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Annex Provisions

AB32 Products Annex

 
The EEI AB32 Products Annex to the EEI Master Power Purchase and Sale Agreement is designed to enable trading between EEI counterparties in compliance products issued or approved by the California Air Resources Board pursuant to the cap and trade regulations under California’s 2006 Global Warming Solutions Act.  
 

RECs Annex

 
The EEI Renewable Energy Certificates (RECs) Annex to the EEI Master Power Purchase and Sale Agreement is designed to enable RECs trading between EEI counterparties. This annex has been in development for several years, as the subcommittee studied and responded to market developments and the needs of EEI Master Agreement party RECs market participants. It has been streamlined to remove certain features that market developments have not required, while adding and enhancing other features in order to maximize utility for potential users.​​​

Collateral Annex

The Collateral Annex sets forth detailed procedures under which each party will provide security under Article 8 of the Master Contract. Specifically, the Collateral Annex describes the conditions under which a party will be required to Transfer Performance Assurance in the form of Cash, a Letter of Credit or other property, as well as the conditions under which a party administers and releases Performance Assurance. When the Collateral Annex is used, it supercedes and replaces Sections 8.1(c), 8.2(c) and 8.3 of the Master Contract. The Collateral Annex has its own Cover Sheet to make various elections, including the Collateral Threshold, Independent Amount, Minimum Transfer Amount, and Rounding Amount that apply to the counterparties to the Master Contract.

Gas Annex

Significant revisions made to the EEI Gas Annex in Version 2.0 include:
 
  1. Additional elections in the Cover Sheet, corresponding to new definitions and provisions incorporated into the body of the Gas Annex:
    - Alternative Spot Price Index
    - Applicability to Outstanding Gas transactions
    - Outstanding Gas Credit Support
    - Timing of Payments
    - Governmental Charges (Taxes)
    - U.S. Customs
  2. Expansion of the Timing of Payments provisions within the Gas Annex to permit payment netting across Gas and Power transactions
  3. Removal of references to the NAESB Base Contract throughout the EEI Gas Annex
  4. An entirely new section of definitions, added directly to the Gas Annex (the existing Gas Annex simply directs users to refer to the NAESB definitions)
  5. In addition, the final document incorporates a Mobile-Sierra provision applicable to Gas Transactions

Coal Annex

This provision provides a standard platform for market participants to purchase and sell coal on the wholesale market, joining already-existing provisions for trading electricity and natural gas.
 
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