Effective FTR Holder definition

Effective FTR Holder means:

Effective FTR Holder means: The term FTR holder or holder of FTR is used throughout the Tariff and OA. However, the term is not defined. Thus we are adding a definition and will use the defined term in all places where “FTR holder”, “holder of FTRs” or holder of Financial Transmission Rights” currently exists, except as described below regarding use of the new defined term Effective FTR Holder. (i) For an FTR Holder that is either a (a) privately held company, or (b) a municipality or electric cooperative, as defined in the Federal Power Act, an FTR Holder, together with any Affiliate, subsidiary or parent of the FTR Holder, any other entity that is under common ownership, wholly or partly, directly or indirectly, with the FTR Holder; or (ii) For an FTR Holder that is a publicly traded company including a wholly owned subsidiary of a publicly traded company, an FTR Holder, together with any Affiliate, subsidiary or parent of the FTR Holder, any other PJM Member has over 10% common ownership with the FTR Holder, wholly or partly, directly or indirectly, or has the ability to influence, directly or indirectly, the management or policies of the FTR Holder; or (iii) an FTR Holder together with any other PJM Member, including also any Affiliate, subsidiary or parent of such other PJM In addition, PJM proposes to add a definition of Effective FTR Holder, and to use that defined term in the FTR Forfeiture section of the Tariff and OA (Tariff, Attachment K- Appendix sections 5.2.1(b) and 5.2.1(d), Tariff, Attachment M-Appendix Section VI, and OA, Schedule 1, sections 5.2.1(b) and (d). The reason for these changes as they pertain to the FTR Forfeiture Rule contained in those Tariff and OA sections, is to ensure that the scope of entities PJM and the IMM for purposes of the FTR Forfeiture Rule is appropriate. The intention is to ensure all entities under common ownership or control will be monitored for purposes of the FTR Forfeiture Rule. The proposed definition of Proposed Clean-Up, Clarification and Corrections to Governing Documents FIRST READ PROPOSED REVISIONS Dated: January 22 2016 For Discussion at MRC January 28, 2016 Agreement, Attachment, Section, Title Current Language Proposed Revisions Rationale Member, with which it shares common ownership, wholly or partly, directly or indirectly, in any third entity which is a PJM Member (e.g., a joint venture). Effective FTR Holder clarifies that intention.

Effective FTR Holder means an FTR Holder, any Affiliate, a subsidiary or parent of the FTR Holder, or any other entity that is under common ownership (including passive ownership), directly or indirectly, wholly or partly, with the FTR Holder, except that common ownership shall not include an individual’s passive

Examples of Effective FTR Holder in a sentence

• Nothing in this section shall preclude the Market Monitoring Unit from action to recover inappropriate benefits from the subject activity if the amount forfeited is less than the benefit derived by the Effective FTR Holder.

• An Effective FTR Holder objecting to the application of this rule shall have recourse to the Commission for review of the application of the FTR forfeiture rule to its trading activity.

• For the purposes of this calculation, all Financial Transmission Rights of an Effective FTR Holder shall be considered.

• The Market Monitoring Unit shall calculate Transmission Congestion Credits as required under Operating Agreement, Schedule 1, section 5.2.1(b) and Tariff, Attachment K-Appendix, section 5.2.1(b), including the determination of the identity of the Effective FTR Holder and an evaluation of the overall benefits accrued by an entity or affiliated entities trading in FTRs and Virtual Transactions in the Day-ahead Energy Market, and provide such calculations to the Office of the Interconnection.

• The Market Monitoring Unit shall calculate Transmission Congestion Credits as required under Section 5.2.1(b) of Schedule 1 of the Operating Agreement, including the determination of the identity of the Effective FTR Holder and an evaluation of the overall benefits accrued by an entity or affiliated entities trading in FTRs and Virtual Transactions in the Day-ahead Energy Market, and provide such calculations to the Office of the Interconnection.

• For the purposes of this calculation, every individual Financial Transmission Right of an Effective FTR Holder shall be considered.

• An Effective FTR Holder objecting tothe application of this rule shall have recourse to the Commission for review of the application of the FTR forfeiture rule to its trading activity.

• We note that XO Energy is referring to proposed section 5.2.1(b), in relevant part: If an Effective FTR Holder between specified delivery and receipt buses acquired the Financial Transmission Right…and had a Virtual Transaction portfolio… for an applicable hour in the Day-ahead Energy Market,...

More Definitions of Effective FTR Holder

Effective FTR Holder means an FTR Holder, any Affiliate or subsidiary of the FTR Holder, any other PJM Member that is under common ownership with the FTR Holder if the FTR Holder is a privately held company, and/or for publically traded companies, any other PJM Member that has over 5% common ownership with the FTR Holder. Further, any two PJM Members shall be considered Effective FTR Holders if they share common ownership in any third party business entity that is a PJM Member. Revised to this for the 12/11 GDECS:

Effective FTR Holder means: (i) For an FTR Holder that is either a (a) privately held company, or (b) a municipality or electric cooperative, as defined in the Federal Effective FTR Holder clarifies that intention.