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Cost of Service Study: means that study performed annually pursuant to paragraph 8.7 <br />of this Agreement. <br />Day: means a 24-hour period from 12:00 midnight to 11:59 p.m. <br />Excess Demand: means the difference between the estimated daily maximum water use <br />and the actual daily maximum water used. <br />Excess Demand Char e: means the charge assessed to PGEN for exceeding the <br />Estimated Day Demand initially established in paragraph 8.4 of this Agreement, and as <br />declared by PGEN as provided in paragraph 8.6 of this Agreement during subsequent <br />Rate Years. <br />Estimated Day Demand: means the estimated daily maximum water use initially <br />established in paragraph 8.4 of this Agreement, and as declared by PGEN as provided in <br />paragraph 8.6 of this Agreement during subsequent Rate Years. <br />Initial Period: means the period commencing on June 1, 2022 and ending at midnight on <br />May 31 of the following year. <br />Month: means a calendar month. <br />O t ion Water means up to an additional Two Hundred Eighty Million gallons (280 MG) of <br />water volume above the Contracted Firm Water, which, combined, may total up to Five <br />Hundred Million gallons (500 MG) of water per Rate Year. <br />Rate Year means the period beginning June 1 of the current year and ending May 31 of <br />each following year until this Agreement expires or is terminated by PGEN giving CITY <br />ninety (90) days' advanced written notice thereof. <br />Reservation Rate: means the rate of thirteen cents ($0.13) per One Thousand (1000) <br />gallons ofwater to be applied each Rate Year to PGEN's designated volume of the Option <br />Water. The reservation rate will be escalated at the beginning of each rate year based <br />on the published Consumer Price Index for All Urban Consumers: Water and Sewer and <br />Trash Collection Services in U.S. City Average (CUSROOOOSEHG). <br />Test Year means historical hydrology data accumulated during each twelve (12) month <br />period ending September 30 of the prior year, adjusted for known and measurable changes. <br />Volumetric Rate: means the dollar amount per One Hundred Cubic Feet applied to <br />PGEN'S metered usage of water. <br />II. <br />Service to be Furnished <br />2 <br />