Orange County NC Website
Browse       Search
Price Methodology") developed in accordance with the provisions of this Paragraph by the <br /> Carbon Price Consultant. No adjustments to the Flare Percentage or the Conversion Percentage <br /> shall be made under this Paragraph(i) prior to 2015, or(ii) in any month during the Term of this <br /> Agreement in which a Cap-and-Trade System has not been enacted under federal legislation in <br /> the United States. <br /> a. Emission Allowance Price Methodology. Not later than one hundred eighty days <br /> (180) before the first month in which an adjustment is made under this Paragraph <br /> 122, the Parties shall direct the Carbon Price Consultant to develop a <br /> methodology meeting criteria mutually acceptable to the Parties that shall permit <br /> the Parties to perform a comparison of the Average Allowance Market Prices and <br /> the Forecasted Carbon Prices by reference to (i) data showing the prices at which <br /> Emission Allowances were purchased and sold in the regulated carbon market <br /> established in the United States under federal legislation enacting a Cap-and- <br /> Trade System, and (ii) such other information that the Carbon Price Consultant <br /> determines is customary and reasonable in the carbon consulting industry. The <br /> Carbon Price Consultant shall document the Parties' agreement on the Emission <br /> Allowance Price Methodology. Any Dispute concerning the Emission Allowance <br /> Price Methodology shall be submitted to Dispute Resolution in accordance with <br /> Article XI of this Agreement. <br /> b. Flare and Conversion Payment Adjustments. Beginning in 2015 and continuing <br /> through the remaining Term of the Agreement, in any month in which a Cap-and- <br /> Trade System has been enacted under federal legislation in the United States, the <br /> University shall apply the Emission Allowance Price Methodology to compare the <br /> 36 <br /> (00018638.DOC 24) <br />