Utility cost savings

How is Utility cost savings defined in a legal contract?

• Utility cost savings means long-term reduction of utility expenses due to equipment installed, modified, or services performed by a certified energy service provider. Short-term cost savings like personnel costs are not included. Seen in 52 SEC filings
• Utility cost savings means the difference between the utility costs after the installation of utility cost-saving measures and the baseline utility costs after baseline adjustments have been made. Seen in 13 SEC filings
• Utility cost savings means reduction of utility expenses through installation or modification of equipment or services provided by a certified energy service provider. Seen in 10 SEC filings
• Utility cost savings means the amounts saved from the purchase of electricity. Seen in 4 SEC filings
• Utility cost savings means the savings accrued by a government unit from the purchase of energy or water that directly result from implemented energy or water conservation measures. Seen in 4 SEC filings
• Utility cost savings means the difference between the utility costs under the pre-contract conditions and the utility costs after the changes have been made under the contract. The savings are calculated in comparison to an established baseline of utility costs. Seen in 2 SEC filings

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of utility cost savings' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Utility cost savings means long-term reduction in utility expenses due to changes implemented by a certified energy service provider.

Relevant Contract Types

• Energy Service Contract
• Energy Performance Contract
• Utility Supply Contract

Relevant Circumstances

• When a business seeks to reduce its energy consumption by investing in energy efficient equipment or services.
• When a government body is contracting an energy service provider to manage and reduce utility usage.
• During negotiation of terms related to utility consumption and cost savings for energy supply agreements.

Relevant Sectors

• Energy Sector
• Real Estate Sector
• Public Sector

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Genie Definition 2

• Utility cost savings means the difference between baseline utility costs and costs after implementing utility cost-saving measures.

Relevant Contract Types

• Energy Efficiency Contract
• Energy Savings Performance Contract
• Utility Supply Contract

Relevant Circumstances

• When calculating savings for performance-based contracts where payment is made based on the amount of energy saved.
• During the procurement process of energy-saving infrastructure or equipment.
• Within the context of commercial lease agreements where utility costs and savings are shared between landlord and tenant.

Relevant Sectors

• Construction Sector
• Commercial Real Estate
• Public Sector

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