A Power Sales Agreement is essential for establishing long-term power supply arrangements in Hong Kong's regulated electricity market. This document is typically used when a power generator or supplier agrees to sell electricity to a significant commercial or industrial consumer, or in some cases, to another utility. The agreement must comply with Hong Kong's Electricity Ordinance and the Scheme of Control Agreements that govern the territory's electricity sector. It contains detailed provisions covering technical specifications, pricing structures, delivery points, metering requirements, and performance standards. The document also addresses Hong Kong-specific regulatory requirements, environmental compliance, and safety standards. Power Sales Agreements are particularly crucial for businesses with substantial power consumption needs or those requiring guaranteed power supply arrangements. The agreement's structure reflects the unique characteristics of Hong Kong's electricity market, where supply is dominated by two main power companies operating under regulated schemes.
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1. Parties: Identification of the power supplier and purchaser, including registration details
2. Background: Context of the agreement, including facility details and purpose of the power supply arrangement
3. Definitions and Interpretation: Definitions of technical and legal terms, rules of interpretation
4. Term and Conditions Precedent: Duration of agreement, renewal provisions, and conditions that must be satisfied before the agreement becomes effective
5. Supply Obligations: Core obligations regarding power supply, including quantity, quality, and reliability requirements
6. Connection and Delivery Point: Specifications of where and how power will be delivered and measured
7. Metering and Testing: Requirements for measuring supplied power and testing procedures
8. Pricing and Payment: Tariff structure, billing procedures, and payment terms
9. Operating Procedures: Day-to-day operational requirements and protocols
10. Maintenance and Outages: Planned maintenance procedures and handling of unexpected outages
11. Force Majeure: Events excusing performance and related procedures
12. Representations and Warranties: Standard and specific warranties regarding capacity to contract and perform
13. Liability and Indemnification: Risk allocation between parties and indemnification obligations
14. Insurance: Required insurance coverage for both parties
15. Default and Termination: Events of default, cure periods, and termination rights
16. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law
17. Confidentiality: Protection of confidential information
18. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment
1. Construction and Commissioning: Required when new power generation or transmission facilities need to be constructed
2. Renewable Energy Requirements: Specific provisions for renewable energy sources and related certificates
3. Carbon Credits and Environmental Attributes: Allocation of environmental benefits and obligations when relevant
4. Grid Connection Requirements: Detailed grid connection terms when power supplier is responsible for grid connection
5. Security Arrangements: Requirements for performance bonds or other security when required by circumstances
6. Change in Law Provisions: Detailed provisions for handling regulatory changes when significant regulatory evolution is expected
7. Step-in Rights: Rights of lenders or other parties to take over operations in specific circumstances
8. Interface Provisions: Required when multiple contractors or operators are involved in the power supply chain
1. Technical Specifications: Detailed technical requirements for power supply, including voltage, frequency, and quality parameters
2. Testing Procedures: Detailed procedures for testing and commissioning
3. Metering Specifications: Technical requirements for metering equipment and procedures
4. Pricing Formula and Adjustments: Detailed pricing calculations, including adjustment mechanisms
5. Operating Procedures Manual: Detailed operational procedures and protocols
6. Site Description and Layout: Details of facility location and connection points
7. Performance Standards: Detailed performance requirements and measurement methods
8. Form of Performance Security: Template for any required performance bonds or guarantees
9. Emergency Procedures: Detailed procedures for handling emergency situations
10. Contact Details: List of key personnel and contact information for both parties
Authors
Relevant legal definitions
Clauses
Relevant Industries
Energy & Utilities
Manufacturing
Data Centers
Real Estate & Construction
Mining & Resources
Healthcare
Industrial Processing
Telecommunications
Transportation & Logistics
Retail & Commercial
Relevant Teams
Legal
Procurement
Operations
Finance
Risk & Compliance
Technical Services
Environmental & Sustainability
Commercial
Facilities Management
Project Management
Contract Administration
Energy Trading
Regulatory Affairs
Relevant Roles
Chief Legal Officer
Energy Procurement Manager
Commercial Director
Facilities Manager
Chief Technical Officer
Legal Counsel
Risk Manager
Operations Director
Compliance Officer
Chief Financial Officer
Sustainability Manager
Project Manager
Contract Manager
Energy Trading Manager
Technical Operations Manager
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