Guaranteed Energy Production. (A) Throughout the Delivery Term, Seller shall be required to provide to Buyer an amount of Delivered Energy plus Deemed Delivered Energy, if any, no less than the Guaranteed Energy Production over two (2) consecutive Contract Years during the Delivery Term (“Performance Measurement Period”). “
Guaranteed Energy Production. Seller shall deliver to Buyer no less than the Guaranteed Energy Production in each Performance Measurement Period. The “Guaranteed Energy Production” means an amount of Energy, as measured in MWh, equal to the total Expected Energy for the applicable Performance Measurement Period multiplied by the applicable percentage, based on technology type: Wind: 75% Geothermal: 90% Small Hydro: 85% The “Performance Measurement Period” shall be each two (2) consecutive Contract Year period during the Delivery Term, except for geothermal, which shall be each Contract Year, all calculated on a rolling basis. For purposes of determining whether Seller has achieved the Guaranteed Energy Production, Seller shall be deemed to have delivered to Buyer (i) any Deemed Delivered Energy and (ii) Energy in the amount it could reasonably have delivered to Buyer but was prevented from delivering to Buyer by reason of Force Majeure Events, System Emergency, and Curtailment Periods (the “Adjusted Energy Production”). If Seller fails to achieve the Guaranteed Energy Production amount in any Performance Measurement Period, Seller shall pay Buyer liquidated damages equal to (a) the difference of the Guaranteed Energy Production less the Adjusted Energy Production, multiplied by (b) the replacement price for the energy and RECs less the Contract Price. No payment shall be due if the calculation yields a negative number.
Guaranteed Energy Production. The Parties agree that if the Project’s technology type, as set forth on the Cover Sheet, is small hydro facility, then this Section 3.1(e)(ii) and definitions provided or referred to hereunder shall not apply to either Party and Section 5.1(b)(v) shall not apply to Seller.
Guaranteed Energy Production. During each Performance Measurement Period, Seller shall deliver to Buyer an amount of Adjusted Energy Production for the Performance Measurement Period, in MWh equal to no less than the Guaranteed Energy Production. If Seller fails to achieve the Guaranteed Energy Production amount in any Performance Measurement Period, Seller shall pay Buyer liquidated damages calculated in accordance with Exhibit G.
Guaranteed Energy Production. During each Performance Measurement Period during the Delivery Term, Seller shall deliver to Buyer an amount of PV Energy, not including any Excess MWh, equal to no less than the Guaranteed Energy Production (as defined below). “
Guaranteed Energy Production. Seller shall deliver to Buyer no less than the Guaranteed Energy Production in each Performance Measurement Period. The “Guaranteed Energy Production” means an amount of Energy, as measured in MWh, equal to the total Expected Energy for the applicable Performance Measurement Period multiplied by the applicable percentage, based on technology type: Wind: 75% Solar: 85% Geothermal: 90% Small Hydro: 85% The “Performance Measurement Period” shall be each two (2) consecutive Contract Year period during the Delivery Term, all calculated on a rolling basis (e.g., Contract Years 1-2, 2-3, 3-4, etc.), except for geothermal, which shall be each Contract Year. For purposes of determining whether Seller has achieved the Guaranteed Energy Production, Seller shall be deemed to have delivered to Buyer (i) any Deemed Delivered Energy and (ii) Energy in the amount it could reasonably have delivered to Buyer but was prevented from delivering to Buyer by reason of Force Majeure Events, System Emergency, and Curtailment Periods (the “Adjusted Energy Production”). If Seller fails to achieve the Guaranteed Energy Production amount in any Performance Measurement Period, Seller shall pay Buyer liquidated damages equal to (a) the difference of the Guaranteed Energy Production less the Adjusted Energy Production, multiplied by (b) the replacement price for the energy and RECs less the Contract Price. No payment shall be due if the calculation yields a negative number.
