Terms Used In Texas Utilities Code 35.064
- Contract: A legal written agreement that becomes binding when signed.
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
The commission shall certify an agreement submitted under Section 35.062 if the agreement:
(1) provides for payments over the contract term that are equal to or less than the electric utility’s avoided costs, as established by the commission and in effect at the time the agreement was signed; and
(2) provides the electric utility the opportunity to acquire the cogeneration or small-power production installation before the installation is offered to another purchaser or provides other sufficient assurance that the electric utility will be provided with a comparable supply of electricity, if the qualifying facility ceases to operate the installation.