Agmt 2004 ABAG Power - Laserfiche WebLink

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and will allocate each Account to a rate (Rate Schedule). In addition to the costs identified in the preceding sentence, the Rate Schedule will include an estimated cost for Spot Supply plus ABAG's fees for services rendered under this Agreement. 12. Invoiced Amounts: ABAG will invoice Public Agency, and Public Agency will pay, monthly in advance an amount based on ABAG's estimate of Public Agency's anticipated usage of electricity based on the Rate Schedule for each Account (Invoiced Amounts). 13. Contingency Reserve: Based on the size of the aggregation, ABAG will establish a prudent Contingency Reserve for the purpose of paying contingent transmission and/or distribution charges (e.g. imbalance charges and congestion management charges) (Contingent Charges) plus an amount to cover ABAG's prudent cash flow requirements based on ABAG's reasonable estimates of late or delinquent payments from Participants. Public Agency will pay a portion of the Contingency Reserve in a ratio in which the numerator is the total estimated usage for all its Accounts and the denominator is the total estimated usage for all accounts in the aggregation (Contingency Reserve Surcharge). The timing of the Contingency Reserve Surcharge payment(s) (e.g. up front lump sum or staggered even or uneven monthly amounts) will be determined by ABAG. 14. Credit Reserve: Based on the size of the aggregation, ABAG will establish a Credit Reserve for the purpose of meeting CPUC established credit requirements for ABAG as an ESP. Public Agency will pay a portion of the Credit Reserve in a ratio in which the numerator is the total estimated usage for all its Accounts and the denominator is the total estimated usage for all accounts in the aggregation (Credit Reserve Surcharge). The timing of the Credit Reserve Surcharge payment(s) (e.g, up front lump sum or staggered even or uneven monthly amounts) will be determined by ABAG. 15. Invoices/Actual Charges: For each Account, ABAG will include in each monthly invoice Public Agency the meter cycle, actual usage during the meter cycle, and fees for actual electricity consumed based on the Rate Schedule plus an allocated portion of Contingent Charges incurred, if any, plus any applicable late payment charges (Actual Charges). The invoice will also identify the prior balance, any payments since the previous invoice, cumulative Invoiced Amounts, cumulative Actual Charges, and credit balances as calculated pursuant to Paragraph 17. Contingency Reserve Surcharges and Credit Reserve Surcharges will either be separately invoiced or included in one invoice based on ABAG's decision regarding the timing of such surcharges and its agreement with the billing agent. 16. Payment: Invoices will be directed to and payment is to be made by Public Agency directly to the escrow account designated pursuant to Paragraph 21 of this Agreement. Payment of the Invoiced Amount is due immediately upon receipt of the invoice. Late payment charges at the rate of one and a half percent (1.5%) per month calculated daily on the outstanding balance will be imposed commencing on the thirty-first (31st) day after the mailing date of the invoice. Late payment charges may, at ABAG's sole discretion, be debited against Public Agency's Credit Account as defined in Paragraph 17. 17. Credit Account: For each invoice, ABAG will calculate (a) the difference between the Invoiced Amount and the Actual Charges for the meter cycle, and (b) the difference between the cumulative total of the Invoiced Amounts and the cumulative total of Actual Charges (Credit Account). Public Agency recognizes that the Credit Account is a calculation of payments, credits, debits and charges made pursuant to this Agreement and that ABAG will not be required to establish actual separate fund accounts with monies on behalf of, or in the name of Public Agency. Unless the parties otherwise agree, ABAG will refund to Public Agency an amount equal to the Credit Account plus a portion of interest earned on all Wind Up Agreement - Attachment AAttachment A