(a) The initial SEU contract shall be for a period of not less than 5 years. Upon the expiration of the initial SEU contract, including any option years, subsequent SEU contracts shall be multiyear contracts of not less than 4 years. If options to extend the SEU contract are included in subsequent SEU contracts, the option periods shall be for not less than 2 years.
(c) The SEU contract shall be performance-based and shall provide financial incentives for the SEU to surpass the performance benchmarks set forth in the SEU contract. The SEU contract shall also provide financial penalties to be applied to the SEU if the SEU fails to meet the required performance benchmarks.
(d) The SEU contract shall require that the SEU energy efficiency programs shall, when taken as a whole, meet the societal benefit test on a contract-term basis.
(e) Each bid shall detail how the contractor proposes to nearly meet, meet, or exceed each performance benchmark. The performance benchmarks shall be set forth in the bid.
(f) The SEU contract shall permit the programs, benchmarks, and level of funding to be changed at any time with the approval of both the SEU and the DOEE. No change to the funding shall allow the Mayor to exceed the SETF funding limits set forth in § 8-1774.10.
(g) The SEU contract shall be revocable if the SEU fails to meet the performance benchmarks of the contract.
(k) The SEU contract shall provide that the SEU shall submit, to the DOEE and Board, a quarterly report detailing expenditures under the contract and performance of SEU programs.