Monthly Capacity Payment. The Monthly Capacity Payment for each month of the Delivery Period shall be determined as follows: MCPm = CCm x CR x SFm x EAFm x RTERFm Where: MCPm is the Monthly Capacity Payment expressed in Dollars for month m of the Delivery Period. If month m is less than a full calendar month, then the Monthly Capacity Payment for such month shall be prorated based on the number of days of the Delivery Period during such month. CCm is the Contract Capacity in effect during month m, expressed in kWAC, rounded to the nearest 100 kWAC. If the Contract Capacity changes during such month, then the Monthly Capacity Payment for such month shall be prorated based on the applicable Contract Capacity before such change and the applicable Contract Capacity from and after such change. CR is the Capacity Rate expressed in Dollars per kWAC-year, CR = $[XXX]/kWAC-year SFm is the Monthly Shaping Factor for the applicable month m, as set forth in the following table: January 6.7 February 5.0 March 5.0 April 5.8 May 6.3 June 8.3 July 15.8 August 17.5 September 11.7 October 5.8 November 5.8 December 6.3 Notwithstanding the foregoing, Buyer may modify the Monthly Shaping Factors by providing Notice to Seller of its modifications no later than ninety (90) days prior to the start of the next Contract Year; provided, however, the sum of the twelve (12) Monthly Shaping Factors in any Contract Year must equal one hundred percent (100%); provided further Buyer’s right to modify the Monthly Shaping Factor shall not apply to the final Contract Year. EAFm or the “Equivalent Availability Factor” for month m is the equivalent availability factor computed as follows: EAFm = Where: p is the number of hours in month m. i is the hour in month m. Availabilityi is the lesser of the following, for hour i:
Appears in 3 contracts
Sources: Energy Storage Power Purchase Agreement, Energy Storage Power Purchase Agreement, Energy Storage Power Purchase Agreement