Orange County NC Website
Browse       Search
percent (5.3%) for purposes of calculating any adjustments to the Flare <br /> Percentage for the month of February 2015. <br /> d. If there is a positive or negative difference between the Average Allowance <br /> Market Price of an Emissions Allowance for the given month and the Forecasted <br /> Carbon Price for such month, the following adjustment to the Conversion <br /> Percentage for such month shall be made: The Conversion Percentage shall be <br /> increased or decreased by 1.12% for each whole dollar (rounded down to the <br /> nearest whole dollar) that the Average Allowance Market Price for such month is <br /> either above (for increases) or below (for decreases) the Forecasted Carbon Price <br /> for such month; provided, however that the Conversion Percentage for any month <br /> shall not be adjusted in a manner that results in the adjusted Conversion <br /> Percentage equaling a percentage greater than 26.68% or less than 6.52%. For <br /> purposes of calculating adjustments under this Paragraph 122, the Conversion <br /> Percentage shall reset each month to sixteen and six-tenths percent (16.6%). For <br /> the avoidance of ambiguity and by way of example only, if the Conversion <br /> Percentage is adjusted in January 2015 from sixteen and six-tenths percent <br /> (16.6%) to fourteen percent (14.0%), the Conversion Percentage shall reset to <br /> sixteen and six-tenths percent (16.6%) for purposes of calculating any <br /> adjustments to the Conversion Percentage for the month of February 2015. <br /> e. The University shall reflect any adjustments to the Flare and Conversion <br /> Percentages made under this Paragraph 122, including the underlying <br /> calculations, in the Monthly Billing Statement for such month issued to the <br /> 38 <br /> {00018638.DOC 24} <br />