Guaranteed Energy Production. Throughout the Delivery Term, Seller shall be required to deliver to Buyer no less than the Guaranteed Energy Production (as defined below) in the twenty-four (24) month period immediately preceding the end of each Contract Year commencing at the end of the second Contract Year (“Performance Measurement Period”). “Guaranteed Energy Production” means an amount of Energy, as measured in MWh, equal to one-hundred sixty percent (160%) of the Expected Energy for such period. For purposes of determining whether Seller has achieved the Guaranteed Energy Production, Seller shall be deemed to have delivered to Buyer the Energy in the amount it could reasonably have delivered to Buyer but was prevented from delivering to Buyer by reason of any Force Majeure Events, an Event of Default where Buyer is the Defaulting Party, Curtailment Periods, and Buyer Curtailment Periods in accordance with Exhibit E. 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 E.
Guaranteed Energy Production. Throughout the Delivery Term, Seller shall be required to deliver to Buyer no less than the Guaranteed Energy Production (as defined below) in the twenty-four (24) month period immediately preceding the end of each C... 5.8
Guaranteed Energy Production. With regard to Guaranteed Energy Production, we explicitly reject DESC’s provision for termination if the Facility fails to deliver 85% of the Guaranteed Energy Production in any two consecutive Contract years and hold that this provision shall be eliminated from PPAs. The Independent Consultant’s (“Power Advisory’s”) Report discusses this matter in detail at 60-61. In DESC’s Standard Offer and Form PPA, the Seller estimates the expected annual output of Net Energy for each year of the contract term (“Contract Quantity”). The Guaranteed Energy Production is eighty-five percent (85%) of the Contract Quantity. A Shortfall occurs if the Facility fails to deliver the Guaranteed Energy Production in any particular Contract Year. If there is a Shortfall, the Seller is subject to Performance Liquidated Damages which must be paid within 30 days of receipt of an invoice. The Buyer can terminate the PPA if the Facility fails to deliver eighty-five percent (85%) of the Guaranteed Energy Production in any two consecutive Contract Years. In his direct testimony, Xx. Xxxxxxx asserts that DESC’s proposal is not commercially reasonable, though SBA acknowledges that this contract provision varies widely in the industry. SBA recommends that DESC should adopt the Duke shortfall amounts (i.e., 70%) and DESC should adopt Duke’s approach which is calculated based on a rolling two-year average. Tr. Vol. 2, p. 451.16. In his rebuttal testimony Xx. Xxxxxx states that the Guaranteed Energy Production provision is “purely a commercial matter to address risk arising from a QF’s failure to perform in accordance with the contract.” Tr. Vol. 1, p. 66.20. He goes on to state that the Standard Offer and Form PPA stipulates “that the QF will operate at and maintain an expected performance of 95 percent”, and thus DESC has provided additional flexibility by defining Shortfalls at or below 85 percent. Further, the Seller is in the best position to address such shortfall. Xx. Xxxxxx further says that the termination provision is reasonable because the “QF can, in large measure, control the variables affecting its ability to meet this requirement.” Tr. Vol. 1, p. 66.21. The effect of termination would be that the parties would enter into a new PURPA PPA at new avoided cost rates. Duke’s PPAs do not contain this termination provision. SBA suggests that liquidated damages (“LDs”) should be the Buyer’s sole remedy in the event of a Shortfall. Tr. Vol. 2, p. 453.7. During direct witness examinatio...
Guaranteed Energy Production. (A) Throughout the Delivery Term, Seller shall be required to deliver to Buyer no less than the Guaranteed Energy Production over [two (2) consecutive Contract Years] during the Delivery Term (“Performance Measurement Period”). [Short Term Offers: Performance Measurement Period to be revised based on Delivery Term] “Guaranteed Energy Production” means an amount of Delivered Energy, as measured in MWh, equal to the product of (x) and (y), where (x) is one hundred sixty percent (160%) of the Contract Quantity [Photovoltaic facilities only to use the then-applicable Contact Quantities for 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% * Contract Quantity in MWh) * [(Hrs in Performance Measurement Period – Seller Excuse Hrs) / Hrs in Performance Measurement Period] [Use the following bracketed language for wind facility]
