Common use of LBMP Markets Clause in Contracts

LBMP Markets. A term that collectively refers to both the Real-Time Market and the Day- Ahead Market. LBMP Transition Period Payments (“LTPP”). Fixed monthly payments, as detailed in Attachment K of the ISO OATT, made between or among the Investor-Owned Transmission Owners to mitigate transmission cost-shifting as the competitive market is introduced for Energy and transmission pricing. LIPA Tax-Exempt Bonds. Obligations issued by the Long Island Power Authority, the interest on which is not included in gross income under the Internal Revenue Code. Load. A term that refers to either a consumer of Energy or the amount of demand (MW) or Energy (MWh) consumed by certain customers. Load Serving Entity (“LSE”). Any entity, including a Municipal Electric System and a Cooperatively Owned Electric System, authorized or required by law, regulatory authorization or requirement, agreement, or contractual obligation to supply Energy, Capacity and/or Ancillary Services to retail customers located within the NYCA, including an entity that takes service from the ISO to supply its own Load within the NYCA; provided, however, that such entity has obtained all governmental authorizations necessary to serve Load in the NYCA.