted An Act to Restructure the State’s Electric Industry Public Law 1997, Chapter 316 codified as 35-A M.R.S.A. §§ 3201-3217 (the “Restructuring Act”). Accordingly, the T&D agrees to provide services to Provider in accordance with the Restructuring Act, all applicable Maine Public Utilities Commission (“MPUC”) Rules and Regulations, the Maine Electronic Business Transactions Standards approved by the MPUC (“EBT Standards”), all applicable FERC jurisdictional tariffs, rate schedules and agreements and the T&D's Terms and Conditions, incorporated herein by reference (all of the foregoing being further identified in Exhibit C and hereinafter collectively referred to as the “Precepts”), and the terms of this Agreement.
Basic Understandings. 1.1 The Maine Legislature enacted An Act to Restructure the State’s Electric Industry Public Law 1997, Chapter 316 codified as 35-A M.R.S.A , §§ 3201-3217 (the “Restructuring Act”). Accordingly, the T&D agrees to provide services to Provider in accordance with the Restructuring Act, all applicable Maine Public Utilities Commission (“MPUC”) Rules and Regulations, the Maine Electronic Business Transactions Standards approved by the Commission (“EBT Standards”) and the Terms and Conditions, incorporated herein by reference (all of the foregoing being further identified in Exhibit C and hereinafter collectively referred to as the “Precepts”), and the terms of this Agreement.
Basic Understandings. Seller and Buyer have agreed to execute this Master Power Agreement in order to establish the basic terms of Seller’s provision and sale of, and Buyer’s acceptance and purchase of, Default Service. This Master Power Agreement, together with the Appendices and written supplements (including any Confirmations) hereto, and any designated collateral, credit support or margin agreement or similar arrangement between the Parties regarding the Transactions (as defined in Article 2), shall be referred to as the “Agreement” and shall constitute the entire agreement between the Parties relating to the subject matter hereof and supersedes any other agreements, written or oral, between the Parties concerning such subject matter but specifically excluding written agreements executed by the Parties prior to the Effective Date.
Basic Understandings. Seller and Buyer have agreed to execute this Agreement in order to establish the terms of Seller’s provision and sale of, and Buyer’s acceptance and purchase of NEPOOL-GIS Certificates to meet a portion of the Massachusetts Electric Company’s and Nantucket Electric Company’s requirements to comply with the Renewable Energy Portfolio Standards and Alternative Energy Portfolio Standard, as defined herein. This Agreement sets forth the terms under which Seller shall sell and deliver and the Buyer shall purchase and receive a quantity of NEPOOL-GIS Certificates. It is the intent of Buyer and Seller that the transactions hereunder shall meet the Commodity Futures Trading Commission's criteria for the forward contract exclusion, including that the Parties intend to physically settle the transaction, and is therefore not subject to swap regulation.
Basic Understandings. Seller, in response to a Request for Proposals dated May 1, 2018 issued by the Buyer, has been selected to supply a quantity of NEPOOL GIS Certificates to meet a portion of the Buyer’s requirements to comply with the New Hampshire Electric Renewable Portfolio Standard Law, as defined herein. This Agreement sets forth the terms under which Seller will supply a quantity of NEPOOL GIS Certificates to the Buyer.
Basic Understandings. Seller and Buyer have agreed to execute this Master Agreement in order to establish the terms of Seller’s provision and sale of, and Buyer’s acceptance and purchase of NEPOOL-GIS Certificates to meet a portion of the Buyer’s requirements to comply with the applicable RPS or APS Regulations, as defined herein. This Agreement sets forth the terms under which Seller shall sell and deliver and the Buyer shall purchase and receive NEPOOL-GIS Certificates.
