Interpretation

In these Bye-laws, unless the context otherwise requires“the Act” means the Electricity Act as amended from time to time; “ARP” means Annual Review Proceeding; “ATP” means Annual Tariff Period; “Commission” means the Public Utilities Commission established under the Public Utilities Commission Act; CAP. 223. “Cost of Power” means the cost of power purchased in accordance with the terms and conditions of any power purchase agreement approved by the Commission together with the variable and fixed operating costs of generation production of the licensee; 26 Electricity “CPRSA” means the Cost of Power Rate Stabilisation Account to be established in accordance with bye-law 40; “customer” means any person served or entitled to be served by a licensee; “Force Majeure” means any circumstance including but not limited to war, acts of warfare, hostilities, invasion, incursion by armed forces, acts of a hostile army, nation, or enemy, riot, civil commotion, insurrection, flood, fire, storm, lightning, and other Acts of God; “FTP” means full tariff period; “FTRP” means full tariff review proceeding; “interested party” means any person or entity that may be materially affected by the decision of the Commission; “licensee” means any legal person or entity licensed to produce, generate, store, transmit, sell, deliver, or supply electricity to or for the public under section 14 of the Act; CAP. 221. “proposed values” means those values proposed and submitted by the licensee in the course of a FTRP or an ARP as the regulated values for the regulated parameters set out in the Schedules including forecast values for the Cost of Power, recovery of changes in the Cost of Power and cost related to power delivery; “Reference Cost of Power” is the forecast cost of power for each calendar year as determined by the Commission in a FTRP or an ARP after reviewing any submissions made by the licensee; “regulated parameters” means the elements determined in these Bye-laws and used in the mathematical expressions in the methodology for determining the mean electricity rate, electricity tariffs, rates, charges and fees whose values determine the specific form or characteristic of the expression; Electricity 27 “regulated values” means those values determined by the Commission to be the regulated values for the regulated parameters set out in the Schedules, including forecast values for the Cost of Power, recovery of changes in the Cost of Power and cost related to power delivery; “RSA” means any rate stabilisation account established in accordance with Part VI of these Bye-laws; “Schedules” means Schedules I and II to these Bye-laws.