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Title: |
Power Sales Agreement |
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Entities: |
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Date: |
2002 |
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Size: |
Preview shows 10KB of 295KB total |
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Price: |
$50 |
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ID: |
#896751 |
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POWER SALES AGREEMENT
Dated as of June 30, 2000
Between
Aquila Energy Marketing Corporation,
UtiliCorp United Inc.
(Buyer)
and
Elwood Energy III, LLC
(Seller)
<PAGE>
Table of Contents
<TABLE>
<S> <C>
1. DEFINITIONS AND INTERPRETATION..............................................................................1
1.1 Definitions..............................................................................................1
1.2 Interpretation..........................................................................................13
1.3 Legal Representation of Parties.........................................................................14
1.4 Titles and Headings.....................................................................................15
1.5 Order of Precedence.....................................................................................15
2. TERM AND SURVIVAL..........................................................................................15
2.1 Term....................................................................................................15
2.2 Survival................................................................................................15
3. PROJECT IMPLEMENTATION AND ACHIEVEMENT OF COMMERCIAL OPERATIONS............................................16
3.1 Development and Construction............................................................................16
3.2 Conditions to Commercial Operations.....................................................................16
3.3 Late Commercial Operations Date.........................................................................17
3.4 Commissioning and Test Power............................................................................19
4. ELECTRIC ENERGY DELIVERY, DISPATCH AND FORCED OUTAGES......................................................20
4.1 Delivery of Electric Energy.............................................................................20
4.2 Point of Sale...........................................................................................20
4.3 Dispatch Rights of Buyer................................................................................20
4.4 Incremental Energy......................................................................................23
4.5 Forced Outages..........................................................................................24
4.6 Access to Facility......................................................................................26
4.7 Delivery of Replacement Power and Substitute Power......................................................26
4.8 Emergency Conditions....................................................................................27
5. METERING; BILLING; PAYMENT.................................................................................27
5.1 Metering Electricity....................................................................................28
5.2 Adjustment for Inaccurate Meters........................................................................29
5.3 Billing.................................................................................................30
5.4 Payments................................................................................................31
5.5 Offsets.................................................................................................31
5.6 Billing Disputes........................................................................................31
6. OPERATION AND MAINTENANCE OF THE FACILITY..................................................................31
6.1 Standard of Operation...................................................................................31
6.2 Permits and Licenses....................................................................................32
6.3 Sole Remedy.............................................................................................32
6.4 Scheduled Maintenance...................................................................................32
6.5 Compressor Wash.........................................................................................33
6.6 Operating Characteristics...............................................................................33
6.7 Records.................................................................................................34
7. COMPENSATION...............................................................................................34
7.1 Capacity Charge.........................................................................................34
7.2 Energy Charge...........................................................................................36
</TABLE>
i
<PAGE>
<TABLE>
<S> <C>
7.3 Adjustment to Actual Heat Rate for Failure to Meet Guaranteed Heat Rate.................................38
7.4 Start Up Charge.........................................................................................39
7.5 Imbalance Charges.......................................................................................39
7.6 Rates Not Subject to Review.............................................................................40
8. PERFORMANCE TESTS..........................................................................................40
8.1 Test Procedures.........................................................................................40
8.2 Buyer's Right to Retest.................................................................................40
8.3 Seller Right to Retest..................................................................................41
8.4 Conditions for Testing..................................................................................41
8.5 Scheduling of Testing...................................................................................41
9. ANCILLARY SERVICES.........................................................................................41
9.1 Availability of Ancillary Services......................................................................41
9.2 Operational Considerations..............................................................................41
9.3 Future Enhancements.....................................................................................41
10. LIMITATION OF LIABILITY AND EXCLUSIVE REMEDIES.............................................................41
10.1 CONSEQUENTIAL DAMAGES................................................................................41
10.2 SOLE REMEDIES FOR FAILURE TO DELIVER OR RELATED BREACHES.............................................42
10.3 SOLE REMEDY FOR LATE COMMERCIAL OPERATIONS...........................................................42
10.4 SOLE TERMINATION FOR DEFAULT REMEDIES................................................................42
10.5 DIRECT DAMAGES FOR OTHER BREACHES....................................................................42
11. DISAGREEMENTS..............................................................................................43
11.1 Negotiations.........................................................................................43
11.2 Arbitration..........................................................................................43
11.3 Costs................................................................................................44
11.4 Settlement Discussions...............................................................................44
11.5 Preliminary Injunctive Relief........................................................................45
11.6 Obligations to Pay Charges and Perform...............................................................45
12. ASSIGNMENT; PROJECT FINANCING; AND TRANSFER OF UNITS.......................................................45
12.1 Assignment...........................................................................................45
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