Load Reduction Event definition

Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.
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Examples of Load Reduction Event in a sentence

  • If the Company calls a Firm Load Reduction Event on a pre-scheduled opt-out day, the Customer is exempt from providing Firm Load Reduction and will receive no Energy Payment, whether or not they choose to operate.

  • Following a Load Reduction Event that is submitted to the Office of the Interconnection for compensation, the Office of the Interconnection shall provide the Notification window(s), if applicable, directly metered data and Customer Baseline Load and Symmetric Additive Adjustment calculation to the appropriate electric distribution company for optional review.

  • The Company is not responsible for any consequences to the participating Customer that results from the Firm Load Reduction Event or the Customer’s effort to reduce Energy in response to a Firm Load Reduction Event.

  • If the Company calls a Load Reduction Event on a pre-scheduled opt-out day, the Customer is exempt from providing load reduction and receives no Firm Energy Reduction Payment, whether or not they choose to operate.

  • The Company will not cancel or shorten the duration of a Firm Load Reduction Event once notification has been provided.

  • If the Customer qualifies for a reduced Reservation Payment; the Qualified Load Reduction is the average load reduction percentage for all Load Reduction Event hours during that month.

  • If other Load Reduction Events are called in the same month, and the Customer delivers a minimum of 70% of the Committed Load Reduction during such events, the corresponding Energy Reduction Payments are paid for each Load Reduction Event that the Customer delivers a minimum of 70% of the Committed Load Reduction on average over each event for which the Customer is enrolled during events in that month.

  • Evaluation and settlement of the Firm Energy Reduction Payment will occur within 60 days of the Firm Load Reduction Event.

  • If the Customer fails to deliver a minimum of 70% of the Committed Load Reduction on average during any single event for which the Customer is enrolled during events in that month, the Customer is not eligible for the Energy Payment for that Load Reduction Event nor the Reservation Payment for that month.

  • DEFINITIONS Advance-Notice Option – The notification period in which the Company will alert the Customer prior to a Load Reduction Event; options include 18 hours, 4 hours, and 10 minutes.

Related to Load Reduction Event

  • Deemed Liquidation Event means: (i) a merger or consolidation in which the Corporation is a constituent party or a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital stock pursuant to such merger or consolidation, except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of the surviving or resulting corporation or if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; or (ii) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or the sale or disposition (whether by merger or otherwise) of one or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Corporation.