The Power Sale Agreement is a fundamental contract in the Philippine energy sector, used to establish long-term arrangements between power generators and purchasers. This document is essential when establishing new power supply arrangements or renewing existing ones, typically involving substantial power capacity and long-term commitments. It must comply with the Electric Power Industry Reform Act (EPIRA), various ERC regulations, and the Department of Energy's Competitive Selection Process requirements. The agreement includes detailed provisions on technical specifications, pricing mechanisms, operational requirements, and risk allocation, while incorporating specific Philippine regulatory compliance requirements. It's particularly crucial for power projects requiring project financing, as it serves as a key bankability document.
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1. Parties: Identification of the power seller and purchaser, including their legal status and authority to enter into the agreement
2. Background: Context of the agreement, including facility description, relevant licenses, and regulatory framework
3. Definitions: Definitions of technical and legal terms used throughout the agreement
4. Sale and Purchase Obligation: Core obligations of the parties regarding the sale and purchase of electricity
5. Term and Effectiveness: Duration of the agreement, conditions precedent, and effectiveness date
6. Technical Requirements: Specifications of power delivery, including capacity, voltage, and frequency requirements
7. Metering and Testing: Requirements for measuring delivered electricity and testing procedures
8. Pricing and Payment: Tariff structure, payment terms, billing procedures, and payment security
9. Operation and Maintenance: Obligations regarding facility operation and maintenance standards
10. Dispatch and Scheduling: Procedures for scheduling power delivery and dispatch instructions
11. Force Majeure: Definition of force majeure events and their consequences
12. Default and Termination: Events of default, cure periods, and termination rights
13. Dispute Resolution: Procedures for resolving disputes, including arbitration provisions
14. Governing Law: Specification of Philippine law as governing law and relevant jurisdictional matters
15. Miscellaneous: Standard provisions including notices, amendments, and assignment rights
1. Grid Connection: Required when the agreement needs to specify grid connection requirements and responsibilities
2. Renewable Energy Certificates: Include when the power source is renewable and REC trading is relevant
3. Carbon Credits: Include for projects eligible for carbon credits or emissions trading
4. Insurance: Detailed insurance requirements section when not covered in general obligations
5. Step-in Rights: Include when lenders require specific step-in rights provisions
6. Local Community Benefits: Required for projects with specific local community impact or benefit requirements
7. Fuel Supply: Include for thermal power plants where fuel supply arrangements affect power sale obligations
8. Emergency Procedures: Detailed emergency protocols when not covered in operation provisions
1. Technical Specifications: Detailed technical parameters of the generating facility and delivery points
2. Testing Procedures: Detailed procedures for testing and commissioning
3. Tariff and Payment Calculations: Detailed formulas and examples for price calculations
4. Performance Standards: Specific performance requirements and measurement methods
5. Operating Procedures: Detailed procedures for day-to-day operations
6. Form of Performance Security: Template for performance security instruments
7. Interconnection Facilities: Description and specifications of interconnection facilities
8. Metering Specifications: Detailed requirements for metering equipment and procedures
9. Annual Operating Plan: Template and requirements for annual operating plans
10. Emergency Contact Information: List of emergency contacts and communication protocols
Authors
Relevant legal definitions
Clauses
Relevant Industries
Energy & Utilities
Power Generation
Renewable Energy
Industrial Manufacturing
Mining
Infrastructure
Commercial Real Estate
Heavy Industry
Public Utilities
Energy Distribution
Relevant Teams
Legal
Commercial
Operations
Regulatory Affairs
Finance
Risk Management
Technical
Business Development
Energy Trading
Procurement
Project Development
Compliance
Engineering
Corporate Strategy
Treasury
Relevant Roles
Energy Trading Manager
Power Plant Manager
Regulatory Compliance Officer
Commercial Director
Legal Counsel
Chief Financial Officer
Business Development Manager
Operations Director
Risk Manager
Technical Director
Procurement Manager
Energy Sales Manager
Project Finance Manager
Grid Connection Engineer
Regulatory Affairs Director
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