Under the terms of the operating and maintenance agreement, dated August 29, 2002, between ICPI, ICLP and the Manager (the "Island O&M Agreement") and the operating and maintenance agreement, dated August 29, 2002, between CECGP, CECLP and the Manager (the "Calgary Energy O&M Agreement") (collectively, the "O&M Agreements"), the Manager operates and maintains the Island Cogeneration Facility and the Calgary Energy Centre for the reimbursement of its costs.
The consolidated financial statements include the accounts of CLP, ICLP, ICPI, CECGP and CECLP.
On August 29, 2002, CECLP and CESCP entered into the Calgary Energy Tolling Agreement which governs the sale of electricity from the Calgary Energy Centre and under which a payment of $27.
CECLP and CESCP entered a tolling agreement whereby the Calgary Energy Centre earns revenue though fixed monthly payments received from CESCP in exchange for providing the full operating capacity of the plant.
Electricity revenue derived from sales pursuant to the Electricity Purchase Agreement (the "Island EPA") dated September 29, 1998, between ICLP and British Columbia Hydro and Power Authority ("BC Hydro") and the Tolling Agreement, between Calpine Energy Services Canada Partnership ("CESCP") and CECLP (the "Calgary Energy Tolling Agreement") is recorded at the time electrical energy is delivered at the rates set out in the Island EPA and, with respect to the Calgary Energy Tolling Agreement, revenue will be recorded monthly based on the fixed monthly charge set forth in the Calgary Energy Tolling Agreement when COD is declared.
9999% partnership interest in CECLP, which owns the Calgary Energy Facility, and all of the outstanding shares of CECGP, the general partner of CECLP and the owner of a 0.
CECLP and CESCP entered a tolling agreement whereby the Calgary Energy Facility earns revenue through fixed monthly payments received from CESCP in exchange for providing the full operating capacity of the plant.