Orange County NC Website
Browse       Search
Price Methodolo~y") 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 Tenn of this <br />Agreement in which aCap-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 aCap-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 Payineilt Adjustments. Begiiuling in 2015 and continuing <br />through the remaining Tenn of the Agreement, in any month in which aCap-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 />