Material Cost Change definition
Material Cost Change has the meaning given such term in section 14.1(iv). “Maximum IOU Annual Adjustment Amount,” for any IOU other than Idaho Power, has the meaning given such term in section 6.2.3(iii). “Maximum IOU Annual Adjustment Amount,” for Idaho Power, has the meaning given such term in section 6.2.3(iv).
Material Cost Change means and will occur if and at such time as the BPA Administrator adopts Priority Firm Rates for a Rate Period that result in an Adjusted Average PF Rate for such Rate Period that is greater than 79% of the arithmetic load-weighted average of the ASCs (adjusted to not give effect to the waivers set forth in section 6.4) of the IOUs. Such load-weighted average will be determined by averaging the ASCs (adjusted to not give effect to the waivers set forth in section 6.4) of the IOUs for such Rate Period weighted by the respective Residential Loads of the IOUs for such Rate Period, all as BPA will determine in the Rate Proceeding for such Rate Period. The ASC for any Rate Period of any IOU that does not file for such Rate Period an Appendix 1 as provided in section 4 of its REP Settlement Implementation Agreement will be determined for purposes only of this section 14 by BPA using the applicable FERC Form 1s and other publicly available information.
Examples of Material Cost Change in a sentence
Any notice given pursuant to this section 14.2 must be given after the issuance of the Record of Decision adopting the Priority Firm Rates for the Rate Period for which the applicable Material Cost Change has occurred and must be given on or prior to the expiration of 60 days after the issuance of such Record of Decision.