FTR Holder definition

FTR Holder means the PJM Member that has acquired and possesses an FTR.

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FTR Holder means the PJM Member that has acquired and possesses an FTR. 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. 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 1.3.

FTR Holder means the PJM Member that has acquired and possesses an FTR. 1.3.2A.03 “Effective FTR Holder” 1.3.2A.03) “Effective FTR Holder” shall mean: 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.

Examples of FTR Holder in a sentence

FTR Holder is an entity that acquires an FTR through the FTR Auction to Section III.7 of Market Rule 1 and registers with the ISO as the holder of the FTR in accordance with Section III.7 of Market Rule 1 and applicable ISO New England Manuals.
Each FTR shall entitle the FTR Holder to a share of Usage Charges attributable to Inter-Zonal Congestion for transfers on that path from the designated originating Zone to the designated receiving Zone in accordance with Section 9.6. An FTR is a right in one direction only.
The FTR Holder shall receive a portion of the net Usage Charges in the Hour-Ahead Market proportionate to the share of the Usage Charges it received in the Day-Ahead Market in accordance with Section 9.6.1.
An FTR Holder shall not be entitled to share in (i) Usage Charges attributable to Inter-Zonal Congestion from the designated receiving Zone to the designated originating Zone¡ or (ii) Usage Charges payable in accordance with Section 7.3.1.5.1 to a Scheduling Coordinator that counter-schedules from the designated originating Zone to the designated receiving Zone.
Each FTR shall entitle the FTR Holder to a share of Usage Charges attributable to Inter-Zonal Congestion for transfers on that path from the designated originating Zone to the designated receiving Zone.
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.
When the FTR Target Allocation is positive, the FTR Target Allocation is a credit to the FTR Holder.
An FTR shall not afford the FTR Holder any right to share in Usage Charges attributable to Inter-Zonal Congestion occurring in any hour before or after the term of the FTR.
When the FTR Target Allocation is negative, the FTR Target Allocation is a debit to the FTR Holder if the FTR is a Financial Transmission Right Obligation.
The hourly economic value of a Financial Transmission Right Option is positive (a benefit to the FTR Holder) when the Day-ahead Congestion Price at the point of delivery is higher than the Day-ahead Congestion Price at the point of receipt.

More Definitions of FTR Holder

FTR Holder means the PJM Member that has acquired an FTR in an FTR Auction or by any other means. Revised for the 1/22 GDECS Meeting (1.3.5.01) “FTR Holder” shall mean the PJM Member that has acquired and possesses an FTR. 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. 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 1.3.

FTR Holder means the PJM Member that has acquired an FTR in an FTR Auction or by any other means. (1.3.2A.03) “Effective FTR Holder” shall mean 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. 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. 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: October 13, 2015 For Discussion at GDECS October 23, 2015 Agreement, Attachment, Section, Title Current Language Proposed Revisions Rationale Effective FTR Holder clarifies that intention.