Common use of Calculating a Combined M2M Settlement Clause in Contracts

Calculating a Combined M2M Settlement. The M2M settlement shall be the sum of the real-time redispatch settlement for each M2M Flowgate and M2MPARSettlement for each interval π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– π‘Žπ‘™π‘™ 𝑁F 𝑀2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’π‘  = (οΏ½ 𝑀2𝑀 πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘š (π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– βˆ’ π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘–)) π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘ = π‘Žπ‘™π‘™ 𝑃𝐽𝑀 𝑀2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’π‘  (οΏ½ 𝑀2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘š (π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– βˆ’ π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘–)) Where: π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M NYISO settlement, defined as a payment from PJM to NYISO when the value is positive, and a payment from the NYISO to PJM when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PJM settlement, defined as a payment from NYISO to PJM when the value is positive, and a payment from the PJM to NYISO when the value is negative for interval i; π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– = Monitoring RTO payment to Non-Monitoring RTO for congestion on M2M Redispatch Flowgate m for interval i; and π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– = Non-Monitoring RTO payment to Monitoring RTO for congestion on M2M Redispatch Flowgate m for interval i. 𝑀2𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– βˆ’ π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– + 𝑀2π‘€π‘ƒπ΄π‘…π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘ 𝑖 Where: 𝑀2𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M settlement, defined as a payment from the NYISO to PJM when the value is positive, and a payment from PJM to the NYISO when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M NYISO settlement, defined as a payment from PJM to NYISO when the value is positive, and a payment from the NYISO to PJM when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PJM settlement, defined as a payment from NYISO to PJM when the value is positive, and a payment from the PJM to NYISO when the value is negative for interval i; 𝑀2π‘€π‘ƒπ΄π‘…π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PAR Settlement across all NY-NJ PARs, defined as a payment from NYISO to PJM when the value is positive, and a payment from PJM to NYISO when the value is negative for interval i. For the purpose of settlements calculations, each interval will be calculated separately and then integrated to an hourly value: 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘β„Ž = οΏ½ 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– 𝑖=1 Where: 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘β„Ž = M2M settlement for hour h; and n = Number of intervals in hour h.

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Calculating a Combined M2M Settlement. The M2M settlement for each M2M Flowgate shall be the sum of the real-time redispatch settlement and Ramapo PARs settlement If NYISO is the Monitoring RTO for each the M2M Flowgate and M2MPARSettlement Flowgate: M2M SettlenentM2M FSowgate ni = ( MonRTO PaynentM2M FSowgate ni β€” Non MonRTO PaynentM2M FSowgate ni + NYPaynent M2M FSowgate ni )Γ— si/3600sec If PJM is the Monitoring RTO for each interval π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– π‘Žπ‘™π‘™ 𝑁F οΏ½the M2M Flowgate: M2M SettlenentM2M FSowgate ni οΏ½2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’π‘  = (οΏ½ 𝑀2𝑀 πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘š (π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– βˆ’ π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘–)) π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘ = π‘ŽοΏ½( MonRTO PaynentM2M FSowgate ni β€” Non MonRTO PaynentM2M FSowgate ni + PJMPaynent M2M FSowgate ni �𝑙 𝑃��𝑀 𝑀2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘)Γ— si/3600sec M2M SettlenentM2M FSowgate ni π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’π‘  (οΏ½ 𝑀2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘the Non-Monitoring RTO β„Ž οΏ½οΏ½π‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘š (π‘€π‘œπ‘›π‘…Monitoring RTO𝑇𝑂 π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– βˆ’ π‘π‘œπ‘› οΏ½οΏ½π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘οΏ½and Non MonRTO PaynentM2M FSowgate ni οΏ½2Non-Monitoring RTO payment to Monitoring RTO for congestion on 𝑀 οΏ½οΏ½π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘–)) Where: π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M NYISO settlement, defined as a paymentFlowgate m from PJM to NYISO when the value is positive, and a payment frMonRTO PaynentM2M FSowgate ni om the NYISO to PJM when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘οΏ½οΏ½β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’οΏ½οΏ½π‘‘π‘– = M2M PJM settlement, defined as a paymenPJMPaynent M2M FSowgate ni t from NYISO to PJM wRamapo PARs settlement, in the form of a hen the value is positive,PJM from NYISO, and a payment from the PJM to NYISO when the value is negative for interval i; π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– = Monitoring i; NYPaynent RTO FSowgate ni = Ramapo PARs payment to Non-Monitoriin the form of ng RTO forto NYISO congestion on M2M Redispatch Flowgate m for intPJMerval i; and π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Žfor M2M Flowgate m πΉπ‘™π‘œπΉπΉπΉπΉοΏ½οΏ½π‘‘π‘’ π‘šπ‘– = Non-Monitorinandsi g RTO payment to Monitoring RTO for congestion on M2M Redispatch Flowgate m for interval i. 𝑀2𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– βˆ’ π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– + 𝑀2π‘€π‘ƒπ΄π‘…π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘ 𝑖 Where: 𝑀2𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M settlement, defined as a payment from the NYISO to PJM when the value is positive, and a payment from PJM to the NYISO when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M NYISO settlement, defined as a payment number of seconds in from PJM to NYISO when the value is positive, and a payment from the NYISO to PJM when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 𝑆𝑒�M2M_Settlenenth aSS n οΏ½οΏ½οΏ½π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M Ξ£ Ξ£ M2M_SettlenentM2M FSowgate ni M2M FSowgate n i=1 PJM settlement, definedM2M_Settlenenth as a payment from NYISO to PJM when the value is positive, and a payment from the PJM to NYISO when the value is negative for interval i; 𝑀2π‘€π‘ƒπ΄π‘…π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PAR Settlement across all NY-NJ PARs, defined as a payment from NYISO to PJM when the value is positive, and a payment from PJM to NYISO when the value is negative for interval i. For the purpose of settlements calculations, each interval will be calculated separately and then integrated to an hourly value: 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘β„Ž = οΏ½ 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– 𝑖=1 Where: 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘β„Ž = M2M settlement for hour h; and n = Number of intervals in hour h.

