DRV definition
Examples of DRV in a sentence
DRV will be determined by using the percentage of each type of RINs specified by the Renewable Fuel Standard Program updated annually or the most recent requirements and will be adjusted retroactively for any difference between the requirements at the time of the calculation and the requirements contained in a final rule establishing Renewable Volume Obligations for the year.
Additional attributes are allocated to this cell which then make the creation of a DRV file possible.
Applicant represents that Applicant shall inform any Customer to be enrolled for participation in the DLM Program that such Customer will then forego any of two compensation streams that may be received by Customer as part of a Con Edison Rider R Tariff program for the duration of the term hereof, particularly DRV and LSRV compensation streams.
Consistent with the immediate foregoing, Applicant shall inform any Customer to be enrolled for participation in the DLM Program that such Customer will then forego any of two compensation streams that may be received by Customer as part of a Con Edison “Rider R Tariff” program for the duration of the term hereof, particularly “Demand Reduction Value” (DRV) and “Locational System Relief Value” (LSRV) compensation streams.
Expressed as a formula: DBV = (GB)*(BPP+DRV) DRV will be determined by using the percentage of each type of RINs specified by the Renewable Fuel Standard Program updated annually or the most recent requirements and will be adjusted retroactively for any difference between the requirements at the time of the calculation and the requirements contained in a final rule establishing Renewable Volume Obligations for the year.
In particular, the netting provisions of the CRV are next to identical to those of the DRV, the only difference being that the CRV netting provisions directly provide for the inclusion of collateral in the determination of the close-out amount; in the DRV this is addressed in the collateral addenda.
The reference to Sections 2 and 3 of the CRV reflects and confirms that the basic requirement regrading collateralisation is already addressed in the CRV itself (in contrast to DRV approach where collateralisation is addressed exclusively in the collateral addenda).
The title “Clearing-Framework Agreement” was thus not only chosen to distinguish it from the DRV but is also an acknowledgment of this link to the “Sonderbedingungen”.
In all other respects the CRV-CA follows the model of the DRV collateral addenda as much as possible so that parties already familiar with the DRV-documentation can build on their experience with these DRV collateral addenda.
As already mentioned above, the CRV-CA builds on the provisions concerning to provision of IM and VM contained in the CRV itself already establishing the obligation to provide collateral in view of the IM and VM-requirements of CCPs. In this respect, the CRV-CA differs from the collateral addenda to the DRV.