Excessive Inflation. If the average rate of inflation from January 1, 2011 through December 31, 2013, measured by annual changes in the “Gross Domestic Product Implicit Price Deflator,” exceeds 4%, or if the average annual rate of inflation from January 1, 2011 through December 31, 2014 exceeds 4%, PSNH will be allowed, pursuant to the procedure described below, to increase its distribution revenues effective July 1, 2014 and/or July 1, 2015, respectively. The amount of increase to distribution revenue shall be equal to the amount by which such average inflation rate exceeds 4% multiplied by actual O&M expense in calendar year 2012 and/or 2013, respectively, excluding O&M expenses under PSNH’s REP.
Excessive Inflation. In the event that the aggregate of the Annual Inflation Rates (defined herein below) established for two (2) consecutive calendar years during the term of this Contract exceeds 12% in total, the Owner and the Company agree to renegotiate the Annual Fees and increase the Annual Fees throughout the remaining term of the Contract to compensate the Company for the excessive inflation. For purposes of this provision, the Annual Inflation Rate for each calendar year shall be established by the Engineering News Report – Construction Cost Index (“ENR-CCI”). In the event that the ENR-CCI index is discontinued, the Owner and the Company will negotiate and agree to an alternative index or methodology to address the excessive inflation. For illustrative purposes, if a Contract is executed in 2022, the first equitable adjustment could not be made until both the 2023 inflation rate and the 2024 inflation rate have been established. If the annual inflation rates for 2023 and 2024 are 5.0% and 7.1%, respectively, the Owner and the Company agree to renegotiate the current year’s Annual Fee as well as the remaining Annual Fees for the remainder of the term of the Contract to address the excessive inflation.
Excessive Inflation. If the average rate of inflation from January 1, 2008 through December 31, 2010, measured by annual changes in the “Gross Domestic Product Implicit Price Deflator” (“GDPIPD”), exceeds 4%; or such average annual rate of inflation from January 1, 2008 through December 31, 2011 exceeds 4%, Granite State will be allowed, pursuant to the procedure below, an increase in its distribution revenues in years 2011 and/or 2012, respectively, equal to the amount by which such average inflation rate exceeds 4%. The incremental inflation amount shall be applied to actual O&M expenses in calendar year 2010 and/or 2011, respectively. The REP and VM Plan O&M reconciliations (as contemplated in GSE-8) will be excluded from the inflation adjustment. Attached as Exhibit GSE-5 is an illustration of how an inflation adjustment would be calculated.
Excessive Inflation. If the average rate of inflation for calendar years 2012, 2013 or 2014, measured by annual changes in the “Gross Domestic Product Implicit Price Deflator,” exceeds 4 percent, Unitil will be allowed, pursuant to the procedure described in Section 11.4 below, to increase its distribution revenues effective May 1, 2013, May 1, 2014 and May 1, 2015, respectively. The amount of increase to distribution revenue shall be equal to the amount by which such average inflation rate exceeds 4 percent multiplied by actual O&M expense in calendar year 2012, 2013 and2014, respectively, excluding O&M expenses under Unitil’s REP.
