Delivery Year REC Performance definition

Delivery Year REC Performance means, with respect to a Designated System and a Delivery Year, the number of RECs that is associated with a historical 3-year rolling average of REC Deliveries from such Designated System that has occurred and that will be used to compare against the Delivery Year Expected REC Quantity for such Delivery Year. The Delivery Year REC Performance is calculated as a 3-year rolling average based on actual REC Deliveries that occurred in the preceding three
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Delivery Year REC Performance means, with respect to a Designated System and a Delivery Year, the number of RECs that is associated with a historical 3-year rolling average of REC Deliveries from such Designated System that has occurred and that will be used to compare against the Delivery Year Expected REC Quantity for such Delivery Year. The Delivery Year REC Performance is calculated as a 3-year rolling average based on actual REC Deliveries that occurred in the preceding three (3) Delivery Years. For avoidance of doubt, the Delivery Year REC Performance will only be calculated after the occurrence of three (3) full Delivery Years after the start of the Delivery Term of such Designated System. Further, if the last Delivery Year contained in the Delivery Term is less than 12 full months, then for purposes of calculating the Delivery Year REC Performance, only RECs delivered during the last 36 months of the Delivery Term shall be used for calculating the 3-year rolling average for that last Delivery Year. For example, if the Delivery Term with respect to a Designated System terminates on February 28, 2035, then the Deliveries occurring from March 1, 2032 through February 28, 2035 will be used for purposes of calculating the 3-year rolling average for the 2034-2035 Delivery Year. Further, if such Designated System is a Community Renewable Energy Generation Project, then the initial Delivery Year REC Performance calculated after the occurrence of three
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Delivery Year REC Performance means, with respect to a Designated System and a Delivery Year, the REC quantity that is associated with a historical rolling average of REC Deliveries from such Designated System that has occurred and that will be used to compare against the Delivery Year Expected REC Quantity for such Delivery Year. The Delivery Year REC Performance is calculated as a 3-year rolling average based on actual REC Deliveries that occurred, pro-rated by the number of days for partial Delivery Years and leap years, and rounded up to the nearest whole REC. For the first Delivery Year performance, only the REC Deliveries that occurred in the first Delivery Year will be used, and for second Delivery Year performance, only the REC Deliveries that occurred through second Delivery Year will be used.” The following is added as Section 1.22.5:
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Examples of Delivery Year REC Performance in a sentence

  • For avoidance of doubt, the Delivery Year REC Performance will only be calculated after the occurrence of three (3) full Delivery Years after the start of the Delivery Term of such Designated System.

  • Further, if the last Delivery Year contained in the Delivery Term is less than 12 full months, then for purposes of calculating the Delivery Year REC Performance, only RECs Delivered during the last 36 months of the Delivery Term shall be used for calculating the 3-year rolling average for that last Delivery Year.

  • The remaining portion shall be paid ratably over the subsequent 4-year period.” 46 As such, the REC Deliveries in each of the Delivery Years accounted for in the Delivery Year REC Performance (i.e., the 3-year rolling average) will be deemed to have the same REC Deliveries in each such Delivery Year (i.e., thereby netting out any specific year underperformance or overperformance) for purposes of calculating the Delivery Year REC Performance in future Delivery Years.

  • The Delivery Year REC Performance is calculated as a 3-year rolling average based on actual REC Deliveries that occurred in the preceding three (3) Delivery Years (subject to any adjustments of deemed REC Deliveries pursuant to Section 4.2(c)(v)(B)).

  • See definition of Delivery Year REC Performance (found in Section 13(b) of the Cover Sheet).


