Electric Facility definition
Examples of Electric Facility in a sentence
Data or information relating to the costs or operating a specified Electric Facility (for generating units such data or information shall include, but not be limited to, heat rates, start-up fuel requirements, fuel purchase costs, and operating and maintenance expenses) or data or information relating to the costs of providing load reductions from a specified facility participating as a Demand Side Resource in the ISO Operating Reserves or Regulation Service markets.
In addition, the Buyer will give the Seller or its affiliate a first lien on the Interconnection Electric Facility and a first lien on all other Buyer equipment located on the Seller’s or its affiliates’ property at [***].
In the event of a change to the Power Price which results in a price increase to greater than US$[***] per KWh for Buyer, the Buyer shall be entitled to terminate the PPA with immediate effect and and upon termination the Parties shall equally share the cost of the remaining principal amount of the Interconnection Electric Facility per the agreed upon amortization schedule.
In the event of any casualty and/or other damage that affects both any of the Purchased Assets and any Existing Electric Facility, the Parties shall cooperate and coordinate in the repair and, to the extent necessary or advisable, relocation and/or replacement of such facilities.
In addition, the Buyer will give the Seller a 2nd Lien on the Interconnection Electric Facility, junior only to any lien granted to Seller’s Affiliate pursuant to the Purchase Agreement, and a 1st Lien on all other property and equipment of Buyer located on the Leased Property or Seller’s property (the “Equipment Collateral”).
A default bid shall be designed to cause a Market Party to Bid as if it faced workable competition during a period when (i) the Market Party does not face workable competition, and (b) has responded to such condition by engaging in the physical or economic withholding of an Electric Facility.
The purpose of this Lease is to allow the Lessee to make productive use of the Leased Premises without cost to Lessor by allowing Lessee to lease the property for the purpose of arranging for the installation of solar photovoltaic generating units and creating a Solar Electric Facility (“SEF”) to generate and sell electric energy.
MPX shall reimburse SES's Actual Cost incurred in connection with Electric Facility Upgrades required by reason of the installation of Cable or Equipment on SES Electric Facilities OTHER THAN improvements or upgrades that are already scheduled, contemplated, or reasonably necessary or that would have been reasonably necessary within the next five (5) years in the absence of the installation of such Cable or Equipment.
In the event of a change to the MWh Rate such that the new MWh Rate would be greater than US$[***] per MWh for Buyer, then the Buyer shall be entitled to terminate the PPA immediately and without liability of either Party, except that the Parties shall equally share the cost of the remaining principal amount of the Interconnection Electric Facility pursuant to the agreed upon amortization schedule in the Purchase Agreement.
In designing and implementing default bids, the ISO shall seek to avoid causing an Electric Facility to Bid below its marginal cost.