Forward Capacity Market Participation Sample Clauses
The Forward Capacity Market Participation clause outlines the terms under which a party may engage in forward capacity markets, typically to buy or sell commitments to provide electricity capacity in the future. This clause specifies the obligations, rights, and procedures for participating in such markets, including requirements for registration, compliance with market rules, and the handling of revenues or penalties associated with capacity transactions. Its core function is to ensure that both parties understand their roles and responsibilities in forward capacity markets, thereby reducing the risk of non-compliance and clarifying how market participation impacts the contractual relationship.
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Forward Capacity Market Participation. Seller shall participate in the ISO-NE’s Forward Capacity Auction Qualification (“FCAQ”) process for, and take all other necessary and appropriate actions to qualify for, the Forward Capacity Auction (“FCA”) for the first full Capacity Commitment Period during the Services Term with a summer Seasonal Claimed Capability and a winter Seasonal Claimed Capability in each case not less than the respective maximum Seasonal Claimed Capabilities as determined by ISO-NE for Seller’s project as described in the Bid, including qualifying the Seasonal Claimed Capabilities described in the Bid for Capacity Capability Interconnection Standard-equivalent interconnection. Notwithstanding the above, actual Seller participation in any FCA or obtaining a Capacity Supply Obligation shall not be required, but may be pursued at the option of Seller. Seller will provide Buyer with copies of all technical reports and studies provided to and/or by ISO-NE as part of the FCAQ process for the Facility, as described in this Section 3.7, at the same time when those materials are provided to and/or by ISO-NE. Seller shall use commercially reasonable efforts, consistent with Good Utility Practice, to maximize the summer and winter Seasonal Claimed Capabilities for the Facility consistent with the technical reports and studies provided to and/or by ISO-NE and with the Bid. Seller will provide Buyer with written notice of the summer and winter Seasonal Claimed Capabilities for the Facility and the Network Upgrades required to satisfy both the Network Capability Interconnection Standard and the equivalent of the Capacity Capability Interconnection Standard at the Interconnection Point at those Seasonal Claimed Capabilities within fifteen (15) days after the determination thereof by ISO-NE.
Forward Capacity Market Participation. Seller shall participate in such Forward Capacity Auction qualification process as required to allow Seller to qualify a Seasonal Claimed Capability of not less than 1,090 MW over the U.S. Transmission Line no later than the Guaranteed Delivery Term Start Date, as it may be extended pursuant to Sections 3.1(c) through 3.1(f). The Parties acknowledge and agree that (a) such participation by Seller is only intended to allow ISO-NE to determine which Network Upgrades would be required to (i) deliver such Seasonal Claimed Capability and (ii) satisfy the Capacity Capability Interconnection Standard under the ISO-NE Rules and (b) as contemplated by the TSA, such Network Upgrades, if any, shall be at U.S. Transmission Provider’s sole expense. For the avoidance of doubt, but without limiting the condition set forth in Section 3.4(b)(ii), Seller shall have no obligation during the Services Term to pay for such Network Upgrades or to complete the Forward Capacity Auction qualification process.
Forward Capacity Market Participation. Seller shall take (i) all necessary and appropriate actions to qualify and participate in every FCM auction applicable to the Services Term; and (ii) commercially reasonable actions to be selected and compensated in every FCM auction applicable to the Services Term, in each case with a Seasonal Claimed Capacity of not less than [ ] MW. Subject to Good Utility Practice, Seller shall operate the Facility in a
Forward Capacity Market Participation. (a) Seller agrees to use commercially reasonable efforts to maintain throughout the Term the Facility’s Capacity Supply Obligation (“CSO”) for the entire quantity of capacity of its CSO as of the Effective Date and agrees not to withdraw or reduce such participation or positions taken. For the avoidance of doubt, Seller shall take all required actions to so preserve the full CSO and shall not permit or agree to any reduction or elimination of the Facility’s CSO. If despite ▇▇▇▇▇▇’s commercially reasonable efforts the CSO is reduced or eliminated, the Seller agrees to use commercially reasonable efforts to qualify and participate in FCM auction activity, including, but not limited to, annual Forward Capacity Auctions (“FCA”) so as to maximize the amount of capacity the Facility provides in the FCM. If despite such commercially reasonable efforts the Seller is unsuccessful in obtaining a CSO for the entire quantity available to be offered in any annual FCA, then Seller agrees to pursue such remaining quantity in substitution auctions. If Seller, despite its commercially reasonable efforts, is not successful in obtaining a CSO for the entire quantity available to be offered in either the annual FCA or the substitution auction, Seller agrees to pursue a CSO for the remaining quantity available to be offered first in the annual reconfiguration auctions, and if unsuccessful in the annual reconfiguration auctions, in the monthly reconfiguration auctions. Seller shall provide documentation to the Buyer demonstrating the satisfaction of the foregoing obligations.
