The Master Power Purchase And Sale Agreement serves as the primary contractual framework for parties engaging in multiple electricity trading transactions in the Canadian market. This agreement is essential when parties anticipate ongoing power trading relationships rather than one-off transactions, providing efficiency by establishing standard terms that apply to all subsequent trades. It addresses crucial aspects such as credit requirements, trading procedures, delivery obligations, and force majeure events, while ensuring compliance with both federal and provincial energy regulations. The agreement is particularly relevant in today's evolving energy landscape, where power trading plays a vital role in grid reliability and renewable energy integration. It includes provisions for both physical and financial power transactions, environmental attributes, and can be customized to address specific provincial market requirements.
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1. Parties: Identification of the contracting parties and their legal status
2. Background: Context of the agreement and relationship between the parties
3. Definitions: Defined terms used throughout the agreement
4. Transaction Procedures: Process for entering into power purchase transactions, including confirmation procedures
5. Obligations and Deliveries: Core obligations regarding power delivery and receipt
6. Transmission and Scheduling: Requirements for transmission arrangements and scheduling of power deliveries
7. Force Majeure: Events excusing performance and associated procedures
8. Remedies for Failure to Deliver/Receive: Consequences and compensation for non-performance
9. Payment and Netting: Billing, payment terms, and netting arrangements
10. Credit and Security: Credit support requirements and security arrangements
11. Representations and Warranties: Standard and power-industry specific representations
12. Events of Default: Circumstances constituting default and consequences
13. Termination: Termination rights, processes, and consequences
14. Dispute Resolution: Procedures for resolving disputes
15. Confidentiality: Protection of confidential information
16. General Provisions: Standard boilerplate provisions including governing law, notices, etc.
1. Environmental Attributes: Provisions dealing with renewable energy credits or other environmental attributes, used when trading renewable power
2. Capacity: Specific provisions for capacity trading, included when capacity products are part of the trading relationship
3. Operating Committee: Establishment of joint committee for operational decisions, used in complex long-term arrangements
4. Development and Construction: Provisions regarding new facility construction, included when agreement covers power from facilities yet to be built
5. Insurance: Specific insurance requirements, typically included for physical power delivery arrangements
6. Indigenous Rights: Provisions addressing Indigenous rights and consultation requirements, relevant for projects on or affecting Indigenous lands
7. Carbon Credits and Emissions: Allocation of carbon credits and emissions obligations, included when relevant to the trading relationship
1. Schedule A - Product Specifications: Detailed specifications of power products that can be traded
2. Schedule B - Election Sheet: Party-specific elections and modifications to standard terms
3. Schedule C - Transaction Confirmation Form: Standard form for confirming individual transactions
4. Schedule D - Pricing and Settlement: Detailed pricing mechanisms and settlement procedures
5. Schedule E - Credit Support: Forms of credit support and detailed credit terms
6. Schedule F - Contact Information: Key contacts and notice information for both parties
7. Schedule G - Authorized Traders: List of personnel authorized to conduct transactions
8. Appendix 1 - Standard Terms and Conditions: Detailed terms and conditions referenced in main agreement
9. Appendix 2 - Form of Guarantee: Standard form of parent company or third-party guarantee
10. Appendix 3 - Operating Procedures: Detailed procedures for day-to-day operations and scheduling
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