Common use of Renewable Energy Obligation Clause in Contracts

Renewable Energy Obligation. (a) Seller shall comply with the Renewable Energy Portfolio Standard, including regulations adopted thereunder, (together the Renewable Energy Obligation) and shall provide its proportional share of the Renewable Energy Portfolio Standard. Exhibit B sets forth the obligation as of the date of the RFP from which this FSA has been executed. If, on or after the Initial Bid Date, the Renewable Energy Portfolio Standard is changed, and/or a new Federal Renewable Requirement is enacted, by law or regulation during a Delivery Period, Seller may charge the Buyer the additional cost, if any, of its proportional increase in Renewable Energy Portfolio Standard for the remainder of the year of SOS in which the change takes effect (“Initial Year New Requirements”), subject to the provisions below. Seller shall provide the Buyer, subject to the confidentiality provisions of this Agreement, sufficient information to demonstrate that the increase in cost is due solely to the revised Renewable Energy Portfolio Standard and that the cost for such additional Renewable Energy Portfolio Standard is commercially reasonable. Buyer will file with the Maryland PSC, and provide notice to all Parties (as that term is used in the Maryland PSC Orders and Settlements), a request for a proceeding to be opened to consider recovery of such additional costs. Seller is required to intervene in any such proceeding before the Maryland PSC. Such additional costs can only be charged by Seller to Buyer to the extent that the Maryland PSC approves Buyer’s recovery of those costs. Approved additional costs that are incurred by Seller prior to the date of Maryland PSC approval shall include, but shall not be limited to, any Alternative Compliance Payments or Solar Alternative Compliance Payments (as those terms are used in the Renewable Energy Portfolio Standard) paid by the Seller with respect to Initial Year New Requirements, as well as interest at the Interest Rate, applied on a monthly basis from the date the costs are incurred. Seller agrees to be bound by the decision of the Maryland PSC (subject to the normal rules for appeal of the decision of the Maryland PSC) and waives all claims concerning this issue before FERC. Notwithstanding the foregoing, nothing in this Agreement shall preclude Seller from taking any position before any Governmental Authority regarding creation of or changes to the Renewable Energy Portfolio Standard.

Renewable Energy Obligation. (a) Seller shall comply with the Renewable Energy Portfolio Standard, including regulations adopted thereunder, (together the Renewable Energy Obligation) and shall provide its proportional share of the Renewable Energy Portfolio Standard. Exhibit B sets forth the obligation as of the date of the RFP from which this FSA has been executed. If, on or after the Initial Bid Date, the Renewable Energy Portfolio Standard is changed, and/or a new Federal Renewable Requirement is enacted, by law or regulation during a Delivery Period, Seller may charge the Buyer the additional cost, if any, of its proportional increase in Renewable Energy Portfolio Standard for the remainder of the year of SOS in which the change takes effect (“Initial Year New Requirements”), subject to the provisions below. Seller shall provide the Buyer, subject to the confidentiality provisions of this Agreement, sufficient information to demonstrate that the increase in cost is due solely to the revised Renewable Energy Portfolio Standard and that the cost for such additional Renewable Energy Portfolio Standard is commercially reasonable. Buyer Xxxxx will file with the Maryland PSC, and provide notice to all Parties (as that term is used in the Maryland PSC Orders and Settlements), a request for a proceeding to be opened to consider recovery of such additional costs. Seller is required to intervene in any such proceeding before the Maryland PSC. Such additional costs can only be charged by Seller to Buyer to the extent that the Maryland PSC approves Buyer’s recovery of those costs. Approved additional costs that are incurred by Seller prior to the date of Maryland PSC approval shall include, but shall not be limited to, any Alternative Compliance Payments or Solar Alternative Compliance Payments (as those terms are used in the Renewable Energy Portfolio Standard) paid by the Seller with respect to Initial Year New Requirements, as well as interest at the Interest Rate, applied on a monthly basis from the date the costs are incurred. Seller Xxxxxx agrees to be bound by the decision of the Maryland PSC (subject to the normal rules for appeal of the decision of the Maryland PSC) and waives all claims concerning this issue before FERC. Notwithstanding the foregoing, nothing in this Agreement shall preclude Seller from taking any position before any Governmental Authority regarding creation of or changes to the Renewable Energy Portfolio Standard.

