Purchase and Sale of Power Clause Samples
The "Purchase and Sale of Power" clause defines the agreement between parties for the buying and selling of electrical power. It typically outlines the quantity of power to be delivered, the delivery schedule, and the price or pricing mechanism. For example, it may specify that a seller will provide a certain number of megawatt-hours to a buyer at a fixed or market-based rate over a set period. This clause is essential for establishing the commercial terms of the transaction, ensuring both parties understand their obligations and reducing the risk of disputes over delivery or payment.
Purchase and Sale of Power. 5.1 Subject to the terms and conditions of this Agreement, Seller shall sell and deliver and PSNH shall purchase and accept delivery of one hundred percent (100%) of the Products produced by the Facility.
5.2 The original “Scheduled Operation Date” of the Facility is June 1, 2014. ▇▇▇▇▇▇ agrees to give notice to PSNH at the end of each calendar quarter of any change in this date and of progress in obtaining permits and constructing the Facility.
5.3 Seller shall deliver the Energy to PSNH at the Delivery Point.
5.4 Prior to the In-Service Date and satisfaction of the Prerequisites for Purchases listed in Article 4, but subsequent to the execution of an Interconnection Agreement, Seller shall sell and PSNH shall purchase one hundred percent (100%) of the Products generated during this period, including Products generated pursuant to such Facility testing, at the prices set forth in Section 6.1.1.
5.5 Following the In-Service Date and subject to the satisfaction of the Prerequisites for Purchases listed in Article 4, throughout the Term, Seller shall deliver to PSNH one hundred percent (100%) of the Products and PSNH shall purchase the Products at the prices set forth in Section 6.1.2.
Purchase and Sale of Power. 4.3.1 Subject to the terms and conditions of this Agreement, the SPD undertakes to sell solar power to LED and LED undertakes to purchase such power and pay Tariff for all the energy supplied at the Delivery Point corresponding to the Contracted Capacity.
Purchase and Sale of Power. 3 Section 3.1 Purchases by Buyer 3 Section 3.2 Point of Delivery 5
Purchase and Sale of Power. In the current energy market, electricity is worth more when it is most in demand. At present, Monday to Friday, 6:00 a.m. to 10:00 p.m. is when electricity is worth most. This is the on-peak period. The rest of the time (10:00 p.m. to 6:00 a.m.) is the off-peak period. Electricity is generally worth more money if the seller can guarantee to deliver a pre-determined amount at a future time. Usually, the further in the future the delivery of power is to occur, the more it is worth. For the purposes of this agreement, long-term transactions are transactions where Hydro enters into a written agreement to begin selling or buying power in markets outside Manitoba and which sales or purchases occur more than one year from the date the agreement is entered into. All other sales of power are referred to in this agreement as opportunity transactions. Buyers generally pay more for long-term transactions than for opportunity transactions. The Wuskwatim Partnership will be compensated by Hydro for the actual energy received by Hydro as follows. • Energy delivered during on-peak hours will be paid for at the Long Term Transaction Rate, which is the average weighted price charged or paid by Hydro for long-term transactions occurring during that same time period. • Energy delivered during off-peak hours will be paid for at the Opportunity Transaction Rate, which is the average weighted price charged or paid by Hydro for all opportunity transactions occurring during that same period. • Commissioning energy is energy used to test the equipment etc. when it first becomes operational; Hydro will compensate the Wuskwatim Partnership for such energy at the off-peak opportunity rate which is the average weighted price charged or paid by Hydro for the opportunity transactions for energy delivered by Hydro in the off peak period during the same period of time. • Where, in any year, there are, for long term transactions, less than 800 GWh energy bought or sold by Hydro pursuant to those transactions (insufficient transactions), either NCN or Hydro may apply for an energy rate review under the PDA and if neither does, the rate paid for the on- peak power will be the on- peak opportunity rate which is the average weighted price charged or paid by Hydro pursuant to the opportunity transactions for energy delivered in the on-peak period during that same time period. • “Where, in any year, there are for the opportunity transactions less than 1,500 GWh of energy bought or sold by Hydro ...
Purchase and Sale of Power. CAPACITY RIGHTS 15 Purchases by Buyer........... .......................................... . 15 Facility’s Point of Delivery............ ............................... 15 Energy to Come Exclusively from Facility................... 15
Purchase and Sale of Power. 30 Section 6.1 Purchases by Buyer 30 Section 6.2 Seller’s Delivery Obligation 30 Section 6.3 Buyer’s and Seller’s Intent 31
Purchase and Sale of Power. 35 Section 6.1 Purchases by Buyer 35 Section 6.2 Point of Delivery 36 Section 6.3 Seller’s Failure 36 Section 6.4 Buyer’s Failure 36 Section 6.5 Energy to Come Exclusively from Facility 36 Section 6.6 Sales to Third Parties 36 Section 6.7 Nature of Remedies 37
Purchase and Sale of Power. In the current energy market, electricity is worth more when it is most in demand. At present, Monday to Friday, 6:00 a.m. to 10:00 p.m. is when electricity is worth most. This is the on-peak period. The rest of the time (10:00 p.m. to 6:00 a.m.) is the off-peak period. Electricity is sold to the domestic market (within Manitoba) and to the export market (outside of Manitoba). Global market conditions, including the introduction of new fracking technology for natural gas, have resulted in export prices being depressed. As this has affected the first few years of operation of the Project, the Parties have agreed Hydro will pay for some of the energy produced by Wuskwatim at domestic energy prices for a period of 10 years. After this period of time, the pricing will revert to export market pricing only. Electricity is generally worth more money if the seller can guarantee to deliver a pre-determined amount at a future time. Usually, the further in the future the delivery of power is to occur, the more it is worth. For the purposes of this agreement, long-term transactions are transactions where Hydro enters into a written agreement to begin selling or buying power in markets outside Manitoba and which sales or purchases occur more than one year from the date the agreement is entered into. All other sales of power are referred to in this agreement as opportunity transactions. Buyers generally pay more for long-term transactions than for opportunity transactions. The Wuskwatim Partnership will be compensated by Hydro for the actual energy received by Hydro as follows. • Energy delivered during on-peak hours will be paid for at the Long Term Transaction Rate, which is the average weighted price charged or paid by Hydro for long-term transactions occurring during that same time period. • Energy delivered during off-peak hours will be paid for at the Opportunity Transaction Rate, which is the average weighted price charged or paid by Hydro for all opportunity transactions occurring during that same period. • Where, in any year, there are, for long term transactions, less than 800 GWh energy bought or sold by Hydro pursuant to those transactions (insufficient transactions), either NCN or Hydro may apply for an energy rate review under the PDA and if neither does, the rate paid for the on- peak power will be the on- peak opportunity rate which is the average weighted price charged or paid by Hydro pursuant to the opportunity transactions for energy delivered in the...
Purchase and Sale of Power