REC Value definition

REC Value means: (a) where there is a liquid market for such RECs, the cost to Provider to purchase RECs (for the avoidance of doubt, Provider may use quotes from unaffiliated third-parties to prove the cost of such RECs and need not actually purchase equivalent RECs); (b) where the rate for such REC is fixed by Applicable Law, the Forecasted Production relating to such RECs multiplied by such rate; or (c) if neither of the above clauses (a) or (b) apply, then the value of the applicable RECs, as reasonably determined by Provider.
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REC Value means $ /MWh.
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REC Value means the greater of (a) the average market price, over the relevant time period, for Green Attributes in PG&E's retail service territory, if such a value may be determined by reference to verifiable and publicly available sources, or (b) $30/MWh, if the average market price for Green Attributes cannot be determined as provided in subsection (a). With respect to the determination of value in subsection (a) above, each of the Parties acknowledges that the REC Value is intended to represent the economic value of the Green Attributes associated with the generation of Product from the Project and that these Green Attributes constitute a requirement for California Renewables Portfolio Standard eligibility.
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Examples of REC Value in a sentence

  • The net REC value is shared equally between the CCCSWA and the District, resulting in a REC Value to CCCSWA of 50% of the net REC value or $17.17/MWh.

  • In the event the Mechanical Availability in any Contract Year is less than the Guaranteed Availability, Proposer shall pay COP liquidated damages equal to the sum of the [Average Energy Value and] the [Average REC Value] for such year, times the COP’s Share of output for such year, times a percentage equal to the Guaranteed Availability minus the Mechanical Availability.

  • The Contract Price for Electrical Output from the Generator, as measured by the meter at the Measuring Point, for second Contract Year through last Contract Year shall be calculated in accordance with the following formula: Tradable REC Value Where, “The Energy Price has been calculated for the On-Peak Period and the Off-Peak Period of each month during the Term and has been derived using the AuroraXMP market price forecast, which is updated quarterly.