Renewable Energy Obligation. (a) Seller shall comply with the Renewable Energy Portfolio Standard, including regulations adopted thereunder, (together the Renewable Energy Obligation) and shall provide its proportional share of the Renewable Energy Portfolio Standard. Exhibit B sets forth the obligation as of the date of the RFP from which this FSA has been executed. If, on or after the Initial Bid Date, the Renewable Energy Portfolio Standard is changed, and/or a new Federal Renewable Requirement is enacted, by law or regulation during a Delivery Period, Seller may charge the Buyer the additional cost, if any, of its proportional increase in Renewable Energy Portfolio Standard for the remainder of the year of SOS in which the change takes effect (“Initial Year New Requirements”), subject to the provisions below. Seller shall provide the Buyer, subject to the confidentiality provisions of this Agreement, sufficient information to demonstrate that the increase in cost is due solely to the revised Renewable Energy Portfolio Standard and that the cost for such additional Renewable Energy Portfolio Standard is commercially reasonable. Buyer Xxxxx will file with the Maryland PSC, and provide notice to all Parties (as that term is used in the Maryland PSC Orders and Settlements), a request for a proceeding to be opened to consider recovery of such additional costs. Seller Xxxxxx is required to intervene in any such proceeding before the Maryland PSC. Such additional costs can only be charged by Seller to Buyer to the extent that the Maryland PSC approves Buyer’s recovery of those costs. Approved additional costs that are incurred by Seller prior to the date of Maryland PSC approval shall include, but shall not be limited to, any Alternative Compliance Payments or Solar Alternative Compliance Payments (as those terms are used in the Renewable Energy Portfolio Standard) paid by the Seller with respect to Initial Year New Requirements, as well as interest at the Interest Rate, applied on a monthly basis from the date the costs are incurred. Seller Xxxxxx agrees to be bound by the decision of the Maryland PSC (subject to the normal rules for appeal of the decision of the Maryland PSC) and waives all claims concerning this issue before FERC. Notwithstanding the foregoing, nothing in this Agreement shall preclude Seller from taking any position before any Governmental Authority regarding creation of or changes to the Renewable Energy Portfolio Standard.

Renewable Energy Obligation. (a) Seller shall comply with the Renewable Energy Portfolio Standard, including regulations adopted thereunder, (together the Renewable Energy Obligation) and shall provide its proportional share of the Renewable Energy Portfolio Standard. Exhibit B sets forth the obligation as of the date of the RFP from which this FSA has been executed. If, on or after the Initial Bid Date, the Renewable Energy Portfolio Standard is changed, and/or a new Federal Renewable Requirement is enacted, by law or regulation during a Delivery Period, Seller may charge the Buyer the additional cost, if any, of its proportional increase in Renewable Energy Portfolio Standard for the remainder of the year of SOS in which the change takes effect (“Initial Year New Requirements”), subject to the provisions below. Seller shall provide the Buyer, subject to the confidentiality provisions of this Agreement, sufficient information to demonstrate that the increase in cost is due solely to the revised Renewable Energy Portfolio Standard and that the cost for such additional Renewable Energy Portfolio Standard is commercially reasonable. Buyer will file with the Maryland PSC, and provide notice to all Parties (as that term is used in the Maryland PSC Orders and Settlements), a request for a proceeding to be opened to consider recovery of such additional costs. Seller Xxxxxx is required to intervene in any such proceeding before the Maryland PSC. Such additional costs can only be charged by Seller to Buyer to the extent that the Maryland PSC approves Buyer’s recovery of those costs. Approved additional costs that are incurred by Seller prior to the date of Maryland PSC approval shall include, but shall not be limited to, any Alternative Compliance Payments or Solar Alternative Compliance Payments (as those terms are used in the Renewable Energy Portfolio Standard) paid by the Seller with respect to Initial Year New Requirements, as well as interest at the Interest Rate, applied on a monthly basis from the date the costs are incurred. Seller Xxxxxx agrees to be bound by the decision of the Maryland PSC (subject to the normal rules for appeal of the decision of the Maryland PSC) and waives all claims concerning this issue before FERC. Notwithstanding the foregoing, nothing in this Agreement shall preclude Seller from taking any position before any Governmental Authority regarding creation of or changes to the Renewable Energy Portfolio Standard.