More Definitions of Delivery Year REC Performance

Delivery Year REC Performance means, with respect to a Designated System and a Delivery Year, the number of RECs that is associated with a historical 3-year rolling average of REC Deliveries from such Designated System that has occurred and that will be used to compare against the Delivery Year Expected REC Quantity for such Delivery Year. The Delivery Year REC Performance is calculated as a 3-year rolling average based on actual REC Deliveries that occurred in the preceding three (3) Delivery Years. For avoidance of doubt, the Delivery Year REC Performance will only be calculated after the occurrence of three (3) full Delivery Years after the start of the Delivery Term of such Designated System. Further, if the last Delivery Year contained in the Delivery Term is less than 12 full months, then for purposes of calculating the Delivery Year REC Performance, only RECs delivered during the last 36 months of the Delivery Term shall be used for calculating the 3-year rolling average for that last Delivery Year. For example, if the Delivery Term with respect to a Designated System terminates on February 28, 2035, then the Deliveries occurring from March 1, 2032 through February 28, 2035 will be used for purposes of calculating the 3-year rolling average for the 2034-2035 Delivery Year.” The following is added as Section 1.22.5:
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Delivery Year REC Performance means, with respect to a Designated System and a Delivery Year, the number of RECs that is associated with a historical 3-year rolling average of REC Deliveries from such Designated System that has occurred and that will be used to compare against the Delivery Year Expected REC Quantity for such Delivery Year. The Delivery Year REC Performance is calculated as a 3-year rolling average based on actual REC Deliveries that occurred in the preceding three (3) Delivery Years (subject to any adjustments of deemed REC Deliveries pursuant to Section 4.2(c)(v) (B)). For avoidance of doubt, the Delivery Year REC Performance will only be calculated after the occurrence of three (3) full Delivery Years after the start of the Delivery Term of such Designated System. Further, if the last Delivery Year contained in the Delivery Term is less than twelve (12) full months, then for purposes of calculating the Delivery Year REC Performance, only RECs Delivered during the last thirty-six (36) months of the Delivery Term shall be used for calculating the 3-year rolling average for that last Delivery Year. For example, if the Delivery Term with respect to a Designated System terminates on February 28, 2035, then the Deliveries occurring from March 1, 2032 through February 28, 2035 will be used for purposes of calculating the 3-year rolling average for the 2034-2035 Delivery Year. Further, if such Designated System is a Community Renewable Energy Generation Project, then the initial Delivery Year REC Performance calculated after the occurrence of three (3) full Delivery Years after the start of the Delivery Term of such Designated System shall be equal to the greater of: (a) the 3-year rolling average based on actual REC Deliveries that occurred in the preceding three (3) Delivery Years and (b) the 2-year rolling average based on actual REC Deliveries that occurred in the preceding two (2) Delivery Years.
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Delivery Year REC Performance means, with respect to a Designated System and a Delivery Year, the number of RECs that is associated with a historical 3-year rolling average of REC Deliveries from such Designated System that has occurred and that will be used to compare against the Delivery Year Expected REC Quantity for such Delivery Year. The Delivery Year REC Performance is calculated as a 3-year rolling average based on actual REC Deliveries that occurred in the preceding three (3) Delivery Years. For avoidance of doubt, the Delivery Year REC Performance will only be calculated after the occurrence of three (3) full Delivery Years after the start of the Delivery Term of such Designated System. Further, if the last Delivery Year contained in the Delivery Term is less than 12 full months, then for purposes of calculating the Delivery Year REC Performance, only RECs delivered during the last 36 months of the Delivery Term shall be used for calculating the 3-year rolling average for that last Delivery Year. For example, if the Delivery Term with respect to a Designated System terminates on February 28, 2035, then the Deliveries occurring from March 1, 2032 through February 28, 2035 will be used for purposes of calculating the 3-year rolling average for the 2034-2035 Delivery Year.”. Further, if such Designated System is a Community Renewable Energy Generation Project, then the initial Delivery Year REC Performance calculated after the occurrence of three (3) full Delivery Years after the start of the Delivery Term of such Designated System shall be equal to the greater of: (a) the 3-year rolling average based on actual REC Deliveries that occurred in the preceding three (3) Delivery Years or (b) the 2- year rolling average based on actual REC Deliveries that occurred in the preceding two (2) Delivery Years.” The following is added as Section 1.22.5:
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Delivery Year REC Performance means, with respect to a Designated System and a Delivery Year, the number of RECs that is associated with a historical 3-year rolling average of REC Deliveries from such Designated System that has occurred and that will be used to compare against the 2 NTD: IPA Act Section 1-75(c)(1)(L)(iv): “Subscription of 90% of nameplate capacity or greater shall be deemed to be fully subscribed for the purposes of this item (iv).” Delivery Year Expected REC Quantity for such Delivery Year. The Delivery Year REC Performance is calculated as a 3-year rolling average based on actual REC Deliveries that occurred in the preceding three
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Delivery Year REC Performance means, with respect to a Designated System and a Delivery Year, the REC quantity that is associated with a historical rolling average of REC Deliveries from such Designated System that has occurred and that will be used to compare against the Delivery Year Expected REC Quantity for such Delivery Year. The Delivery Year REC Performance is calculated as a 3-year rolling average based on actual REC Deliveries that occurred, pro-rated by the number of days for partial Delivery Years and leap years, and rounded up to the nearest whole REC. For the first Delivery Year performance, only the REC Deliveries that occurred in the first Delivery Year will be used, and for second Delivery Year performance, only the REC Deliveries that occurred through second Delivery Year will be used.” [Commenter 7 Note: The first year “Delivery Year REC Performance” should be evaluated starting in Delivery Year 3 and be consistent with section 6.16.2 of the Final Approved LTRRPP, which states that REC delivery performance will be evaluated on a three-year rolling average basis.] The following is added as Section 1.22.5:
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Related to Delivery Year REC Performance

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