M&V Report definition
Examples of M&V Report in a sentence
As a result of such investigation, QESP and Department shall determine what, if any, adjustments to the baseline will be made in accordance with the provisions set forth in Schedule C (Savings Measurement and Verification Plan; Post-Retrofit M&V Plan; Annual M&V Report Requirements) and Schedule B (Baseline Energy Consumption; Methodology to Adjust Baseline).
As part of the M&V Services, and as set forth in the M&V Plan, Honeywell will provide Customer with a Guaranteed Savings reconciliation report (“M&V Report”) within ninety (90) days after receipt of the information Customer is to provide as part of the Customer Guarantee Practices that is reasonably necessary to the preparation of the M&V Report.
Customer will have forty-five (45) days to review the M&V Report and provide written notice to Honeywell of non-acceptance of the Guaranteed Savings for that Guarantee Year.
Data and calculations utilized by Honeywell in the preparation of its M&V Report will be made available to Customer, along with such explanations and clarifications as Customer may reasonably request.
Failure to provide written notice within forty-five (45) days of the receipt of the M&V Report will deem it accepted by Customer.
If the Participant relinquishes any EE Capacity Obligation during or following the Obligation Period to which the EE Capacity Obligation relates, the Participant shall continue to be required to conduct measurement and verification required pursuant to its M&V Plan and submit its M&V Report with respect to the applicable Obligation Period.
Following the IESO’s approval of the Participant’s M&V Report in accordance with Section 5.3, the Participant shall submit to the system known as “Online IESO” an invoice for the EE Capacity Payment set out in the approved M&V Report and the IESO will transfer such funds via electronic funds transfer into the Participant’s bank account registered with the IESO in “Online IESO”.
Subject to the terms of this Agreement, the IESO shall pay to the Participant a EE Capacity Payment for each Obligation Period for which they have an EE Capacity Obligation and a M&V Report approved by the IESO, and received all other supporting documentation and evidence as required by this Agreement or as otherwise requested by the IESO.
Additional Cost Avoidance, including any utility rebates or other incentives, that can be demonstrated, or earned, as a result of Honeywell’s efforts that result in no additional costs to Customer beyond the costs identified in this Agreement will be included in the M&V Report (as defined in Section C.3.2 below) for the applicable Guarantee Year(s).
The IESO will provide its approval or comments on the M&V Report to the Participant within a reasonable time.