Common use of Forecasting Penalties Clause in Contracts

Forecasting Penalties. In the event Seller does not in a given hour either: (a) provide the access and information required in Appendix E, Section 1; (b) comply with the installation, maintenance and repair requirements of Appendix E, Section 4; or (c) provide the forecast of Available Capacity required in Appendix D, Section 3, and the sum of Energy Deviations for each of the six Settlement Intervals in the given hour exceeded the Performance Tolerance Band defined below, then Seller will be responsible for Forecasting Penalties as set forth below. The Performance Tolerance Band is five percent (5%) multiplied by Contract Capacity multiplied by one (1) hour (“Performance Tolerance Band”). The Forecasting Penalty shall be equal to one hundred fifty percent (150%) of the Contract Price for each MWh of Energy Deviation outside the Performance Tolerance Band, or any portion thereof, in every hour for which Seller fails to meet the requirements in Section 2.9.3 (“Forecasting Penalty”).