Power Sales Agreement Template for United States

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Key Requirements PROMPT example:

Power Sales Agreement

"Need a Power Sales Agreement for a new 100MW solar facility in Texas, with commercial operation date expected in March 2025, selling to a corporate buyer with specific requirements for renewable energy credits and environmental attributes."

Document background

A Power Sales Agreement serves as the foundational document for power generation projects in the United States, establishing the commercial and operational framework for electricity sales. This contract type is essential for both conventional and renewable energy projects, providing certainty for project financing and operations. The agreement must comply with federal regulations, including FERC requirements, and relevant state laws. PSAs typically include detailed provisions on energy delivery, pricing mechanisms, performance standards, and risk allocation. They are particularly crucial for project financing, as they provide the revenue certainty needed for investment decisions.

Suggested Sections

1. Parties: Identification and details of the power seller and purchaser

2. Background: Context of the agreement, including facility description and purpose

3. Definitions: Key terms used throughout the agreement

4. Sale and Purchase Obligations: Core commitments regarding power delivery and purchase

5. Price and Payment Terms: Pricing structure, billing, and payment provisions

6. Term and Termination: Duration of agreement and termination conditions

7. Operating Requirements: Technical and operational specifications

8. Force Majeure: Provisions for unforeseen circumstances affecting performance

9. Representations and Warranties: Standard representations and warranties from both parties

10. Events of Default: Conditions constituting default and remedies

11. Dispute Resolution: Procedures for resolving disputes between parties

12. Governing Law: Applicable law and jurisdiction

Optional Sections

1. Environmental Attributes: Provisions for renewable energy credits and green attributes (used for renewable energy projects)

2. Development Milestones: Project development timeline and requirements (used for new facility construction)

3. Interconnection: Grid connection requirements (used when seller is responsible for interconnection)

4. Credit Support: Requirements for security deposits or guarantees (used when credit protection is needed)

5. Transmission and Delivery: Specific transmission arrangements and delivery points (used when complex delivery structure)

Suggested Schedules

1. Schedule A - Facility Description: Technical specifications of the generating facility

2. Schedule B - Product Price Schedule: Detailed pricing mechanisms and calculations

3. Schedule C - Operating Procedures: Detailed operational requirements and protocols

4. Schedule D - Performance Security: Forms and requirements for performance security

5. Schedule E - Metering Requirements: Specifications for energy measurement and verification

6. Schedule F - Form of Guaranty: Standard form for parent company guarantee if required

7. Schedule G - Interconnection Details: Technical specifications for grid interconnection

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Utilities
Renewable Energy
Industrial
Commercial

Relevant Teams

Legal
Commercial
Operations
Finance
Risk Management
Regulatory Compliance

Relevant Roles

Energy Trading Manager
Commercial Director
Project Developer
General Counsel
Chief Financial Officer
Energy Regulatory Counsel
Power Plant Manager

Industries

Federal Power Act (FPA): Primary federal law governing the wholesale transmission and sale of electric power, providing regulatory framework for interstate electricity commerce

Public Utility Regulatory Policies Act (PURPA): Federal legislation that encourages small-scale renewable energy development and cogeneration by requiring utilities to buy power from qualifying facilities

Energy Policy Act: Comprehensive energy legislation addressing energy production, efficiency standards, and market regulations in the United States

FERC Regulations: Federal Energy Regulatory Commission rules governing interstate transmission and wholesale electricity sales

NERC Standards: North American Electric Reliability Corporation standards ensuring reliability and security of the bulk power system

State Public Utility Commission Regulations: State-specific rules governing utility operations, rates, and service requirements within state boundaries

State Energy Laws: State-specific legislation including renewable portfolio standards and energy efficiency requirements

State Environmental Regulations: State-level environmental protection requirements affecting power generation and transmission

Federal/State Tax Laws: Tax regulations affecting power generation and sales, including renewable energy credits and incentives

Clean Air Act: Federal law regulating air emissions from stationary and mobile sources, affecting power generation facilities

National Environmental Policy Act (NEPA): Federal law requiring environmental impact assessment for major federal actions affecting the environment

RTO/ISO Market Rules: Regional Transmission Organization and Independent System Operator rules governing wholesale electricity markets and grid operations

Grid Interconnection Requirements: Technical and operational standards for connecting power generation facilities to the electrical grid

Uniform Commercial Code (UCC): Standardized state laws governing commercial transactions, including energy sales contracts

State Contract Law: State-specific laws governing formation and enforcement of contracts, including power sales agreements

Antitrust Laws: Federal and state competition laws preventing monopolistic practices in power markets

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