Are there any requirements for the Project to self-curtail when the hourly LMP at the pnode applicable to the point of interconnection of the Project is negative?

There are no requirements to self-curtail the Project when the hourly LMP at the pnode applicable to the point of interconnection of the Project is negative. Please note that the “Index Price”, which is the hourly LMP used for purposes of payment under the Indexed REC Contract, is the real-time locational marginal price at the applicable Illinois trading hub (either MISO-IL or PJM-NIHUB) selected by the bidder. The REC Monthly Price Hourly Component is the product of (a) the result obtained by subtracting the Strike Price from the Index Price of such hour and (b) the MWh actual generation of the Project for such hour. The REC Monthly Price for a Vintage month shall be calculated by dividing (a) the sum of all REC Monthly Price Hourly Components in such Vintage month by (b) the MWh actual generation of the Project for such Vintage month, and rounding to the nearest cent. The REC Monthly Price may be either positive or negative. Payment is made from Seller to Buyer if the REC Monthly Price is positive and payment is made from Buyer to Seller if the REC Monthly Price is negative.

Announcements

Indexed REC-38: Are there any requirements for the Project to self-curtail when the hourly LMP at the pnode applicable to the point of interconnection of the Project is negative?