Agenda - 02-03-2009 - 6b - Laserfiche WebLink

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41 to this Paragraph shall be based on a comparison of the Average Allowance Market Prices and the Forecasted Carbon Prices performed pursuant to a methodology (the "Emission Allowance Price Methodology") developed in accordance with the provisions of this Paragraph by the Carbon Price Consultant. No adjustments to the Flare Percentage or the Conversion Percentage shall be made(i)prior to 2015, or(ii) in any month during the Term of this Agreement in which a Cap-and-Trade System has not been enacted under federal legislation in the United States. a. Emission Allowance Price Methodology. Not later than one hundred eighty days (180) before the first month in which . s .jus i'ent is made under this Paragraph 122, the Parties shall direct bon ' - Consultant to develop a methodology meeting criteria mutually • , r .le to the Parties that shall permit the Parties to perform a comparison of the Ave o . i ce Market Prices and the Forecasted Carbon Prices by reference to (i) 4 ._ `'showing the prices at which Emission i r -s were purchased and sold in the regulated carbon market esta. in the '� .ted States under federal legislation enacting a Cap-and- Trade Syste « r ` 1 ormation that the Carbon Price Consultant determines is c F;F $ and reasonable in the carbon consulting industry. The Carbon Price Consul • ., shall document the Parties' agreement on the Emission Allowance Price Methodology. Any Dispute concerning the Emission Allowance Price Methodology shall be submitted to Dispute Resolution in accordance with Article XI of this Agreement. b. Flare and Conversion Payment Adjustments. Beginning in 2015 and continuing through the remaining Term of the Agreement, in any month in which a Cap-and- Trade System has been enacted under federal legislation in the United States, the 36 {00018638.noc 211