Common use of Monitoring and Implementation Clause in Contracts

Monitoring and Implementation. 23.4.7.2.1 The ISO will monitor Market Parties for unjustified interactions between a Market Party’s virtual bidding and the submission of real-time Incremental Energy Bids that exceed the Incremental Energy Bids submitted in the Day-Ahead Market (or mitigated Day- Ahead Incremental Energy Bids where appropriate), for the portion of a Generator’s Capacity that was scheduled in the Day-Ahead Market. If the Market Party has a scheduled Virtual Load Bid for the same hour of the Dispatch Day as the hour for which submitted real-time Incremental Energy Bids exceeded the Incremental Energy Bids submitted in the Day-Ahead Market (or mitigated Day-Ahead Incremental Energy Bids where appropriate), for a portion of its Generator’s Capacity that was scheduled in the Day-Ahead Market, and any such real-time Incremental Energy Bids exceed the reference level for those Bids that can be justified after-the-fact by more than: (i) the lower of $100/MWh or 300%; or (ii) if the Market Party’s Generator is located in a Constrained Area for intervals in which an interface or facility into the area in which the Generator or generation is located has a Shadow Price greater than zero, then a threshold calculated in accordance with Sections 23.3.1.2.2.1 and 23.3.