1.8 Energy Reform (2024) Act - (a) Reference is made to the Energy Reform (2024) Act which came into effect on April 1, 2025 and pursuant to which certain Laws and Regulations were amended and pursuant to which the More Access to Energy Ac...
AI summary The Energy Reform (2024) Act, effective April 1, 2025, outlines a transition of system operator functions from NSPI to the IESO, including the procurement of Ancillary Services and the enactment of Market Rules and Procedures. This transition may require amendments to the Agreement, with arbitration as a resolution mechanism if agreement cannot be reached.
(b) The Seller shall: - (i) For each day of the Interim Period and the Term, provide to NSPI by 8:30 am Atlantic Prevailing Time of the previous day, an hourly forecast of (i) the number of generators at the Facility that will be available...
AI summary The Seller is required to provide NSPI with hourly forecasts of generator availability and deratings, update forecasts promptly in case of changes, and provide real-time data access. Failure to comply results in a 75% reduction in the applicable rate for Net Output.
cation is made or caused to be made). - (g) The Generator Interconnection Agreement is terminated in accordance with its terms other than for a default of NSPI thereunder. - (h) The Seller ceases Energy production at the Facility for a con...
AI summary This section outlines the conditions under which a Seller may be in default, including termination of the Generator Interconnection Agreement, cessation of energy production for 30 days without reasonable efforts to restore operations, and the untruthfulness of key representations provided by the Seller.