Accordingly, APSA Buyers are exposed to risks of capital cost increases, both before and after the Commercial Operation Date, which are simply not applicable to PPA Buyers.
In turn, PPA Buyers would benefit from important risk protection from fuel-based escalation indices in current and future fuel markets which, for the reasonably foreseeable future, may be extremely volatile.
During the development and construction period, the risks of licensing or other development failure, construction mishaps and retrofits, cost overruns and defective or late completion are largely accepted by PPA Sellers and largely avoided by PPA Buyers.
In contrast to the PPA Buyers, EPC Buyers, as asset owners, will be exposed to the full risk of fuel market escalation18.
The IE has proposed a slightly revised schedule designed to provide addition time for the bid evaluation and best and final offer but reduces the time available to prepare the initial bid to be consistent with the 2008 All Source RFP; * PPA Buyers are offered more cost protection from unanticipated changes than EPC Buyers.