(b) In the event that the FCM market rules are changed such that existing Capacity Resources are required to submit non-zero offers or de-list bids or are attributed non- zero offers or de-list bids in the annual FCA and this results in a material portion of the Facility not receiving a CSO in the annual FCA, then the Parties agree to negotiate in good faith in an attempt to amend or clarify this Agreement to address the changed FCM market rules, provided that neither Party shall have any obligation to agree to any particular amendment or clarification of this Agreement. Any such amendment or clarification will reflect, as closely as possible, the intent, substance and effect of this Agreement prior to such change, provided that such amendment or clarification shall not in any event alter (i) the purchase and sale obligations of the Parties pursuant to this Agreement, or (ii) the Price. The parties will in...
Forward Capacity Market Participation. Seller shall take (i) all necessary and appropriate actions to qualify and participate in every FCM auction applicable to the Services Term; and (ii) commercially reasonable actions to be selected and compensated in every FCM auction applicable to the Services Term, in each case with a Seasonal Claimed Capacity of not less than [_____] MW. Subject to Good Utility Practice, Seller shall operate the Facility in a manner to maximize the Capacity Supply Obligation of the Facility. [Provision included to the extent the proposal contemplates an FCM commitment] Continuing Nature of Representations and Warranties. The representations and warranties set forth in this Section are made as of the Effective Date and deemed made continually throughout the Term, subject to the removal of the references to the Regulatory Approval and Permits as and when the Regulatory Approval and Permits are obtained. If at any time during the Term, a Party has knowledge of any event or information which causes any of the representations and warranties in this Article 7 to be untrue or misleading, such Party shall provide the other Party with prompt written notice of the event or information, the representations and warranties affected, and the corrective action such Party shall take. The notice required pursuant to this Section shall be given as soon as practicable after the occurrence of each such event.
Forward Capacity Market Participation. Seller must take (i) all necessary and appropriate actions to qualify and participate; and (ii) commercially reasonable actions to be selected and compensated in every auction applicable to the Services Term, in any capacity market, including the Forward Capacity Market and any successor capacity market. Subject to Good Utility Practice and the manufacturer’s guidelines for all material components of the Facility, Seller shall operate the Facility in a manner to maximize the Capacity Supply Obligation of the Facility. Seller shall use best efforts to make Network Upgrades such that the maximum output of the Facility shall be qualified to participate in the FCM. Seller shall provide documentation to the Buyer demonstrating the satisfaction of the foregoing obligations. Notwithstanding the foregoing, Seller shall have no obligation under this Section 7.4 unless and until Seller can participate in the FCM as provided in the ISO-NE Rules, as revised from time to time at materially no more cost or risk than would be incurred by a wind generating facility of comparable size within the ISO-NE control area under the ISO-NE Rules at that time. Notwithstanding the foregoing, nothing in this Agreement shall entitle Buyer to any capacity revenues related to the Facility.
Forward Capacity Market Participation. Parties shall at least once per contract year, negotiate in good faith whether Seller shall bid into the FCM or any successor market, and subject to Good Utility Practice, operate the Facility in a manner to maximize the capacity value credited to the Facility. Any annual net positive capacity revenues will be shared 60% to Seller, 40% to Buyer.
Forward Capacity Market Participation. Seller must take (i) all necessary and appropriate actions to qualify and participate; and (ii) commercially reasonable actions to be selected and compensated in every auction applicable to the Services Term, in any capacity market, including the Forward Capacity Market and any successor capacity market. Subject to Good Utility Practice, Seller shall operate the Facility in a manner to maximize the Capacity Supply Obligation of the Facility. Seller shall use best efforts to make Network Upgrades such that the maximum output of the Facility shall be qualified to participate in the FCM. Seller shall provide documentation to the Buyer demonstrating the satisfaction of the foregoing obligations.] [to be included in PPAs for those selected bids that provide for participation in FCM; otherwise this provision will be deleted in the execution version PPA]
Forward Capacity Market Participation. Seller must take (i) all necessary and appropriate actions to qualify and participate; and (ii) commercially reasonable actions to be selected and compensated in every auction applicable to the Services Term, in any capacity market in ISO-NE, including the Forward Capacity Market and any successor capacity market. Subject to Good Utility Practice, Seller shall operate the Facility in a manner to maximize the Capacity Supply Obligation of the Facility. Seller shall use best efforts to make Network Upgrades such that the maximum output of the Facility shall be qualified to participate in the FCM. Seller shall provide documentation to the Buyer demonstrating the satisfaction of the foregoing obligations. Seller shall retain all revenues received from ISO-NE for its capacity in the Forward Capacity Market, and shall have no liability to Buyer nor shall it be a default if Seller’s capacity does not clear the capacity in the Forward Capacity Market.