Topic:"Power Purchase Agreement" in M12394

WHEREAS: - A. NSPML filed an application with the UARB on January 28, 2013, under the Maritime Link Act , S.N.S. 2012, c. 9 and the Maritime Link Cost Recovery Process Regulations (N.S. Reg. 189/2012); - B. the UARB's decision dated July 2...

AI summary NSPML filed an application with the UARB in 2013 under the Maritime Link Act and related regulations. The UARB approved the Maritime Link with conditions, including access to market-priced Energy from Nalcor. A supplemental decision confirmed that the Initial EAA met these conditions, and the Parties now agree to finalize a definitive Energy Access Agreement.

" Forgivable Event " means any of the following, as applicable: - (a) a requirement by Nalcor or an Affiliate of Nalcor to utilize Energy in order to satisfy NL Native Load; - (b) a Hydrology Event; - (c) Force Majeure; - (d) a Safety Even...

AI summary The text defines key terms such as 'Forgivable Event' and 'Full Commercial Operation' in the context of energy agreements involving Nalcor and Emera. It outlines specific events and conditions that qualify as forgivable events and details the formal agreements and milestones for achieving full commercial operation of energy projects.

1.5 Schedules The following are the Schedules attached to and incorporated by reference in this Agreement, which are deemed to be part hereof: Schedule 1 - Scheduling Protocol Schedule 2 - Nalcor Master Agreement Schedule 3 - Nalcor Master...

AI summary This section outlines the schedules attached to the agreement, including protocols, master agreements, modifications, progress reports, balancing service agreements, assignment agreements, and dispute resolution procedures.

2.1 Nalcor Forecasts - (a) In accordance with the schedule set forth in Section [2.1(b)](#page-18-1) , Nalcor shall provide NSPI with good faith forecasts that specify the quantity of Available Energy that is forecasted to be available for...

AI summary Nalcor is required to provide NSPI with good faith energy forecasts specifying the quantity of Available Energy available for sale over the next 24 months, with constraints on maximum availability, transmission system capabilities, and peak/off-peak energy distribution. Forecasts must be submitted at specific intervals, starting on March 1 of the year the first Contract Year commences, and ending on or before June 1, 2040.

2.2 NSPI Solicitations By no later than June 15 preceding each Contract Year, NSPI may, at its option, issue a competitive market solicitation for the supply of Energy to it during such Contract Year (each, a " NSPI Solicitation "). On the...

AI summary NSPI may issue a competitive market solicitation for energy supply each Contract Year by June 15, providing details to Nalcor and other respondents, including Emera, with 30 days to submit responses. The solicitation specifies energy quantities for peak and off-peak hours and follows pricing bases outlined in Section 2.4.

3.1 Master Power Sale and Purchase Agreement The Master Power Purchase & Sale Agreement, entered into by Nalcor and NSPI on the Effective Date and attached as Schedule 2 (the " Nalcor Master Agreement "), as amended by Schedule 3 , will go...

AI summary The Master Power Purchase & Sale Agreement between Nalcor and NSPI governs all energy transactions, with specific deliveries confirmed on a day-ahead basis according to the Scheduling Protocol. The agreement is attached as Schedule 2 and amended by Schedule 3.

4.1 Energy Availability Commitment - (a) Except as provided for by Sections [4.1(b)](#page-24-3) , [5.5(a)(i)](#page-26-1) and [5.5(a)(ii)](#page-27-2) , Nalcor shall make available to NSPI during the Term an amount of Energy that is no le...

AI summary Nalcor is required to make a minimum amount of energy available to NSPI during the contract term, calculated as 1.2 TWh multiplied by the number of contract years. This obligation may be reduced or waived if Nalcor is unable to fulfill it due to Force Majeure.

(b) Emera Master Agreement (i) By no later than 60 days following the first Variance Trigger Date, Emera and NSPI shall enter into an Edison Electrical Institute standard form Master Power Purchase & Sale Agreement, which will be based on...

AI summary The text outlines the requirements for the Emera Master Agreement, which is a standard form Master Power Purchase & Sale Agreement between Emera and NSPI. It must be entered into within 60 days of the first Variance Trigger Date and is based on the Nalcor Master Agreement, modified by this Agreement. It governs transactions between Emera and NSPI, except those under a PPA.

