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Simple English definitions for legal terms

FPC clause

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A quick definition of FPC clause:

Term: FPC Clause

Definition: An FPC clause, also known as an area-rate clause, is a provision in a long-term gas contract that allows for an automatic increase in the contract price if any regulatory agency prescribes or allows a higher price on gas sold in the area. This means that if the price of gas goes up in the area, the contract price will also go up.

A more thorough explanation:

Definition: An FPC clause, also known as an area-rate clause, is a provision in a long-term gas contract that allows for an automatic increase in the contract price if any regulatory agency prescribes or allows a higher price on gas sold in the area.

Example: Let's say a gas company signs a long-term contract with a customer to sell gas at a fixed price for the next 10 years. However, if the regulatory agency in the area allows for a higher price on gas, the FPC clause in the contract would permit the gas company to increase the contract price accordingly.

This clause is important for gas companies because it protects them from losing money if the cost of producing and selling gas increases due to regulatory changes. It also ensures that they can continue to provide gas to their customers at a fair price.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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