COST OF GAS Clause Samples

COST OF GAS. The cost of gas per dekatherm for the current month shall be determined (to the nearest thousandth of a cent) by the use of the equation below: Cost of Gas = _ x T S Where:' p Total cost of natural gas (processed or unprocessed) vaporized liquid natural gas, synthetic gas, propane-air mixture, landfill gas, or other source of methane gas or any mixture of these gases entering the Seller's system during the current month in dollars. D The cost of gas attributable to all sales made by Seller to Buyers under an interruptible rate or contract where the Buyer has alternative fuel capability and has certified to the Seller the as-fired price of its alternative fuel such that Seller could not supply gas at a price that is competitive and service is provided by Seller under the competitive pricing provisions of the rate or contract. S Total gas entering the Seller's system during the current billing month excluding gas sold under D above times the annual sales factor which will be determined by dividing total annual sales recorded in Accounts 480 through 483 plus distribution gas used in electric generation by the total annual gas entering the Seller's system. The annual sales factor shall be computed for the twelve months ending each March and applied beginning with the first billing cycle of the following May each year. T = Adjustment for revenue related Taxes plus one (1)
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COST OF GAS. The Cost of Gas shall be calculated as follows: CGm = [MACGm or DACGCm] * ▇▇▇▇ Where:
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COST OF GAS. The cost of gas 3er dekatherm for the current month shall be determined (to the nearest thousandth of a cent) by the use of the equation below.
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COST OF GAS. Cost of gas as reported by the utility includes gas purchases, gas withdrawn from storage inventory, gains and losses from commodity ▇▇▇▇▇▇, pipeline demand costs, seasonal demand cost balancing adjustments, regulatory gas cost deferrals, gas reserves costs, and company gas use. The OPUC and WUTC generally require natural gas commodity costs to be billed to customers at the actual cost incurred, or expected to be incurred, by the utility. Customer rates are set each year so that if cost estimates were met we would not earn a profit or incur a loss on gas commodity purchases; however, in Oregon we have an incentive sharing mechanism which has been described under "Regulatory Matters—Rate Mechanisms—Purchased Gas Adjustment" above. In addition to the PGA incentive sharing mechanism, gains and losses from hedge contracts entered into after annual PGA rates are effective for Oregon customers are also required to be shared and therefore may impact net income. Further, we also have a regulatory agreement whereby we earn a rate of return on our investment in the gas reserves acquired under the original agreement with Encana and include gas from our amended gas reserves agreement at a fixed rate of $0.4725 per therm, which are also reflected in utility margin. See "Application of Critical Accounting Policies and Estimates—Accounting for Derivative Instruments and Hedging Activities" below. Cost of gas highlights include: Dollars and therms in millions 2017 2016 2015 Cost of gas $ 325.0 $ 260.6 $ 327.3 Volumes sold (therms) 831 693 660 Average cost of gas (cents per therm) $ 0.39 $ 0.38 $ 0.50 Gain from gas cost incentive sharing 1.2 4.0 3.2 2017 COMPARED TO 2016. Cost of gas increased $64.4 million, or 25%, primarily due to the 20% increase in volumes sold due to colder than average weather in 2017 compared to warmer than average weather in 2016, and customer growth. 2016 COMPARED TO 2015. Cost of gas decreased $66.7 million, or 20%, reflecting lower natural gas prices and resulting in a $19.4 million credit to customers, partially offset by a 5% increase in volume mainly from comparatively colder weather in the first quarter and December 2016. The effect on net income from our gas cost incentive sharing mechanism resulted in a margin gain of $1.2 million, $4.0 million and $3.2 million for 2017, 2016 and 2015, respectively, as actual prices were lower than the estimated prices included in customer rates due to national warmer than average weather, which resulted i...
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COST OF GAS. The cost of gas per dekatherm for the current month shall be determined (to the nearest thousandth of a cent) by the use of the equation below: Cost of Gas = _ x T S Where: V Total cost of natural gas (processed or unprocessed) vaporized liquid natural gas, synthetic gas, propane-air mixture, landfill gas, or other source of methane gas or any mixture of these gases entering the Seller's system during the current month in dollars. D The cost of gas attributable to all sales made by Seller to Buyers under an interruptible rate or contract where the Buyer has alternative fuel capability and has certified to the Seller the as-fired price of its alternative fuel such that Seller could not supply gas at a price that is competitive and service is provided by Seller under the competitive pricing provisions of the rate or contract.
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COST OF GAS. The company’s cost of natural gas includes both fixed and variable components. The company pays the fixed costs or “demand charges” to pipeline companies for system capacity needed to transport and store natural gas. The company pays the variable costs, or the cost of the natural gas commodity itself, to natural gas producers. Variations in the company’s cost of gas expense result
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COST OF GAS. The company’s cost of natural gas includes both fixed and variable components. The company pays the fixed costs or “demand charges” to pipeline companies for system capacity needed to transport and store natural gas. The company pays the variable costs, or the cost of the natural gas commodity itself, to natural gas producers. Variations in the company’s cost of gas expense result from changes in gas sales volumes, the price of the gas purchased and the level of gas costs collected through the operation of firm gas cost recovery mechanisms. Under these regulated recovery mechanisms, the company defers the difference between the firm gas costs it pays and the gas costs recovered from customers. In subsequent periods, the company recovers from, or refunds to,
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Related to COST OF GAS

