The seller is required to sell and deliver the delivery point (s) in accordance with the WSPP agreement and the applicable confirmation agreement. The buyer is required to receive and purchase at the delivery point in accordance with the WSPP agreement and the current confirmation agreement. The right and risk of loss are transferred to the buyer at the place of delivery. The seller guarantees a good title, free of any right to pledge or foreclosure, but opposes any other guarantee, including any guarantee of accessibility or suitability for a particular purpose. The WSPP agreement is a standardized contract for the sale of electricity and physical options. In other words, if the parties to a WSPP transaction do not mutually agree on changes to the WSPP agreement, the terms of the WSPP agreement will be monitored. However, the WSPP agreement provides the parties with the flexibility on the most important terms to amend the agreement through their mutual agreement, which applies to each WSPP transaction, as explained below. In accordance with its terms, the WSPP agreement applies only to transactions between WSPP members. Each regulated vendor (electricity distributor and investor supplier) must submit price reports to FERC (submitted by WSPP) indicating prices and margins for each transaction. The price data is public. Margin data is confidential for a one-year period.
Confirmation contracts of one year or less should not be submitted to FERC. FERC-regulated sellers who enter into confirmation contracts of more than one year must submit these agreements to ferC. Three commodities are defined in the service schedules. A Details Economy Energy Service Plan. The energy is interrupted after notification. The legal provisions for compensation do not apply to Economy Energy Service unless the parties agree. Specific terms and conditions can be negotiated. Service Schedule B Details Unit Commitment Service, which is a sale of a specified unit for a specified period. Unlike force majeure, the unit`s engagement service may be limited on the basis of mutually agreed recall provisions; If all or part of the device is not available Avoid separation of systems in an emergency (provided that prudent alternatives to reduction are exhausted); That the seller respects his public service or public law obligations; due to the unavailability of the transmission service. The agreed injury provision applies to non-delivery or support of Service Schedule B-Strom, unless the parties otherwise agree. The C service calendar contains details of the terms of sale or exchange service.
As Service Schedule B, the determination of damages is applicable to the non-delivery or receipt of electricity. Corporate service may be limited within the agreed recall time frames due to force majeure or for the performance of public service obligations or legal obligations. In the latter case, if the seller interrupts, he will pay damages in accordance with the terms of the WSPP agreement. Finally, the WSPP agreement allows the sale of physically soothed options containing a call option that is the right to purchase Schedule B or C Power service or a put option that is the right to sell electricity under Schedules B or C. 3 service. On June 21, 2007, the Commission opened Section 206 to determine whether the maximum rate of the WSPP agreement for a utility vendor in markets where it was found that that seller had market power or that he probably did not have market power was still fair and reasonable.  The Commission has limited the investigation to: (1) the adequacy and adequacy of cost-based ceilings for the coordination of energy sales by state-owned distribution companies that are or are presumed to be powerful in the market; and (2) if existing WSPP agreement rates are unfair and inappropriate for these sellers, how should the Commission set a fair and appropriate rate?