Power generators are turning away from coal for a host
of reasons: In some instances natural gas is cheaper; many states are requiring utilities to generate a certain
portion of electricity from renewable resources; individual cities (and even an entire Canadian province) have decided to stop
purchasing electricity created by burning coal; and new Environmental Protection Agency regulations are making it more expensive and less economical to use coal plants.
«(II) calendar year 2012, in the case
of an
electricity local distribution company that owns, co-owns, or
purchases through a power
purchase agreement (whether directly or through a cooperative arrangement) a substantial
portion of the
electricity generated by a new coal - fueled unit, provided that such company timely informs the Administrator
of its election to use 2012 as its base period.
For the avoidance
of doubt, Gross Revenues shall (A) exclude monies received from any source other than the sale
of electric energy and capacity, including, without limitation, any
of the following: (i) any federal, state, county or local tax benefits, grants or credits or allowances related to, derived from, or granted to the Wind Energy Project or Grantee, including, but not limited to, investment or production tax credits, or property or sales tax exemptions, (ii) proceeds from financing activities, sales, assignments, partial assignments, contracts (other than the power
purchase agreement) or other dispositions
of or related to the Wind Energy Project (such as damages for breach
of contract or liquidated damages for delays in project completion or failures in equipment performance), (iii) amounts received as reimbursements or compensation for wheeling costs or other
electricity transmission or delivery costs, and (iv) any proceeds received by Grantee as a result
of damage or casualty to the Wind Energy Project, or any
portion thereof and (B) include any revenues derived from Grantee's sale
of carbon dioxide trading credits, renewable energy credits or certificates, emissions reduction credits, emissions allowances, green tags, tradable renewable credits, or Green - e ® products, any
of which are allocated to Grantee, if applicable, through its participation in any voluntary registry, association or market - based exchange.