Guaranteed Energy Production definition
Guaranteed Energy Production or “GEP” has the meaning set forth in Section 3.1(e)(ii).
Guaranteed Energy Production has the meaning set forth in Section 3.1(e).
Guaranteed Energy Production means an amount of Delivered Energy (including, for purposes of this Section 11, Paid Curtailed Product), as measured in MWh, equal to the product of (x) and (y), where (x) is one hundred eighty percent (180%) of the average of the Contract Quantity over the Performance Measurement Period and (y) is the difference between (I) and (II), with the resulting difference divided by (I), where (I) is the number of hours in the applicable Performance Measurement Period and (II) is the aggregate number of Seller Excuse Hours in the applicable Performance Measurement Period. Guaranteed Energy Production is described by the following formula:
Examples of Guaranteed Energy Production in a sentence
If the Buy Down Payment is not received from Seller within seven (7) Business Days of the Buy Down Date, the Contract Quantities and Guaranteed Energy Production requirement for each Contract Year shall not be reduced.
Upon Seller’s payment of the Buy Down Payment, the Contract Quantities and Guaranteed Energy Production requirements for each Contract Year shall be reduced pro rata based upon the Final Installed Capacity as of the Buy Down Date.
If Seller fails to achieve the Guaranteed Energy Production amount in any Performance Measurement Period, Seller shall pay Buyer damages calculated in accordance with Exhibit G; provided that Seller may, as an alternative, provide Replacement Product (as defined in Exhibit G) delivered to the PNode corresponding the electric generating facility producing such Replacement Product within ninety (90) days after the conclusion of the applicable Performance Measurement Period.
Upon ▇▇▇▇▇’s payment of the Buy Down Payment Refund, ELECTRONICALLY FILED - 2025 March 3 4:12 PM - SCPSC - Docket # 2025-15-E - Page 21 of 71 the Contract Quantities and Guaranteed Energy Production requirements for each Contract Year shall be increased pro rata based upon the Additional Qualifying Nameplate Capacity.
Seller shall be required to deliver to Buyer no less than the Guaranteed Energy Production in each Performance Measurement Period.
More Definitions of Guaranteed Energy Production
Guaranteed Energy Production or “GEP” has the meaning set forth in Section 11.1.
Guaranteed Energy Production means the amount of energy, measured in kilowatt hours alternating current, that the qualified provider guarantees for each year of the guaranteed energy production contract.
Guaranteed Energy Production is equal to the product of (x) and (y), where (x) is one hundred sixty percent (160%) of the average of the Contract Quantities applicable to the two (2) Contract Years comprising the Performance Measurement Period , and (y) is the difference between (I) and (II), with the resulting difference divided by (I), where (I) is the number of hours in the applicable Performance Measurement Period and (II) is the aggregate number of Seller Excuse Hours in the applicable Performance Measurement Period. Guaranteed Energy Production is described by the following formula: Guaranteed Energy Production = (160% × average of the Contract Quantities in MWh in Performance Measurement Period) × [(Hrs in Performance Measurement Period – Seller Excuse Hrs in Performance Measurement Period) / Hrs in Performance Measurement Period]
Guaranteed Energy Production is equal to the product of (x) and (y), where (x) is ninety percent (90%) of the Contract Quantity, and (y) is the difference between (I) and (II), with the resulting difference divided by (I), where (I) is the number of hours in the applicable Performance Measurement Period and (II) is the aggregate number of Seller Excuse Hours in the applicable Performance Measurement Period. Guaranteed Energy Production is described by the following formula: Guaranteed Energy Production = (90% * Contract Quantity in MWh) * [(Hrs in Performance Measurement Period – Seller Excuse Hrs in Performance Measurement Period) / Hrs in Performance Measurement Period] ]
Guaranteed Energy Production means an amount of Bundled Green Energy, as measured in MWh, equal to [two times] [________]% of the Contract Quantity. Notwithstanding the excuses to performance set forth in the definition of the Product type (as such Product type is specified in Section 3.1(a)), Seller shall be excused from achieving the Guaranteed Energy Production during any Performance Measurement Period only to the extent of any Force Majeure events, Buyer’s failure to perform, or Dispatch Down Periods. For purposes of determining whether Seller has achieved the Guaranteed Energy Production, Seller shall be deemed to have delivered to Buyer an amount of Bundled Green Energy that it could reasonably have delivered to Buyer but was prevented from delivering to Buyer by reason of any Force Majeure events, ▇▇▇▇▇’s failure to perform, or Dispatch Down Periods.
Guaranteed Energy Production means the amount of energy,
Guaranteed Energy Production means an amount of Delivered Energy, as measured in MWh, equal to the product of (x),(y), where (x) is one hundred sixty percent (160%) of the then-applicable Contact Quantities for the Performance Measurement Period, (y) is the difference between (I) and (II), with the resulting difference divided by (I), where (I) is the number of hours in the applicable Performance Measurement Period and (II) is the aggregate number of Seller Excuse Hours in the applicable Performance Measurement Period. Guaranteed Energy Production is described by the following formula: Guaranteed Energy Production = (160% * Contract Quantity in MWh) * [(Hrs in Performance Measurement Period - Seller Excuse Hrs) / Hrs in Performance Measurement Period] If Seller has a GEP Failure, then within forty-five (45) days after the last day of the last month of such Performance Measurement Period, Buyer shall promptly notify Seller of such failure. Seller may cure the GEP Failure by delivering to Buyer no less than ninety percent (90%) of the Contract Quantity over the next following Contract Year (“GEP Cure”). If Seller fails to generate sufficient Delivered Energy to make the GEP Cure for a given Performance Measurement Period, Seller shall pay GEP Damages, calculated pursuant to Appendix VII (GEP Damages Calculation), provided however that in lieu of paying GEP Damages, Seller shall have the one-time option to reduce the Contract Capacity to no less than seventy percent (70%) of the original Contract Capacity. In the event that the Contract Capacity is reduced pursuant to Sections 3.1(e)(ii)(B) above, (i) the Contract Quantity during each Contract Year set forth in the Delivery Term Contract Schedule set forth in Appendix V shall be adjusted proportionately with such reduction, and (ii) the Guaranteed Energy Production shall be adjusted to one hundred sixty percent (160%) of the then-applicable Contract Quantities for the Performance Measurement Period, as described by the following formula: Guaranteed Energy Production = (160% * adjusted Contract Quantity in MWh) * [(Hrs in Performance Measurement Period - Seller Excuse Hrs) / Hrs in Performance Measurement Period] Seller shall not incur or be subject to any liability, including but not limited to GEP Damages hereunder as a result of such one-time reduction in the Contract Capacity or adjusted Contract Quantities pursuant to Section 3.1(e)(ii)(B). The Parties agree that the damages sustained by Buyer associated with Seller’s failure to achi...