Topic:"Energy Efficiency Budgets" in M13042

of Credit Exhibit ["E"](#page-94-0) - Form of Guarantee Exhibit ["F"](#page-100-0) – Not Used Exhibit ["G"](#page-101-0) – Not Used Exhibit ["H"](#page-102-0) - Calculation of Adjusted Energy Rate Capitalized terms used herein but not othe...

AI summary The document includes exhibits related to credit, a form of guarantee, and a calculation of the adjusted energy rate. It references capitalized terms defined in the General Terms and Conditions and includes a signature page.

5.1 Energy Payment - (a) Subject to, and in accordance with, the terms and conditions of the Agreement: - (i) for Net Output during the Interim Period or Extension Period, NSPI shall pay the Seller the lower of: - (A) 75% of the Incrementa...

AI summary This section outlines the payment terms for energy output under the Agreement, specifying different rates for Net Output and Excess Energy during various periods, including an Early Completion Incentive if the project starts before December 31, 2029. Curtailment payments are delayed for a specified period after the event.

ult, arbitral award and judgement. ( Procurement Administrator – means a person appointed under subsection 4B27(1) of the Electricity Act, to administer the Green Choice Program. 117299862 v23 ) Project – means the Facility and any rights,...

AI summary The text defines key terms related to a project under the Green Choice Program, including the role of the Procurement Administrator, the scope of the Project, and the responsibilities of the Project Lender and related parties.

- (b) NSPI agrees to compensate the Seller for foregone Expected Output resulting from curtailment in accordance with and on the terms and conditions set forth in Section 4E33 of Chapter 2518 of the Electricity Act (or any successor or rep...

AI summary The text outlines NSPI's agreement to compensate the Seller for curtailment of energy output, as defined by the Electricity Act. Compensation is conditional and subject to specific thresholds and exceptions, including unforeseeable emergencies or force majeure events.

5.4 Metering All Facility revenue class metering equipment shall be routinely tested by NSPI. At any time, either Party may request a test of the accuracy of the metering equipment at its own expense. The results of meter calibrations or t...

AI summary This section outlines the procedures for testing and maintaining revenue class metering equipment by NSPI. It specifies that meter accuracy must be within 2% of error limits, and if not, adjustments will be made. Both parties have the right to request tests and be present during meter sealing or unsealing.

before and after default, arbitral award and judgement. Procurement Administrator – means a person appointed under subsection 27(1) of the Electricity Act, to administer the Green Choice Program. Project – means the Facility and any rights...

AI summary The text defines key terms related to the Green Choice Program, including the Procurement Administrator, Project, Project Amendment, Project Description, Project Lender, and Project Lender Agreement, under the Electricity Act.

4.1 Required Sale and Delivery of Energy (a) Subject to, and in accordance with, the terms and conditions of the Agreement, the Seller shall sell and deliver to NSPI and NSPI shall purchase and take delivery at the Delivery Point, the enti...

AI summary The section outlines the Seller's obligation to sell and deliver energy to NSPI, ensuring the Facility meets the Original Energy Bid. The Seller may adjust the bid to between 90% and 100% with notice and a payment for any shortfall, ensuring compliance with contractual obligations.

2.5 Energy Rate and Energy Bid - a) For each Project Configuration, Proposals must include: - (i) a fixed Energy rate (the " Energy Rate ") for the term of the PPA (subject to escalation as defined in the PPA) in $/MWh to two decimal place...

AI summary The document outlines the requirements for Energy Rate and Energy Bid in Project Configurations under the PPA, specifying that proposals must include a fixed Energy rate and a fixed Energy bid reflecting the total energy output at the 50% probability of exceedance.

ions, and Workbook]; - (xii) the Proponent has submitted as part of their Proposal a Financing Plan that satisfies the requirements set out in Section [2.11](#page-11-0) [Prescribed Form: Financing]; - (xiii) the Proponent has submitted as...

AI summary The text outlines mandatory requirements that a proponent must meet in their proposal, including submission of a financing plan, environmental risk assessments, transportation and logistics approaches, and cybersecurity measures. Proposals failing to meet these requirements will be rejected.

Energy Rate Nameplate Capacity Ratio of Energy Rate / Weighted Average of Project $/MWh MW Energy Rates A 60.00 100 0.8 B 62.00 150 0.9 C 70.00 100 1.0 D 120.00 50 1.7 70.75 Weighted Average of Energy Rates:

AI summary The table presents four projects with their respective energy rates, nameplate capacities, and ratios of energy rates to the weighted average of energy rates. The weighted average of energy rates is calculated as 70.75.

New Section 16.9 – Adjustment for Post-Proposal Applicable Tariffs The Minimum Threshold outlined in Section 16.9 b) - Adjustment for Post-Proposal Applicable Tariffs is set at 7.5%. Please be advised that we consider this threshold unreas...

AI summary The document argues that the 7.5% Minimum Threshold in Section 16.9 is unreasonably high, as it fails to adequately protect sellers from potential tariff impacts. It references a study showing that even a 25% steel surtax had an impact below 7.5%, and warns that developers will price in higher risks, leading to increased costs for ratepayers. The document suggests lowering the threshold to 2.5% and cautions against using Ontario’s procurement as a basis for Nova Scotia's threshold.

Early Completion Incentive This is a new 25% Energy Rate premium that ratepayers fund with no corresponding value-formoney test. If Scheduled COD and Commencement Date occur before December 31, 2029, the Energy Rate for all output (excludi...

AI summary The document discusses a 25% Energy Rate premium for early completion of a project, funded by ratepayers without a value-for-money test. The Independent Governor (IG) questions the justification for the premium, noting the lack of cost-benefit analysis and suggesting that an economic analysis should be provided to support the incentive.

11 https://www.novascotia.ca/sites/default/files/documents/1-3582/nova-scotia-clean-power-plan-presentation-en.pdf 22. Early Completion Incentive An economic analysis is needed to quantify the ratepayer cost of the Early Completion Incenti...

AI summary The text discusses the Early Completion Incentive, which aims to meet renewable energy targets while ensuring it is net-positive for ratepayers. It also addresses curtailment compensation, outlining monthly payment processes, and touches on performance security reductions, referencing comparative data from other jurisdictions.

5.4 Metering All Facility revenue class metering equipment shall be routinely tested by NSPI. At any time, either Party may request a test of the accuracy of the metering equipment at its own expense. The results of meter calibrations or t...

AI summary This section outlines the procedures for testing and maintaining revenue class metering equipment, including requirements for calibration, financial adjustments for inaccuracies, and notification protocols between the Parties. NSPI is responsible for ensuring accuracy, and both Parties have rights to be involved in meter sealing and testing.

ership, a joint venture, a trust, a Government Agency or other entity of any kind. Point of Isolation – means the designated disconnect switch that securely isolates the Facility from the System. Post-COD Amount – means the amount of the P...

AI summary The text defines several key terms and concepts related to energy procurement and regulation in Nova Scotia, including legal and financial definitions such as 'Point of Isolation,' 'Post-COD Amount,' and 'Prime Rate,' as well as roles such as the 'Procurement Administrator.' These definitions are essential for understanding contractual and regulatory obligations in the energy sector.

5.4 Metering All Facility revenue class metering equipment shall be routinely tested by NSPI. At any time, either Party may request a test of the accuracy of the metering equipment at its own expense. The results of meter calibrations or t...

AI summary The section outlines procedures for testing and maintaining revenue class metering equipment by NSPI. It specifies that either party may request tests, and outlines the process for handling inaccuracies, including financial adjustments if meter accuracy exceeds a 2% variance.