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Calculating a Combined M2M Settlement. The M2M settlement shall be the sum of the real-time redispatch settlement for each M2M Flowgate and M2MPARSettlement the Ramapo PARs settlement for each interval π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– π‘Žπ‘™π‘™ 𝑁F οΏ½πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’π‘  𝑀2𝑀 πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ π‘š οΏ½2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘οΏ½οΏ½β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’π‘  = (οΏ½ 𝑀2𝑀 πΉπ‘™πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘š (π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘οΏ½πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ οΏ½2𝑀 π‘Žπ‘™π‘™ 𝑃𝐽𝑀 𝑀2𝑀 πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’π‘  𝑀2𝑀 πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ π‘š π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– βˆ’ π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡οΏ½οΏ½ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™οΏ½οΏ½πΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘–))πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘ πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ = π‘Žπ‘™π‘™ 𝑃𝐽𝑀 𝑀2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’π‘  (οΏ½ 𝑀2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘š (π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– βˆ’ π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘–)) Where: π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M NYISO settlement, defined as a payment from PJM to NYISO when the value is positive, and a paymentπΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ from the NYISO to PJM when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘οΏ½οΏ½β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PJM settlement, defined as a payπΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ ment from NYISO to PJM when the value is positive, and a payment from the PJM to NYISO when the value is negative for interval i; π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘ŽοΏ½οΏ½π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπ‘π‘Œπ‘…π‘Žπ‘šπ‘Žπ‘π‘œπ‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘ 𝑖 + π‘ƒπ½π‘€π‘…π‘Žπ‘šπ‘Žπ‘π‘œπ‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘ πΉπ‘Žπ‘‘π‘’ π‘šπ‘– = Monitoring RTO payment to Non-Monitoring RTO for congestion on M2M Redispatch Flowgate m for interval i; and π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– = Non-Monitoring RTO payment to Monitoring RTO for congestion on M2M Redispatch Flowgate m for interval i. 𝑀2𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– βˆ’ π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– + 𝑀2π‘€π‘ƒπ΄π‘…π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘ 𝑖 Where: 𝑀2𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M settlement, defined as a payment from the NYISO to PJM when the value is positiveπ‘ƒπ½π‘€π‘…π‘Žπ‘šπ‘Žπ‘π‘œπ‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘ 𝑖 , and a payment from PJM to the NYISO whenPJM Ramapo PARs settlement the value is negative for ithe nterval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M NYthe ISO settlement, defined as a paymfor interval i; and π‘π‘Œπ‘…π‘Žπ‘šπ‘Žπ‘π‘œπ‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘ 𝑖 = NYISO Ramapo PARs settlement, defined as a payment from PJM to the NYISO when the value is negative and a payment from the NYISO to PJM when the value is positive ent from PJM to NYISO when the value is positive, and a payment from the NYISO to PJM when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PJM settlement, defined as a payment from NYISO to PJM when the value is positive, and a payment from the PJM to NYISO when the value is negative for interval i; 𝑀2π‘€π‘ƒπ΄π‘…π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PAR Settlement across all NY-NJ PARs, defined as a payment from NYISO to PJM when the value is positive, and a payment from PJM to NYISO when the value is negative for interval i. For the purpose of settlements calculations, each interval will be calculated separately and then integrated to an hourly value: 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘β„Ž = οΏ½ 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– 𝑖=1 Where: 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘β„Ž = M2M settlement for hour h; and n = Number of intervals in hour h.

