Generation Conversion — Dollar Amount. An electric utility shall convert an eligible customer-generator’s net excess generation to a dollar amount according to this regulation. Conversion Calculation. Except as provided in §C of this regulation, an electric company shall convert net excess generation from kilowatt-hours to dollars by multiplying the net excess generation by the generation or commodity portion of the rate that the eligible customer-generator would have been charged by the electric company averaged over the previous 12-month period ending with the billing cycle that is complete immediately prior to the end of April. For customers served by an electricity supplier, the utility shall convert net excess generation in the same manner as described in §B(1) of this regulation except that the dollar value of the net excess generation shall be equal to the generation or commodity rate that the customer would have been charged by the electricity supplier multiplied by the number of kilowatt-hours of net excess generation. Cooperative Electric Company — Conversion Calculation. When net energy metering is provided by a cooperative electric company that serves a population of less than 250,000 in its distribution territory, the eligible customer-generator may choose to be paid for the dollar value of net excess generation remaining at the end of each month instead of at the end of the accrual period specified in §F of this regulation. If an eligible customer-generator chooses to be paid for the dollar value of net excess generation remaining at the end of each month: The customer-generator may accrue net excess generation on a monthly basis; The dollar value of the net excess generation shall be equal to the generation or commodity portion of the rate that the eligible customer-generator would have been charged by the electric company for the previous month multiplied by the number of kilowatt-hours of excess generation; and On or before 30 days after the end of each month, the electric cooperative shall pay the eligible customer-generator for the dollar value of net excess generation remaining at the end of the previous month. Net Excess Generation — Carry Forward. An electric company shall carry forward accrued net excess generation on a customer’s bill until the net excess generation has been used by the customer or the electric company has paid the customer for the credit under §F of this regulation. Time-Varying Rates—Carry Forward. For customers on a time-varying rate, an electric company may calculate net excess generation separately for each applicable rate period during a billing cycle. An electric company may carry forward net excess generation separately for each rate period until the net excess generation has been used by the customer or the electric company has paid the customer for the credit under §F of this regulation. Payment for Generator Credits. On or before 30 days after the billing cycle that is complete immediately prior to the end of April of each year, the electric company shall pay each eligible customer-generator for the dollar value of any accrued net excess generation remaining at the end of previous 12-month period ending with the billing cycle that is complete immediately prior to the end of April. On the closure of a net energy metering account of an eligible customer-generator, an electric company shall pay an eligible customer-generator the dollar value of the net excess generation on their account within 15 days.