2011/09/14 Council Agenda Packet

9 B. Method of Payment. The PUD may, at its sole discretion, either(i) make ICRI payments directly to Cus- tomer, or(ii)use ICRI payments as credits against Customer's electric utility bill. i. If the PUD elects to make direct payments,the PUD shall pay Customer, no later than November 30 after the end of each fiscal year, for the ICRI payments to which it is entitled under RCW 82.16.120 for that fiscal year. ii. If the PUD elects to credit ICRI payments against Customer's electric utility bill, the PUD will cal- culate an annual production credit based on the meter reading or readings made prior to the account- ing date of July 1st, which will be shown on Customer's billing statement, no later than November 30 after the end of each fiscal year, as a credit offsetting the amount of the Customer's electric utility bill. Should the credited amount exceed the amount of the Customer's electric utility bill, the credit will carry forward and apply to future electric utility bills until the credit is fully utilized. iii. Customer shall not be eligible for any ICRI payments for electricity generated prior to July 1, 2005, or after June 30, 2020. C. Proportional Reduction in Payment Amount. Under RCW 82.16.120-.130, the issuing of incentive pay- ments by the PUD is limited by the greater of: (a) one-half percent (0.50%) of the PUD's taxable sales under Washington law or (b) one hundred thousand dollars ($100,000). This limitation applies to the cumulative total of all qualified incentive payments issued by the PUD to all customers in a given fiscal year. Should incentive payments owed by the PUD in a fiscal year exceed this limitation, the PUD will reduce Customer's incentive payments in the same proportion that it reduces all other qualified incentive payments owed in that fiscal year until the limitation is no longer exceeded. Snohomish County PUD Net Metering Agreement Rev.4/2011 16 Reviewed: ALS 6-27-11