Common use of Term; Renewal Clause in Contracts

Term; Renewal. If your electricity supply service is provided at a Fixed Price, the price of electricity under this Agreement shall be fixed for the Fixed Price Period stated on the Contract Summary Disclosure Statement included with this Agreement. The Fixed Price Period shall commence on the Start Date. At the expiration of the Fixed Price Period, this Agreement will automatically continue on a month-to-month basis on the same terms except that the price each month will be NAP’s then-current Variable Rate. NAP will provide you with a renewal notification at least 45 days and no more than 60 days prior to the expiration of any Fixed Price Period (“Renewal Notice”). In the Renewal Notice, NAP will remind you of the existing Fixed Price Period expiration date and will provide information regarding your options to renew or continue on another NAP product. Unless you select another NAP product, terminate or transfers service within 20 days of such notice, your electricity supply with NAP will continue as described herein. If NAP materially changes its terms and conditions other than variable pricing, NAP will notify you of any such change and its effective date. You will have 3 business days from receipt of the first billing statement following such effective date to reject the new terms and conditions and cancel this Agreement (this period is extended to 5 business days following postmarked date when delivered by U.S. Mail). If your electricity supply service is provided at a Variable Rate, your energy will be supplied on a month-to-month basis at the then-current Variable Rate, and either party will have the right to cancel at any, subject to any applicable early termination fee.