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Calculating a Combined M2M Settlement. The M2M settlement shall be the sum of the real-time redispatch settlement for each M2M Flowgate and M2MPARSettlement for each interval π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– π‘Žπ‘™π‘™ 𝑁F οΏ½πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’π‘  𝑀2𝑀 πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ π‘š οΏ½2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘οΏ½οΏ½β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’π‘  = (οΏ½ 𝑀2𝑀 πΉπ‘™πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘š (π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘οΏ½πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ οΏ½2𝑀 π‘Žπ‘™π‘™ 𝑃𝐽𝑀 𝑀2𝑀 πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’π‘  𝑀2𝑀 πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ π‘š π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– βˆ’ π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡οΏ½οΏ½ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™οΏ½οΏ½πΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘–))πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘ πΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ = π‘Žπ‘™π‘™ 𝑃𝐽𝑀 𝑀2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’π‘  (οΏ½ 𝑀2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘š (π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– βˆ’ π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘–)) Where: π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M NYISO settlement, defined as a payment from PJM to NYISO when the value is positive, and a paymentπΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ from the NYISO to PJM when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘οΏ½οΏ½β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PJM settlement, defined as a payπΉπ‘™π‘œπ‘€π‘”π‘Žπ‘‘π‘’ ment from NYISO to PJM when the value is positive, and a payment from the PJM to NYISO when the value is negative for interval i; π‘π‘œπ‘› π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– = Monitoring RTO payment to Non-Monitoring RTO for congestion on M2M Redispatch Flowgate m for interval i; and π‘€π‘œπ‘›π‘…π‘‡π‘‚ π‘ƒπ‘Žπ‘¦π‘šπ‘’π‘›π‘‘π‘€2𝑀 π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž πΉπ‘™π‘œπΉπΉπΉπΉπ‘Žπ‘‘π‘’ π‘šπ‘– = Non-Monitoring RTO payment to Monitoring RTO for congestion on M2M Redispatch Flowgate m for interval i. 𝑀2𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– βˆ’ π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– + 𝑀2π‘€π‘ƒπ΄π‘…π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘ 𝑖 Where: 𝑀2𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M settlement, defined as a payment from the NYISO to PJM when the value is positive, and a payment from PJM to the NYISO when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘π‘β„Ž π‘π‘Œ π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M NYISO settlement, defined as a payment from PJM to NYISO when the value is positive, and a payment from the NYISO to PJM when the value is negative for interval i; π‘…π‘’π‘‘π‘–π‘ π‘π‘Žπ‘‘Where: π‘β„Ž 𝑃𝐽𝑀 π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PJM settlement, defined as a payment from NYISO to PJM when the value is positive, and a payment from the PJM to NYISO when the value is negative for interval i; 𝑀2π‘€π‘ƒπ΄π‘…π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– = M2M PAR Settlement across all NY-NJ PARs, defined as a payment from NYISO to PJM when the value is positive, and a payment from PJM to NYISO when the value is negative for interval i. For the purpose of settlements calculations, each interval will be calculated separately and then integrated to an hourly value: 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘β„Ž = οΏ½ 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘π‘– 𝑖=1 Where: 𝑀2𝑀_π‘†π‘’π‘‘π‘‘π‘™π‘’π‘šπ‘’π‘›π‘‘β„Ž = M2M settlement for hour h; and n = Number of intervals in hour h.

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