Examples of FTR Participant in a sentence
FTR Bid Financial Assurance is an amount of financial assurance required from a Designated FTR Participant for each bid submission into an FTR auction.
Such review and verification is limited to demonstrating basic compliance by an FTR Participant with the representation it makes under paragraph 3.b of its annual certification showing the existence of written policies, procedures and controls to limit its risk in PJM’s FTR markets and does not constitute an endorsement of the efficacy of such policies, procedures or controls.
If such additional information is not provided or does not, in PJMSettlement’s judgment, demonstrate eligibility to make the representation in paragraph 3.a of the annual certification, PJMSettlement will require the FTR Participant to instead make the representations required in paragraph 3.b of the annual certification, including representing that it has submitted a copy of its current governing risk control policies, procedures and controls applicable to its FTR trading activities.
A Designated FTR Participant that has been awarded a bid in an FTR Auction is required to provide “Settlement Financial Assurance.” The amount of a Designated FTR Participant’s Settlement Financial Assurance shall be equal to the amount of any settled but uninvoiced Charges incurred by such Designated FTR Participant for FTR transactions less the settled but uninvoiced amounts due to such Market Participant for FTR transactions.
FTR Settlement Risk Financial Assurance is an amount of financial assurance required by a Designated FTR Participant for each bid submission into an FTR Auction and for each bid awarded to the individual participant in an FTR Auction.
After bids are finalized for an FTR Auction, but before the auction results are final, a Designated FTR Participant must provide FTR Settlement Risk Financial Assurance based on its bids for each FTR path.
FTR Award Financial Assurance is a required amount of financial assurance that must be maintained at all times from a Designated FTR Participant for each FTR awarded to the participant in any FTR Auctions.
The ISO will calculate an FTR Settlement Risk Financial Assurance amount for each direction (prevailing flow and counter flow) of each FTR path on which the Designated FTR Participant has bid, equal to the total number of MW bid for that direction of the FTR path multiplied by the applicable proxy value for the FTR path (as described below) multiplied by the number of hours associated with the bid.
Once an FTR Auction’s results are final, a Designated FTR Participant must provide FTR Settlement Risk Financial Assurance based on awarded FTRs, equal to the MW value of each awarded FTR multiplied by the applicable proxy value for the FTR path (as described below) multiplied by the number of hours associated with the FTR.
A Designated FTR Participant is required to maintain, at all times, “Unsettled FTR Financial Assurance” for all FTRs awarded to it in any FTR Auctions.