Topic:"Energy Efficiency Financing" in M13042

- (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.

5.5 Premiums and Incentives The rates payable by NSPI for the purchase of Energy are set forth in this Agreement and, without limitation: - (a) the Seller shall not be entitled to any remuneration which NSPI receives from any of its custom...

AI summary This section outlines the terms regarding premiums and incentives for energy purchases by NSPI. NSPI retains all benefits from reselling energy, including premiums and incentives, and is entitled to renewable energy credits assigned under the agreement.

and verifiable out-of-pocket costs incurred by the Seller. Seller's Termination Costs shall be exclusive of the Seller Claimable Amounts. Seller Termination Election – is defined in Section 16.9 Shortfall Contract Energy – means the shortf...

AI summary The text defines several key terms related to a contract and energy project, including Seller Termination Costs, Shortfall Contract Energy, Shortfall Energy, Site, and the Smart Renewables and Electrification Pathways (SREP) program. These definitions are crucial for understanding obligations and calculations under the agreement.

APPENDIX D - SUMMARIZED STAKEHOLDER FEEDBACK ON PPA DRAFT #1 PPA Section Question Comment Response Consequently, we suggest adding the following at the end of Section 16.9: "f) if Seller has elected to terminate the Agreement, the Seller w...

AI summary Stakeholders provided feedback on PPA Draft #1, particularly regarding Section 16.9, which outlines termination rights if CIB or SREP financing is unavailable. They suggested modifying the section to allow for price adjustments instead of termination and requested clarification on NSPI's role in the termination event.

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.

3.2 Information Sharing by the Procurement Administrator - a) The PA will be responsible for communicating updates on the RFP to Proponents. Updates may include but will not be limited to: - (i) periodic responses to frequently asked quest...

AI summary The Procurement Administrator (PA) is responsible for communicating updates on the Request for Proposal (RFP) to Proponents through the RFP website and email mailing lists. Updates include FAQs, draft revisions, webinar announcements, and Addenda. Interested parties can subscribe to the email list by contacting the PA directly.

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.

5. Force Majeure / Section 11 - Every proponent / Seller needs to assume they will get Investment Tax Credits (ITCs). However, if there is any material change to or termination of the federal ITCs, which is beyond the control of the Seller...

AI summary The text discusses the lack of protection under Force Majeure in the event of changes or termination of federal Investment Tax Credits (ITCs) and recommends amending Section 11 to include such changes as a Force Majeure event.

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 Net Output and Excess Energy under the Agreement, specifying different payment percentages based on the period and circumstances. It also introduces the Early Completion Incentive, which applies if the Scheduled Commercial Operation Date and Commencement Date occur before December 31, 2029.

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.

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.

- (c) The Performance Security shall be in the form of either: - (i) a Letter of Credit or such other credit support from a Person which is in the form and/or issued by a Person that is acceptable to NSPI acting reasonably. In respect of a...

AI summary The Performance Security under the agreement can be provided through a Letter of Credit or a Guarantee from an Eligible Guarantor. The Seller must ensure timely renewal or replacement of these security measures, and NSPI must return the original Guarantee upon delivery of a replacement.