  • Cost of Bidding 6.1 The bidder shall bear all costs associated with the preparation and submission of his Bid, and the Employer will in no case be responsible and liable for those costs.

  • Cost of Living There will be a cost-of-living allowance calculated on hours worked as follows: An Increase of one (1) cent per hour worked for each rise of .062 points in the Consumer Price Index or a decrease of one (1) cent per hour worked for each drop of .062 points in the Consumer Price Index. When CPI changes would result in a decrease in the total COLA payable, it is agreed and understood that the total COLA payable will be maintained at the level in effect prior to the decrease in CPI in exchange for future offsets. These offsets will take the form of postponing any new COLA generated until such time that the CPI used for any an adjustment date exceeds the CPI that generated the last positive COLA payment. The cost-of-living allowance will be established in accordance with changes in the official Consumer Price Index published by Statistics Canada (2002=100) and hereinafter referred to as the Consumer Price Index which was 112.1 as of June 2007 (May 2007). In no event will a decrease in the Consumer Price Index reduce the contract rates listed in the attached wage schedule outlined in Article 14. The amount of any cost-of-living allowance in effect at any time shall be included in computing overtime pay, jury duty pay and funeral time pay. Index is to be reviewed each quarter commencing January 2014. Revision in cost-of-living allowance will take effect the first of the pay period commencing after Index publication. The continuance of the cost-of-living allowance shall be contingent upon the availability of the official monthly Statistics Canada Consumer Price Index in its present form and calculated on the same basis as the Index published January 25, 2014, unless otherwise agreed upon by the parties. In the event the form or basis of the Index is changed, the parties agree to request said Statistics Canada to continue to furnish, for the term of this agreement, the Index in its present form and calculated on the same basis as the Index published January 25, 2014. Fold in all existing COLA adjustments into wages up to and including adjustment #12 (October 2017).

  • Contract Quantity The Contract Quantity during each Contract Year is the amount set forth in the applicable Contract Year in Section D of the Cover Sheet (“Delivery Term Contract Quantity Schedule”), which amount is inclusive of outages.

  • Cost of Services Except to the extent specified otherwise in the Agreement, all costs of performing the Services are included in the Contract Price and TOMRA shall not be entitled to any further payment in respect thereof.

  • Cost of the Work The sum of all allowable costs necessarily incurred and paid by Contractor in the proper performance of the Work.