✨ Electricity Industry Agreement
Electricity Fee) payable in each calendar year will be reviewed on 1 December of the prior calendar year ("Electricity Fee Review Date") and if applicable increased (but in no circumstances decreased) to reflect changes in the Producer Price Index ("PPI") in accordance with the following formula:
Electricity Fee for relevant calendar year = EF × (A/B)
where:
EF = the Relevant Component of the Electricity Fee being reviewed as at the Electricity Fee Review Date;
A = the PPI for the June Quarter ending most recently before (and in the calendar year of) the Electricity Fee Review Date;
B = the PPI for the March 2010 Quarter;
PPI = Producer Price Index (inputs All Industries (excluding administration, health and education)) (PPIQ.SN8) published by Statistics New Zealand;
and:
(i) if any published PPI is revised by Statistics New Zealand then the revised PPI shall only be applied to invoices issued after the date of such revision; and
(ii) if the PPI ceases to be published (or the basis of its calculation is changed), the parties are to agree upon a substitute index (or an adjustment to the formula to take account of the change in the basis of the calculation) which approximates the purpose and composition of the PPI, and agree the date from which the substitute index will apply. Failing agreement, a substitute index (or adjusted formula) and the time from which it applies is to determined by a single expert in accordance with clause 11.
3.3 Meter installation: If required by Meridian, Genesis shall:
(a) subject to the prior written approval of Genesis as to the design and specifications of the proposed electricity meters (such approval not to be unreasonably withheld or delayed), allow Meridian to install electricity meters at the Pukaki sub-station, and Genesis shall reimburse Meridian for the cost of, and the costs incurred in installing, such meters; or
(b) at Genesis' cost, install electricity meters at the Pukaki sub-station using such metering equipment and installing such equipment in the manner as reasonably directed by Meridian.
For the avoidance of doubt, any meters installed pursuant to this clause 3.2 shall be the property of Genesis.
3.4 Access to Pukaki Substation: Meridian shall at no charge to Genesis, allow Genesis reasonable access to the Pukaki sub-station for the purpose of monitoring, maintaining, operating or upgrading the disconnector and protection systems forming the demarcation and the outgoing 33kV line or any other related equipment owned by Genesis or installing like-for-like replacement equipment, provided that Genesis shall:
(a) give Meridian reasonable prior notice of the date on which it will require access to the Pukaki sub-station; and
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NZ Gazette 2011, No 93
✨ LLM interpretation of page content
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Agreement between Meridian Energy Limited and Genesis Power Limited
(continued from previous page)
🏗️ Infrastructure & Public WorksElectricity Industry Act 2010, Power Stations, Tekapo A, Tekapo B, Ancillary Equipment Fee, Bill Rate, Business Day, Commencement Date, Electricity Fee, GST, Meridian’s Standard Terms and Conditions, Sale and Purchase Agreement, Subsidiary, Summer, Tekapo A Power Station, Tekapo B Power Station, Wind Data, Wind Data Fee, Winter