The Power Sale Agreement is a crucial commercial contract used in the Australian energy market to formalize the relationship between power suppliers and purchasers. It is particularly relevant for transactions involving significant power volumes, whether in the context of renewable energy projects, industrial power supply, or wholesale energy trading. The agreement must align with Australia's National Electricity Law and state-specific regulations, while addressing market-specific requirements such as NEM participation rules and AEMO guidelines. This document typically includes detailed technical specifications, pricing mechanisms, operational procedures, and risk allocation provisions tailored to the Australian regulatory environment and market conditions. It serves as the primary commercial instrument for both traditional and renewable energy projects, providing certainty for both generators and purchasers while ensuring regulatory compliance.
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1. Parties: Identification and details of the power seller and purchaser
2. Background: Context of the agreement, including facility details and purpose of the power sale
3. Definitions and Interpretation: Defined terms and rules of interpretation for the agreement
4. Term and Termination: Duration of the agreement, renewal options, and termination rights
5. Sale and Purchase Obligations: Core obligations regarding the sale and purchase of electricity
6. Pricing and Payment: Price structure, payment terms, invoicing, and adjustment mechanisms
7. Delivery Point and Title: Specification of where electricity is delivered and when title passes
8. Metering and Measurement: Requirements for measuring electricity supplied and consumed
9. Operating Procedures: Day-to-day operational requirements and communications
10. Force Majeure: Events excusing performance and associated procedures
11. Default and Remedies: Events of default and consequences, including cure periods
12. Dispute Resolution: Process for resolving disputes between parties
13. Representations and Warranties: Standard and specific warranties from each party
14. Liability and Indemnities: Risk allocation and liability limitations
15. General Provisions: Standard boilerplate clauses including notices, assignment, and governing law
1. Environmental Attributes: Terms relating to renewable energy certificates or carbon credits, used when power is from renewable sources
2. Connection Requirements: Technical requirements for grid connection, used for direct connection arrangements
3. Demand Response: Terms for reducing consumption during peak periods, used in demand management agreements
4. Change in Law: Mechanisms for dealing with regulatory changes, used in long-term agreements
5. Credit Support: Requirements for financial security, used with parties requiring credit protection
6. Development and Construction: Terms relating to facility construction, used for new generation projects
7. Insurance: Specific insurance requirements, used for high-value or high-risk supplies
1. Schedule 1 - Technical Specifications: Detailed technical parameters of the power supply and facilities
2. Schedule 2 - Pricing Formula: Detailed pricing calculations and adjustment mechanisms
3. Schedule 3 - Operating Procedures: Detailed procedures for day-to-day operations and communications
4. Schedule 4 - Testing and Commissioning: Requirements for initial and ongoing performance testing
5. Schedule 5 - Metering Specifications: Technical requirements for metering equipment and procedures
6. Schedule 6 - Performance Standards: Required performance levels and calculation of liquidated damages
7. Schedule 7 - Form of Performance Security: Template for any required bank guarantees or security
8. Appendix A - Site Description: Details of the generation facility location and connection points
9. Appendix B - Single Line Diagram: Technical diagram showing electrical configuration
10. Appendix C - Contact Details: List of key personnel and contact information for both parties
Relevant legal definitions
Agreed Capacity
AEMO
Assignment
Availability
Billing Period
Business Day
Capacity Charge
Change in Law
Commencement Date
Commercial Operation Date
Connection Point
Contract Capacity
Contract Price
Contract Year
Cure Period
Deemed Generated Energy
Defaulting Party
Delivery Point