Basic Understandings. Vermont Yankee was organized in 1966 to provide for the supply of power to its sponsoring utility companies, including the Purchaser (collectively, the "Purchasers"). It constructed a nuclear electric generating unit, having a net capability of approximately 510 megawatts electric (the "Unit") at a site in Vernon, Vermont. Vermont Yankee was issued a full-term, Facility Operating License for the Unit by the Atomic Energy Commission (now the Nuclear Regulatory Commission, which, together with any successor agencies, is hereafter called the "NRC"), which license is now stated to expire on March 21, 2012 (the "End of License Term"). The Unit has been in commercial operation since December 1, 1972 and continues to operate. The names of the Purchasers of Vermont Yankee and their respective interests ("entitlement percentages") in Vermont Yankee and the net capacity and output of the Unit are as follows: PURCHASER ENTITLEMENT PERCENTAGE Central Vermont Public Service Corporation 35.0% Green Mountain Power Corporation 20.0% New England Power Company 20.0% The Connecticut Light and Power Company 9.5% Central Maine Power Company 4.0% Public Service Company of New Hampshire 4.0% Western Massachusetts Electric Company 2.5% Montaup Electric Company 2.5% Cambridge Electric Light Company 2.5% The Unit was conceived to supply economic power on a cost of service formula basis to the Purchasers. Pursuant to the Power Contract, Vermont Yankee has agreed to supply to the Purchaser and, pursuant to separate power contracts substantially identical to the Power Contract except for the names of the parties (collectively, the "Initial Power Contracts"), to the other Purchasers all of the capacity and the electric energy available from the Unit for a thirty year term extending through November 30, 2002. Pursuant to the Additional Power Contract, Vermont Yankee has agreed to supply to the Purchaser, and pursuant to separate additional power contracts substantially identical to the Additional Power Contract except for the names of the parties (collectively, the "Additional Power Contracts"), to the other Purchasers all the capacity and electric energy available from the Unit during an operative term stated to commence on December 1, 2002 (when the Initial Power Contracts terminate) and extending until a date which is 30 days after the later of the date on which the last of the financial obligations of Vermont Yankee has been extinguished or the date on which Vermont Yankee is finall...
Basic Understandings. Maine Yankee was organized in 1966 to provide a supply of power to its sponsoring utility companies, including the Purchaser (collectively the "Purchasers"). It constructed a nuclear electric generating unit, having a net capability of approximately 830 megawatts electric (the "Unit") at a site on tidewater in the Town of Wiscasset, Maine. On June 27, 1973, Maine Yankee was issued a full-term, Facility Operating License for the Unit by the Atomic Energy Commission (predecessor to the Nuclear Regulatory Commission which, together with any successor agencies, is hereafter called the "NRC "), which license is now stated to expire on October 21, 2008. The Unit has been in commercial operation since January 1, 1973. The Unit was conceived to supply economic power on a cost of service formula basis to the Purchasers. Maine Yankee and the Purchaser are parties to a Power Contract dated as Contract and other identical contracts (collectively, the "Power Contracts") between Maine Yankee and the other Purchasers, Maine Yankee contracted to supply to the Purchasers all of the capacity and electric energy available from the Unit for a term of thirty (30) years following January 1, 1973. Maine Yankee and the Purchaser are also parties to an Additional Power Contract, dated as of February 1, 1984 ("Additional Power Contract"). The Additional Power Contract and other similar contracts (collectively, the "Additional Power Contracts") between Maine Yankee and the other Purchasers provide for an operative term stated to commence on January 2, 2003 (when the Power Contracts terminate) and extending until a date which is the later to occur of (i) 30 days after the date on which the last of the financial obligations of Maine Yankee which constitute elements of the purchase price thereunder has been extinguished by Maine Yankee or (ii) 30 days after the date on which Maine Yankee is finally relieved of any obligations under the last of the licenses (operating and/or possessory) which it holds from, or which may hereafter be issued to it by, the NRC with respect to the Unit under applicable provisions of the Atomic Energy Act of 1954, as amended from time to time (the "Act"). Pursuant to the Power Contract and the Additional Power Contract, the Purchaser is entitled and obligated to take its entitlement percentage of the capacity and net electrical output of the Unit during the service life of the Unit and is obligated to pay therefor monthly its entitlement percentage of Maine ...
Basic Understandings. Under the Massachusetts Electric Industry Restructuring Act of 1997, the Company's Terms and Conditions for Competitive Suppliers approved by the Department of Public Utilities ("MDPU") (the MDPU is the successor agency to the Department of Telecommunications and Energy) as in effect and revised from time to time (referred to herein as the "Terms and Conditions"), and applicable regulations of the MDPU, Company has the authority and obligation to perform services for Competitive Suppliers of electricity. The Terms and Conditions, in Section 3C.5, require the Competitive Supplier to enter into a service contract with the Company prior to the initiation of Generation Service, as defined therein, for the provision of these services. Accordingly, Company agrees to provide services to Competitive Supplier in accordance with the Terms and Conditions, incorporated herein by reference, and the terms of this Agreement. This form of Agreement has been developed for use between Company and Competitive Suppliers, and may not be waived, altered, amended, or modified, except as provided herein. Exhibits A, B and C, attached hereto and incorporated herein by reference, include additional terms which are a part of this Agreement.
Basic Understandings. Seller, in response to a Request for Proposals issued on August 28, 2018 by the Buyer, has been selected to be the supplier of firm, load-following power to meet the Buyer’s Service Requirements as defined in the Service Requirements Matrix found in Appendix A. This Agreement sets forth the terms under which Seller will supply, and Buyer will purchase, Default Service during the Delivery Term.
