Common use of Fixed On-Going Charge Payment Clause in Contracts

Fixed On-Going Charge Payment. The Transmission Owner will invoice and Developer shall pay an annual payment to the Transmission Owner equal to the product of the Gross Plant Investment associated with the Transmission Owner’s Attachment Facilities and the Annual Transmission Ongoing Charge Factor, for the term of this Interconnection Agreement. All payments due to be made by the Developer shall be made within thirty (30) days after receiving an invoice from the Transmission Owner. The Project’s Gross Transmission Owner’s Attachment Facilities Plant Investment cost shall be established in writing by the TO no later than 90 days following commercial operation. The Annual On-Going Charge Factor shall be calculated annually each July based on the Company’s most recent FERC Form 1 data and will equal the sum of the Revenue Requirement Components as identified on Attachment 1 divided by the Total Gross Plant of the Transmission Owner. Total Gross Plant shall equal the sum of Item Nos. A(1)(a), (b) and (c) in Attachment 1.