5.7 Emera Wind with Nalcor Balancing Option - (a) NSPI will have the option, but will not be obligated to, construct or contract wind generation facilities to mitigate some or all of the Variance included in the Emera Variance Amount. NSPI...

AI summary NSPI has the option to construct or contract wind generation facilities to mitigate the Emera Variance Amount, with Emera also having the option to do so if NSPI declines. If a PPA is entered into, the Emera Variance Amounts will be reduced accordingly. Nalcor will not be held responsible for any failure of such wind facilities to supply energy.

7.2 Payment Terms Prescribed by Master Agreements The provisions set out in Article Six ("Payment and Netting") of the Nalcor Master Agreement will govern all payments to be made pursuant to that agreement, including in respect of each tra...

AI summary This section outlines the payment terms governed by master agreements between Nalcor, NSPI, and Emera. It specifies that Article Six of the Nalcor Master Agreement applies to payments related to Nalcor Supplied Energy, while the Emera Master Agreement applies to payments related to Energy sold by Emera to NSPI, with exceptions for transactions governed by a PPA.

8.1 Tax-Related Terms Prescribed by Master Agreements - (a) Nalcor and NSPI Tax Provisions - The provisions set out in Article Nine ("Governmental Charges") of the Nalcor Master Agreement will govern the respective responsibilities and obl...

AI summary This section outlines the tax-related provisions under master agreements between Nalcor and NSPI, as well as Emera and NSPI. These provisions, found in Article Nine of each agreement, dictate the tax responsibilities and obligations of the parties involved in energy transactions, with specific exclusions for PPA-governed transactions between Emera and NSPI.

9.1 Term The term of this Agreement (the " Term ") shall commence on the Effective Date and shall terminate in accordance with Section [9.2](#page-34-0) .

AI summary The term of the agreement begins on the Effective Date and ends as outlined in Section 9.2. This section defines the duration of the agreement.

9.2 Termination of Agreement This Agreement shall terminate on the earliest to occur of any of the following events: - (a) August 31, 2041, or such later date as provided for by Section [3.6(h)](#page-24-4) ; - (b) written agreement of the...

AI summary The agreement will terminate on the earliest of August 31, 2041, a mutual written agreement to terminate, or the termination of the ML-JDA as specified in its terms or by court order or arbitral award.

10.8 No Cross Default For greater certainty, this Agreement does not modify any of the obligations of the Parties pursuant to the Formal Agreements and there shall be no cross-defaults between this Agreement and the Formal Agreements.

AI summary This section clarifies that the Agreement does not alter the obligations under the Formal Agreements and prevents cross-defaults between this Agreement and the Formal Agreements.

15.3 Assignment by NSPI NSPI shall not be entitled to assign all or any portion of its interest in this Agreement, any Claim or any other agreement relating to any of the foregoing without the prior written consent of Nalcor and Emera, whi...

AI summary NSPI is restricted from assigning its interest in the Agreement, any Claim, or related agreements without the prior written consent of Nalcor and Emera, which may be withheld arbitrarily. Any assignment must occur simultaneously with the assignment of the Nalcor Master Agreement to an assignee who receives NSPI's entire interest in it.

ectric utility company territories; " Equivalent Rights " has the meaning set forth in the NBTUA or the MEPCO TRA, as the context requires; " First Term " has the meaning set forth in the NBTUA; " MEPCO Purchase Volumes " means the quantit...

AI summary The text defines key terms and acronyms related to transmission agreements, energy supply, and scheduling intervals between Nalcor and Emera, including references to the NBTUA, MEPCO TRA, and NSTUA agreements.

COVER SHEET This Master Power Purchase and Sale Agreement ("Master Agreement") is made as of the following date: April 13, 2015 ("Effective Date"). The Master Agreement, together with the exhibits, schedules and any written supplements her...

AI summary This document is a Master Power Purchase and Sale Agreement between Nalcor Energy (Party A) and Nova Scotia Power Inc. (Party B), effective April 13, 2015. It outlines the terms and conditions for the agreement, including contact details, legal notices, invoicing, scheduling, and payment procedures.

ontrol area; and (2) Seller has the right on a daily prescheduled basis to designate the Interface where the Product shall be delivered. An "Into" Product shall be subject to the following provisions: - 1. Prescheduling and Notification. S...

