The Spinning Reserve Capacity Payment under clause 7 of the TPA is payable only in relation to Slices that Western Power has nominated to be held as Spinning Reserve Slices, not in relation to all Slices deemed 'Available for Spinning'. Since no nominations were ever made, no liability arose. The case illustrates that where a contract uses defined terms drawn from a regulatory framework, those terms may bear a different meaning in the contract than in the framework, and the court will prefer the construction that accords with the commercial purpose of the provision.
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