Dispatch
Dispute
Due Date
Effective Date
Electrical Output
Emergency
Energy
Energy Charge
Environmental Attributes
Event of Default
Expiry Date
Facility
Force Majeure Event
Generated Energy
Good Industry Practice
Governing Law
Grid
Grid Code
Initial Term
Interconnection Agreement
Interest Rate
Invoice
Large-scale Generation Certificates (LGCs)
Maintenance Schedule
Metering Equipment
Metering Point
Minimum Take
National Electricity Market
National Electricity Rules
Network
Network Operator
Operating Committee
Operating Procedures
Outage
Performance Security
Planned Maintenance
Point of Connection
Power Purchase Price
Power Station
Prudent Operating Practice
Purchase Obligation
Reactive Power
Receiving Party
Renewal Term
Required Commercial Operation Date
Scheduled Maintenance
Security Interest
Seller's Facilities
Supply Period
System Emergency
Take
Technical Specifications
Term
Termination Date
Transmission System
Unplanned Outage
Voltage
AEMO
Assignment
Availability
Billing Period
Business Day
Capacity Charge
Change in Law
Commencement Date
Commercial Operation Date
Connection Point
Contract Capacity
Contract Price
Contract Year
Cure Period
Deemed Generated Energy
Defaulting Party
Delivery Point
Dispatch
Dispute
Due Date
Effective Date
Electrical Output
Emergency
Energy
Energy Charge
Environmental Attributes
Event of Default
Expiry Date
Facility
Force Majeure Event
Generated Energy
Good Industry Practice
Governing Law
Grid
Grid Code
Initial Term
Interconnection Agreement
Interest Rate
Invoice
Large-scale Generation Certificates (LGCs)
Maintenance Schedule
Metering Equipment
Metering Point
Minimum Take
National Electricity Market
National Electricity Rules
Network
Network Operator
Operating Committee
Operating Procedures
Outage
Performance Security
Planned Maintenance
Point of Connection
Power Purchase Price
Power Station
Prudent Operating Practice
Purchase Obligation
Reactive Power
Receiving Party
Renewal Term
Required Commercial Operation Date
Scheduled Maintenance
Security Interest
Seller's Facilities
Supply Period
System Emergency
Take
Technical Specifications
Term
Termination Date
Transmission System
Unplanned Outage
Voltage
Clauses
Interpretation
Definitions
Sale and Purchase Obligations
Term and Termination
Conditions Precedent
Price and Payment
Metering
Billing and Settlement
Connection and Delivery
Operating Procedures
Performance Standards
Testing and Commissioning
Maintenance
Force Majeure
Change in Law
Representations and Warranties
Default and Termination
Liability and Indemnity
Insurance
Credit Support
Assignment and Security
Confidentiality
Dispute Resolution
Notices
Governing Law
Environmental Compliance
Regulatory Compliance
Records and Audit
Health and Safety
Emergency Procedures
Intellectual Property
Taxes and Duties
Anti-corruption
Data Protection
Entire Agreement
Severability
Waiver
Amendments
Counterparts
Third Party Rights
Definitions
Sale and Purchase Obligations
Term and Termination
Conditions Precedent
Price and Payment
Metering
Billing and Settlement
Connection and Delivery
Operating Procedures
Performance Standards
Testing and Commissioning
Maintenance
Force Majeure
Change in Law
Representations and Warranties
Default and Termination
Liability and Indemnity
Insurance
Credit Support
Assignment and Security
Confidentiality
Dispute Resolution
Notices
Governing Law
Environmental Compliance
Regulatory Compliance
Records and Audit
Health and Safety
Emergency Procedures
Intellectual Property
Taxes and Duties
Anti-corruption
Data Protection
Entire Agreement
Severability
Waiver
Amendments
Counterparts
Third Party Rights
Relevant Industries
Energy & Utilities
Mining
Manufacturing
Data Centers & Technology
Industrial Processing
Commercial Real Estate
Renewable Energy
Agriculture
Healthcare
Education
Retail
Relevant Teams
Legal
Commercial
Operations
Risk Management
Procurement
Sustainability
Technical Services
Finance
Regulatory Compliance
Business Development
Energy Trading
Asset Management
Relevant Roles
Energy Trading Manager
Commercial Manager
Legal Counsel
Risk Manager
Operations Director
Procurement Manager
Sustainability Officer
Technical Director
Chief Financial Officer
Contract Manager
Energy Markets Analyst
Regulatory Compliance Officer
Business Development Manager
Power Plant Manager
Energy Portfolio Manager
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