AI summary This section outlines the process for prescheduling and delivering 'Into' Products, including the requirement for Seller to notify Buyer of the designated interface and the conditions for Firm Transmission availability, including the timing of requests.

MASTER POWER PURCHASE AND SALE AGREEMENT CONFIRMATION LETTER This confirmation letter shall confirm the Transaction agreed to on, between ("Party A") and ("Party B") regarding the sale/purchase of the Product under the terms and conditions...

AI summary This document outlines a Master Power Purchase and Sale Agreement confirmation letter between two unnamed parties, detailing terms for the sale/purchase of energy products, including delivery points, contract quantities, and pricing. It also references an Energy Access Agreement and includes a page reference from an NSPML 2026 Assessment Application.

he meaning set forth in the commencement of this Agreement [ This assumes that the Agreement will be entered into in the year preceding the In-Service Date of the Alternative Generation Facilities. ]; " Emera " has the meaning set forth in...

AI summary The text defines key terms and agreements related to energy and capacity, including definitions for Emera, Emera Affiliate Assignee, Energy Access Agreement, and Energy and Capacity Agreement, as well as references to legal acts and sections of the agreement.

2.2 Nomination of Energy Flow Rate - (a) Nomination of Energy Flow Rate - In respect of each Balancing Year other than an initial partial Balancing Year, Emera shall advise Nalcor by Notice, on or before October 31 of the year preceding su...

AI summary This section outlines the process for Emera to nominate an energy flow rate for each Balancing Year, specifying that the nominated rate cannot exceed +/- 100 MW. The maximum flow rate is shared between NSPI and Emera if both are entering into Balancing Service Agreements. Failure to nominate results in a default of zero MW.

IN WITNESS WHEREOF , the Parties have executed this Agreement as of the date first written above. Executed and delivered by Nalcor Energy, in the presence of: NALCOR ENERGY By: Name: Title: Name: By: Name: Title: We have authority to bind...

AI summary The document is a Balancing Service Agreement executed by Nalcor Energy and Emera Inc., with placeholders for signatures and authority statements. It is part of the NSPML 2026 Assessment Application and is attached to NSEB IR-26.

he Nova Scotia Block; " Maritime Link Transmission Service Agreements " means the Maritime Link (Emera) Transmission Service Agreement and the Maritime Link (Nalcor) Transmission Service Agreement; " Market Price Equivalent Cost " means th...

AI summary The text defines key terms related to the Maritime Link Transmission Service Agreements, Market Price Equivalent Cost and Energy, Marketing Personnel, and the Muskrat Falls Plant. These definitions are part of the Nova Scotia Block and establish terminology used in transmission service agreements and energy market calculations.

- (b) Energy Before First Commercial Power Prior to First Commercial Power, if the MFP is producing Energy and, if available, Capacity (in this Section, " MFP Preliminary Energy ") and the LIL and LTA are commissioned within the meaning of...

AI summary This section outlines the rules for handling energy produced by the Muskrat Falls Plant (MFP) before the first commercial power date, particularly focusing on the rights and obligations of Nalcor and Emera regarding the disposition of MFP Preliminary Energy and Pre-FCP Surplus Energy after the ML Commercial Operation Date.

8.5 Scheduling Late Deliveries - (a) Nalcor shall deliver to Emera any Block A Undelivered Energy and Compensation Energy it is required to deliver in accordance with the procedures, at the times and, in the manner set out in this Section...

AI summary Section 8.5 outlines procedures for delivering Block A Undelivered Energy and Compensation Energy from Nalcor to Emera. If delivery is not completed by the expiry of the Initial Term, the term is extended until delivery is completed. During this extension, Emera is liable for a pro rata share of ML O&M Costs based on the transmission capacity used.

11.4 Assignment of the Maritime Link (Emera) Transmission Service Agreement Prior to First Commercial Power and thereafter from time to time, Emera shall assign to Nalcor or an Affiliate of Nalcor as directed by Nalcor, by assignment or as...

AI summary This section outlines the assignment of the Maritime Link (Emera) Transmission Service Agreement, specifying that Emera must assign the agreement to Nalcor or its affiliates upon request. The agreement includes conditions for assignment, restrictions on amendment, and the suspension of Nalcor's delivery obligations if the assignment is not in force.