Common use of Pool Price Clause in Contracts

Pool Price. (a) In the event that the Pool Price ceases to be published by the Power Pool or is otherwise unavailable, or the method of determination of the Pool Price by the Power Pool is materially altered or the Pool Price is reasonably judged by the Parties no longer to represent a reasonable indication of the wholesale market price for electricity in Alberta, the Pool Price shall be replaced by a substitute, which is agreed upon by the Parties, that represents a reasonable indication of the wholesale market price for electricity in Alberta and any required amendments to this Arrangement shall be made. (b) In the event that a substitute for the Pool Price has not been determined at the time it is required for the purpose of making any calculation under this Arrangement, the Parties, shall, on an interim basis, use the last available values of the Rolling Average Monthly Off Peak Pool Price or Rolling Average Monthly Peak Pool Price, as the context requires, for the purpose of making such calculations. Once the substitute for the Pool Price has been determined, the Parties shall promptly make whatever final adjustments to payments which had been made between them on an interim basis as are required to give effect to such substitute for the Pool Price as of the effective date thereof.