FERC Index definition
Examples of FERC Index in a sentence
In the event the FERC Index is greater than four percent (4.0%) in any given year, then the difference between the FERC Index and (b) above will be accrued and carried forward and added to future years FERC Index in subsequent years where the FERC Index is less than four percent (4.0%).
For example, if the FERC Index is five percent (5.0%) in a year three post the Commencement Date, and three percent (3.0%) in year four post the Commencement Date, then the FERC Index adjustment shall be capped at four percent (4.0%) in year three when the FERC Index is five percent (5.0%) and the FERC Index adjustment shall be increased to four percent (4.0%) in year four when the calculated FERC Index is three percent (3.0%).
In the event that the FERC Index ceased to be published by the Federal Energy Regulatory Commission, a new index shall be established as mutually agreed by the parties.
The Gathering Fee shall be adjusted each year beginning in 2017 as set forth in Section 7.4 below (for example: assuming that the FERC Index provided for a 2% upward adjustment each year during the first 5 years of this Agreement, then the effective Gathering Fee beginning in the sixth year of this Agreement would be $0.856 per barrel) for transportation services from the CPFs to Carrier’s interconnect facilities with PPLP at PPLP’s Z285 Station located in R▇▇▇▇▇ County, Texas.
Notwithstanding Section 7 of Exhibit B, Hub Administrator may elect to cash-out any positive or negative imbalance which exists as of the last day of any Hub Transaction which is less than one thousand (1,000) MMBtu at a price equal to the Inside F.E.R.C. Index Price for the appropriate delivery point as published for the first day of the then current month.