Common use of Performance Payment Clause in Contracts

Performance Payment. Refers to payments made to Applicant based on the kWh of Load Relief provided by an Aggregation during a Term-DLM or Auto-DLM Event, which will be calculated at a dollar amount equal to $1/kWh multiplied by the average hourly kWh of Load Relief provided by an Aggregation during an Event multiplied by the number of Event hours. For Test Events, the kWh of Load Relief used to calculate Performance Payments will not exceed the product of the Aggregation’s Portfolio Quantity and the length of the Test Event. (As more particularly provided for by Section XII hereof, Performance Payments will not be made under Term-DLM or Auto-DLM if service is taken as part of a Con Edison “Rider R Tariff” program).