Common use of Average Mid Clause in Contracts

Average Mid. Broker Bid/Offer Dec- 2122 Jan- 2223 Feb- 2223 Mar- 2223 Apr- 2223 May- 2223 Broker 1 Bid Broker 1 Offer Broker 2 Bid Broker 2 Offer Broker 3 Bid Broker 3 Offer January February March April May June July August September October November December Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 1 On-peak and off-peak volumes will be adjusted monthly. 2 On-peak and off-peak volumes will be adjusted monthly. 3 Forward price (if available). If not available, adjusted historical average price will be used. 4 On-peak price multiplied by the historical off-peak/on-peak ratio. Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Broker Bid/Offer Jun- 2122 Jul- 2122 Aug- 2122 Sep- 2122 Oct- 2122 Nov- 2122 Broker 1 Bid Broker 1 Offer Broker 2 Bid Broker 2 Offer Broker 3 Bid Broker 3 Offer Broker Bid/Offer Dec- 2122 Jan- 2223 Feb- 2223 Mar- 2223 Apr- 2223 May- 2223 Broker 1 Bid Broker 1 Offer Broker 2 Bid Broker 2 Offer Broker 3 Bid Broker 3 Offer

Average Mid. Broker Bid/Offer Dec- 2122 Jan- 2223 Feb- 2223 Mar- 2223 Apr- 2223 May- 2223 Broker 1 Bid Broker 1 Offer Broker 2 Bid Broker 2 Offer Broker 3 Bid Broker 3 Offer January February March April May June July August September October November December On-Peak Volume1 Off-Peak Volume2 On-Peak Price3 Off-Peak Price4 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 1 On-peak and off-peak volumes will be adjusted monthly. 2 On-peak and off-peak volumes will be adjusted monthly. 3 Forward price (if available). If not available, adjusted historical average price will be used. 4 On-peak price multiplied by the historical off-peak/on-peak ratio. Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Broker Bid/Offer Jun- 2122 Jul- 2122 Aug- 2122 Sep- 2122 Oct- 2122 Nov- 2122 Broker 1 Bid Broker 1 Offer Broker 2 Bid Broker 2 Offer Broker 3 Bid Broker 3 Offer Broker Bid/Offer Dec- 2122 Jan- 2223 Feb- 2223 Mar- 2223 Apr- 2223 May- 2223 Broker 1 Bid Broker 1 Offer Broker 2 Bid Broker 2 Offer Broker 3 Bid Broker 3 Offer