The Flexible Power Purchase Agreement (FPPA) is designed for use in the Danish energy market where corporate buyers seek to procure electricity directly from generators while maintaining pricing flexibility. This document is particularly relevant in scenarios where fixed-price structures may not be optimal due to market volatility or specific risk management strategies. The FPPA includes comprehensive provisions for pricing mechanisms, delivery obligations, trading arrangements, and risk allocation, all aligned with Danish regulatory requirements. It is suitable for both existing generating facilities and new development projects, particularly in the renewable energy sector. The agreement incorporates necessary elements to comply with Danish energy law while providing flexibility for parties to adapt to changing market conditions and energy needs.
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Key Requirements PROMPT example:
Flexible Power Purchase Agreement
I need a Flexible Power Purchase Agreement for a new 50MW solar project in Denmark, starting commercial operations in March 2025, with specific provisions for green certificates and sustainability reporting requirements.
1. Parties: Identification of the contracting parties including full legal names, registration numbers, and addresses
2. Background: Context of the agreement, including facility details and parties' objectives
3. Definitions: Detailed definitions of technical, commercial, and legal terms used throughout the agreement
4. Term and Termination: Duration of the agreement, conditions for renewal, and termination rights
5. Supply Obligations: Seller's obligations regarding electricity delivery and buyer's purchase obligations
6. Pricing and Payment: Flexible pricing mechanism, payment terms, invoicing, and settlement procedures
7. Metering and Documentation: Requirements for measuring delivered electricity and maintaining records
8. Trading and Scheduling: Procedures for electricity trading, nominations, and scheduling
9. Balance Responsibility: Allocation of balancing responsibilities and associated costs
10. Force Majeure: Definition and consequences of force majeure events
11. Warranties and Representations: Standard and specific warranties from both parties
12. Liability and Indemnification: Limitations of liability and indemnification obligations
13. Confidentiality: Obligations regarding confidential information
14. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law
15. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment
1. Development and Construction: Required if the agreement relates to a facility yet to be constructed
2. Sustainability Requirements: Include if specific green energy or sustainability certifications are required
3. Credit Support: Include if parties require specific credit support or guarantees
4. Insurance: Detailed insurance requirements if not covered in general obligations
5. Change in Law: Specific provisions for handling regulatory changes affecting the agreement
6. Grid Connection: Include if specific grid connection obligations need to be addressed
7. Performance Guarantees: Include if specific performance levels need to be guaranteed
8. Carbon Benefits: Include if carbon credits or other environmental attributes are relevant
1. Facility Technical Specifications: Detailed technical description of the generation facility
2. Pricing Mechanism: Detailed calculation methodologies for flexible pricing
3. Operating Procedures: Detailed procedures for day-to-day operations and communications
4. Metering Specifications: Technical requirements for metering equipment and procedures
5. Form of Guarantees: Template forms for any required guarantees or credit support
6. Trading Procedures: Detailed procedures for electricity trading and nominations
7. Performance Standards: Specific performance requirements and calculation methods
8. Contact Details: List of key contacts and authorized representatives
9. Form of Direct Agreement: Template for direct agreements with financiers if required
Authors
Relevant legal definitions
Actual Generation
Affiliate
Agreement
Alternative Market Reference Price
Annual Contract Quantity
Authorizations
Balance Responsible Party
Balancing Costs
Banking Day
Base Load
Billing Period
Business Day
Buyer
Change in Law
Commercial Operation Date
Confidential Information
Contract Price
Credit Support
Delivery Point
Effective Date
Electricity
Energy Attributes
Environmental Attributes
Event of Default
Facility
Fixed Price Component
Flexible Price Component
Force Majeure Event
Good Industry Practice
Governmental Authority
Grid
Grid Connection Agreement
Grid Operator
Guarantor
Interconnection Point
Market Operator
Market Price
Maximum Capacity
Metering Device
Minimum Quantity
Monthly Settlement
Nord Pool
Operating Procedures
Planned Maintenance
Point of Delivery
Price Adjustment Mechanism
Price Floor
Price Reference Period
Pricing Formula
Production Forecast
Prudent Operating Practice
Renewable Energy Certificates
Replacement Energy
Scheduled Maintenance
Seller
Settlement Period
Start Date
System Operator
Term
Termination Date
Trading Interval
Trading Period
Transmission System
Variable Generation Component
Affiliate
Agreement
Alternative Market Reference Price
Annual Contract Quantity
Authorizations
Balance Responsible Party
Balancing Costs
Banking Day
Base Load
Billing Period
Business Day
Buyer
Change in Law
Commercial Operation Date
Confidential Information
Contract Price
Credit Support
Delivery Point
Effective Date
Electricity
Energy Attributes
Environmental Attributes
Event of Default
Facility
Fixed Price Component
Flexible Price Component
Force Majeure Event
Good Industry Practice
Governmental Authority
Grid
Grid Connection Agreement
Grid Operator
Guarantor
Interconnection Point
Market Operator
Market Price
Maximum Capacity
Metering Device
Minimum Quantity
Monthly Settlement
Nord Pool
Operating Procedures
Planned Maintenance
Point of Delivery
Price Adjustment Mechanism
Price Floor
Price Reference Period
Pricing Formula
Production Forecast
Prudent Operating Practice
Renewable Energy Certificates
Replacement Energy
Scheduled Maintenance
Seller
Settlement Period
Start Date
System Operator
Term
Termination Date
Trading Interval
Trading Period
Transmission System
Variable Generation Component
Clauses
Interpretation
Conditions Precedent
Term and Duration
Supply Obligations
Delivery
Price and Payment
Flexible Pricing Mechanism
Trading Arrangements
Metering
Scheduling
Balance Responsibility
Title and Risk
Credit Support
Force Majeure
Change in Law
Representations and Warranties
Covenants
Events of Default
Termination
Liability and Indemnification
Insurance
Assignment
Confidentiality
Notices
Dispute Resolution
Governing Law
Anti-Corruption
Data Protection
Entire Agreement
Amendments
Severability
Grid Connection
Environmental Attributes
Performance Standards
Maintenance
Emergency Procedures
Record Keeping
Market Communications
Renewable Energy Certificates
Tax
Sustainability Requirements
Conditions Precedent
Term and Duration
Supply Obligations
Delivery
Price and Payment
Flexible Pricing Mechanism
Trading Arrangements
Metering
Scheduling
Balance Responsibility
Title and Risk
Credit Support
Force Majeure
Change in Law
Representations and Warranties
Covenants
Events of Default
Termination
Liability and Indemnification
Insurance
Assignment
Confidentiality
Notices
Dispute Resolution
Governing Law
Anti-Corruption
Data Protection
Entire Agreement
Amendments
Severability
Grid Connection
Environmental Attributes
Performance Standards
Maintenance
Emergency Procedures
Record Keeping
Market Communications
Renewable Energy Certificates
Tax
Sustainability Requirements
Relevant Industries
Renewable Energy
Manufacturing
Data Centers
Industrial Production
Retail
Technology
Banking and Finance
Energy Trading
Utilities
Green Technology
Relevant Teams
Legal
Procurement
Sustainability
Finance
Risk Management
Operations
Trading
Commercial
Environmental Compliance
Strategy
Relevant Roles
Energy Procurement Manager
Sustainability Director
Chief Financial Officer
Legal Counsel
Energy Trading Manager
Risk Manager
Commercial Director
Head of Power Purchase
Renewable Energy Developer
Corporate Strategy Director
Environmental Compliance Manager
Energy Operations Manager
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